Washington Trust Establishes Healthcare & Institutional Lending Group

August 15, 2007 (Westerly, RI). . . The Washington Trust Company recently announced the creation of the Healthcare & Institutional Lending Group designed to service not-for-profit organizations in Rhode Island and southern New England. The goal of the Healthcare & Institutional Lending Group is to provide a single platform of bank services specifically aimed at supporting the broad financial and investment needs of organizations engaged in healthcare, education and research, the arts, social services and other not-for-profit organizations.

The group is led by Washington Trust Vice President Tim Cadigan, who has extensive experience in meeting the financial service needs of not-for-profit organizations. He has more than 15 years of corporate banking and several years of experience in development and fundraising. Cadigan will work in conjunction with Harvey Perry, senior vice president, and director of the Bank’s Office for Non-Profit Resources. The Office for Non-Profit Resources assists organizations with additional resources needed to achieve their mission.

“Washington Trust’s reputation as a business leader brings the expertise needed to assist these organizations with their important philanthropic missions,” said John C. Warren, chairman and CEO of Washington Trust.

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.