Banknorth Group Signs Statement of Support for Guard and Reserve Employees

Company has employees in 6 northeastern states

PORTLAND, Maine (May 30, 3003) -- William J. Ryan, Chairman, President and CEO of Banknorth Group, Inc., signed a Statement of Support Friday morning for the Maine-based company's guard and reservist employees located in six northeastern states.

Organized by the Maine Committee of the Employer Support of the Guard and Reserve (ESGR), an agency of the U.S. Department of Defense, the signing took place at the company's corporate headquarters at Two Portland Square in Portland, Maine.

"Banknorth has taken the lead by demonstrating their commitment to their Reserve Forces," said Bobby G. Hollingsworth, executive director for the National Committee for ESGR. "By signing a Statement of Support, they are making a valuable contribution to the quality of life of numerous Guard and Reserve employees."

Nationwide, 1.2 million Americans serve in the Reserve Forces - Army Reserve, Army National Guard, Navy Reserve, Marine Corps Reserve, Coast Guard Reserve, Air Force Reserve, Air Guard - and make up almost half of the national defense strength, according to the ESGR. Banknorth employs many who are members of the National Guard and Reserve in six states, some of whom were activated for military duty.

According to the ESGR, since the terrorist attacks on the U.S., the onset of "Operation Enduring Freedom" and the activation of thousands of National Guard and Reserve troops, employers have played a critical role in national defense. One way in which employers can publicly demonstrate their support for their employees who are in the National Guard and Reserve is to sign such a Statement of Support.

The statement supports the rights of employees in the National Guard and Reserve. In it, employers like Banknorth pledge that:

1. Employment will not be denied because of service in the Guard and Reserve;
   
   
2. Employee job and career opportunities will not be limited or reduced because of service in the Guard or Reserve;
   
   
3. Employees will be granted leaves of absence for military training in the Guard or Reserve, consistent with existing laws, without sacrifice of vacation; and
   
   
4. This agreement and its resultant policies will be made known throughout our organization.

ESGR is a Department of Defense agency established in 1972 to promote understanding and support among employers of employees who serve as members of the National Guard and Reserve. For more information, go to www.esgr.org.

Banknorth Group, Inc. (NYSE: BNK) is one of the country's 35 largest commercial banking companies with $26.3 billion in assets. The Company's banking subsidiary, Banknorth, N.A., operates banking divisions in Maine (Peoples Heritage Bank), New Hampshire (Bank of New Hampshire), Massachusetts (Banknorth Massachusetts), Connecticut (Banknorth Connecticut), Vermont (Banknorth Vermont) and upstate New York (Evergreen Bank). The company and its banking affiliates also operate subsidiaries in insurance, investment planning, trust and investment services, leasing, merchant services, mortgage banking, government banking and other financial services. For more information about Banknorth, visit the company online at www.banknorth.com.

# # #

William J. Ryan, seated, Chairman, President and CEO of Banknorth Group, signs a Statement of Support Friday morning for all Banknorth employees in the National Guard and Reserves. Organized by the ESGR (Employer Support of the Guard and Reserve) in Augusta, Maine, with him at the event are, from left to right, Major Stephen Hatt, Executive Director of Maine Committee of ESGR; Edwin Clift, State Chairman of Maine ESGR and President of Merrill Merchants Bank in Bangor; Colonel Don McCormick, Chief of Staff; and Lt. Colonel Mike Girardin, Commander of the 243rd Engineering Squadron, Maine Air National Guard, South Portland, Maine and a Commercial Appraiser at Banknorth Group.