Washington Trust Offers Homebuyer Assistance

June 3, 2008 (Westerly, Rhode Island). . .The Washington Trust Company has announced that the Bank will provide funds to create housing opportunities for income-eligible households through the Federal Home Loan Bank of Boston Equity Builder Program.

Washington Trust recently received approval for enrollment authority of up to $200,000 from the Federal Home Loan Bank, to assist borrowers with down payment and closing costs on a first-come first-served basis, until the pool of funds is exhausted. Eligible borrowers may request up to $10,000 per household, and have household income no greater than 80% of the area median income. Eligible properties would include single family, owner-occupied, 1-4 family, town homes, duplexes, and condominiums. Borrowers also must attend a homeownership counseling program.

In 2007, Washington Trust requested and provided funds for seven homebuyers, totaling $100,000. For more information, contact Linda S. Smith, Vice President of Retail Lending at 401-348-1229.

The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., a $2.5 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 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.