Steven F. Young
Senior Vice President

Wainwright Bank & Trust Company
(NASDAQ: WAIN)
telephone:(617) 478-4000
fax: (617) 478-4020
e-mail: syoung@wainwrightbank.com
website: www.wainwrightbank.com

FOR IMMEDIATE RELEASE

Wainwright Bank Opens New Davis Square Cyber-Café Branch

First retail banking branch of its kind in the Boston/Somerville Area

Somerville, MA, February 19, 2002 - Wainwright Bank today opens its newest branch location at 250 Elm Street in Davis Square, Somerville, Massachusetts. Dubbed a "cyber-café" branch, customers can access their e-mail, surf the web, catch the latest news from CNN on a plasma-screen TV, or just relax by the fireplace with a cup of coffee.

The branch design, by Approach Architects of Boston, is also unique, incorporating arching walls and ceilings, a serpentine teller line, neon lighting and multiple bright colors. Like other Wainwright Bank branches, it includes a "Community Room" available for free to nonprofit organizations for after-hours meetings.

"Davis Square was recently called 'the new SoHo' by the Utne Reader magazine. We decided our cyber-café branch concept would be especially appreciated here," said Wainwright Bank President and CEO, Jan Miller.

Wainwright Bank is nationally recognized for its social justice initiatives. The bank has committed over $190 million to affordable housing and other socially responsible community development projects in the Boston area including homeless shelters, food banks, AIDS services, women's health projects, and environmental protection.

As a $490 million commercial bank with headquarters in Boston and 9 branches in Boston, Cambridge, Watertown, and Somerville, Wainwright Bank is strategically positioned to provide consumer and commercial mortgages, loans, and deposit services to individuals, families, businesses, and nonprofit organizations.

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