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For Immediate Release
January 24, 2003

Contact:
Meg Dempsey
(207) 828-7055
E-mail: jason@wolfenews.com

Jason Wolfe
(207) 775-5115

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

Peoples to Award $25,000 in Scholarships to 10 Maine High School Seniors

Part of the bank's 'Peoples Promise' program

High school seniors headed to college this fall may now apply online for scholarships awarded each year by Peoples Heritage Bank as part of the bank's nationally recognized "Peoples Promise" program created to help Maine youth.

Scholarships of $2,500 will be awarded to 10 Maine high school seniors from throughout the state. Now in its fifth year, the scholarship program is designed to reward Maine students from low- to moderate-income households for academic excellence and help offset their higher education costs.

"We are committed to expanding the opportunities available to Maine youth by assisting them with the ever-increasing cost of education," said Michael W. McNamara, president and CEO of Peoples. "With this scholarship program, we hope to make a difference in the lives of young people in our state. Our company is a strong advocate and supporter of higher education and believes that all Maine youth have the opportunity to attain it."

Awards are based on financial need, academic achievement, involvement in school activities, community volunteer activity, work experience, and a required essay. The application deadline is March 21. Scholarship recipients will be announced in May.

Scholarship applications are available online at the web site of the MES Foundation, a not-for-profit organization which is administering the scholarship program for Peoples. The $2,500 scholarships will be awarded to 10 graduating high school seniors who will enroll in a post-secondary institution. Also, the recipients are offered a three-month paid internship position with Peoples after their first year of post-secondary education.

For more information or to obtain an application, go to www.mesfoundation.com, or call the MES Foundation at 1-800-922-6352.

When the program was launched in January of 1999, Peoples committed $250,000 in scholarships over a 10-year period as part of Peoples Promise. The 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 in classrooms throughout the year to teach sixth graders about economic concepts.

Also part of the bank's initiative is sponsorship of the annual Groundhog Job Shadow Day, organized by Junior Achievement. The event, to be held January 31, allows students to see what a real job is like.

Additionally, Peoples' charitable giving is focused on organizations providing support to children, including the YMCA, 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. The 2003 race, set for August 2, will benefit Seeds of Peace, an organization that promotes tolerance and understanding among youth. The organization brings together youth from troubled regions of the world as well as Maine to co-exist at a summer camp in Otisfield as part of an internationally-recognized conflict resolution program.

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.

# # #

2002 'Peoples Promise' Scholarship Recipients


Micah Davis-Johnson of Portland, Deering High School

Jennifer Corey of Yarmouth, Yarmouth High School

Aaron Agostino of Freeport, Freeport High School

Nathan Chapnick of Camden, Camden Hills Regional High School

Jesse Mynahan of Minot, Poland Regional High School

Erin Thompson of Peru, Mountain Valley High School

Laurie Kenney of Jay, Jay High School

Morey Hallett of Freedom, Mount View High School

Karla McPhail of Dennysville, Shead High School

Elizabeth McQuade of Presque Isle, Presque Isle High School






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