Great Southern Bank Extends Participation in FDIC Transaction Account Guarantee Program

November 5, 2009

SPRINGFIELD, Mo., Nov. 5 /PRNewswire/ -- Great Southern Bank, a subsidiary of Great Southern Bancorp, Inc. (Nasdaq: GSBC), today announced plans to extend its participation in the Federal Deposit Insurance Corporation's (FDIC) voluntary Transaction Account Guarantee Program (TAGP) portion of the Temporary Liquidity Guarantee Program through June 30, 2010.

By participating in this program, Great Southern is purchasing additional FDIC insurance coverage for its customers. Great Southern customers with non-interest bearing transaction accounts, qualified NOW checking accounts paying 0.50 percent interest or less, and Interest on Lawyers Trust Accounts (IOLTA) are fully guaranteed by the FDIC regardless of the account balance. The TAGP coverage is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules, which covers balances up to $250,000 per depositor through December 31, 2013.

Great Southern President and CEO Joseph W. Turner commented, "Great Southern has participated in the TAGP since its inception in late 2008. We are pleased to extend our participation in this program so that we can provide our customers the maximum amount of FDIC insurance coverage available."

With total assets of $3.7 billion, Great Southern offers banking, investment, insurance and travel services. Headquartered in Springfield, Mo., Great Southern operates 72 retail banking centers and more than 200 ATMs in Missouri, Iowa, Kansas and Nebraska. The company also serves lending needs through a loan production office in Rogers, Ark. Great Southern Bancorp, Inc. is a public company and its common stock (ticker: GSBC) is listed on the NASDAQ Global Select stock exchange.

www.greatsouthernbank.com

Forward-Looking Statements

When used in future filings by the Company with the Securities and Exchange Commission (the "SEC"), in the Company's press releases or other public or shareholder communications, and in oral statements made with the approval of an authorized executive officer, the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "intends" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, including, among other things, changes in economic conditions in the Company's market area, changes in policies by regulatory agencies, fluctuations in interest rates, the risks of lending and investing activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for loan losses, the Company's ability to access cost-effective funding, fluctuations in real estate values and both residential and commercial real estate market conditions, demand for loans and deposits in the Company's market area and competition, that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

The Company does not undertake-and specifically declines any obligation- to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

SOURCE Great Southern Bank