April 1, 2003

People's Names Milford Resident Andrew Kohl
Vice President Portfolio Manager

BRIDGEPORT, CONN. - Andrew Kohl, CFA, a banking professional with 10 years of investment sector experience, has been named vice president and portfolio manager for People's Bank, company officials announced today.

As one of the co-managers of a $3 billion fixed-income portfolio, Kohl will be responsible for People's investment of mortgage-backed, agency, government and corporate securities. He also will manage the bank's short-term investment portfolio, serve as lead analyst related to the bank's credit card securitization function, and co-manage the hedging activities for all the bank's product lines.

Kohl holds a bachelor of arts degree from the University of Connecticut and is a Chartered Financial Analyst. He is a member of the New York Society of Security Analysts and the Association for Investment Management and Research and is an NASD-registered representative holding Series 7 and 63 licenses.

A resident of Milford, Kohl joined People's as a registered representative in 1996, having previously worked at Merrill Lynch as a financial consultant. He was promoted to interest rate risk analyst in the Treasury/Investment department in 1997. In 1998, he was promoted to assistant portfolio manager and two years later was promoted to portfolio manager of fixed income and derivatives.

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 assets of $12 billion, 155 branches and more than 230 ATMs. People's is a leader in commercial banking, residential lending, life insurance sales, supermarket banking and ranks 19th nationally as an issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.