William P. Morrissey Immediately SENIOR VICE PRESIDENT (617) 628-4000 CENTRAL BANCORP REPORTS NAMING OF NEW CHIEF FINANCIAL OFFICER SOMERVILLE, MASSACHUSETTS, October 21, 2004-- Central Bancorp, Inc. (NASDAQ: CEBK) today reported that Michael K. Devlin, the Senior Vice President, Treasurer and Chief Financial Officer of Central Bancorp and its wholly owned subsidiary, Central Bank, has resigned, effective October 18, 2004, in order to pursue other interests. Effective October 21, 2004, the Board of Directors appointed Paul S. Feeley, who currently serves as Senior Vice President and Chief Information Officer of Central Bancorp and Central Bank, to serve as the new Treasurer and Chief Financial Officer of Central Bancorp and Central Bank. 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 one limited-service high school branch in suburban Boston.