May 28, 2003

PEOPLE'S SIMPLIFIES LOAN APPLICATION PROCESS

Online Checklist and Forms Streamline Process
BRIDGEPORT, CONN. - People's Bank today announced it has made the small business loan process easier for busy entrepreneurs. The bank's award-winning Web site, www.peoples.com, provides access to a checklist of documents, such as personal and business tax returns and accounts payable and receivable schedules, which applicants need to have at the time of application. In addition, People's loan application and a personal financial statement are available on the site.

"We believe that our new Web offering will be a benefit to those who are pressed for time and value convenience," said Louis Paffumi, vice president, Small Business Banking at People's. "As Connecticut's bank, we are committed to creating a superior customer experience for applicants and to exceeding their expectations for service."

The People's Web site - which in March was rated in the top ten in the Western Hemisphere by Speer and Associates, an independent financial services industry consultant - offers guidance in the loan application process for both existing and start-up businesses. Links also are available to the U.S. Small Business Administration site where applicants can find a model business plan along with other useful information.

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.