EXHIBIT 99.1



FIRST                                                                      FOR
FEDERAL                                                              IMMEDIATE
BANCSHARES                                                             RELEASE
1401 Highway 62-65 North
P. O. Box 550
Harrison, AR  72601                           FOR FURTHER INFORMATION CONTACT:
                                                 Larry J. Brandt/President-CEO
                                                      Tommy Richardson/EVP-COO
                                                       Sherri Billings/EVP-CFO
                                                                  870-741-7641


              FIRST FEDERAL BANCSHARES OF ARKANSAS, INC.
                 ANNOUNCES A QUARTERLY CASH DIVIDEND

Harrison, Arkansas - November 25, 2003 - (NASDAQ NMS:FFBH) First Federal
Bancshares of Arkansas, Inc. (the "Corporation"), a unitary savings and loan
holding company for First Federal Bank of Arkansas, FA (the "Bank") announced
today that its Board of Directors at their meeting this morning, declared an
$.18 (eighteen cent) cash dividend on the common stock of the Corporation
payable on December 19, 2003 to the stockholders of record at the close of
business on December 5, 2003.

Larry J. Brandt, President/CEO of the Corporation, stated, "This will be our
28th consecutive cash dividend.  Our strong capital base and continued
profitability afford us the opportunity to pay another consecutive quarterly
cash dividend.  Such action demonstrates our commitment to and confidence in
our future prospects."

The Bank, in its 69th year, conducts business from 16 offices in Northcentral
and Northwest Arkansas.  At September 30, 2003, the Corporation had total
assets of $695.8 million, total liabilities of $622.2 million and stockholders'
equity of $73.6 million.




















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