WEYMOUTH, Mass., July 21, 2003 – Eastern Bank officially opened its 50th branch today – a brand new office on the Weymouth-Abington line that features services not typically found at other banks in the region.

The branch lobby features a flat-screen plasma television that brings customers the latest financial news. The drive-up teller window opens at 7 a.m. to accommodate early morning commuters. And the branch is giving away everything from beach bags to Home Depot® gift cards to qualified new customers.

“This branch enables us to expand service to customers in Weymouth, while extending service to residents and businesses in Abington,” said Mark Primeau, executive vice president for consumer banking at Eastern. “It also expands our presence south of Boston to 14 branches.”

Located at 1690 Main Street in South Weymouth, the branch is about 50 yards north of the Abington line on Route 18. A ribbon cutting was held to officially open the branch. Primeau and Eastern Bank President Richard E. Holbrook were joined at the ceremony by Weymouth Mayor David M. Madden, Abington Selectman Robert E. Wing, and acting Abington Town Administrator Dori R. Jamieson.

“This is the third new office we’ve opened in the last four months,” Primeau said. “The new locations underscore Eastern’s commitment to convenience, superior service and accessibility to our specialists who can help customers find the right financial product.”

Eastern already has a branch at 1150 Washington St. (Route 53) in Weymouth, at the intersection of Mutton Lane. It also has a branch at Weymouth Landing in Braintree, less than a half mile from Weymouth. With the new Weymouth office, Eastern will have 50 branches in Greater Boston, stretching from Newburyport to Marshfield.

The new branch will offer a full-range of consumer and commercial products, including “Select Checking” – a relationship account that rewards customers with special rates and benefits for balances maintained in eligible accounts. Select Checking’s benefits include free online banking with bill pay and free use of non-Eastern ATMs. For a limited time, new customers who open a Select account with direct deposit at the branch will receive $25. If customers also open a money market account, they will receive an additional $25.

New customers who open a “Free Checking” account at the branch will receive a beach bag. Free checking’s benefits include no monthly minimum balance requirement, no monthly service charge, free unlimited check writing and a free Eastern Bank Debit MasterCard®.

Also, the new branch is giving away Home Depot® gift cards worth $100 each to customers who apply for and receive either a home equity loan or home equity line of credit worth $10,000 or more.

Based in Boston, Eastern Bank is the largest independent, mutually owned commercial bank in New England. With $4.5 billion in assets and 50 branches in Greater Boston, Eastern offers a full range of financial products for consumers, businesses, investors, government agencies and non-profit organizations. Its wholly owned subsidiaries are Eastern Insurance, one of New England’s largest insurers, and Fantini & Gorga/iCap Realty Advisors, a real estate advisory firm.

For more information, contact: Joe Bartolotta, Public Relations Director, Eastern Bank,
(781) 596-4411, or e-mail Joe Bartolotta.