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PRESS RELEASE

BOSTONFED BANCORP, INC. ANNOUNCES PARTICIPATION AT THE KEEFE, BRUYETTE & WOODS,
INC. EASTERN REGIONAL BANK SYMPOSIUM.

Monday March 1, 2004

Burlington, Mass., - BostonFed Bancorp, Inc. (AMEX- BFD) (the "Company"), the
parent of Boston Federal Savings Bank, a federally-chartered stock savings bank,
announced that David F. Holland, President and CEO, and John A. Simas, Executive
Vice President and CFO, will be speaking at approximately 9:45 a.m. on March 4,
2004, at the Keefe, Bruyette & Woods, Inc., ("KBW") Eastern Regional Bank
Symposium at the Langham Hotel, Boston, Massachusetts. For webcast information
and access, please refer to KBW's website at www.KBW.com. Webcast related
questions should be directed to Mr. David Brumley at KBW, telephone number
(212)-887-6730.

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 that
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.

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