Broadway Financial Corporation Announces Stockholder Election of Directors and Second Quarter Dividend.

LOS ANGELES -- Broadway Financial Corporation ("Company") (NASDAQ:BYFC), the holding company of Broadway Federal Bank, f.s.b. ("Bank"), today announced:

--The election of three directors, Mr. Paul C. Hudson, Mr. Kellogg Chan and Mr. Rick McGill, by the stockholders at the Annual Meeting held on June 21, 2006. The three directors will serve for terms of three years each ending in 2009.

--The ratification of Crowe Chizek and Company LLP by the stockholders as the Company's independent audit firm for 2006.

--The payment of the Company's cash dividend for the second quarter. A dividend of $0.05 cents per share of the Company's Common Stock will be paid on July 31, 2006 to stockholders of record as of July 3, 2006.

Broadway Federal 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.broadwayfederalbank.com.