<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>form8k044ex992.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
Exhibit 99.2

January 21, 2005

                           Press Release

Kentucky Bancshares Inc, parent company of Kentucky Bank, reported a
158.4% increase in earnings for the fourth quarter of 2004. The company
earned $1,593,898 for the quarter ended December 31, or $0.59 per
share, compared to $616,874 for the same quarter last year, or $0.22
per share. In the fourth quarter of 2003, the company incurred
substantial expenses relating to its acquisition of First Federal
Savings Bank, Cynthiana.

Year to date earnings of $5,762,109 or $2.09 per share, are 36.1% ahead
of the same period last year.

A stock repurchase transaction completed during the third quarter
reduced the number of shares outstanding and increased earnings per
share.  Additionally, the bank enjoyed a 14.4% increase in loan growth,
which helped net interest income grow by 16.1%.

Kentucky Bank ranks as 11th largest among 218 banks in the state.
Headquartered in Paris, Kentucky Bank also has offices in Winchester,
Georgetown, Versailles, Nicholasville, Wilmore, Cynthiana and North
Middletown.


</TEXT>
</DOCUMENT>