BUCS FINANCIAL CORP


FOR IMMEDIATE RELEASE                           FOR FURTHER INFORMATION CONTACT:
- ---------------------                           --------------------------------
December 22, 2003 (8:15 pm)
BUCS Financial Corp                             Contact: Mr. Herbert J. Moltzan
10455 Mill Run Circle                                    President and CEO
Owings Mills, Maryland                                   (410) 998-5304




                BUCS FINANCIAL CORP ANNOUNCES 10% STOCK DIVIDEND

         Owings Mills,  Maryland -- BUCS Financial Corp,  parent holding company
of BUCS Federal Bank,  Columbia,  Maryland,  today  announced that the Company's
Board of Directors  had  declared a 10% stock  dividend.  The stock  dividend is
payable on January 31, 2004 to stockholders of record as of January 15, 2003.

         Herbert J. Moltzan,  President of the Company, stated that the Board of
Directors  "was very  pleased  to declare  this  dividend  as another  method to
increase shareholder value in the Company and also increase the liquidity of the
stock. As a result of the Board's action today,  the  outstanding  shares of the
Company's  common  stock will  increase by  approximately  36,458  shares,  from
364,585 shares outstanding to 401,043 shares outstanding."

         The Company  conducts  its  business  through its main office in Owings
Mill, Maryland and its branch offices in Columbia, Maryland. As of September 30,
2003,  the Company had total assets and  stockholders'  equity of $117.3 million
and  $9.8  million,   respectively.   The  Company's  stock  is  traded  on  the
Over-the-Counter  Market  under the  symbol  "BUCS"  with  quotations  available
through the OTC Electronic Bulletin Board.



         This release may contain  forward-looking  statements.  We caution that
such statements may be subject to a number of  uncertainties  and actual results
could differ materially and, therefore,  readers should not place undue reliance
on any forward-looking  statements.  BUCS Financial Corp does not undertake, and
specifically  disclaims,  any obligation to publicly  release the results of any
revisions  that may be made to any  forward-looking  statements  to reflect  the
occurrence of anticipated or  unanticipated  events or  circumstances  after the
date of such statements.