Independence Federal Names Fleisher to Board.

Business Editors

WASHINGTON--(BUSINESS WIRE)--Oct. 31, 2000

Donna F. Shuler, President of Independence Federal Savings Bank (Nasdaq:IFSB), today announced that Marc Fleisher has been elected to the bank's board of directors.

Mr. Fleisher is an Associate Real Estate Broker with Long and Foster Realtors, and a member of the firm's Founders Club. For the past four years he has been recognized as a top producer (by volume) nationwide among all companies; the No. 1 Long & Foster Top Producer in the entire company; and the No. 1 agent in the metropolitan DC area (Montgomery County, Washington, DC and Northern Virginia) among all companies.

He is a member of the Greater Capital Area Association of Realtors (GCAAR) and an appointed director of the Washington, DC, Association of Realtors (WDCAR).

In announcing the appointment, Independence Federal President Donna F. Shuler said, "Noting his strong record in real estate over the past 21 years, and his extensive industry and community service involvement, our board agreed unanimously that Mr. Fleisher would be a fine addition to our team."

Independence Federal, with offices in Washington, DC, at 1229 Connecticut Avenue, NW; 1020 Nineteenth Street, NW; 7711 Georgia Avenue, NW; and, 1006 E Street, NW; and, in Chevy Chase, MD at 5530 Wisconsin Avenue, is listed on the NASDAQ as IFSB.