contact:  Thomas J. Leiferman, President and CEO


Phone: (320) 632-5461
For immediate release April 13, 1998


                   Mississippi View Holding Company Announces
                    Share Repurchase Of Up To 222,000 Shares


         Little Falls, Minnesota, April 13, 1998 -- Mississippi View Holding
Company (formally traded on Nasdaq SmallCap Market under the symbol "MIVI"), the
holding company of Community Federal Savings and Loan Association of Little
Falls (the "Association") commenced a "Modified Dutch Auction" self-tender offer
on April 13, 1998 for up to 222,000 common shares, or approximately 30 percent,
of its 736,864 common shares currently outstanding.

         The offer will allow common shareholders to specify prices at which
they are willing to tender their shares at a price not greater than $21.50 and
not less than $19.50 per share. After receiving tenders, the Company will select
a single per share price which will allow it to buy up to 222,000 shares. All
shares purchased will be purchased at the company-selected price for cash, even
if tendered at a lower price. If more than the maximum number of shares sought
is tendered at or below the company-selected price, tendering shareholders
owning fewer than 100 shares will have their shares purchased without pro-
ration. Other shares will be purchased pro rata. The offer is conditioned upon,
among other things, the Company obtaining the funds necessary to consummate the
offer and to pay all related fees and expenses. The offer is not conditioned on
a minimum number of shares being tendered.

         In connection with the offer, the Company has established the
Mississippi View Holding Company Stock Employee Compensation Trust (the "Trust")
and has agreed to sell approximately $1.2 million of common shares (based on the
company-selected price in the offer) to the Trust. The Trust will use such
shares to fund contributions to Company employee benefit plans the benefits of
which are paid in stock of the Company. Assuming the purchase of 222,000 shares
pursuant to the offer and the sale of shares to the Trust, executive officers,
directors, Company compensation plans and the Trust will own approximately 49.5%
of the Company's outstanding shares after completion of the offer.






         The tender offer, proration period and withdrawal rights will expire at
5:00 p.m. on Monday, May 11, 1998, unless extended. On March 31, 1998, the last
full trading day in the over-the-counter market on which a sale was reported
prior to the commencement of the offer, the closing per share sales price of the
Company's common stock was $18.50.

         MacKenzie Partners, Inc., New York, New York will act as the
information agent for the offer.

         Shareholders will, in general, be able to tender their shares free of
all brokerage commissions and stock transfer taxes, if any, which will be paid
by the Company. Each shareholder is urged to consult his tax advisor as to the
particular tax consequences of the tender offer to such shareholder. The full
details of the offer, including complete instructions on the tender process
procedure along with the transmittal forms and other data is being mailed to
shareholders commencing April 13, 1998.

         NEITHER THE COMPANY NOR ITS BOARD OF DIRECTORS MAKES ANY RECOMMENDATION
TO ANY SHAREHOLDER AS TO WHETHER TO TENDER OR REFRAIN FROM TENDERING ANY OR ALL
OF SUCH SHAREHOLDER'S SHARES IN THE OFFER AND HAS NOT AUTHORIZED ANY PERSON TO
MAKE ANY SUCH RECOMMENDATION.

         This announcement is neither an offer to purchase nor a solicitation of
an offer to sell shares of Mississippi View Holding Company common stock. The
offer is made solely by the Offer to Purchase, dated April 13, 1998, and the
related Letter of Transmittal.


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