May 23, 2003

Dear Member:

We are pleased to announce that Community First Bank is converting from the
mutual to the stock form of organization (the "Conversion"), upon the completion
of the conversion, Community First Bank will then become a wholly-owned
subsidiary of a new holding company, Community First Bancorp, Inc. In connection
with the Conversion, Community First Bancorp, Inc. is offering shares of its
common stock in a subscription offering pursuant to a Plan of Conversion.

Unfortunately, Community First Bancorp, Inc. is unable to either offer or sell
its common stock to you because the small number of eligible subscribers in your
jurisdiction makes registration or qualification of the common stock under the
securities laws of your jurisdiction impractical, for reasons of cost or
otherwise. Accordingly, this letter should not be considered an offer to sell or
a solicitation of an offer to buy the common stock of Community First Bancorp,
Inc.

However, as a member of Community First Bank, you have the right to vote on the
Plan of Conversion at the Special Meeting of Members to be held on June 24,
2003. Therefore, enclosed is a proxy card, a proxy statement (which includes the
Notice of the Special Meeting), a Prospectus (which contains information
incorporated into the proxy statement) and a return envelope for your proxy
card.

We invite you to attend the Special Meeting of Members on June 24, 2003.
However, whether or not you are able to attend the meeting, please complete the
enclosed proxy card and return it in the enclosed envelope.

Sincerely,

William M. Tandy
Chairman, President and Chief Executive Officer

THE SHARES OF COMMON STOCK BEING OFFERED ARE NOT SAVINGS ACCOUNTS OR DEPOSITS
AND ARE NOT INSURED OR GUARANTEED BY COMMUNITY FIRST BANCORP, INC., COMMUNITY
FIRST BANK, THE FEDERAL DEPOSIT INSURANCE CORPORATION, THE SAVINGS ASSOCIATION
INSURANCE FUND OR ANY OTHER GOVERNMENT AGENCY. THIS IS NOT AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY COMMON STOCK. THE OFFER IS MADE ONLY BY THE
PROSPECTUS.

May 23, 2003

Dear Friend:

We are pleased to announce that Community First Bank is converting from the
mutual to the stock form of organization (the "Conversion"). In connection with
the Conversion, Community First Bancorp, Inc., the newly-formed holding company
for Community First, is offering common stock in a subscription offering
pursuant to a Plan of Conversion.

Because we believe you may be interested in learning more about the merits of
Community First common stock as an investment, we are sending you the following
materials which describe the Offering.

PROSPECTUS: This document provides detailed information about the
Bank's operations and the proposed Offering of Community First Bancorp,
Inc. common stock.

STOCK ORDER AND CERTIFICATION FORM: This form is used to purchase stock
by returning it with your payment in the enclosed business reply
envelope. The deadline for ordering stock is 12:00 Noon, Madisonville,
Kentucky time, on June 17, 2003.

As a friend of the Bank, you will have the opportunity to buy common stock
directly from the Company in the Offering without paying a commission or fee. If
you have additional questions regarding the Conversion and Offering, please call
us at (XXX) XXX-XXXX Monday through Friday from 8:30 a.m. to 4:00 p.m., or stop
by the Stock Information Center located at 240 S Main Street, Madisonville,
Kentucky.

We are pleased to offer you this opportunity to become a shareholder of
Community First Bancorp, Inc.

Sincerely,

William M. Tandy
Chairman, President and Chief Executive Officer

May 23, 2003

Dear Member:

To accomplish this Conversion, we need your participation in an important vote.
Enclosed is a proxy statement describing the Plan of Conversion and your voting
and subscription rights. YOUR VOTE IS VERY IMPORTANT.

Enclosed, as part of the proxy materials, is your proxy card, the detachable
section on top of the order form having your name and address. This proxy card
should be signed and returned to us prior to the Special Meeting of Members to
be held on June 24, 2003. Please take a moment now to sign the enclosed proxy
card and return it to us in the postage-paid envelope provided. FAILURE TO VOTE
HAS THE SAME EFFECT AS VOTING AGAINST THE CONVERSION.

