EXHIBIT 99.1 PRESS RELEASE FOR IMMEDIATE RELEASE CONTACT: Anderson L. Smith, President and CEO Tel: (423) 586-8421 JEFFERSON BANCSHARES, INC. -------------------------- ANNOUNCES DATE OF ANNUAL MEETING -------------------------------- Morristown, Tennessee -- October 2, 2003. Jefferson Bancshares, Inc. (Nasdaq: JFBI), announced today that the Corporation's annual meeting of shareholders will be held on Thursday, January 8, 2004. Jefferson Bancshares, Inc. is the holding company for Jefferson Federal Bank headquartered in Morristown, Tennessee.