HopFed Bancorp, Inc.
Hopkinsville, Kentucky

                                               Contact:  Bruce Thomas, President
                                                                  (270) 885-1171

                                                        Date:  December 15, 1999

FOR IMMEDIATE RELEASE
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                              HOPFED BANCORP, INC.
                              DECLARES DIVIDEND AND
                           ANNOUNCES ESOP TERMINATION

     Hopkinsville,  Kentucky - HopFed  Bancorp,  Inc.  (Nasdaq:  HFBC) announced
today that the Board of Directors has declared the Company's quarterly dividend.
The cash dividend of $0.075 per share,  payable to  stockholders of record as of
December 31, 1999, will be paid on January 14, 2000.

     Bruce Thomas,  President of the Company, stated that the Board of Directors
determined  that the payment of the  dividend  was  appropriate  in light of the
Company's capital position.  He noted that any future dividends will depend upon
the Company's financial condition, earnings, equity structure, capital needs and
regulatory requirements, as well as economic conditions.

     The Board of Directors also  announced that it has approved  termination of
the Company's Employee Stock Ownership Plan (ESOP), effective December 31, 1999.
Mr.  Thomas stated that the Board of Directors  determined  that this was in the
Company's best interests because of the ESOP's annual maintenance expenses.  For
the year ending  December 31, 1999,  the  maintenance  expenses for the ESOP are
expected  to be  approximately  $437,000,  and the  Company  expects  to incur a
one-time ESOP termination expense of approximately $2.5 million.  Termination of
the ESOP and  distribution  to  participants  of its  assets are  contingent  on
receipt  of an  Internal  Revenue  Service  determination  that the ESOP will be
tax-qualified upon its termination,  as well as compliance with other applicable
regulatory requirements.

     HopFed  Bancorp,  Inc. is the  holding  company  for  Hopkinsville  Federal
Savings Bank,  which conducts  business through its main office in Hopkinsville,
Kentucky and branch offices in Hopkinsville, Murray, Cadiz and Elkton, Kentucky.