NASB Financial, Inc.

                     NEWS RELEASE

Contact:  Keith B. Cox
          President
          NASB Financial, Inc.
          12498 South 71 Highway
          Grandview, MO  64030
          Phone (816) 765-2200


FOR IMMEDIATE RELEASE:  NASB Financial, Inc. Declares Cash
Dividend on Common Stock

Grandview, Missouri (July 29, 2003) - At its board meeting
on July 29, 2003, the Board of Directors of NASB Financial, Inc.
(NASDAQ:NASB), declared a cash dividend on common stock of $0.17
per share, payable on August 29, 2003, to stockholders of record August
8, 2003.

NASB Financial, Inc. is a unitary thrift holding company for North
American Savings Bank, F.S.B. ("North American" or the "Bank").
North American operates five offices in greater Kansas City,
Missouri and others in Harrisonville, St. Joseph, and Excelsior
Springs, Missouri.  The Bank also has loan origination offices in
Lee's Summit, Springfield, St. Charles, and St. Louis, Missouri as
well as Overland Park, Leawood, and Lawrence, Kansas.

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