Wainwright Bank Praised As One Of 11 Best Lenders to Women In U.S.

Companies chosen for support of women-run businesses and nonprofits

Boston, MA, August 6, 2003 - The national Community Investing Campaign of the Social Investment Forum Foundation and Co-op America today honored Wainwright Bank & Trust Company (NASDAQ: WAIN) as one of 11 leading supporters and financiers of businesses and nonprofit organizations run by women throughout the U.S. and the world.

The recognition is for Wainwright Bank's work in providing commercial loans to women or organizations run by women. Over $300 million in community development loans, including loans to women, have been made by the bank over the last decade.

The help that community lending and investing provides to women is particularly important in the current difficult economic times. Recently released figures from the Center for Women's Business Research found that nearly half of all privately held U.S. businesses are owned by women. But that does not mean women have equal access to credit: In 2000, only 12 percent of all credit provided to small businesses went to women, according to the National Women's Business Council and the Milken Institute. While many women are able to start their own businesses and nonprofits, their access to credit and capital still lags far behind that of men.

"We are deeply gratified to have this kind of national attention focused on the work of Wainwright Bank, which is committed to improving the lives of underserved individuals and communities through a number of means, including a focus on lending to women-run businesses and organizations," said Wainwright Bank President and CEO, Jan A. Miller.

Community Investing Campaign Coordinator, Fran Teplitz said, "we are honoring Wainwright Bank today because it is an outstanding example of how community investing dollars can transform the lives of hundreds and even thousands of people in the U.S. and around the globe. Americans who want to make a change in the lives of others need to understand that community investing is a powerful and personal way to get the job done. Thanks to Wainwright Bank and other organizations like it, we are helping women and improving our world one community at a time."

How does Wainwright Bank make a difference in the lives of women? Consider these examples:

Jules Catering

Alice Fisher and Anita Baglaneas combined their culinary and business skills and formed Jules Catering in 1991. Initially financed out of their own savings, the business eventually grew to where they needed institutional support to expand and Wainwright provided it. "We went to other banks, but they didn't know how to work with us as a small business -- they were too bureaucratic," said co-owner Alice Fisher. "Wainwright isn't like a regular bank, and the Wainwright people are not like most bankers. The Bank has a certain set of values that it lives out -- that's a rare thing," said Fisher. The bank has since provided a series of loans that has helped Jules Catering grow into one of the largest caterers in the Boston area.

Silent Spring Institute

Wainwright supports, through a line of credit, the Silent Spring Institute, a partnership of scientists, physicians, public health advocates, and community activists united around the common goal of identifying and changing the links between the environment and women's health, especially breast cancer. Silent Spring Institute is named in recognition of Rachel Carson's pioneering book that tied the use of pesticides to adverse effects on wildlife. Silent Spring Executive Director Julia Brody was honored with the 2002 Wainwright Bank Social Justice Award.

Junction Place

As a developer of affordable housing, Hallie Pinta, Principal of Compass Housing, is a rarity in the world of real estate development. And what's even more rare is the fact she is a woman in this male-dominated industry. Wainwright Bank provided financing for the construction of her first development, Junction Place, a five-unit 40B affordable housing project located in Needham, MA. Because of the success of Junction Place, Wainwright is currently working on providing financing for Compass Housing's next development in the Boston area.

ABOUT WAINWRIGHT BANK

Founded in 1987, Wainwright Bank is a socially responsible commercial bank with assets of over $600 million primarily serving neighborhoods in Boston, Cambridge, Watertown and Somerville. Nearly 40% of the Bank's commercial loan portfolio is dedicated to community development initiatives including affordable housing, homeless shelters, HIV/AIDS services, breast cancer research, and environmental protection to name a few. Over the last decade, Wainwright has provided loan commitments of over $300 million to these and other community development projects. For more information visit www.wainwrightbank.com.

ABOUT THE RECOGNITION FOR WAINWRIGHT BANK

On August 6, 2003, the Community Investing Campaign held a national news conference and singled out for praise the following groups: Cascadia Revolving Fund (Seattle, WA); Foundation for International Community Assistance (FINCA) (Washington, D.C.); McAuley Institute (Silver Spring, MD); Newcorp Business Assistance Center (New Orleans, LA); New Hampshire Community Loan Fund (Concord, N.H.); Nicaraguan Credit Alternatives Fund (NICA Fund) (Madison, WI); Santa Cruz Community Credit Union (Santa Cruz, CA); Shared Interest, Inc. (New York, N.Y.); ShoreBank (Chicago, IL); Wainwright Bank & Trust Company (Boston, MA); and Women's Self-Employment Project (Chicago, IL).

The Community Investing Campaign is a joint partnership of the Social Investment Forum Foundation and Co-op America. The Social Investment Forum Foundation is a national nonprofit research and education organization focused on socially responsible investing. Co-op America is a national nonprofit organization founded in 1982 that provides the economic strategies, organizing power and practical tools for businesses and individuals to address today's social and environmental problems. The Campaign's Web site is www.communityinvest.org.

Community investing is financing that generates resources and opportunities for economically disadvantaged people in U.S. and overseas communities that are underserved by traditional financial institutions. Community investors make it possible for local organizations in urban and rural areas to create jobs, provide financial services to low-income individuals, and supply capital for small businesses (including environmental product and services), affordable housing and vital community services, such as childcare.

Today, an estimated $7.6 billion from U.S. investors is at work in more than 500 community-based financial institutions serving low-income clients. They have enabled people earning the minimum wage in North Carolina to purchase homes, assisted impoverished battered women in Texas in opening a community-based shelter, and provided displaced timber workers in the Pacific Northwest with loans to start successful and environment-friendly businesses.

CONTACT: for the Community Investing Campaign, contact Stephanie Kendall at (703) 276-3254 or skendall@hastingsgroup.com.

EDITOR'S NOTE: A streaming audio replay of the national Community Investing Campaign news event at which (Your Group) was honored will be available on the Web as of 6 p.m. EDT on August 6, 2003 at http://www.communityinvest.org.

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