The Board of Directors believes the Conversion will offer a number of
advantages, such as an opportunity for depositors of Community First Bank to
become shareholders. Please remember:

> Your deposit accounts will continue to be insured up to the maximum legal
limit by the Federal Deposit Insurance Corporation ("FDIC").

> There will be no change in the balance, interest rate or maturity of any
deposit account or loan because of the Conversion.

> Members have a right, but not an obligation, to buy Community First
Bancorp, Inc. common stock and may do so without the payment of a
commission or fee before it is offered to the general public.

> Like all stock, shares of Community First Bancorp, Inc. common stock issued
in this offering will not be insured by the FDIC.

Enclosed is a prospectus containing a complete discussion of the stock offering.
We urge you to read this material carefully. If you are interested in purchasing
the common stock of Community First Bancorp, Inc. you must submit your Stock
Order and Certification Form and payment prior to 12:00 Noon, Kentucky time, on
June 17, 2003.

If you have additional questions regarding the offering, please call us at (xxx)
xxx-xxxx, Monday, through Friday, 8:30 AM to 4:00 PM, or stop by our Stock
Information Center located at 240 S Main Street in Madisonville.

Sincerely,

William M. Tandy
Chairman, President and Chief Executive Officer

May 23, 2003

Dear Prospective Investor:

We are pleased to announce that Community First Bank is converting from the
mutual to the stock form of organization (the "Conversion"). In connection with
the Conversion, Community First Bancorp, Inc., the newly-formed holding company
for Community First Bank, is offering common stock in a subscription and
community offering pursuant to a Plan of Conversion.

We have enclosed the following materials that will help you learn more about the
merits of Community First Bancorp, Inc. common stock as an investment. Please
read and review the materials carefully.

PROSPECTUS: This document provides detailed information about
operations at Community First Bank and a complete discussion on the
proposed stock offering.

We invite you and other local community members to become charter shareholders
of Community First Bancorp, Inc. Through this offering you have the opportunity
to buy stock directly Community First Bancorp, Inc. without a commission or a
fee.

If you have additional questions regarding the Conversion, please call us at
(xxx) xxx-xxxx, Monday through Friday, 8:30 AM to 4:00 PM, or stop by our Stock
Information Center located at 240 S Main Street in Madisonville.

Sincerely,

William M. Tandy
Chairman, President and Chief Executive Officer

[GRAPHIC OMITTED]
KEEFE, BRUYETTE & WOODS, INC.

May 23, 2003

To Members and Friends of
Community First Bank

- --------------------------------------------------------------------------------

Keefe, Bruyette & Woods, Inc., a member of the National Association of
Securities Dealers, Inc. ("NASD"), is assisting Community First Bank in
converting from the mutual to the stock form of organization which will then
become a wholly-owned subsidiary of a new holding company, Community First
Bancorp, Inc. In connection with the conversion, Community First Bancorp, Inc.
is offering shares of its common stock in a subscription and community offering
pursuant to a Plan of Conversion.

At the request of Community First Bancorp, Inc., we are enclosing materials
explaining this process and your options, including an opportunity to invest in
shares of Community First Bancorp, Inc. common stock being offered to customers
of Community First Bank and various other persons until 12:00 Noon, Kentucky
time, on June 17, 2003. Please read the enclosed offering materials carefully,
including the Prospectus, for a complete description of the stock offering.
Community First Bancorp, Inc. has asked us to forward these documents to you in
view of certain requirements of the securities laws in your state.

If you have any questions, please visit our Stock Information Center located at
240 S Main Street in Madisonville, Monday through Friday, 8:30 AM to 4:00 PM, or
feel free to call the Stock Information Center at (xxx) xxx-xxxx.

Very truly yours,

Keefe, Bruyette & Woods, Inc.

- --------------------------------------------------------------------------------

PROXY GRAM

PLEASE VOTE TODAY...

We recently sent you a proxy statement and related materials regarding a
proposal to convert Community First Bank from a mutual savings institution to a
stock savings institution.

Your vote on the Plan of Conversion has not yet been received.

Voting for the Conversion does not obligate you to purchase stock
and will not affect your accounts or FDIC Insurance.

