EXHIBIT 99

                                  PRESS RELEASE
                       FIRST CENTRAL FINANCIAL CORPORATION

                               FOR RELEASE: March 5, 1998
                               CONTACT:     Andrew W. Attivissimo, President
                                            First Central Financial Corporation
                                            266 Merrick Road
                                            Lynbrook, NY  11563
                                            (516) 593-7070

         March 5, 1998 - First Central Financial Corporation announced today
that it has filed a voluntary petition pursuant to Chapter 11 of the United
States Bankruptcy Code. The case is pending before the Honorable Judge Marvin
Holland in the United States Bankruptcy Court for the Eastern District of New
York, docket no. 198-12848-352.

Except for historical information, this news release contains forward-looking
statements which involve unknown risks and uncertainties that may cause First
Central's actual results or outcomes to be materially different from those
anticipated and discussed herein.