LOGANSPORT FINANCIAL CORP.
                       ANNOUNCES STOCK REPURCHASE PROGRAM

Logansport,  Indiana  (November 10, 1999) Logansport  Financial  Corp.,  (NASDAQ
Small Cap Market, LOGN), an Indiana corporation which is the holding company for
Logansport  Savings Bank, FSB, a federal savings bank,  announced today that the
Board of Directors has approved the  repurchase,  from time to time, on the open
or  private  market of up to 5% of the  Company's  outstanding  shares of common
stock, without par value ("Common Stock"), or 59,960 such shares. Such purchases
will be made subject to market  conditions in open market or block  transactions
at prices deemed  appropriate by management.  Repurchases  may begin as early as
November 15, 1999.

According  to Thomas G.  Williams,  President of the  Corporation,  the Board of
Directors believes the repurchase program is in the best interest of the Company
and its shareholders.  The open or private market purchases will have the effect
of enhancing  the book value per share and the  potential for growth in earnings
per share of the Company's remaining outstanding shares.

As of September 30, 1999,  the Company had  consolidated  total assets of $113.8
million and shareholders' equity of $16.7 million.