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                        LEXINGTON B & L FINANCIAL CORP.
                       ANNOUNCES DATE OF ANNUAL MEETING

      Lexington,  Missouri -- November 11, 1999. Lexington B & L Financial Corp.
(Nasdaq SmallCap: LXMO) announced today that the Corporation's annual meeting of
stockholders will be held on Wednesday, January 26, 2000. Stockholders of record
as of the close of  business  on  December 7, 1999 will be entitled to notice of
and to vote at the annual meeting.

      Lexington B & L Financial  Corp. is the holding company for B & L Bank and
Lafayette County Bank headquartered in Lexington, Missouri.


Contact:    E. Steva Vialle
            Executive Vice President and
              Chief Operating Officer
            (660) 259-2247