Rainier Pacific Bank (Rainier Pacific Financial Group, Inc.) (NASDAQ:RPFG) announced today it will open its newest branch location in Federal Way on July 17, 2006. This will be Rainier Pacific's fourteenth branch overall. The new branch office, managed by Lisa Timpane, will offer a full range of consumer and business banking services including checking accounts, home equity loans, mortgage loans money markets, auto loans, and CDs. In addition, the branch will offer customers 24-hour drive-through ATM access and convenient lobby hours including extended hours of 9:00 a.m. to 3:00 p.m. on Saturdays.

"The Federal Way area has been expanding at an exceptional rate; this will be Rainier Pacific's third branch in the area. We believe our new branch in the Crossings shopping center will provide the community with another convenient branch location along with enhanced banking services for both Business and Consumers," says Dalen Harrison, Vice President of Retail Administration.

Rainier Pacific Financial Group is the bank holding company for Rainier Pacific Bank, a Tacoma, Washington based state-chartered savings bank, operating 14 branch offices in the Tacoma-Pierce County and Federal Way areas.

For additional information, visit Rainier Pacific's website at www.rainierpac.com.

Forward-looking statements:

This press release may contain certain forward-looking statements and information relating to the Company that are based on the beliefs of management, as well as assumptions made by and information currently available to management. The words "anticipate," "believe," "estimate," "expect," "indicate" "intend," "should," and similar expressions, or the negative thereof, as they relate to the Company or the Company's management, are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events that are subject to certain risks and uncertainties that may cause actual results to vary. The Company does not intend to update these forward-looking statements.