EXHIBIT 99








                              FIRST FEDERAL FLORIDA

                                  NEWS RELEASE

                                 205 East Orange Street, Lakeland, Florida 33801
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For Immediate Release                                Contact:  Ms. Terry Jameson
                                                       (941) 688-6811, ext. 1461

         April 5, 1999



                    MEMBERS OF FIRST FEDERAL FLORIDA APPROVE
                        REORGANIZATION AND STOCK OFFERING


         Lakeland, Florida ....First Federal Florida announced that on March 29,
         1999 it received  the  approval of its members to  reorganize  into the
         two-tier  mutual holding  company  structure and sell 47 percent of the
         stock of the mid-tier stock holding company,  FloridaFirst  Bancorp, to
         the public.  The offering was  oversubscribed  in the first  preference
         category, persons with deposit accounts on June 30, 1997. First Federal
         is in the process of allocating shares among those persons.  Except for
         First  Federal's  employee stock  ownership  plan, no persons  ordering
         stock in any other preference category will receive shares.

                  The stock will trade on the NASDAQ  National  Market under the
         symbol "FFBK." First Federal  anticipates that trading will commence on
         Wednesday, April 7, 1999. For further information call (941) 802-1356.

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