June 19, 2003

People's Announces Academic Preferred Provider Program

BRIDGEPORT, CONN. - People's Bank today announced preferred provider partnerships with five educational institutions nationwide. The partnership programs ensure special discounts and online offerings to bank employees pursuing undergraduate and graduate degrees as well as certificate programs.

"At People's, we believe that, through continuing education, our employees are better equipped to exceed their customers' expectations and contribute to the success of the bank," said Hank Mandel, executive vice president of Organization Effectiveness. "Our employees have identified personal and professional development as key to job satisfaction and their commitment to their careers and customers at People's. These findings motivate us to provide our employees with the scholarship program and the preferred provider relationships."

The institutions participating in People's partnership programs include: Albertus Magnus College;Fairfield University;New England College of Finance;Sacred Heart University and University of Phoenix Online.

New England College of Finance and Sacred Heart University announced a partnership through which People's employees can transfer New England College of Finance credits from associate degrees and certificate programs to Sacred Heart.

"This is a powerful partnership structure, one that will leverage the outstanding programs of Sacred Heart and the New England College of Finance to expand the use of e-learning for the benefit of People's Bank employees," said Robert Regan, president and CEO of the Boston-based college.

The new partnership also assists Sacred Heart in serving the local business community and adult student. "Our relationship with New England College of Finance highlights our desire to serve the needs of adults in their quest for knowledge, growth and learning," said Nancy Sidoti, interim dean of Sacred Heart's University College, its adult education program. "I believe that all parties will benefit from this unique partnership."

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.