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For Immediate Release
June 25, 2003

Contact:
Julie McQuillan
(207) 828-7558
E-mail: jason@wolfenews.com

Jason Wolfe
(207) 883-6083

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

Peoples Awards $25,000 in Scholarships to 10 Maine High School Students

Part of the bank's 'Peoples Promise' program

Ten Maine high school 2003 graduates were awarded $2,500 each by Peoples Heritage Bank as part of the bank's annual Peoples Promise scholarship program to reward Maine students for academic excellence and help offset their higher education costs.

Senior students receiving the $2,500 scholarships were: Ashley A. Barnard of Unity, Mount View High School; Jessica M. Belhumeur of Stockholm, Caribou High School; Katarina DeKhan of Westport,Kents Hill High School; Zachary C. Drew of Lovell, Fryeburg Academy; Katelyn A. Hallowell of Caribou, Caribou High School; Ryan H. McIntyre of Waldoboro, Georges Valley High School; Cherelle J. Oakes of Dover-Foxcroft, Foxcroft Academy; Katherine A. Porter of Van Buren, Maine School of Mathematics & Science; Jenessa L. Vance of Windham, Windham High School; and Delwyn E. Webster of Vinalhaven, Vinalhaven High School.

Peoples Heritage Bank has pledged $250,000 to establish a 10-year scholarship fund to help young people in Maine attain marketable skills through education. The scholarships are being administered by the MES Foundation. This is the fifth year for the program.

"We are committed to expanding the opportunities available to Maine youth, and assisting them with the ever-increasing cost of education is one way to accomplish that," said Michael W. McNamara, president and CEO of Peoples. "Post-secondary education for students is vital to Maine's continued economic development. Our scholarship program is a way in which we can help facilitate college enrollment."

Scholarship recipients also are offered a three-month paid internship at Peoples following their first year of post-secondary education. The Peoples Promise program, which has been recognized nationally by the America's Promise Program as a significant "promise-maker," also includes a school outreach program whereby Peoples employees volunteer more than 400 hours in classrooms throughout the year to teach more than 1,000 sixth graders about economic concepts.

Additionally, Peoples' charitable giving and sponsorships are focused on organizations providing support to children, including the Boys and Girls Clubs, Big Brothers Big Sisters, March of Dimes and others. The annual Peoples Beach to Beacon 10K Road Race held in Cape Elizabeth also benefits a different children's charity each year. This year's race, which will be held on August 2, will benefit Seeds of Peace, a group that promotes tolerance and understanding among youth around the world through its various camps, including one in Otisfield, Maine. Peoples will provide a cash donation of $30,000 from race proceeds, and Seeds of Peace will further benefit from fundraising opportunities and publicity valued at more than $40,000.

Peoples Heritage Bank is a Maine-based bank with more than 60 branches throughout the state, four of which operate as Oxford Bank & Trust, a subsidiary of the bank. For additional information about Peoples, visit online at www.peoplesheritage.com.

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