LOGANSPORT FINANCIAL CORP.
                       ANNOUNCES STOCK REPURCHASE PROGRAM

Logansport, Indiana (December 7, 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 an additional 5% of the  Company's  outstanding  shares of
common stock,  without par value ("Common  Stock").  This additional 5% combined
with 4,260 shares  remaining on the repurchase  program  announced  November 10,
1999 and  currently  in  progress  will allow the Company to purchase a total of
60,000  additional  shares.  Such  purchases  will be  made  subject  to  market
conditions in open market or block  transactions at prices deemed appropriate by
management and will begin immediately.

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.