December 16, 2002

Beardsley, Brown & Bassett Expands Sales Force

Insurance Firm Works to Ensure Customer Focus

BRIDGEPORT, CONN.
Beardsley, Brown & Bassett, a subsidiary of People's Bank, today announced it has hired two new employees in the sales arena. Edward J. Paulson has been named director, Life Sales;Angelo D. DiMatteo has joined the firm as account executive. The new hires will continue to embody BB&B's focus on uncovering and meeting client needs.

Edward J. Paulson, with more than 17 years of experience in life, disability and long-term care insurance, has been hired as director of Life Sales. Most recently, Paulson was with Insurance Services at People's Bank. He has a track record of providing advanced insurance solutions tailored to the needs of successful individuals and businesses. Paulson earned a bachelor's degree in economics from the University of Bridgeport. He currently serves on the board of directors of The Helping Hand Center in Bridgeport. Paulson and his wife, Diane, live in Shelton with their daughter, MaryAnn.

Angelo D. DiMatteo has joined the firm as account executive. He has more than 10 years experience in the employee benefits field and specializes in health, dental, life and disability insurance, and 401(k) plans. He began his work in the insurance industry with CIGNA in New York City and most recently was with Oxford Health Plans. DiMatteo earned a bachelor's degree in finance from the University of Connecticut and is currently enrolled in the Certified Employee Benefits Specialist program. He lives in Wallingford with his wife, Maureen, and their two children.

In addition, Robert O'Connor and Preciosa Carneiro, both in Commercial Insurance with BB&B, have earned the Chartered Property Casualty Underwriter designation. The CPCU designation underscores the individuals' commitment to providing comprehensive expertise and financial guidance for their clients.

Robert O'Connor, a vice president who has been with BB&B since 1990, recently earned the CPCU designation. His specialty is commercial insurance sales and service. To serve the needs of his business clients, O'Connor designs custom insurance programs and also specializes in professional liability insurance for attorneys, physicians and information technology companies. He has a bachelor of arts degree in communications from Boston College, and is actively involved in community programs including the Junior Achievement "Project Business" program, as well as serving as treasurer of the Fairfield YMCA's board of managers. O'Connor is a volunteer coach for both the Fairfield Recreation Soccer Program and the Greater Bridgeport Junior Hockey Association. He lives in Fairfield with his wife, Linda, and their two children, Meghan and Matthew.

Preciosa Carneiro is a sales associate with more than 30 years of commercial insurance experience and recently earned the CPCU designation. She currently is working toward her bachelor's degree at Sacred Heart University. She has assisted BB&B in setting up new programs for specialized industries such as equipment, tent and party rental dealers. Carneiro is a participant on the Leadership Counsel of Greater Bridgeport. She and her family live in Fairfield.

Established in 1884, Beardsley Brown & Bassett is a division of RC Knox, a subsidiary of People's Bank. With more than 100 years of superior service, BB&B is experienced in the full range of commercial and employee benefits insurance products and brings exceptional value to its clients.

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 $13 billion, 154 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 16th-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.