Washington Trust Provides Financing For Saw Mill Square Development Company, LLC and Saw Mill Square Apartments, LLC

August 2, 2007 (Westerly, RI). . . The Washington Trust Company’s Commercial Real Estate Group is providing infrastructure and construction funds to Saw Mill Square Development Company, LLC and Saw Mill Square Apartments, LLC, for the construction of two buildings that will each house 24 condominiums off Namcook Road in North Kingstown. The 24 units represent the first phase of a total of 216 residential units to be built. The project is being developed by Lynn and Steve Moran of North Kingstown.

“Washington Trust is pleased to provide financing to the Morans for the Saw Mill Square project,” said John C. Warren, chairman and CEO of The Washington Trust Company. “The project will provide quality residences and fulfill a strong demand for affordable homes.”

Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for construction of, refinancing of, or purchasing investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Julia Anne M. Slom, senior vice president, Commercial Real Estate Group, toll-free at 800-475-2265 or 401-348-1430.,/p>

The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., a $2.4 billion corporation headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is the largest independent bank and the oldest community bank in the nation, headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including business banking, personal banking, and wealth management and trust services, through its offices located in Rhode Island, southeastern Connecticut and Massachusetts. The Corporation’s common stock trades on The NASDAQ Stock Market under the symbol WASH. Web site address: www.washtrust.com.