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                    P R E S S   R E L E A S E

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RELEASE DATE:                      CONTACT:
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December 17, 1997                  Xxxxx X. Xxxxx  
                                   Senior Vice President
                                   of Operations and Secretary
                                   (000) 000-0000


               PENNFIRST BANCORP, INC. ANNOUNCES CASH DIVIDEND
               -----------------------------------------------

     PennFirst Bancorp, Inc. announced today that its Board of Directors 
at its meeting on December 16, 1997 declared a quarterly cash dividend
of $.09 on the Common Stock of PennFirst Bancorp, Inc. payable on January
23, 1998 to the stockholders of record at the close of business on December
31, 1997.

     PennFirst Bancorp, Inc. is the parent Holding Company of ESB Bank,
 F.S.B. and Xxxx Xxxx Federal Savings Bank.

     In announcing the scheduled cash dividend, Xxxxxxxxx X. Xxxxxxxx,
President and Chief Executive Officer, noted the Company's favorable
results of operations for the three months ended September 30, 1997. The
Company recognized net income for the three month period ended September
30, 1997 of $1.4 million or $.27 per share.  This announcement reflects
the Company's policy of declaring a regular quarterly cash dividend of $.09
per share, which represents the thirtieth consecutive quarter of declaring
such a dividend. This quarterly cash dividend equates to an annual cash
dividend of $.36 per share.  


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