For Immediate Release

Contact: Coleman Nee
JKN Strategies, Inc.
781-741-8100

Boston - On September 8, 2003 --- Mt. Washington Bank is pleased to announce the kickoff of its "Extra Credit" school program. The "Extra Credit" program was designed to provide more educational resources for our schools and, ultimately, for the benefit of local school children.

Starting this month, if a customer opens a new checking account at any Mt. Washington Bank branch, the Bank will donate $10.00 to their school of choice and an additional $10.00 each year in the future that the account is active and in good standing. Local schools, both public and private are eligible for the contribution. Existing Mt. Washington Bank customers can also take advantage of this program by telling a friend to open a new Mt. Washington bank checking account. The Bank will contribute $10.00 to whatever school that friend designates and an additional $10.00 contribution to a school of the existing customer 's choice when the account is opened.

Mt. Washington bank believes that adequate funding for local education is a critical component of any community. In 2001, Massachusetts spent over $8.8 million for public elementary and secondary education and the final numbers for 2002 show an increase to almost $9.7 million.

However, many local schools have been forced to cut back or eliminate valuable educationalprograms in order to keep others. As resources continue to cost more, the cost of effectively operating our schools will continue to rise.

" Every child deserves a quality education. Education plays a key role in building healthy communities, creating good jobs, and securing a promising future for our children," said Edward Merritt, President and CEO, "A recent nationwide study shows that teachers spend about $350 our of their own pockets each year for school supplies. That is unacceptable. Therefore, in addition to the tens of thousands of dollars the Mt. Washington Charitable Foundation gives to local schools each year, we hope that new and existing customers will take advantage of the "Extra Credit" program and help our schools by signing on with a true community bank that cares."

Persons interested in the "Extra Credit" program can visit their nearest Mt. Washington Bank branch, call the Ultimate Service Center at 617-268-8880 or visit them on the web at www.mtwashingtonbank.com.

Founded in 1893, Mt. Washington Bank has stayed committed to the promise outlined in its mission statement by being "full-service independent bank, offering financial services to meet the needs of its retail and small business community."

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