[HIGH COUNTRY BANCORP, INC. LETTERHEAD]



PRESS RELEASE

HIGH COUNTRY BANCORP, INC.
ANNOUNCES STOCK REPURCHASE PROGRAM

Salida, Colorado --- March 20, 2000; High Country Bancorp,
Inc. (NASDAQ Small Cap: HCBC) announced today that it is
commencing a stock repurchase program to acquire up to 119,025
shares of the company's common stock, which represents
approximately 10% of the outstanding common stock.  The program
will be dependent upon market conditions and there is no
guarantee as to the exact number of shares to be repurchased by
the Company, or as to the timing of such repurchases.

Larry D. Smith, President of the Company, stated that the Board
of Directors has authorized the repurchase program, which is
expected to be completed within the next twelve months.  Mr.
Smith explained that the Board of Directors considers the
Company's common stock to be an attractive investment.  It is
expected  that a reduction in the amount of the Company's
outstanding stock would have the effect of increasing the
Company's per share earnings and book value.  In addition, the
repurchase program is designed to offset the future dilution
incurred in connection with the Company's stock option plan.

According to Mr. Smith, the repurchase generally would be
effected through open market purchases, although he did not
rule out the possibility of unsolicited negotiated transactions
or other types of repurchases.