SouthFirst Bancshares and First Federal of the South Add Board Member.

Business Editors

SYLACAUGA, Ala.--(BUSINESS WIRE)--Dec. 5, 2002

SouthFirst Bancshares, Inc. (AMEX:SZB) (the "Company") and First Federal of the South, a federally-chartered, stock savings association and a wholly-owned subsidiary of the Company ("First Federal"), today announced the election of Sandra H. Stephens to both the Company's and First Federal's board of directors.

Ms. Stephens currently serves as Executive Vice President and Chief Operating Officer of both the Company and First Federal, as well as President of SouthFirst Mortgage, Inc., a wholly-owned subsidiary of First Federal. Joe K. McArthur, Chief Executive Officer of the Company and President and Chief Executive Officer of First Federal, commented that, "we are extremely pleased that Ms. Stephens is a member of our management team and, now, a member of our boards of directors. She has contributed significantly to our efforts to improve the overall operational efficiencies within the Company, and has been focused on increasing residential mortgage loan volumes through SouthFirst Mortgage, a subsidiary of First Federal, located in Birmingham, Alabama."

Prior to joining the Company, Ms. Stephens was with First Federal Bank, in Tuscaloosa, Alabama, where she served as Senior Vice President and Chief Operating Officer from 1997 to 2001, and as Chief Financial Officer from 1992 to 1997. Ms. Stephens worked for the Federal Home Loan Mortgage Corporation (Freddie Mac), in Atlanta, Georgia, from 1990 to 1992, and previously served as Vice President and Controller of Pinnacle Bank, in Jasper, Alabama, from 1981 to 1990.

Ms. Stephens holds a B.B.A. in Finance from the University of Montevallo and a Certification of an Accounting Degree from Birmingham Southern College.

SouthFirst Bancshares, Inc. is a thrift holding company that owns all of the outstanding shares of stock of First Federal of the South, a federal stock savings association, with offices in Sylacauga, Talladega, Clanton, Centreville and Birmingham, Alabama.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Certain statements in this release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which statements can generally be identified by the use of forward-looking terminology, such as "may," "will," "expect," "estimate," "anticipate," "believe," "target," "plan," "project," "continue," or the negatives thereof, or other variations thereon or similar terminology, and are made on the basis of management's plans and current analyses of the Company, its business and the industry as a whole. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. The above factors, in some cases, have affected, and in the future could affect, the Company's financial performance and could cause actual results for 2002 and beyond to differ materially from those expressed or implied in such forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.