EXHIBIT 99






                                  PRESS RELEASE

                            TF FINANCIAL CORPORATION
                   3 Penns Trail, Newtown, Pennsylvania 18940


Contacts:         John R. Stranford, President
Phone:            (215) 579-4000
Fax:              (215) 579-4748


                                                           For Immediate Release
                                                                  April 29, 1999

        TF FINANCIAL CORPORATION ANNOUNCES RESULTS OF ANNUAL MEETING OF
          STOCKHOLDERS AND APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

         Newtown, Pennsylvania,  April 29, 1999 -- TF Financial Corporation (the
"Corporation")  (NASDAQ:  THRD),  the holding  company for Third Federal Savings
Bank, announced the results of voting at its 1999 annual meeting of stockholders
held yesterday.  At the meeting,  stockholders  reelected John R. Stranford as a
director of the Corporation for a three-year term. In addition,  stockholders of
the Corporation voted overwhelmingly to reject two stockholder proposals, one to
repeal  or  amend  several  anti-takeover   provisions  of  the  certificate  of
incorporation  and bylaws of the  Corporation  and another to recommend that the
Board of Directors  take the necessary  steps to achieve a sale or merger of the
Corporation on terms that will maximize stockholder value.

         In addition,  the Corporation  announced that Mr. Dennis R. Stewart,  a
certified  public  accountant  and formerly  Executive  Vice President and Chief
Financial  Officer of a $700  million  asset thrift  located in Virginia  Beach,
Virginia,  has been appointed Senior Vice President and Chief Financial  Officer
of the  Corporation  following the  resignation  of the  Company's  former Chief
Financial Officer.

         Third Federal Savings Bank is  headquartered  in Newtown,  Pennsylvania
and  operates  in  Pennsylvania  and New Jersey  through  its main office and 14
branch  offices.  The Bank's  deposits are insured up to maximum legal limits by
the Federal Deposit Insurance  Corporation (FDIC). The Company's stock is traded
under the symbol "THRD" on the NASDAQ Stock Market.