Salem State College Receives $100,000 Gift for New
Performing Arts Center

Eastern Bank’s capital campaign donation is one of the largest by a corporation

SALEM, Mass., March 5, 2003 – Salem State College received a $100,000 donation from the Eastern Bank Charitable Foundation for the construction of its new Center for the Creative and Performing Arts, the college announced today.

The donation is one of the largest by a corporation since the college’s $5 million capital campaign was launched. The donation will help fund Phase II of the college’s ambitious Central Campus renovation project, which will transform the 37.5-acre site into new facilities for the art and business schools.

“Thanks to Eastern’s generosity, we are another step closer to creating a new Center for the Creative and Performing Arts to serve both our students and residents across the North Shore,” said Nancy D. Harrington, President of Salem State College.

Through its Foundation, Eastern supports hundreds of not-for-profit organizations on the North Shore and Greater Boston each year. This donation is one of the largest ever from Eastern’s Charitable Foundation.

“There is no question that Salem State contributes greatly to the quality of life in Salem and the North Shore,” said Stanley J. Lukowski, Chairman and CEO of Eastern Bank. “The new Center is just the latest example of the college’s commitment to its students and the North Shore. We are pleased to support the college’s efforts to strengthen its reputation as a first-class college.”

The first phase – renovation of Building One for the School of Business, the Music Department and Information Technology – began last spring. Eastern’s donation will benefit Phase II, which consists of the Art Gallery and Theater Complex and is slated for completion in 2006.

Salem State is the fifth largest public institution of higher education in Massachusetts and the largest of the nine state colleges, with 8,600 undergraduate and graduate students. Undergraduate students may choose from 20 academic degree programs and more than 50 areas of concentration, while the graduate division offers nine degree programs with 32 areas of concentration.

Founded in 1818, Eastern Bank is New England’s largest mutually-owned, independent commercial bank, with $4.4 billion in assets, $3 billion in commercial and consumer loans and 47 branches in Greater Boston. Eastern has a full line of consumer, commercial and investment banking products.