CONTACT:     ROBERT H. BECKER
                                      PRESIDENT & CEO
                                      517-374-3588
                              OR:     JOHN W. ABBOTT
                                      EXECUTIVE VICE
                                      PRESIDENT & COO
                                      517-483-4871

FOR IMMEDIATE RELEASE -- MAY 19, 1998
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            CFSB BANCORP, INC. DECLARES 
                 10% STOCK DIVIDEND
                          
Lansing, Michigan -- CFSB Bancorp, Inc., (NASDAQ-NMS: CFSB)
holding company for Community First Bank, announced today the
Corporation's Board of Directors declared a 10 percent stock
dividend payable June 12, 1998 to stockholders of record on May
29, 1998.  Stockholders will receive one share of common stock
for each 10 shares they hold on the record date.  Stockholders
entitled to receive fractional shares will receive cash based on
the stock's market price on May 29, 1998.  Management
anticipates the Corporation's next regular quarterly cash
dividend will be paid on July 13, 1998 and expects the current
dividend rate of $0.13 per share will remain in effect for both
the current and new shares.

As previously announced, the Corporation's Board of Directors,
at its April 21, 1998 meeting, approved an extension of the
April 1997 stock repurchase program whereby the Corporation may
acquire up to 387,750 shares of the Corporation's common stock,
which represents approximately 5 percent of the outstanding
common shares.  The repurchase program was designed to offset
the future dilution incurred in connection with the
administration of the Corporation's stock option plans and the
issuance of stock dividends.  To date, 327,188 shares have been
repurchased in open market transactions and the Corporation
intends to reissue these shares in conjunction with the 10
percent stock dividend.

CFSB Bancorp, Inc. is the holding company for Community First
Bank, which specializes in residential mortgage lending and
retail banking services.  With headquarters in Lansing,
Michigan, the Bank serves mid-Michigan from 17 Banking Centers. 
Total assets of CFSB Bancorp at March 31, 1998 were $846 million
and stockholders' equity, all tangible, was $65 million.

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