Cal Fed Hires Executive Vice President of Marketing and Advertising.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--Feb. 9, 2000

California Federal Bank hired Susan Cotton from Bank of America to head its marketing and advertising functions.

As executive vice president and director of marketing, Cotton will be responsible for all areas of marketing for the bank, product management for both commercial and consumer banking, advertising and sales support. She will join the company Feb. 14, coinciding with the company's launch of a new advertising campaign. (The campaign, developed by the Suissa Miller agency, includes television, radio and billboards.)

&uot;We're very excited to have Susan on our executive team,&uot; says Scott Kisting, director of consumer and business banking for Cal Fed. &uot;She brings with her a wealth of market research, product development and brand management experience. Susan will be instrumental as we work to increase sales and build the Cal Fed brand around exceptional customer service and community involvement. Combined with our new ad campaign, Susan's appointment gives us enhanced marketing muscle.&uot;

Cotton joins Cal Fed after five years with Bank of America, most recently as senior vice president and director of customer information management, where she managed a team of 150 information professionals and $17 million in vendor relationships. She was responsible for all database marketing, market research, and customer analysis for consumer, small business and commercial banking.

Prior to joining Bank of America in 1995, Cotton spent eight years at NationsBank, where she held a variety of management positions in areas including sales information management, incentive planning and support, market research and change management. She also has six years experience as a systems analyst/programmer for ADP Information Services in Chicago.

Cotton received a master's of business administration degree in marketing and strategic planning from the University of Illinois in Chicago. She also graduated with honors from Wheaton College in Massachusetts with a bachelor's degree in psychology.

San Francisco-based California Federal Bank, the second-largest depository institution based in California, has approximately $57 billion in assets, 349 branches in California and Nevada, and $23 billion in deposits. Cal Fed, the principal operating subsidiary of Golden State Bancorp (NYSE:GSB), is a full-service community-oriented bank offering consumers and businesses the products and experience to help them achieve their financial goals. For more on the companies, see our web sites at www.calfed.com and www.goldenstatebancorp.com.