FOR IMMEDIATE RELEASE                                              July 25, 2003


Contact:                     Amy L. Timmerman, Investor Relations - 781-221-6396
                             John A. Simas, EVP and CFO - 781-221-6307
                             FAX: (781) 221-7594

BostonFed Bancorp, Inc. announces its "June 30, 2003 Investor Presentation" is
available on its web site.

Burlington,  MA- BostonFed Bancorp, Inc. (AMEX- BFD) (the "Company"), the parent
of Boston Federal  Savings Bank, a  federally-chartered  stock savings bank, and
Broadway National Bank, a national chartered commercial bank, announced that the
Company's June 30, 2003 Investor  Presentation is available on the Company's web
site at  www.bostonfed.com.  Upon reaching the web site,  please click on "About
BostonFed Bancorp, Inc.", then click "June 30, 2003 Investor Presentation."

David F. Holland, President and CEO, and John A. Simas, Executive Vice President
and CFO,  will be  speaking  at 9:10 a.m. on July 30, 2003 at the 4th Annual KBW
Conference  in New York City.  The conference  will be  webcast at  www.kbw.com.
                                                                    -----------

This report may contain certain forward-looking  statements,  which are based on
management's  current   expectations   regarding  economic,   legislative,   and
regulatory  issues that may impact the  Company's  earnings  in future  periods.
Factors  that  could  cause  future  results  to vary  materially  from  current
management  expectations  include,  but are not  limited  to,  general  economic
conditions,  changes in interest rates,  deposit flows, real estate values,  and
competition;  changes in accounting principles, policies, or guidelines; changes
in legislation or regulation;  and other  economic,  competitive,  governmental,
regulatory  and  technological   factors  affecting  the  Company's  operations,
pricing, products and services. The Company does not undertake, and specifically
disclaims any obligation,  to publicly release the result of any revisions which
may be made to any forward-looking statements to reflect events or circumstances
after the date of such statements or to reflect the occurrence of anticipated or
unanticipated events.