Glen Ellyn, Illinois                                  Contact: Scott W. Hamer
March 21, 2008                                        Chief Executive Officer
Company Release                                       630-545-0900



                        COMMUNITY FINANCIAL SHARES, INC.
                             DECLARES CASH DIVIDEND

         Community Financial Shares, Inc. (OTCBB: CFIS) (the "Company"), the
holding company for Community Bank of Wheaton/Glen Ellyn (the "Bank"), announced
that its Board of Directors declared a quarterly cash dividend on March 19, 2008
of $0.06 per share on its common stock. The cash dividend will be paid on April
30, 2008 to shareholders of record at the close of business on April 16, 2008.

         Community Financial Shares, Inc. is a bank holding company
headquartered in Glen Ellyn, Illinois. Its primary subsidiary, Community Bank of
Wheaton/Glen Ellyn, maintains four full service offices in Glen Ellyn and
Wheaton. A new Community Bank office opened in November 2007 on the north side
of Wheaton, Illinois,

         For further information about the Company and the Bank visit them on
the world wide web at www.commbank-wge.com. In addition, information on the
Company's stock can be found at www.otcbb.com under the symbol CFIS.

         Statements contained in this news release which are not historical
facts, are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995, Such forward-looking statements are
subject to risk and uncertainties which could cause actual results to differ
materially from those currently anticipated due to a number of factors, which
include, but are not limited to, factors discussed in documents filed by the
Company with the Securities and Exchange Commission from time to time.

         The Company does not undertake, and specifically disclaims 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.