FOR IMMEDIATE RELEASE                                Contact: Larry D. Smith
                                                              (719) 539-2516

HIGH COUNTRY BANCORP, INC. ANNOUNCES QUARTERLY EARNINGS


Salida,  Colorado  ---  February 4, 2004:  High Country  Bancorp,  Inc.  (Nasdaq
SmallCap:  HCBC), the parent company of High Country Bank,  announced a net loss
of $132,000 for the quarter ended December 31, 2003 as compared to net income of
$531,000 for the prior year comparable period.

The reduction in earnings for the quarter is largely  attributable to a $326,000
increase in the  provision  for loan losses,  a $216,000  write-down in the book
value of real estate owned and a $229,000 decline in gains from loan sales.

Net  income was  $306,000,  or $.36 basic  earnings  per share and $.33  diluted
earnings  per share,  for the  six-month  period ended  December  31,  2003,  as
compared  to  $970,000,  or $1.13  basic  earnings  per share and $1.07  diluted
earnings per share, for the prior year comparable period.

As of December 31,  2003,  the Company  reported  assets of $194.7  million,  an
increase of $7.3  million,  or 3.75%,  from the fiscal year ended June 30, 2003.
Total  stockholders'  equity of High Country Bancorp,  Inc. was $17.5 million at
December 31, 2003.

High Country Bancorp,  Inc., is the holding company for High Country Bank, which
conducts business through its main office in Salida, Colorado, branch offices in
Salida, Leadville and Buena Vista, Colorado.

This press release contains statements that are forward-looking, as that term is
defined by the Private  Securities  Litigation Act of 1995 or the Securities and
Exchange Commission in its rules, regulations, and releases. The Company intends
that such  forward-looking  statements  be subject to the safe  harbors  created
thereby.  All  forward-looking  statements  are  based on  current  expectations
regarding  important  risk  factors  including,  but not limited to, real estate
values in our market area,  the impact of changes in economic  conditions in our
market  area,  changes in  policies  by  regulatory  agencies,  fluctuations  in
interest  rates,  demand  for  loans  in our  market  area and  competition  and
information  provided by third-party  vendors.  Accordingly,  actual results may
differ from those expressed in the forward-looking statements, and the making of
such statements should not be regarded as a representation by the Company or any
other person that results expressed therein will be achieved.