BALTIMORE, MD -- (MARKET WIRE) -- 05/29/07 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Sterling Financial Corporation ("Sterling" or the "Company") (NASDAQ: SLFI) between April 27, 2004 and May 24, 2007, inclusive (the "Class Period").

The complaint alleges that during the Class Period Sterling's subsidiaries and certain of its officers and directors violated federal securities laws by issuing various materially false and misleading statements that had the effect of artificially inflating the market price of the Company's securities and causing Class members to overpay for the securities.

No class has yet been certified in the above action. If you are a member of the proposed Class, you may, no later than July 24, 2007, ask the Court to allow you to serve as lead plaintiff for the proposed Class. To serve as a lead plaintiff, you must satisfy certain legal requirements. In making your decision, you should take into account that those with large financial losses resulting from the alleged federal securities law violations are given preference in being appointed lead plaintiff.

If you have suffered a net loss for all transactions in Sterling Financial Corporation securities during the Class Period (including shares or calls purchased during, but retained after, the Class Period or put options sold but not covered until after the Class Period), you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven (without obligation or cost to you) at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. The partners at the firm responsible for this case have combined experience in securities and class action litigation of over 40 years. If you choose to retain counsel, you may retain Brower Piven, or you may retain other counsel of your choice.

CONTACT:
Brower Piven, A Professional Corporation
Baltimore, Maryland
Charles J. Piven
410/986-0036
Email Contact