First Federal Financial Corporation of Kentucky Adds Two New Directors.

Business Editors

ELIZABETHTOWN, Ky.--(BUSINESS WIRE)--Nov. 9, 2000

The Board of Directors of First Federal Financial Corporation of Kentucky (NNM:FFKY), parent of First Federal Savings Bank of Elizabethtown, today announced that Diane E. Logsdon and John L. Newcomb, Jr. have joined its board of directors following the Corporation's annual meeting of shareholders on November 8, 2000. B. Keith Johnson, the Corporation's President and Chief Executive Officer, was also re-elected to a three-year term on the Board of Directors of the Corporation, the Bank, and its subsidiaries.

John L. "Jack" Newcomb, Jr., a life-long resident of Nelson County, is President and Financial Manager of Newcomb Oil Company. Newcomb Oil, a family-owned business that employs 750 people in its operations, owns and operates Five Star Food Marts and supplies wholesale gasoline, distillate and lubricants throughout Central Kentucky and Southern Indiana. Mr. Newcomb attended Elizabethtown Community College and Western Michigan University. He and his wife, Jackie, have four teenage children and make their home in Bardstown, Kentucky. Mr. Newcomb has served on the Board of Directors of the Bank and its subsidiaries since April 1999.

Diane E. Logsdon is Vice President of Planning and Development for Hardin Memorial Hospital. She is the current Chair of the Board of Elizabethtown-Hardin County Chamber of Commerce, where she is beginning her third term on the Board. Ms. Logsdon is a graduate of the first nursing class of Elizabethtown Community College and holds a Bachelor of Science Degree in Health Care Administration from St. Joseph's College and a Master of Science Degree in Systems Science (with concentration in Health Systems) from the University of Louisville. She was married to the late Charles Logsdon, former Hardin County Sheriff and well-known Hardin County historian. She resides in Elizabethtown and has two daughters, Honor Roth and Kristin Arnold.

At the shareholder's meeting, Irene B. Lewis and Kennard T. Peden retired from the board of directors. Ms. Lewis, the bank's first female employee, held various positions with the bank from 1947 through 1985, and has served as a member of the board of directors since 1983. Mr. Peden, who has served on the board since 1967, is a retired farmer and a director of the North Central Kentucky Education Foundation. He will remain on the Board of the Bank and its subsidiaries.

In his remarks at the meeting, President and Chief Executive Officer, B. Keith Johnson outlined the Corporation's ongoing plan to address the impact of recent increases in interest rates by transitioning from a traditional thrift institution to a commercial bank. "Our plan is to increase our emphasis on consumer and commercial lending. To effectively compete for loan and deposit share, we are developing a service and sales culture that emphasizes quality service and proactively seeks new business from customers. An important element of our strategy is to build long-term relationships with small business owners by having a wide variety of products to meet their deposit and lending needs as well as capturing their individual banking relationships."

In response to a shareholder question, Mr. Johnson stated that the Corporation presently had not received and was not considering any offers from larger regional financial institutions. He also stated that the Board's duty always would be to consider whether any such offer it received would be in the best interests of its shareholders.

First Federal Financial Corporation of Kentucky is a $583 million financial services holding company and the parent of First Federal Savings Bank of Elizabethtown. The Bank serves Central Kentucky through its 13 full service banking centers.

The common stock of First Federal Financial Corporation is traded on the NASDAQ National Market under the symbol "FFKY." Market makers for the stock are J.J.B. Hilliard, W.L. Lyons, Inc., Stifel, Nicolaus & Company, Inc., and Capital Resources, Inc.

This press release includes forward-looking statements about the Corporation's business, prospects and financial results. Events or circumstances that could cause actual results to differ from those indicated by forward-looking statements include changes in economic conditions in the markets served by the Corporation, changes in interest rates, competition, and other factors identified in the periodic reports filed by the Corporation with the Securities and Exchange Commission. Forward-looking statements speak only on the date they are made, and the Corporation undertakes no obligation to update any forward-looking statement to reflect subsequent events or developments.