Community Savings Corrects Quarterly Net Income Before Recognition of SAIF Special Assessment in 10/10-BW1310 (COMMUNITY-SAVINGS).

NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--Oct. 11, 1996-- Community Savings, F.A. (NASDAQ:CMSV) Friday announced that its press release of Oct. 10, 1996 mistakenly stated that the net income for the quarter ended Sept. 30, 1996 before the recognition of the one-time SAIF special assessment was $2.0 million, or $0.40 per share.

Such release should have stated that net income before the special assessment was $1.6 million, or $0.33 per share. The Association's operating results for the three months and year ended Sept. 30, 1996 were correctly reported as $(186,000) or $(0.03) per share and $3.9 million, or $0.79 per share, respectively.

Chartered in 1955, Community Savings is a federal stock savings and loan association with headquarters in North Palm Beach, Florida, the deposits of which are insured by the FDIC. The Association has 18 full-service offices located throughout northern Palm Beach, Martin and St. Lucie counties.

Visit us on the World Wide Web at: http://www.communitysavings.com

CONTACT: Community Savings

James B. Pittard/Larry J. Baker, 561/881-2212