January 14, 1999
FOR IMMEDIATE RELEASE

WAINWRIGHT BANK USES AWARD MONEY
TO ESTABLISH A FUND AT
THE BOSTON FOUNDATION

Boston, MA, January 14, 1999 - Wainwright Bank & Trust Company has taken its recent award money from the Department of Treasury to set up an Advised Fund at the Boston Foundation. The Fund will have assets of nearly $130,000, which the Bank received recently in the form of an Enterprise Award from the federal government. Enterprise Awards, which were begun in 1996, are given annually to recognize and stimulate further investment by banks in their local, under-served communities.

Wainwright's Advised Fund at the Boston Foundation will be used to enable the Bank to deepen and broaden its already significant commitment to social justice in Greater Boston. In the past, the Bank's philanthropic grantmaking has been in the $500 to $1,000 range, primarily in the areas of affordable housing, homelessness, community development, women's rights, and the gay and lesbian community.

"We are pleased to support such an eminent institution as the Boston Foundation with its distinguished history of funding worthy programs and organizations in the Greater Boston area," observed Pam Feingold, Senior Vice President of Wainwright Bank & Trust Company. "We hope to also affect change through grants to those working to promote social justice."

Wainwright Bank, founded in 1987, is a $300 million commercial bank that is known for its progressive social agenda. Under the guidance of President Jan Miller, Wainwright has become an industry leader in socially responsible community development, including the financing of over 50 percent of the local housing projects for people living with AIDS and the creation of over 500 units of affordable and special needs housing in Boston and Cambridge. Wainwright is also a national leader in financing shelters for the homeless and was one of the first banks in the United States to offer an affinity card supporting both women's issues and gay and lesbian rights.

Advised funds represent one type of fund donors can establish at the Boston Foundation, which enable them to play an active role in grantmaking. As Anna Faith Jones, President of the Foundation, explains, "By making their gifts through the Boston Foundation, these donors may draw on the Foundation's expertise in identifying and evaluating giving opportunities that match their interests."

The Boston Foundation was established in 1915 as a community foundation and currently has assets of over $550 million. Under the leadership of a 12-member Board of Trustees representing a cross-section of the community, the Boston Foundation made grants of approximately $32 million to over 1600 organizations in FY1998.

For more information about Wainwright's charitable giving or how to apply for a grant, individuals may refer to the Bank's website at www.wainwrightbank.com or contact Pam Feingold at 617-478-4000.

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