Press Release

Southern Missouri Bancorp, Inc. Announces New Stock Repurchase Program

Company Release - 4/22/2004

POPLAR BLUFF, Mo.--(BUSINESS WIRE)--April 22, 2004--Southern Missouri Bancorp, Inc. ("Southern Missouri") (NASDAQ:SMBC), parent company of Southern Missouri Bank & Trust Co., announced its intention to repurchase an additional 115,000 shares of its own common stock, or approximately 5% of its 2.3 million outstanding common shares. The shares will be purchased at prevailing market prices in the open market or in privately negotiated transactions over the next twelve months, subject to availability and general market conditions. Repurchased shares will be held as treasury shares to be used for general corporate purposes.

The Company, through its banking subsidiary, provides a wide array of financial services to Southeastern Missouri through its main office located in Poplar Bluff and six other full-service facilities located in Poplar Bluff, Dexter, Qulin, Kennett, Doniphan and Van Buren, Missouri.

    CONTACT: Southern Missouri Bancorp, Inc.
             Greg A. Steffens, President, 573-785-1421

    SOURCE: Southern Missouri Bancorp, Inc.