Exhibit 99

                      Press Release Dated November 15, 2002



[LOGO] Commercial
       Federal                                                      News Release
       Corporation



November 15, 2002

FOR IMMEDIATE RELEASE

For more information, contact:
Celia Clinch Ferrel                John J. Griffith
Manager of Public Relations        Investor Relations Director
(402) 514-5333                     (402) 514-5336


              Commercial Federal Plans to Expand Branch Network and
                       Implement New Branch Design Concept

     OMAHA, Nebraska - Commercial Federal Corporation (NYSE: CFB) today
announced that it plans to open 15 to 19 new branches in three of its markets:
Denver, Omaha and Des Moines.

     "Commercial Federal plans to launch an aggressive program to continue
growing our three areas of greatest strength: people, places and products," said
Chairman and Chief Executive Officer William A. Fitzgerald. "Our goals include
expanding our market share by providing more personalized delivery of innovative
financial service solutions and by fully leveraging our relationships with every
consumer and business client."

     Plans for the branch expansion project initially will concentrate on three
of Commercial Federal's markets: Denver, Omaha and Des Moines. Eventually, plans
for the project will move across all of the bank's markets.

     "Our branch network is one of our most important delivery channels for
servicing our clients and acquiring new checking and savings accounts," said
President and Chief

                                     -More-



Page Two -- Commercial Federal's Branch Expansion Plans


Operating Officer Robert Hutchinson. "Our goal is to offer the most convenient
branch locationswhere people and businesses are located and where our markets
are expanding in order to grow our client base.

     "Over the next two to three years, the company plans to open 10 to 12 new
branches in the Denver area, three to four new branches in Omaha, and two to
three new branches in Des Moines. The plan includes expanding the bank's
Automated Teller Machine (ATM) network with a minimum of 15 to 20 new
freestanding ATMs to be located in high-traffic areas.

     During 2003, Commercial Federal plans to build seven new branches - five in
the Denver area and two in Omaha. In addition, the bank plans to relocate four
branches - two in Denver, one in Iowa and one in Oklahoma.

     Additionally, Commercial Federal plans to design the new branches to
feature a number of new retail and business banking concepts, including:

  .  Customer Service Center - Branch representatives will provide personal
     assistance and product information.

  .  Investment Center - Commercial Federal investment representatives will be
     licensed to sell stocks, bonds, annuities and mutual funds. The Investment
     Center will feature a sitting area for customers, a TV monitor for
     financial news and a variety of financial publications.

  .  Home and Consumer Lending Center - This area will feature information on
     Commercial Federal's lending and mortgage products as well as literature on
     the home purchase process.

  .  Business Services Center - The Business Services Center will offer
     information on a full array of Commercial Federal's small business and
     commercial banking products and services, including lending opportunities
     for small and large companies.

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Page Three -- Commercial Federal's Branch Expansion Plans

  .  Internet Cafe - The Internet Cafe will demonstrate Commercial Federal's
     online banking services and will provide access to the bank's Web site,
     www.comfedbank.com, and other value-added Web sites.

Plans for the new branch design also will incorporate additional timesaving
approaches to banking, including a drive-up ATM and a night depository.

     "This investment in our delivery system will make accessing financial
services easier and more convenient," said Senior Vice President Kevin Parks,
director of Retail Sales and Service. "Customers will find our new branches to
be more like retail stores, where they can shop for financial services and learn
about everything from small business and commercial lending, to planning for
retirement and saving money by consolidating debt."

     Commercial Federal Corporation is the parent company of Commercial Federal
Bank, a $13.5 billion federal savings bank that currently operates branches
located in Nebraska, Iowa, Colorado, Kansas, Oklahoma, Missouri and Arizona.
Commercial Federal operations include consumer and commercial banking, mortgage
banking, commercial lending, insurance and investment services, and Internet
banking. Commercial Federal's Web site can be accessed at www.comfedbank.com.

                                       ###

Certain statements contained in this release are forward-looking in nature.
These statements are subject to risks and uncertainties that could cause
Commercial Federal's actual results or financial condition to differ materially
from those expressed in or implied by such statements. Factors of particular
importance to Commercial Federal include, but are not limited to, changes in
general economic conditions, and price levels and conditions in the public
securities markets generally.