FOR IMMEDIATE RELEASE
CONTACT: Brenda D. Farrell, Corporate Communications Manager, 401-348-1363
DATE: August 30, 2004

Washington Trust Finances Providence's L'Epicureo Ristorante

Westerly, Rhode Island... The Washington Trust Company announced today that it has provided $750,000 in commercial financing for Tom and Rozann Buckner, the owners of L'Epicureo Ristorante, a critically-acclaimed Providence restaurant. The loan received a 75% guarantee from the Small Business Administration.

The Buckners are moving the restaurant from 238 Atwells Avenue in the city's Federal Hill neighborhood to 311 Westminster Street in the city's up-and-coming Arts & Entertainment district. L'Epicureo Ristorante will be located on the first floor of The Hotel Providence, an 80-room boutique hotel being developed by Stanley Weiss on the corner of Westminster and Mathewson Streets. The new location will allow the Buckners to double the restaurant's seating capacity from 80 to 160, and a contract to operate the hotel's banquet facilities and room service menu is expected to increase the company's revenues.

"Washington Trust is pleased to finance L'Epicureo's relocation in the Arts & Entertainment District," said John C. Warren, Chairman and CEO of The Washington Trust Company. "The Buckners have had great success with this restaurant over the last ten years, and we wish them even greater success in their new location."

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.