SAN JUAN, Puerto Rico--(BUSINESS WIRE)--May 16, 2005--Oriental Financial Group Inc. (NYSE: OFG) today named Ana T. Ramos as the Group's first Chief Information Officer. Ms. Ramos has more than 20 years experience in information technology and systems implementation. Most recently, she was Director, E-Business, of Puerto Rico Telephone and Verizon WirelessPuerto Rico, since 2000, and Director, Technical Architecture and Office Automation, of Puerto Rico Telephone, for eight years.

"Ms. Ramos' mission at Oriental is to turn information technology into a true competitive tool," said Ganesh Kumar, the Group's Executive Vice President of Strategic Planning. "Specifically, she will focus on increasing our ability to expand business and service for our target retail, professional and middle market customers; improving operating efficiencies; and producing a real return on our IT investments."

Ms. Ramos guided the deployment of the IT infrastructure and customer relationship management systems at Puerto Rico Telephone. She supervised the massive, company-wide installation of more than 3,000 workstations and 50 network servers, along with other critical Internet, digital, communications and service systems.

Ms. Ramos began her career in 1981 with AT&TBell Labs (later renamed Bellcore), where she developed telephone technology used today on the mainland and Commonwealth, and, in 1988, she joined Puerto Rico Telephone. Ms. Ramos has a 1980 BS in Chemical Engineering and a 1981 MS in Operations Research, from Georgia Institute of Technology, in Atlanta, and a 1984 MS Equivalent in Computer Science, from AT&TBell Labs, in New Jersey.

About Oriental Financial Group

Oriental Financial Group Inc. (www.OrientalOnline.com) is a diversified financial holding company operating under U.S. and Puerto Rico banking laws and regulations. Now in its 40th year in business, Oriental provides comprehensive financial services to its clients throughout Puerto Rico and offers third party pension plan administration through wholly owned subsidiary, Caribbean Pension Consultants, Inc. The Group's core businesses include a full range of mortgage, commercial and consumer banking services offered through 23 financial centers in Puerto Rico, as well as financial planning, trust, insurance, investment brokerage and investment banking services.

Forward-Looking Statements

This news release may contain forward-looking statements that reflect management's beliefs and expectations and are subject to risks and uncertainties inherent to the Group's business, including, without limitation, the effect of economic and market conditions, the level and volatility of interest rates, and other risks and considerations detailed in the Group's filings with the Securities and Exchange Commission. These or other factors could cause actual results to differ materially from forward-looking statements. The Group also disclaims any obligations to update information contained in this news release as a result of developments occurring after the date of issuance.

    CONTACT: Puerto Rico Contact:
             Oriental Financial Group
             Michelle Balaguer, 787-771-6898
             or
             U.S. Contact:
             Anreder & Company
             Steven Anreder and Gary Fishman, 212-532-3232

    SOURCE: Oriental Financial Group Inc.