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For Immediate Release
June 10, 2003

Contact:
Brian Arsenault
(207) 761-8517
E-mail: barsenault@banknorth.com

Beryl Wolfe
(207) 883-6083

Web Site: http://www.tdbank.com/

Banknorth Group Dedicates New Office Complex in Falmouth

Building Represents Banknorth's Growth in Recent Years

Falmouth, Maine (June 10, 2003) -- The Chairman, President and CEO of Banknorth Group, Inc., William J. Ryan, dedicated Banknorth Group's new office complex in Falmouth, Maine today (Tuesday) at a ceremony with local community leaders, saying the new facility is representative of the company's steady growth in recent years.

The new building spans 140,000 square feet, has three stories, 17 departments and 500 employees. It is one of the largest office locations in Banknorth's six-state territory throughout New England and upstate New York.

Banknorth Group, Inc. (NYSE: BNK), headquartered in Portland at Two Portland Square, is a $26.3 billion commercial banking company that has reported record earnings for 10 consecutive years. The company now has more than 7,500 employees in six states, including Maine (Banknorth Group and Peoples Heritage Bank), New Hampshire (Bank of New Hampshire), Massachusetts (Banknorth Massachusetts), Vermont (Banknorth Vermont) Connecticut (Banknorth Connecticut) and upstate New York (Evergreen Bank).

"The new facility enabled us to consolidate the various offices we had set up throughout the Greater Portland area due to our growth in recent years, especially in Maine where we have added 200 jobs in the past year and now have more than 2,500 employees. The combining of those offices and departments into one facility in Falmouth has helped us improve our operations efficiency and customer service programs, while also giving the 500 employees working there parking and other benefits in one centralized building," said Ryan.

The new building has an expansive corporate training center, video conferencing capabilities, a state-of-the-art security system, a full service mailroom and expanded conference and meetings rooms. More than 17 departments are located in the facility, including Consumer Lending, Marketing, eCommerce, Banknorth Mortgage, Training, and Consumer Collections.

The facility has a gym and fitness center with lockers and showers, outdoor running trails in a park-like setting, a large lunch room with vending machines, a private dining room, dry cleaning services, as well as health classes, seminars and meetings for employees. In addition, a METRO bus stop is located outside the facility.

In Maine, where Banknorth has more than 2,500 employees, the company increased jobs in the state by 9 percent last year. In addition, more than 600 employees work in Banknorth's primary operations center at the Bates Mill complex in Lewiston, Maine.

The $18 million building is the largest office building in Falmouth, is part of an emerging business and commercial center known as West Falmouth Crossing Business Center. It was developed by Dead River Properties of Portland. Architects for the project were SMRT, Inc. of Portland, and the general contractor was MacMillin Company of Bedford, New Hampshire.

In addition, Banknorth also operates subsidiaries and divisions in insurance (Banknorth Insurance Group), investment planning (Bancnorth Investment Planning Group), trust and investments services (Banknorth Investment Management Group), leasing (Banknorth Leasing) as well as merchant services, mortgage banking, government banking and other financial services.


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From left to right are Rick Dempsey, Banknorth Marketing; Patty White, Banknorth Sales Development; Bill Ryan, Chairman, President and CEO of Banknorth Group, Inc.; Doug Harris, Falmouth Town Manager; Dave Stimpson, Banknorth Mortgage; Tom Hogan, Banknorth Consumer Lending; John Menario, Banknorth Executive Vice President; Barbara Ream, Banknorth E-Commerce; and Don
Webster, Banknorth General Services.




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