Bay View Capital Corporation to Pay Cash Distribution on Common Stock SAN MATEO, Calif., Dec. 10 /PRNewswire-FirstCall/ -- Bay View Capital Corporation (the "Company") announced that its Board of Directors today declared a cash distribution of $2.25 per share on its outstanding common stock payable on December 31, 2004 to stockholders of record at the close of business on December 21, 2004. The Company's cash distributions during 2004 will be taxed as a dividend to the extent of the Company's current or accumulated earnings and profits, with any excess being treated first as a return of capital to the extent of any remaining cost basis in the stock, then as a capital gain. The amount taxable as a dividend will be included in Form 1099-DIV information returns, which will be provided after December 31, 2004. Bay View Capital Corporation is a financial services company headquartered in San Mateo, California and is listed on the NYSE: BVC. For more information, visit http://www.bayviewcapital.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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