FOR IMMEDIATE RELEASE
CONTACT: Brenda D. Farrell, Corporate Communications Manager, 401-348-1363
DATE: January 26, 2004

Washington Trust's Algiere Named to Federal Reserve Board Panel

Westerly, Rhode Island... The Washington Trust Company announced today that Dennis L. Algiere, Senior Vice President, Chief Compliance Officer and Director of Community Affairs, has been named to the Consumer Advisory Council of the Federal Reserve Board in Washington, D.C. Algiere, a resident of Westerly, R.I., will serve a three-year term on the council.

Established in 1976, the Consumer Advisory Council advises the Federal Reserve Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services. The council membership represents the interests of consumers, communities, academics, and the financial services industry. Members are appointed by the Federal Reserve's Board of Governors. The council meets three times per year in Washington, D.C. and the meetings are open to the public. The Federal Reserve System, founded by Congress in 1913, is the nation's central bank.

In addition to this appointment, Algiere serves on several committees of the American Bankers Association, including anti-money-laundering and anti-terrorism committees. In 2003, he was selected by President George W. Bush to serve on the Advisory Committee for the John F. Kennedy Center for the Performing Arts.

Founded in 1800, The Washington Trust Company is a state-chartered bank and offers a full range of financial services, including trust and investment management, through its branch offices in Rhode Island and southeastern Connecticut. The Bank is a subsidiary of Washington Trust Bancorp, Inc. whose common stock trades on The Nasdaq Stock Market® under the symbol WASH. Web site address: www.washtrust.com.