Washington Trust Provides Financing for The Kingstown Plaza Limited Partnership

Washington Trust Commercial Real Estate Group recently provided $5.2 million in financing to The Kingstown Plaza Limited Partnership of North Kingstown, R.I., for the purpose of refinancing current debt on an 88,000 square foot retail plaza in North Kingstown, and to provide funds for future projects. Current tenants in the plaza include TJ Maxx and Home Goods.

The Kingstown Plaza Limited Partnership is managed by Louis J. Grossman, president and treasurer of The Grossman Companies, Inc. The Grossman Companies focus on real estate development, property management, and brokerage, with its primary focus on the New England area.

"It's a pleasure to work with Mr. Grossman again and to provide financing for his North Kingstown retail center." said John C. Warren, Washington Trust chairman and CEO.

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 $2.9 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 Global Select® Stock Market under the symbol WASH. Web site address: www.washtrust.com .