BVC Bay View Cap Cp

SAN MATEO, Calif., Jan. 31 /PRNewswire-FirstCall/ -- Bay View Capital Corporation (NYSE:BVC) ("Bay View") announced today that, on January 30, 2006, the Federal Reserve Bank of New York approved Bay View's application to become a bank holding company through its previously announced proposed merger with Great Lakes Bancorp, Inc. which is headquartered in Buffalo, New York. Upon the consummation of the merger, Greater Buffalo Savings Bank will become a wholly-owned subsidiary of Bay View. Charles G. Cooper, President and Chief Executive Officer of Bay View, noted "We are pleased with this development which is an important step forward in completion of the merger. We believe the merger will be completed shortly after Great Lakes and we hold our special shareholders meetings which are currently scheduled for late March of this year." Not a Proxy Statement This press release is not a proxy statement or a solicitation of proxies from the holders of common stock of Bay View Capital Corporation. Any solicitation of proxies will be made only by a proxy statement that will be mailed to Bay View stockholders. Investors and security holders of Bay View are urged to read the proxy statement as soon as practicable of Bay View Capital Corporation and the relevant materials when they become available, because they will contain important information about Bay View and the sale of Bay View Acceptance Corporation to AmeriCredit Corp. The proxy statement and other relevant materials (when they become available) may be obtained free of charge at the SEC's web site at http://www.sec.gov/. Forward Looking Statements This press release contains "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future revenues and earnings, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied by such statements, the likelihood that Bay View Capital Corporation can utilize its net operating loss carry-forwards and other factors disclosed in Bay View Capital Corporation's periodic reports filed with the Securities and Exchange Commission. Bay View Capital Corporation assumes no obligation to update the forward-looking information contained in this release. FCMN Contact: mtamony@bayviewcapita.com DATASOURCE: Bay View Capital Corporation CONTACT: John Okubo of Bay View Capital Corporation, +1-650-294-7778 Web site: http://www.bayviewcapital.com/

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