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
                                   September 22, 1999

                         FSF FINANCIAL CORP. ANNOUNCES
                              Stock Repurchase Plan

        Hutchinson,   Minnesota  -  September  22,  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 260,000 shares, approximately 10% of the outstanding shares, of
the  Corporation's  Common Stock. The shares will be purchased in open market or
privately  negotiated  transactions  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  and
Hastings,   Minnesota.   The  Corporation's   common  stock  is  traded  in  the
over-the-counter market on the NASDAQ National Market under the symbol "FFHH".