Operator & and addresses

Question

Here's an example:

return (sha3(newOwner) & 0xff) == (bytes20(tokenAddress) & 0xff);

I know how & works on bits:

1111
&
0101
----
0101

What does it evaluates to here:

0xb794f5ea0ba39494ce839613fffba74279579268
&
0xff
----
????