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                                 EXHIBIT INDEX


Exhibit 99.1            Press Release issued by First Bell Bancorp, Inc. on
                        October 13, 1999.




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                                           FIRST BELL BANCORP, INC.



                    300 delaware avenue, suite 1704, wilmington, delaware 19801



NEWS
RELEASE

FOR IMMEDIATE RELEASE

CONTACT:    ALBERT H. ECKERT, II
            PRESIDENT AND CEO
            PHONE:  (412) 734-2700



                FIRST BELL BANCORP, INC., ANNOUNCES COMPLETION
                 OF ITS SIXTH STOCK REPURCHASE PROGRAM AND THE
              COMMENCEMENT OF A SEVENTH STOCK REPURCHASE PROGRAM

WILMINGTON,  DELAWARE,  OCTOBER 13, 1999 - First Bell  Bancorp,  Inc.  (NASDAQ -
"FBBC") today  announced the  completion of its Sixth Stock  Repurchase  Program
which was initiated on April 9, 1999.  Under the Sixth Repurchase  Program,  the
Company  purchased  585,651  shares of its common  stock at an average  price of
$18.88.

In addition,  the Company is pleased to announce that the Board of Directors has
adopted a Seventh Stock Repurchase Plan. Under the new program, the Company will
repurchase up to 5% or 264,978 shares of Common Stock through  registered broker
dealers.  The  repurchase  program will be  completed  prior to October 1, 2000,
subject to the availability of stock.

Albert H.  Eckert,  II,  President  and Chief  Operating  Officer of the Company
stated, "The Board of Directors believes that this repurchase program provides a
prudent  long-term  opportunity  for the Company,  while  enhancing  shareholder
value.  The return on equity  and price to  earnings  ratio of the common  stock
makes an investment in the common stock a better use of the Company's funds than
certain other investment opportunities."

Additional  information  on  First  Bell  Bancorp, Inc. and its subsidiary, Bell
Federal Savings and Loan Association of Bellevue, can be found on the world wide
web at www.bellfederalsavings.com.