Banknorth Group's Rankings Rise on Fortune 1000 and Forbes Super 500 Lists

Banknorth Group's national ranking continues to climb on two prominent national lists - the Forbes Super 500 and the Fortune 1000 - making it one of the country's largest banking companies and one of the industry's most profitable institutions for its shareholders.

Banknorth Group, Inc (NASDAQ: BKNG) was ranked 326th in the Forbes Super 500 list of "America's Top Companies" and was also ranked the 170th company in asset size. Additionally, Banknorth was ranked 285th in profitability on the list, which was published April 15.

Banknorth Group also made the Fortune 1000 list of America's largest corporations, also published April 15. Of the country's 40 largest commercial banking companies, the Maine-based company ranked second in total return to shareholders from 1991 to 2001 with an annual rate of 37 percent. In 2001, Banknorth ranked 12th in the country's 40 largest commercial banks with a 16 percent return.

"These rankings show we are not only one of the largest companies in the country, we are one of the leaders in shareholder value, a reflection of solid performance," said William J. Ryan, Banknorth Chairman, President and Chief Executive Officer. "Our employees' hard work and dedication to customer service has enabled us to thrive and succeed, now more than ever before."

Last Thursday, Banknorth Group announced record quarterly earnings of $67.3 million, or 45 cents per diluted share, for the first quarter of 2002, up 22 percent on a dollar basis and up 15 percent on a per diluted share basis from earnings from the same quarter last year.

Banknorth Group, Inc., headquartered in Portland, Maine, is one of the country's 35 largest commercial banking companies with total assets of $20.9 billion at March 31, 2002. The Company's banking subsidiary, Banknorth, N.A., operates banking divisions in Connecticut, Maine, Massachusetts, New Hampshire, New York and Vermont. Banknorth also operates subsidiaries and divisions in insurance, investment planning, money management, leasing, merchant services, mortgage banking, government banking and other financial services.

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