Alaska Pacific Bancshares, Inc. Announces Increase in Cash Dividend.

JUNEAU, Alaska -- Alaska Pacific Bancshares (OTCBB:AKPB) announced today that its Board of Directors declared a quarterly cash dividend of $.10 per share on the Corporation's outstanding common stock. This dividend represents an 11% increase over the $.09 per share paid in recent quarters. The cash dividend will be payable on May 18, 2007, to stockholders of record as of the close of business on May 7, 2007.

Alaska Pacific Bancshares is the holding company for Alaska Pacific Bank, a federally chartered savings bank headquartered in Juneau, Alaska, and is traded under the symbol AKPB.