April 25, 2005

People's Bank Executives Ring Nasdaq Opening Market Bell

People's in Top 10% of All NASDAQ-traded Companies for 2004 Stock Price Appreciation

BRIDGEPORT, CONN. - Executives of People's Bank (NASDAQ: PBCT) today rang the opening market bell at the NASDAQ stock exchange in New York's Times Square. The event was broadcast live on CNBC this morning.

The bank's stock has been listed on the NASDAQ since People's initial public offering on July 6, 1988. The exchange invited People's to ring the opening bell in recognition of the bank's record earnings last year as well as its stock price performance, which placed the bank in the top 10 percent of all NASDAQ-traded firms for 2004. People's Bank had the greatest stock price increase of any regional bank in the nation in 2004, at 80 percent, according to the American Banker. The total return to People's shareholders, including dividend reinvestments, was 86 percent for 2004.

Chief Executive Officer John Klein and Chief Financial Officer Philip Sherringham rang the bell with representatives from every division of the bank. The opening ceremonies also are expected to be broadcast on Bloomberg TV and CNN.

Founded in 1842, People's Bank (peoples.com) is one of Connecticut's largest banks with assets of $11 billion, more than 240 ATMs and 154 branches, 67 of which offer convenient seven-day banking in Super Stop & Shop locations across the state. A diversified financial services company, People's Bank provides consumer, commercial, insurance, retail investment and trust services to personal and business banking customers. People's Bank is the official banking partner of the University of Connecticut Division of Athletics. For more information about People's, its products and services, please call 800-772-1090, visit peoples.com or any of People's branches.