Not Returning Your Proxy Cards has the Same Effect as
Voting "Against" the Conversion...and

Your Board of Directors Unanimously Recommends a Vote "FOR" the Conversion.

Your Vote Is Important To Us!
-----------------------------

Please sign the enclosed proxy card and return it in the postage-paid envelope
provided TODAY! If you received more than one proxy card, please be sure to sign
and return all cards you received.

Thank you,

William M. Tandy
Chairman, President and Chief Executive Officer
Community First Bank
Madisonville, Kentucky

If you have already mailed your proxy card(s),
please accept our thanks and disregard this notice.
For further information call (xxx)xxx-xxxx.

- --------------------------------------------------------------------------------

THE SHARES OF COMMON STOCK BEING OFFERED ARE NOT SAVINGS ACCOUNTS OR DEPOSITS
AND ARE NOT INSURED OR GUARANTEED BY COMMUNITY FIRST BANCORP, INC., COMMUNITY
FIRST BANK THE FEDERAL DEPOSIT INSURANCE CORPORATION, THE SAVINGS ASSOCIATION
INSURANCE FUND OR ANY OTHER GOVERNMENT AGENCY. THIS IS NOT AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY COMMON STOCK. THE OFFER IS MADE ONLY BY THE
PROSPECTUS.

- --------------------------------------------------------------------------------

PROXY GRAM

PLEASE VOTE TODAY...

We recently sent you a proxy statement and related materials regarding a
proposal to convert Community First Bank from a mutual savings institution to a
stock savings institution.

Your vote on the Plan of Conversion has not yet been received.

Voting for the Conversion does not obligate you to purchase stock
and will not affect your accounts or FDIC Insurance.

Not Returning Your Proxy Cards has the Same Effect as
Voting "Against" the Conversion...and

Your Board of Directors Unanimously Recommends a Vote "FOR" the Conversion.

Our Reasons for the Corporate Change
------------------------------------

As a Mutual Institution:
- ------------------------
- - There is no authority to issue capital stock and thus no access to this
market source of equity capital.
- - Earnings from year to year are the only source of generating capital.

As a Stock Institution we will be able to:
- ------------------------------------------
- - Be organized in the form used by commercial banks and most savings
institutions.
- - Have the flexibility to raise new equity capital at times deemed
advantageous by the Board.
- - Support future growth and expanded operations, including increased lending.
- - Better address the needs of the communities we serve thought he
establishment of additional banking offices.
- - More easily make acquisitions and expand into new businesses.
- - Establish stock compensation plans to provide an equity interest in the
institution and greater incentive to improve its performance.

Your Vote Is Important To Us!
-----------------------------

Please sign the enclosed proxy card and return it in the postage-paid envelope
provided TODAY! If you received more than one proxy card, please be sure to sign
and return all cards you received.

Thank you,

William M. Tandy
Chairman, President and Chief Executive Officer
Community First Bank

If you have already mailed your proxy card(s),
please accept our thanks and disregard this notice.
For further information call (xxx) xxx-xxxx.

- --------------------------------------------------------------------------------

{logo} Community First Bank

May 23, 2003

Dear Valued Community First Bank Member:

We recently forwarded you a proxy statement and related materials regarding a
proposal to convert Community First Bank from a mutual savings institution to a
stock savings institution. This conversion will allow us to operate in
essentially the same manner as we currently operate, but provides us with the
flexibility to add capital, continue to grow and expand the bank, add new
products and services, and increase our lending capability.

As of today, your vote on our Plan of Conversion has not yet been received. Your
Board of Directors unanimously recommends a vote "FOR" the Plan of Conversion.
If you mailed your proxy, please accept our thanks and disregard this request.

We would sincerely appreciate you signing the enclosed proxy card and returning
it promptly in the enclosed postage-paid envelope or dropping it off at your
Community First Bank branch. Our meeting on June 24th is fast approaching and
we'd like to receive your vote as soon as possible.

Voting FOR the Conversion does not affect the terms or insurance on your
accounts. For further information call our Information Center at (xxx) xxx-xxxx.

