FSF Financial Corp.       Contact:  Donald A. Glas, Chief Executive Officer
                                    George B. Loban, President
                                    Richard H. Burgart, Chief Financial Officer
                                    (320) 234-4500

                                    For Immediate Release
                                    May 9, 2003

                FSF Financial Corp. Announces Change in Auditors
                ------------------------------------------------

     Hutchinson,  Minnesota  (NASDAQ - "FFHH")  -- FSF  Financial  Corp.,  whose
family of companies include First Federal Bank, Firstate Investments,  Insurance
Planners of Hutchinson  and  Homeowners  Mortgage  Corporation,  announced  that
Larson,  Allen,  Weishair & Co.,  LLP,  has  notified  the Company and all other
clients that are SEC registrants of their intention to withdraw as auditor, upon
completion of their review for the quarter  endied March 31, 2003.  The decision
to  withdraw  is not a result of any  disagreements  with  management  nor is it
related to any fee based issues.  Larson,  Allen,  Weishair has made a strategic
decision to withdraw  from SEC work as a result of the  stipulations  associated
with the Sarbanes-Oxley  Act.  Following requests for proposals,  interviews and
additional due-diligence, Sever B. Knutson, Chair of FSF Financial Corp.'s audit
committee  announced  the  engagement  of Crowe  Chizek and Company LLP, One Mid
America Plaza, Oak Brook, Illinois,  beginning with the quarterly review for the
period ended June 30, 2003.

     FSF Financial  Corp., a financial  services  company,  has four  affiliated
companies.  First  Federal  Bank is a federally  chartered  stock  savings  bank
headquartered in Hutchinson, Minnesota. The Bank has thirteen offices located in
Hutchinson  (2),  Hastings,  Apple  Valley,  Buffalo,  Glencoe,  Inver Grove (2)
Heights, Litchfield, St. Cloud, Waconia, Waite Park and Winthrop, Minnesota. The
Federal Deposit Insurance Corporation federally insures the Bank's deposits. The
Bank is a  community-oriented,  full service  retail bank  offering a variety of
deposit  and  loan  products.   Homeowners   Mortgage   Corporation   originates
residential  mortgage  loans  from  offices  in Vadnais  Heights  and  Hastings,
Minnesota.  Firstate  Investments provide non-insured  financial products in two
locations.  Insurance  Planners of Hutchinson,  Inc., is a property and casualty
insurance agency with two locations. The Corporation's common stock is traded on
the Nasdaq National Market under the symbol "FFHH".

                                    -- END --