GS Financial Corp. and Guaranty Savings Announce Limited Resumption of Operations in Mandeville

GS Financial Corp. (the "Company") (Nasdaq/NMS:GSLA) and
its subsidiary, Guaranty Savings and Homestead Association (the
"Association"), announced that they have resumed limited banking
operations at their Mandeville branch office located at 2111 N.
Causeway Boulevard, Mandeville, Louisiana (Phone Numbers (985)
626-6229 or [phone]). Currently our main office and branch
office in Metairie appear to have sustained minor damage from
Hurricane Katrina and are expected to reopen once the civil evacuation
order for Jefferson Parish is lifted. Our New Orleans branch office,
of which no assessment has yet been made but which presumably has
incurred significant damage, currently is closed and remains subject
to the civil evacuation order which is in effect in Orleans Parish. We
will post updated information on our web site, www.gsha.com, as it
becomes available.

   GS Financial Corp. provides community banking services through its
wholly-owned subsidiary, Guaranty Savings and Homestead Association, a
Louisiana chartered savings association, in the metropolitan New
Orleans area.

   This news release contains certain forward-looking statements.
Forward-looking statements can be identified by the fact that they do
not relate strictly to historical or current facts. They often include
the words "believe," "expect," "anticipate," "intend," "plan,"
"estimate" or words of similar meaning, or future or conditional verbs
such as "will," "would," "should," "could" or "may."

   Forward-looking statements, by their nature, are subject to risks
and uncertainties. A number of factors - many of which are beyond the
Company's control - could cause actual conditions, events or results
to differ significantly from those described in the forward-looking
statements. The Company's reports filed from time-to-time with the
Securities and Exchange Commission, including the Company's Form 10-K
for the year ended December 31, 2004, and its other periodic and
current reports filed thereafter describe some of these factors.

   Forward-looking statements speak only as of the date they are
made. The Company does not undertake to update forward-looking
statements to reflect circumstances or events that occur after the
date the forward-looking statements are made or to reflect the
occurrence of unanticipated events.