KFED K-Fed Bancorp (MM)

K-Fed Bancorp (Nasdaq:KFED) announced today that on April 24, 2010 its Board of Directors declared a quarterly cash dividend of $0.11 per share on its common stock. The dividend will be paid on May 26, 2010 to the shareholders of record as of the close of business on May 10, 2010.

K-Fed Mutual Holding Company, the parent company of K-Fed Bancorp which holds 8,861,750 of the outstanding shares of K-Fed Bancorp, waived its receipt of the dividend.

K-Fed Bancorp is the parent corporation for Kaiser Federal Bank, a federally chartered savings association headquartered in Covina, California. The Bank operates three full service branches and six financial service centers in California, as well as a statewide network of 57 ATMs.

K-Fed Bancorp stock trades on NASDAQ under the KFED symbol. For additional information, visit www.k-fed.com or www.kaiserfederal.com.

CONTACT:  K-Fed Bancorp

          K. M. Hoveland, President/CEO

          Dustin Luton, Chief Financial Officer

          (626) 339-9663