Audit Committee

People's United Bank has a standing Audit Committee, which is responsible for monitoring the accounting practices and internal controls of People's United, and has sole authority over the supervision of the Bank's annual independent audit.

The members of the Audit Committee are George P. Carter (Chairman);  Janet M. Hansen;  Jerry Franklin;  Richard M. Hoyt;  Jeremiah J. Lowney, Jr.

The Board of Directors has determined that each member of the Audit Committee is "independent" as that term is defined by applicable NASDAQ listing standards and rules promulgated by the Securities and Exchange Commission.

The Board of Directors has also determined that Director Janet M. Hansen is an "Audit Committee Financial Expert," as that term is defined under Section 407 of the Sarbanes Oxley Act of 2002 and implementing regulations adopted by the Securities and Exchange Commission.

The Audit Committee's Charter was most recently approved by the Committee at its meeting held on April, 2008.

• Audit Committee Charter