July 13, 1998 First Colorado Bancorp, Inc. ("First Colorado") held a special meeting of stockholders today, during which the stockholders approved a reorganization and merger agreement by and among First Colorado, Commercial Federal Corporation...

                                  EXHIBIT 99.1






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                                  N o E o W o S

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For Immediate Release:


                                  July 13, 1998

     First Colorado Bancorp,  Inc. ("First  Colorado") held a special meeting of

stockholders today, during which the stockholders  approved a reorganization and

merger  agreement by and among First Colorado,  Commercial  Federal  Corporation

("Commercial"), First Federal Bank of Colorado ("First Federal"), and Commercial

Federal Bank ("Bank")  pursuant to which First  Colorado will be merged with and

into Commercial and subsequently  First Federal will be merged with and into the

Bank. The transaction is expected to close in August 1998.

         First Colorado  trades on the Nasdaq  National  Market under the Symbol
"FFBA".

         For  further  information,  contact  ▇▇▇▇  ▇▇▇▇▇▇▇ or ▇▇▇▇▇  ▇▇▇▇▇▇▇ at

▇▇▇-▇▇▇-▇▇▇▇.




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                            F  C  B  I    First Colorado
                            |_||_||_|     Bancorp, Inc.