Bank Mutual Corporation: to Participate in Investor Presentation on June 1, 2004

Contact:

Michael T. Crowley Jr.
Chairman, President and Chief Executive Officer
414-354-1500

Rick B. Colberg
Chief Financial Officer
866-705-2568

Milwaukee, Wisconsin

Bank Mutual Corporation (NASDAQ – BKMU) announced today it will make a presentation at the Howe Barnes Annual Bank Conference at approximately 2:00 p.m. Central Daylight Time on Tuesday, June 1, 2004. Bank Mutual Corporation’s conference presentation will be webcast live, and can be accessed within the Howe Barnes Investments, Inc. website at www.howebarnes.com. The presentation will be archived for approximately 30 days following the event and can be reached by going to www.bankmutualcorp.com. The presentation will include discussions of the Company’s strategy and future outlook.

Bank Mutual Corporation is traded on The NASDAQ Stock Marketâ under the symbol “BKMU.” The Company is the fifth largest banking institution headquartered in the state of Wisconsin, with assets at March 31, 2004 of $3.1 billion. Its subsidiary bank, Bank Mutual, operates 70 offices in the state of Wisconsin and one office in Minnesota.