Commercial Federal Declares Previously Announced Special Dividend.

OMAHA, Neb. -- Commercial Federal Corporation (NYSE:CFB) announced today that it had declared its previously announced special dividend of $.50 per share payable in connection with the Company's merger with Bank of the West. Under the terms of the merger agreement with Bank of the West, each share of Commercial Federal common stock will be converted into the right to receive $34.00 in cash and shareholders of record as of immediately prior to the completion of the merger will be entitled to receive the special dividend of $.50 per share. The merger is expected to close December 2, 2005, subject to satisfaction of customary closing conditions.

About Commercial Federal Corporation

Commercial Federal Corporation is the parent company of Commercial Federal Bank (www.comfedbank.com), a $10.2 billion federal savings bank founded in Omaha in 1887. It has 198 branches in Nebraska, Iowa, Colorado, Kansas, Oklahoma, Missouri and Arizona. Commercial Federal operations include consumer and commercial banking services, including retail banking, commercial and industrial lending, small business banking, construction lending, cash management, and insurance and investment services.

Forward Looking Statements

This release contains forward-looking statements, including statements regarding anticipated timing of the transaction. Such statements reflect management's best judgment as of this date, but they involve risks and uncertainties that could cause actual results to differ materially from those presented. Factors that could cause such differences include, without limitation the risk that the transaction closing is delayed or that the transaction does not close and other factors described in our recent filings with the Securities and Exchange Commission. Readers should carefully consider those risks and uncertainties in reading this release. Except as otherwise required by law, Commercial Federal Corporation disclaims any obligation to update any forward-looking statements included herein to reflect future events or developments.