Americorp's Board of Directors Announces Second-Quarter Cash Dividend.

Business Editors

VENTURA, Calif.--(BUSINESS WIRE)--July 10, 2001

Americorp (OTCBB:AICA) President and CEO Gerald J. Lukiewski announced that the board of directors has declared a cash dividend of $0.15 per share for shareholders of record as of June 21, 2001, payable on July 10, 2001.

Based on the number of shares outstanding, the dollar amount of the dividend will be approximately $320,000.00 and marks the 71st consecutive cash dividend declared by Americorp.

Lukiewski commented: "Americorp has been very consistent with regard to dividend payouts and added that their merger partner, Mid-State Bancshares has a history of dividend payouts that extends over 18 years. The pending merger between the two banking companies is anticipated to close in the third quarter of this year."

American Commercial Bank, with headquarters in Ventura County, currently operates branches in Ventura, Oxnard and Camarillo. The bank also has a full-service Mortgage Department specializing in home loan refinancing. Americorp stock information can be obtained from Maguire Investments at 800/244-4183, Crowell Weedon & Co. at 800/776-5500 or Hoefer & Arnett at 800/346-5544.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act. These include statements that relate to or are dependent on estimates or assumptions including, but not limited to, the bank's strategies, objectives, and expansion in the growth of its portfolio of loans, investments and deposits. These forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include the following possibilities: (a) competitive pressure among financial institutions increases significantly; (b) changes in the interest rate environment reduce interest margins; (c) general economic conditions are less favorable that expected; (d) actions that may be taken by regulatory authorities having oversight on the operation; the bank undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.