EXHIBIT 99.1



                       [CENTRAL BANCORP, INC. LETTERHEAD]




CONTACT:      William P. Morrissey                   FOR RELEASE:  Immediately
              Senior Vice President


                CENTRAL BANCORP ANNOUNCES AGREEMENT TO REPURCHASE
                                PL CAPITAL SHARES


       Central Bancorp  announced today that it and its Employee Stock Ownership
Plan  have  entered  into  an  agreement  to  acquire  from PL  Capital  LLC and
affiliates 154,268 shares of Central Bancorp's common stock at a price of $33.25
per share. Under the agreement, Central Bancorp will repurchase 77,134 of the PL
Capital shares, which will no longer be outstanding and will be held as treasury
stock. The ESOP will purchase PL Capital's  remaining 77,134 shares.  The shares
to be acquired  collectively  represent  approximately 9.3% of Central Bancorp's
outstanding shares.  Completion of the transaction is subject to the issuance by
Central Bancorp of approximately $5.1 million of trust preferred  securities and
other conditions.

       Central  Bancorp,  Inc. is the holding  company for Central  Bank,  whose
legal name is Central Co-operative Bank, a Massachusetts-chartered  co-operative
bank operating  eight  full-service  banking  offices and a limited service high
school branch in suburban Boston.