April 29, 2003

Milford Resident Named as VP at People's Securities

BRIDGEPORT, CONN. - People's Bank today announced Dennis P. Beirne has been promoted to vice president and manager, Business Applications, at People's Securities, Inc., its brokerage subsidiary. In this role, Beirne will focus on increasing customer service and productivity capabilities by maximizing the value vendors, systems and processes provide People's Securities.

"We are extremely fortunate to have someone with Dennis' background in investments and expertise in information technology," said Michael Harkins, first vice president, People's Securities. "Dennis will help us provide clients with a superior customer experience by offering products and advice that meet their needs and exceed their expectations."

Beirne joined People's Securities in 1992 and was named as technology manager in 1997. In this capacity, he was responsible for application design, testing, integration and post-deployment support. He also oversaw disaster recovery planning as well as hardware/software specification and purchase. In addition, his work on People's Securities data warehousing initiative made possible the integration of brokerage and bank information, resulting in People's Investor Plus™ Checking account.

Beirne lives in Milford with his wife, Jan, and their two children, Skylar and Jaxon.

People's Securities, Inc. (peoples.com), an NASD member brokerage firm and wholly-owned subsidiary of People's Bank, celebrates its 20th anniversary in 2003. The firm offers a complete range of investment and insurance products, including stocks, bonds, options, money market funds and fixed- and variable-rate annuities, life insurance and asset management accounts. It also offers financial guidance including retirement, education and financial planning. Founded in 1983, People's Securities is based in Bridgeport and staffs People's statewide branch network with licensed financial advisers.

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 consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the nation's 19th-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.