MFBP M and F Bancorp Inc (PK)

M&F Bancorp, Inc. (OTCBB: MFBP) today announced that its Board of Directors approved a five-cent ($0.05) per share quarterly dividend. Each shareholder of record as of the close of business on October 2, 2008 is entitled to receive $0.05 for each share of common stock held at the close of business on this date. The payment date is Thursday, October 9, 2008. M&F Bancorp, Inc., a bank holding company with assets of approximately $ 272.6 million as of June 30, 2008, is the parent company of Mechanics and Farmers Bank. The Company's common stock is quoted in the over-the-counter market through the OTC Bulletin Board under the symbol �MFBP.� For additional information contact M&F Bank Corporate Headquarters, 2634 Durham Chapel Hill Blvd., Durham, North Carolina at 919-687-7800, or visit www.mfbonline.com. This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Company and M&F Bank. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management of the Company and M&F Bank and on the information available to management at the time that these disclosures were prepared. These statements can be identified by the use of words like �expect,� �anticipate,� �estimate� and �believe,� variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Neither the Company nor M&F Bank undertakes an obligation to update any forward-looking statements. Additional information is detailed in the Company�s filings with the Securities and Exchange Commission, and is available at www.sec.gov.