CKF Bancorp, Inc. Announces the Planned Retirement of President John H. Stigall and Its Intention to Repurchase Common Stock.

DANVILLE, Ky. -- CKF Bancorp, Inc. (OTCBB:CKFB), parent company of Central Kentucky Federal Savings Bank, announced that John H. Stigall plans to retire as President and Chief Executive Office of CKF Bancorp, Inc. and of Central Kentucky Federal Savings Bank, effective July 31, 2005. He will remain on the Board of Directors of both the Company and the Bank and will continue to serve as Chairman of the Board of each after his retirement as an officer.

Stigall joined the Bank in 1971 as an Assistant Secretary. In 1979, he was promoted to Executive Vice President and Chief Executive Officer. In 1994, he was elected President and Chief Executive Officer of the Bank and was elected President and Executive Officer of the Company, in 1994, upon its inception.

William H. (Bill) Johnson will succeed Stigall as President and Chief Executive Officer of the Company and the Bank. Russell M. Brooks will be promoted to Executive Vice President of the Company and the Bank and will continue to serve as Chief Financial Officer of each.

William H. Johnson joined the Company and Bank as Senior Vice President in 1998. Prior to that, he served from 1982 to 1998 as Vice President and Regional Manager of Great Financial Bank, Danville, Kentucky, and was Managing Officer of Commonwealth First Federal Savings and Loan, Danville, Kentucky, from 1974 until its acquisition by Great Financial Bank in 1982. He is a Boyle County native, is a member of the Rotary Club and the Lexington Avenue Baptist Church, and serves on the Board of Directors of the Danville Country Club.

Russell M. Brooks has been Vice President/Treasurer and Chief Financial Officer of the Company and of the Bank since 2001. He served as Executive Vice President of First Federal Savings Bank, Cynthiana, Kentucky from 1998 to 2001 and was Vice President of Kentucky Bank, Paris, Kentucky from 1996 to 1998. He was Chief Executive Officer of Jessamine First Federal Savings and Loan, Nicholasville, Kentucky, from 1989 to until its acquisition by Kentucky Bank in 1996.

In other business, CKF Bancorp, Inc. announced that it intends to repurchase up to 73,004 shares of its own stock, which is equal to 5% of the current outstanding common shares, beginning not earlier than May 16, 2005. The repurchased shares will become treasury shares and will be used for general corporate purposes. The repurchase program will be dependent upon market conditions and the availability of shares, and there is no guarantee as to the exact number of shares to be repurchased by the Company.

Mr. Stigall stated that the Board of Directors believes that the common stock provides an attractive investment and that the repurchases will improve liquidity in the market for the common stock. In addition, the repurchases are expected to increase the Company's earnings per share. According to Mr. Stigall, the repurchases generally would be effected through open market purchases, although he did not rule out the possibility of unsolicited negotiated transactions or other types of repurchases.

Central Kentucky Federal Savings Bank's main office is located at 340 W. Main Street, Danville, Kentucky. The Bank also operates two full service branch offices, located in Danville and Lancaster, Kentucky and a loan production office in Nicholasville, Kentucky.