August 1, 2002

UCONN Partners With People's Bank

BRIDGEPORT and STORRS, CONN.
People's Bank and the University of Connecticut today announced that People's has extended its relationship with the University of Connecticut community by forging partnerships with the Division of Athletics and the UConn Co-op. Through these partnerships, People's will support UConn's nationally recognized sports programs as "the official banking partner of the UConn Division of Athletics," and will serve the university community's financial needs through a new branch office in the new state-of-the-art UConn Co-op.

The 10-year partnerships broaden an established relationship between these Connecticut institutions.

"People's Bank is proud to partner with New England's flagship public university," said John A. Klein, People's chief executive officer and president. "Supporting UConn is supporting the economic vitality of our state."

"People's commitment to UConn underscores this university's commitment to maintaining a first-class, nationally respected athletics program," said UConn Athletic Director Lew Perkins. "As such, it is important that we associate ourselves with premier partners. People's is all of that in Connecticut, and has already proven itself to the university."

As the exclusive banking partner of UConn athletics, People's will enjoy the right to use the UConn Huskies name and logo in connection with retail and other associated bank offerings for its customers throughout the state, many of whom are long-time, dedicated UConn fans and alumni.

"The UConn athletics program is a powerhouse, and we're thrilled to be its official banking sponsor," said Klein. "We're absolutely delighted to be associated with two of the premier men's and women's college basketball programs in the country. Under Lew's leadership, UConn football has jumped to Division I-A status and eagerly awaits the 2003 season opening of the new 40,000-seat stadium at Rentschler Field. In addition, we're delighted to be associated with the many other outstanding UConn athletic programs, including men's and women's soccer, baseball, field hockey and women's ice hockey, to name just a few. And as exciting as the past 10 years have been for UConn athletics, I am convinced the decade ahead will be even more exciting and successful."

Beginning this fall, the partnership with UConn's division of athletics will be very visible on campus, with People's signage throughout the athletic facilities. People's also will be featured in radio and television broadcasts of UConn sports events. Additionally, People's will receive annually more than 2,000 tickets to various UConn sporting events that People's will make available to youth in Connecticut.

Through its partnership with the UConn Co-op, People's will open a 1,000-square-foot branch bank within the UConn Co-op's brand new state-of-the-art facility, which, when completed in early fall, will be the largest collegiate bookstore in Connecticut. People's will bring its own brand of customer-focused banking and investing to UConn students, faculty, staff and members of the university community to help them achieve their financial goals.

"Every day we strive to fulfill the UConn Co-op's vision for the future - to be a resource of choice for a diverse university community, by exceeding customer expectations and making a difference," said William P. Simpson, president, University of Connecticut Cooperative Corporation. "People's Bank shares our vision, and supports it with a level of customer service and community involvement that is unmatched in Connecticut."

In addition to opening a branch, People's will play an active role within the university community by providing banking services, including its highly regarded financial education seminars and credit counseling services, and will offer students opportunities for employment through internships and work-study programs.

"Through this partnership with the UConn Co-op, People's complements the services provided to a university community that includes more than 22,000 students," said Robert R. D'Amore, executive vice president, Marketing and Regional Banking, for People's. "The leadership at People's and at the UConn Co-op all strive to provide the same outstanding customer service -and with this positive approach, we will forge long-standing relationships with the people we serve."

People's has been a strong supporter of UConn programs - both academic and athletic - and counts among its 3,600 employees many UConn alumni, including Klein. Last fall, People's and UConn announced "A Partnership to Nurture Connecticut's Future," a comprehensive effort that supports several educational areas within the university. Through this partnership, People's funds internships at non-profit and government agencies for students in the College of Liberal Arts and Sciences;supports the nationally recognized, comprehensive school reform program spearheaded by the Neag School of Education;supports the Family Business Program in the School of Business;and enables minority middle and high school students to work with the UConn Health Center to lay the groundwork for careers in medicine.

Previously, People's also provided the capital to endow the People's Bank Athletic Scholarship and the People's Bank Scholarship Fund, both among the endowment funds managed by the UConn Foundation.

The branch office at the UConn Co-op will be open six days a week for the convenience of the university community. Monday through Wednesday and Friday the office will be open from 9 a.m. to 5 p.m. Thursday, from 9 a.m. to 7 p.m., and Saturday from 10 a.m. to 2 p.m. The ATMs at the Co-op will be available 24 hours a day, seven days a week.

About The University of Connecticut
The University of Connecticut is ranked the top public university in New England by U.S. News & World Report.

About People's Bank
People's (peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest state-chartered bank in Connecticut with managed assets of $14 billion, 150 branches and 230 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the nation's 15th-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.

About UConn Co-op
The UConn Co-op (uconnco-op.com) is a not-for-profit, cooperative serving as the official bookstore for the University of Connecticut community. It is owned by its members and governed by an elected board of directors. At present there are approximately 26,000 members, primarily students, faculty, staff and alumni of the University of Connecticut. In addition to the bookstore on the Storrs campus, the UConn Co-op operates bookstores at the five regional campuses of the University and at the UConn School of Law. The UConn Co-op also operates HuskyShop II at the Hartford Civic Center.

Media Contact
Deborah P. MacDonnell
Manager, External Communications
(203) 338-3255, dpmacdo@peoples.com