PEOPLE'S BANK ANNOUNCES CEO HAS SUCCESSFUL SURGERY

BRIDGEPORT, CONN. - People's Bank (NASDAQ: PBCT) today announced that President and Chief Executive Officer John A. Klein has undergone successful cancer surgery. In an e-mail to all employees, Mr. Klein reported that he was doing well and expected to return to the bank in early October. He also indicated that he would be working from home and be in day-to-day contact with the bank's executive officers.

People's (peoples.com) is a diversified financial services company providing commercial, consumer, insurance, retail investment and trust services. Founded in 1842, it is the largest state-chartered bank in Connecticut with assets of $11 billion, 155 branches and more than 240 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales and supermarket banking. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.