Washington Trust Provides Financing To Marketplace on Morrissey, LLC

September 21, 2007 (Westerly, RI). . . The Washington Trust Company’s Commercial Real Estate Group is providing $4.6 million in financing to Marketplace on Morrissey, LLC, for the purpose of constructing a 15,530 square foot retail center at 960 Morrissey Boulevard, in Dorchester, Mass. The site, located just off the Southeast Expressway, is ideal for a wide range of retail and service-oriented tenants and can potentially accommodate two drive-through tenants.

Marketplace on Morrissey, LLC is owned, in part, by Louis Grossman of The Grossman Companies, Inc. of Quincy, Mass. The brokerage, management and development company was formed in 1979 by the same family that created Grossman’s, a pioneer in the building materials business. Since its inception, the company has developed and acquired a diverse portfolio of commercial and residential properties, primarily located in New England.

“Mr. Grossman’s commercial plaza will be ideally located to attract the numerous travelers that pass by the site daily during their commute to downtown Boston,” said John C. Warren, chairman and CEO of The Washington Trust Company. “The Washington Trust Company is pleased to be a part of its development.”

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.

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 oldest community bank in the nation and is the largest independent bank headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including personal banking, business 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.