Exhibit 99








                        Press Release Dated May 7, 2001






May 7, 2001

FOR IMMEDIATE RELEASE

Contact: John J. Griffith
Investor Relations Department
(402) 390-6553

Commercial Federal Expands Common Stock Repurchase Plan

OMAHA, Nebraska, May 7, 2001--Commercial Federal Corporation (NYSE: CFB)
announced today that its board of directors authorized the additional repurchase
of up to 5 million shares of the Company's outstanding common stock. This
repurchase plan will begin after July 1, 2001, and be completed by December 31,
2002. The Company currently has 51,344,822 common shares outstanding. The
previously authorized repurchase of 5.5 million shares announced in August 2000
will be completed by June 30, 2001.

"The repurchase of Commercial Federal shares remains an important strategy for
managing the company's capital and building long-term shareholder value," stated
William A. Fitzgerald, chairman and chief executive officer. "The company's
stock is an attractive investment at its current price level."

Repurchases can be made at any time and in any amount, depending upon market
conditions and various other factors. Any repurchase generally will be on the
open-market, although privately negotiated transactions are possible.

Commercial Federal Corporation is the parent company of Commercial Federal Bank,
a $12.7 billion federal savings bank that currently operates branches located in
Iowa, Colorado, Nebraska, Kansas, Oklahoma, Missouri, Arizona and Minnesota.
Commercial Federal operations include consumer and commercial banking, mortgage
banking, agricultural lending, insurance and investment services, and Internet
banking.