PRESS RELEASE                                         May 7, 1999

For more information, contact:
Robert L. Savage, President
Tri-County Bancorp, Inc.
2201 Main Street, P.O. Box 1057
Torrington, WY  82240

                   Joe P. Guth Joins Tri-County Bancorp, Inc.
                           As Executive Vice President

[Picture of Mr. Joe P. Guth]

Robert L. Savage,  President of Tri-County Bancorp, Inc.,  Torrington,  Wyoming,
parent  Company  of  Tri-County  Federal  Savings  Bank,  Torrington,   Wyoming,
announced  today  that Joe P.  Guth has  joined  Tri-County  Bancorp,  Inc.  and
Tri-County Federal Savings Bank as Executive Vice President.  Mr. Guth brings 15
years  of  banking  experience  to  the  job  and  an  excellent   knowledge  of
agricultural,  commercial and consumer lending. As a Torrington, Wyoming native,
Mr. Guth has a clear  understanding  of market  aspects in and around Goshen and
Platte Counties.

According to Mr. Savage, Guth's responsibilities with Tri-County Federal Savings
Bank will include overseeing the addition of agricultural  lending to the Bank's
line of loan products as well as developing and enhancing  financial services to
businesses in the area.

Tri-County  Federal  Savings  Bank,  the wholly owned  subsidiary  of Tri-County
Bancorp, Inc. is a community-oriented  banking institution.  Since being founded
in 1935, the Bank has focused on serving its customers  located primarily in and
around Goshen and Platte Counties, Wyoming. The Bank provides financial services
from its home  office  located  in  Torrington,  Wyoming,  a  branch  office  in
Wheatland,  Wyoming,  and coming later this year,  a branch  office in Cheyenne,
Wyoming.

At March 31,  1999,  the  Company  had total  assets of $82.1  million and total
stockholders'  equity of $10.3 million.  The Company's common stock is traded in
the over-the-counter market on the Nasdaq System under the symbol "TRIC."