FOR IMMEDIATE RELEASE
CONTACT: Brenda D. Farrell, Corporate Communications Manager, 401-348-1363
DATE: August 10, 2004

Washington Trust Finances Westerly KFC Franchise

Westerly, Rhode Island... The Washington Trust Company has provided $850,000 in construction and permanent financing to John A. and Rose Daluz, owners of the Kentucky Fried Chicken franchise located at 160 Granite Street in Westerly. The loan was made in conjunction with the Small Business Administration (SBA) and comes with a 75% SBA guarantee.

"We are very pleased to be able to help finance the reconstruction of the KFC franchise, which has been a fixture here in Westerly for more than 25 years," said John C. Warren, Chairman and CEO of The Washington Trust Company. "The new building looks great and we wish them continued success."

Yesterday, a ribbon cutting ceremony was held for the new KFC building and it is now open for business.

The Washington Trust Company is the largest independent bank headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including trust and investment management, through its 16 branch offices located in Rhode Island and southeastern Connecticut. Founded in 1800, 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.