Broadway Financial Corporation Announces First Quarter Dividend.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--March 20, 2003

Broadway Financial Corporation ("Company") (Nasdaq:BYFC), the holding company of Broadway Federal Bank, f.s.b. ("Bank"), today announced the declaration of the Company's quarterly cash dividend for the first quarter. A $0.0375 per share dividend on the Company's common stock will be paid on April 30, 2003, to stockholders of record as of April 1, 2003.

The Bank is a community-oriented savings bank, which primarily originates residential mortgage loans in the Los Angeles geographic areas known as Mid-City and South Central. The Bank operates four full service branches, three in the city of Los Angeles, and one in the nearby city of Inglewood, California. Shareholders, analysts and others seeking information about the Company or the Bank are invited to write to: Broadway Financial Corporation, Investor Relations, 4800 Wilshire Blvd., Los Angeles, CA 90010, or visit our website at www.broadwayfed.com.