PRESS RELEASE                                   March 8, 1999

For more information contact:
Robert L. Savage, President
Tri-County Federal Savings Bank
2201 Main Street, P.O. Box 1057
Torrington, WY 82240
(307) 532-2111

                         TRI-COUNTY FEDERAL SAVINGS BANK
                       TO OPEN BRANCH IN CHEYENNE, WYOMING

Torrington,  Wyoming -- Tri-County  Bancorp,  Inc.,  (the "Company") the holding
company of Tri-County  Federal  Savings Bank (the "Bank"),  announced today that
the Bank has filed a notice  with the  Office of Thrift  Supervision  ("OTS") to
establish  a branch  office in  Cheyenne,  Wyoming.  The branch  office  will be
located in the  vicinity of the  intersection  of Hynds  Boulevard  and Vandehei
Avenue. It is expected that the branch will open in late summer of this year.

The Bank currently provides retail and commercial banking services from its main
office located in Torrington, Wyoming and a branch office in Wheatland, Wyoming.
Robert L. Savage,  President of Tri-County  Federal  Savings Bank,  believes the
Cheyenne  branch will  provide  superior  banking  services  for  residents  and
businesses located in northwest Cheyenne. Additionally, the Cheyenne branch will
benefit current customers by expanding the Bank's service area.

Tri-County  Federal  Savings  Bank,  the wholly owned  subsidiary  of Tri-County
Bancorp,  Inc., is a  community-oriented  bank offering  traditional deposit and
loan products.  Since being founded in 1935, the Bank has focused on serving its
customers located  primarily in and around Goshen and Platte Counties,  Wyoming.
The  Company's  common  stock is  traded in the  over-the-counter  market on the
Nasdaq "Small-Cap" System under the symbol "TRIC."