PRESS RELEASE


                            NEBS BANCSHARES ANNOUNCES
                      COMPLETION OF COMMUNITY OFFERING AND
                                APPROVAL OF PLAN

         Enfield, Connecticut, December 22, 2005 - NEBS Bancshares, Inc. (the
"Company"), the proposed stock holding company for Enfield Federal Savings and
Loan Association (the "Association"), today announced that the community
offering in connection with the Association's conversion from the mutual holding
company form of organization to a fully-publicly owned stock holding company
structure (the "second-step conversion") has concluded. The subscription
offering, which was open only to eligible depositors and certain borrowers of
the Association, concluded on December 13, 2005.

         The Company also announced that the Plan of Conversion and
Reorganization, as amended and restated (the "Plan"), was approved by the
members of Enfield Mutual Holding Company and by the stockholders of New England
Bancshares, Inc. (OTC Bulletin Board: NEBS - News) at their respective special
meetings held yesterday.

         The stock offering is being conducted pursuant to the Plan and the
other terms and conditions outlined in the Company's prospectus dated November
14, 2005. Completion of the second-step conversion and the related stock
offering remains subject to confirmation of the Company's existing independent
appraisal and receipt of final regulatory approvals.

THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE
COMMON STOCK. THE OFFERING IS MADE ONLY BY THE PROSPECTUS OF NEBS BANCSHARES,
INC.

CONTACT:

NEBS Bancshares, Inc.
Scott Kosik, 860-253-4325
Stock Information Center