Best regards and thank you,

William M. Tandy
Chairman, President and Chief Executive Officer

- --------------------------------------------------------------------------------

YOU ARE CORDIALLY INVITED
to a Community Investors Meeting

to learn more about the Conversion of
Community First Bank and the stock offering of

Community First Bancorp, Inc.

Senior executives of Community First Bank and its investment bankers will
present information and answer your questions about the Plan of Conversion and
prospectus, as well as about the business and operations of Community First.

-------------------------------------------------------

DATE AND LOCATION DATE AND LOCATION

-------------------------------------------------------

There will be a Registered Representative
at the following location at the times noted.

--------------------------------------
Stock Information Center
240 South Main Street
Madisonville, KY

Monday - Friday 8:30 a.m. to 4:00 p.m.
(xxx) xxx-xxxx
--------------------------------------

- --------------------------------------------------------------------------------

- --------------------------------------------------------------------------------
Community First Bancorp, Inc.

Community Meeting

May xx, 2003

- --------------------------------------------------------------------------------

LOCATION
- --------

Address:
240 South Main Street
Madisonville, KY 42431

[MAP OMITTED]

Management of Community First

o William Tandy, President and CEO

o Marilyn Locke, Vice President & Operations Officer

o Michael Wortham, Vice President

Total Assets
($000)

12/31/2001 $29,530
12/31/2002 $29,968

Asset Mix

At December 31, 2002
--------------------

Loans, net 86%
Investment Securities 6%
Cash and cash equivalents 3%
FHLB Stock 2%
Other 3%

Loans Receivable, Net
($000)

12/31/2001 $22,158
12/31/2002 $25,710

Loan Portfolio

At December 31, 2002
--------------------

First Mortgage Loans 91.7%
Second Mortgage Loans 2.2%
Consumer Installment Loans 6.0%
Other 0.1%

Total Deposits
($000)

12/31/2001 $26,611
12/31/2002 $28,128

Equity Capital
($000)

12/31/2001 $1,838
12/31/2002 $1,749

Total Equity to Total Assets

12/31/2001 6.22%
12/31/2002 5.84%

Regulatory Capital

Tangible
--------
Actual 5.8%
Requirement 1.5%
Excess 4.3%

Core
----
Actual 5.8%
Requirement 4.0%
Excess 1.8%

Risk-based
----------
Actual 11.1%
Requirement 8.0%
Excess 3.1%

Net Loss
(000s)

12/31/2001 -$125
12/31/2002 -$ 84

Return on Average Assets

12/31/2001 -0.43%
12/31/2002 -0.28%

Return on Average Equity

12/31/2001 -4.50%
12/31/2002 -6.41%

Net Interest Margin

12/31/2001 2.94%
12/31/2002 3.54%

Pro Forma Data

Minimum Midpoint Maximum Maximum of
of Range of Range of Range Range (adj.)
-------- -------- -------- ------------

Shares Sold in Offering $148,750 175,000 201,250 231,438

Sale Price Per Share $10.00 $10.00 $10.00 $10.00

Gross Proceeds $1,487,500 $1,750,000 $2,012,500 $2,314,380

Pro Forma
Stockholders' Equity $2,892,000 $3,144,000 $3,397,000 $3,688,000

Pro Forma
Stockholders' Equity per Share $19.44 $17.96 $16.88 $15.93

Price/Book Ratio 51.47% 55.68% 59.28% 62.77%

Pro Forma Net Income per Share (0.55) (0.46) (0.40) (10.39)

Price/Earnings Ratio NA NA NA NA

* Information based upon assumptions in the Prospectus under "Pro Forma Data".
(a) This is not intended to represent potential price appreciation. There are no
assurances that the market price will be at or above the offering price once
the shares are issued.

Preference Categories

1. Eligible Account Holders - Depositors with $50 or more on deposit as of
December 31, 2001.

2. Tax Qualified Employee Stock Ownership Plans - Do not currently intend to
implement

3. Supplemental Eligible Account Holders - Depositors with $50 or more on
deposit as of March 31, 2003.

1 Other Members at May __, 2003

1 Local Community - Hopkins County

1 General Community

We thank you for your interest in

Community First Bancorp, Inc.