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 2-FOR-1 STOCK SPLIT

Harrison, Arkansas - December 8, 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 on November 25, 2003
declared a two for one stock split on the common stock of the Corporation
payable on December 31, 2003 to the stockholders of record at the close of
business on December 17, 2003.

The purpose of the stock split, which will be in the form of a stock dividend
of one share for each share held on December 17, 2003, is to increase the
number of outstanding shares and the liquidity of the Corporation's common
stock.  As of December 8, 2003, the Corporation had approximately 2.67 million
shares of common stock outstanding.  Certificates for the new shares will be
issued on or about December 31, 2003.

Larry J. Brandt, President/CEO of the Corporation, stated, "This split is
intended to improve the liquidity for the Corporation's common stock and
create further interest in and awareness of our common stock.  In addition,
our stock has experienced a significant increase in market valuation over the
last year and the stock split will lower the market price and make our common
stock more affordable.  We believe this stock split further demonstrates our
commitment to enhancing shareholder value."

The Bank, in its 69th year, conducts business from 16 offices in the
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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