June 28, 2000

People's Celebrates Five-Year Anniversary on Internet with Updated Web Site

peoples.com helps provide seamless experience for customers

BRIDGEPORT, CONN.
People’s Bank is celebrating its five-year anniversary on the Internet by launching a new and enhanced peoples.com. The new design features easier navigation and embodies the “look and feel” of People’s network of 141 branches throughout Connecticut. The goal, say designers, is for all of People’s key constituencies – customers, communities, shareholders and employees – to interact with the bank through peoples.com

“We are transforming People’s Bank and enhancing our competitive advantage by combining our technological advances with the customer focus that is a hallmark of this organization,” said John A. Klein, People’s chairman, chief executive officer and president. “Our goal is to provide seamless, financial services solutions for all of our customers, whatever the product or service and however they interact with us – in a branch, by telephone, or over the Internet.”

People’s was one of the first banks in the country to launch a web site when it introduced peoples.com five years ago. The original site included information about the organization, as well as links to Connecticut-based community, news and arts and entertainment sites. peoples.com was re-designed in late 1996 to include more information about products and services, and it has featured increasing levels of functionality since then.

Today, People’s boasts one of the only fully integrated online banking and investing platforms on the Internet. As part of its previously announced “bricks and clicks” strategy, People’s is building 30 new branches while it is broadening the services provided online.

Most recently, People’s created a separate division for e-business that it anticipates will be an engine of transformational change for the bank. The e-business division will focus on developing the strategies and technologies needed to expand People’s Internet presence, while taking advantage of the myriad opportunities in this rapidly changing business environment.

“Using the Internet, we can deliver a full range of financial services to more people with greater convenience and efficiencies,” said Michael J. Leone, executive vice president, People’s e-Business division. “Internet services are an important complement to our more traditional banking initiatives, such as our 30-branch expansion plan.”

peoples.com gives consumers the ability to buy and sell securities, review checking and brokerage account balances and transfer funds between People’s Bank Plus checking accounts and investment accounts at People’s Securities, Inc., the bank’s NASD-member brokerage firm. It is also tailored to meet business customer needs, from the small business banking customer through to the large corporate customer.

People’s Bank (www.peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest independent bank in Connecticut with managed assets of more than $13 billion, 141 branches and more than 220 ATMs. People’s is a leader in commercial banking, residential lending, Savings Bank Life Insurance sales and supermarket banking. An international credit card provider, it ranks 17th nationally as an issuer of MasterCard and Visa cards. People’s subsidiaries offer brokerage, asset management, equipment financing and leasing, and insurance services.

CONTACTS:
Deborah P. MacDonnell, manager, External Communications, 203-338-3255 or dpmacdo@peoples.com

Roberta Burns-Howard, vice president, Corporate Communications, 203-338-2378 or rjburns@peoples.com.