December 24, 2002

People's Names Hylinski Treasurer

BRIDGEPORT, CONN.
People's Bank announced today that the board of directors elected Thomas Hylinski, senior vice president, as treasurer of the bank.

As treasurer, Hylinski will be responsible for People's overall treasury functions and his duties will include managing the funding needs of the bank and its investment portfolio. In addition, Hylinski will assume the role of acting-interim chief financial officer effective immediately until a new CFO is hired, at which time he will remain as treasurer and report to the new CFO.

"Tom has a wealth of financial experience at the bank," said John A. Klein, president and CEO. "He has over 13 years of experience working in Treasury, Investments and Corporate Finance. Tom also spent over 11 years managing our Residential Lending area. Most recently he led the mass affluent market segment as senior vice president, Investor Services."

Hylinski, who joined People's in 1977, holds a bachelor's of arts degree from Southern Connecticut State University and earned his masters of business administration from the University of Connecticut. He is a chartered financial analyst.

Hylinski resides in Orange with his wife and two children.

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, 155 branches and over 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.