NASB Financial, Inc.

                     NEWS RELEASE

Contact:  Rhonda Nyhus
          Vice President and Treasurer
          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 (January 24, 2006) - At its board meeting on
January 24, 2006, the Board of Directors of NASB Financial, Inc.
(NASDAQ:NASB), declared a cash dividend on common stock of $0.225 per share,
payable on February 24, 2006, to stockholders of record February 3, 2006.
     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 and Leawood, Kansas.

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