(EMAILWIRE.COM, November 29, 2002 ) FleetBoston Financial Corporation today announced the appointment of Kenneth B. Colloton as Director of Government Banking. Fleet Government Banking is the second largest depository of government funds in the country, with more than 3,500 municipal and large government clients.

"We are excited about Ken's assumption of this leadership position not just because of his wealth of Government Banking experience, but also because through his work with the E-Catalyst Group, Fleet Libris strategic planning, and his spearheading of Government Banking's move to a national business, Ken embodies our vision of the future," said Michael J. Curran, Managing Director of Global Services.

Mr. Colloton, 48, has 27 years of banking experience, most recently as Fleet's Manager of Government Advisory Services. After twelve years with Bankers Trust, including stints in Brazil and Hong Kong, Colloton joined Norstar Bank in 1987. When Fleet merged with Norstar in 1988, Colloton rose to be Manager of Municipal Banking and Advisory Services. He served on the Merger Integration Teams with Shawmut and Bank Boston, and was instrumental in Fleet Government Banking's successful adoption of the Internet as a sales and customer service tool.

Colloton is a national board member of the YMCA-USA and is chairman of their Strategic Planning Committee. He has been very active in the Capital District YMCA, Albany-Colonie Chamber of Commerce, and the Albany School of Pharmacy and has held senior leadership positions in each organization.

Colloton succeeds John B. Robinson, Jr. who is retiring after 33 years with Fleet and its predecessors. Fleet Government Banking provides banking, credit and investment services to states, cities, counties, school districts and other public authorities and jurisdictions. In addition, through its Fleet Libris Information Solutions division, Fleet Government Banking has major tax processing contracts with the IRS, the State of New York, and New York City.

"Both inside and outside the bank, Ken is a leader, and under his leadership we expect continued growth and innovation from Government Banking," said Mr. Curran.

FleetBoston Financial is the seventh-largest financial holding company in the United States, with assets of $187 billion. The company's principal businesses, Personal Financial Services and Wholesale Banking, offer a comprehensive array of innovative financial solutions to 20 million customers. Through its Personal Financial Services franchise, Fleet offers retail banking, wealth management and investment services, nationwide brokerage, credit card and consumer lending services. These services are available through approximately 1,500 branches and more than 3,500 ATMs in the Northeast; through Fleet HomeLinkSM online banking, one of the nation's leading online banking platforms; and through telephone banking. Fleet is the leading small business services and commercial banking provider in the Northeast. Fleet's Wholesale Banking division provides commercial lending, syndications, leasing, cash management, asset-based finance, foreign exchange and interest rate derivatives to corporate clients. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF).

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Produced for FleetBoston Financial

Contact:
Karl Felsen
518- 447-2184
karl_e_felsen@fleet.com

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Contact Information:
FleetBoston Financial
Joseph Nchor
Tel:
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