Rainier Pacific Financial Group, Inc. Declares Quarterly Cash Dividend

Rainier Pacific Financial Group, Inc. (NASDAQ: RPFG) today reported that its Board of Directors declared a quarterly cash dividend of $0.07 per share on its common stock.

The dividend will be paid on December 15, 2008 to shareholders of record as of the close of business on December 1, 2008. This is the twentieth consecutive quarterly cash dividend for Rainier Pacific Financial Group, Inc.

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