EXHIBIT  99
FSF Financial Corp.         Contact: Donald A. Glas, Chief Executive Officer
Hutchinson, Minnesota                (320) 234-4500
                                     George B. Loban, President
                                     (320) 234-4500
                                     Richard H. Burgart, Chief Financial Officer
                                     (320) 234-4500

                                     For Immediate Release
                                     March 9, 1999

                          FSF FINANCIAL CORP. ANNOUNCES
                              Stock Repurchase Plan

         Hutchinson,  Minnesota - March 9, 1999 --  (NASDAQ:FFHH)  FSF Financial
Corp., whose direct  subsidiaries  include First Federal fsb, Insurance Planners
of Hutchinson, Inc., Hutchinson,  Minnesota and Homeowners Mortgage Corporation,
Vadnais Heights,  MN, announced a common stock repurchase plan.  Donald A. Glas,
Chief  Executive  Officer  of FSF  Financial  Corp.,  announced  today  that the
Corporation's  Board of Directors has authorized the repurchase of up to 170,000
or 6% of the  shares of the  Corporation's  Common  Stock.  The  shares  will be
purchased in open market transactions or privately  negotiated from time to time
during the next twelve months,  subject to the discretion of management pursuant
to the terms of the stock repurchase plan.

        First   Federal  fsb  is  a   federally-chartered   stock  savings  bank
headquartered in Hutchinson,  Minnesota.  The Bank has eleven offices located in
Hutchinson (2), Hastings,  Apple Valley, Buffalo,  Glencoe, Inver Grove Heights,
Litchfield, Waconia, Waite Park and Winthrop, Minnesota. The Bank's deposits are
federally-insured  by the Federal Deposit Insurance  Corporation.  The Bank is a
community- oriented,  full service retail bank offering a variety of deposit and
loan products. Insurance Planners of Hutchinson, Inc. is a property and casualty
insurance  agency located in Hutchinson,  Minnesota.  Homeowners  Mortgage Corp.
originates residential mortgage loans from offices in Vadnais Heights,  Hastings
and  Mankato,  Minnesota.  The  Corporation's  common  stock  is  traded  in the
over-the-counter market on the NASDAQ National Market under the symbol "FFHH".