FOR IMMEDIATE RELEASE
December 7, 2000

CONTACT:  Tri-County Bancorp, Inc.
          Robert L. Savage, President and Chief Executive Officer
          (307) 532-2111

          Platte Valley Financial Services Companies, Inc.
          Hod Kosman, Chairman and Chief Executive Officer
          (308) 632-7004

PLATTE VALLEY FINANCIAL SERVICE COMPANIES,  INC. ENTERS INTO LETTER OF INTENT TO
ACQUIRE TRI-COUNTY BANCORP, INC.

Scottsbluff, NE /Torrington, WY- Platte Valley Financial Service Companies, Inc.
of  Scottsbluff,  Nebraska  and  Tri-County  Bancorp,  Inc.  (NASDAQ:  TRIC)  of
Torrington, WY have executed a letter of intent in which Tri-County Bancorp will
be  acquired by Platte  Valley  Financial  Service  Companies,  Inc.  Tri-County
Bancorp, Inc. is the parent of Tri-County Bank.

The letter  provides that the common  shareholders  of  Tri-County  will receive
$12.60 in cash for each common share  subject to possible  adjustment  after due
diligence by Platte Valley. The transaction is subject to certain  contingencies
including the execution of a final definitive merger agreement,  satisfaction of
applicable  federal  regulatory  requirements  (including the sale of Tri-County
Bank's Torrington and Wheatland, Wyoming branches to Platte Valley National Bank
and the  transfer  of  Tri-County  Bank's  headquarter  to  Cheyenne,  Wyoming),
approval by the  shareholders  of Tri-County,  and completion of a due diligence
examination  of  Tri-County.  The  merger,  which  would be  accounted  for as a
purchase,  is expected to close late in the first quarter or early in the second
quarter of 2001. The merger is valued at approximately $11.67 million.

"We're very  excited to welcome  Tri-County  to the Platte  Valley  family," Hod
Kosman,  Chairman & Chief Executive  Officer of Platte Valley Financial  Service
Companies,  Inc., said.  "Together,  our organizations  will be in a position to
offer our customers a wider range of products and  services,  such as brokerage,
trust and insurance  services,  while  continuing both companies'  commitment to
their communities. This acquisition fits into our expansion plans and our desire
to grow our  franchise in markets  where we can add value for our  shareholders,
customers and the community." "Tri-County customers can look forward to the same
outstanding and friendly  service that we have always provided from our existing
personnel, while we expand the products we offer by joining with Platte Valley,"
Robert  Savage,  President and Chief  Executive  Officer of Tri-County  Bancorp,
Inc.,  said.  "We are  extremely  pleased  with this  transaction.  Our  similar
operating  philosophies  and  dedication  to  providing  the highest  quality of
customer service make us a perfect match."

Platte Valley  started its  financial  network of companies in March of 1996 and
currently   operates   through  seven   subsidiaries:   Platte  Valley  National
Bank-Torrington; Platte Valley Ag Credit Co. with one location in Torrington and
two locations in Nebraska;  Platte  Valley  National  Mortgage  Company with one
location in Torrington and two locations in Nebraska;  Platte Valley  Investment
Center,  Inc.  with one  location in  Torrington  and one  location in Nebraska;
Platte  Valley  Lending  Company-Scottsbluff;  J.G.  Elliott  Company  with  one
location in  Torrington  and three  locations  in  Nebraska;  and Platte  Valley
National Bank-Scottsbluff with six locations in Nebraska.

"At closing,  Platte Valley National Bank of Torrington would combine operations
with  Tri-County Bank under the name of Platte Valley National Bank and continue
to utilize the current  facilities  of  Tri-County  Bank located in  Torrington,
Wheatland and Cheyenne, Wyoming," said Kosman.

Based on September  30, 2000  numbers,  Tri-County  will add  approximately  $97
million in assets and  approximately  $54 million in deposits to Platte Valley's
$225 million in assets and $171 million in deposits as of November 30, 2000.



This press release includes forward-looking statements that are subject to risks
and  uncertainties.  Actual results might differ materially from those projected
in the forward-looking  statements.  Additional  information  concerning factors
that  could  cause  actual  results  to  materially  differ  from  those  in the
forward-looking   statements  is  contained  in  the   Securities  and  Exchange
Commission filings of Tri-County Bancorp. Readers are cautioned not to put undue
reliance on any forward-looking statements contained herein, which speak only as
of the date hereof.  The companies  undertake no obligation to release  publicly
any revisions to forward- looking  statements that may be made to reflect events
after the date hereof or to reflect the occurrence of unanticipated  events.  In
addition,  the forward-looking  statements contained herein are subject to risks
and uncertainties,  including the successful  negotiation of a definitive merger
agreement and to completion of certain contingencies mentioned herein.

This announcement is neither an offer to sell nor a solicitation for an offer to
buy  securities.  The offering with respect to the proposed  merger will be made
only by the proxy that will be distributed to  shareholders  in connection  with
the consideration of the transaction.