April 8, 2008

FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION

Bethlehem, Pa. Contact Joseph T. Svetik, President

610-691-2233

FIRST STAR BANCORP, INC. TO INITIATE

STOCK REPURCHASE PROGRAM

Bethlehem, Pennsylvania, April 8, 2008. First Star Bancorp, Inc. (the “Company”) (FSSB), the holding company for First Star Bank, announced today that it is commencing a stock repurchase program to acquire up to 59,172 shares, or 5%, of the Company’s outstanding common stock. Repurchases, which will be conducted through open market purchases or privately negotiated transactions, will be made from time to time depending on market conditions and other factors. There is no guarantee as to the exact number of shares to be repurchased by the Company. Repurchased shares will be held in treasury.

First Star Bancorp, Inc. is the parent company of First Star Bank, a community-oriented financial institution operating 7 full-service branch locations in Pennsylvania and offers a broad array of retail and commercial lending and deposit services.

This press release may contain certain forward-looking statements which are based on management’s current expectations regarding economic, legislative and regulatory issues that may impact First Star Bancorp’s earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values and competition, changes in accounting principles, policies or guidelines, changes in legislation or regulation and other economic, competitive governmental, regulatory and technological factors affecting the Company’s operations, pricing, products and services.