Bay View Capital Corporation to Pay Cash Distribution on Common Stock SAN MATEO, Calif., Sept. 2 /PRNewswire-FirstCall/ -- Bay View Capital Corporation (the "Company") announced today that it will pay a cash distribution of $2.50 per share on its outstanding common stock on September 30, 2004. The record date for the distribution will be September 10, 2004. The cash distribution 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 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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