Exhibit 99.1

For Immediate Release


        ANCHOR BANCORP WISCONSIN INC. RECEIVES NOTICE FROM NASDAQ OF
          INTENTION TO DELIST ITS COMMON STOCK DUE TO LATE FILING;
                       ANCHOR BANCORP WISCONSIN INC.
              WILL REQUEST HEARING WHICH WILL DEFER DELISTING


     MADISON, WI (July 6, 2005) - Anchor BanCorp Wisconsin Inc.
(NASDAQ: ABCW) announced today that on July 1, 2005, the Company
received a notice from the Listing Qualifications Department of
The Nasdaq Stock Market  ("Nasdaq") stating that because Nasdaq
had not received the Company's Annual Report on Form 10-K for the
year ended March 31, 2005 (the "Form 10-K"), the Company's common
stock will be subject to delisting on Nasdaq at the opening of
business on July 12, 2005 unless the Company requests a hearing
in accordance with applicable rules.  The Company intends to
request a hearing with a Nasdaq Listing Qualifications Panel (the
"Panel") to appeal the delisting.  There can be no assurance that
the Panel will grant the Company's request for continued listing.
The Company's common stock will remain listed pending the appeal.
As a result of the Company's filing delinquency, a fifth
character "E" will be appended to the Nasdaq trading symbol for
the common stock.  Accordingly, the trading symbol of the
Company's common stock was changed from "ABCW" to "ABCWE" at
the opening of business on July 6, 2005.

     The Company previously reported that it was notified by
Ernst & Young LLP, the Company's independent registered public
accounting firm, that disclosure should be made and action taken
by the Company to prevent future reliance on previously-issued
audit reports and completed interim reviews of Ernst & Young LLP
related to the Company's consolidated financial statements for
fiscal 2005, 2004 and 2003 (including interim periods therein)
and prior financial statements included in annual and quarterly
reports on Forms 10-K and 10-Q filed by the Company with the SEC
because of material adjustments which were required as a result
of the Company's incorrect accounting for loans originated by the
Company through the Mortgage Partnership Finance ("MPF") 100
program of the Federal Home Loan Bank of Chicago.  Ernst & Young
LLP stated its conclusion that the Company has a material
weakness in its system of internal controls over financial
reporting related to the accounting for the Company's
participation in the MPF 100 program.

     The corrections which are necessary to restate the Company's
financial statements generally relate to the timing of the
recognition of income from its participation in the MPF program
and do not reflect a change in the underlying economics of the
Company's participation in the MPF program, the Company's
business or its future prospects.

      The Company previously filed a Form 12b-25 with the SEC to
report a delay in the filing of the Form 10-K.  Because of the
additional work necessary to restate the Company's financial
statements, the Company was not able to file its Form 10-K by the
due date of June 29, 2005.


The Company expects that it will file its Form 10-K late, but expects
to be able to file the Form 10-K in July 2005.

     This news release contains certain forward-looking
statements with respect to the financial condition, results of
operations and business of Anchor BanCorp.  Forward-looking
statements are subject to various factors which could cause
actual results to differ materially from these estimates.  These
factors include, but are not limited to, changes in general
economic conditions, interest rates, deposit flows, loan demand,
asset quality, competition, legislation or regulation and
accounting principles, policies or guidelines, as well as other
economic, competitive, governmental, regulatory and accounting
factors affecting Anchor BanCorp's operations. Investors are
encouraged to access Anchor BanCorp's periodic reports filed with
the Securities and Exchange Commission for financial and business
information regarding Anchor BanCorp, including information which
could affect Anchor BanCorp's forward-looking statements.  The
forward-looking statements in this news release speak only as of
the date of the release, and Anchor BanCorp assumes no obligation
to update the forward-looking statements or to update the reasons
why actual results could differ from those contained in the
forward-looking statements.


























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