Peoples Heritage Bank Summer Promotion Features Free L.L.Bean Boat and Tote Bag and Chance to Win a $5,000 L.L.Bean Shopping Spree

Business Wire, June 1, 2004

Business Editors

PORTLAND, Maine--(BUSINESS WIRE)--June 1, 2004

Peoples Heritage Bank, a division of Banknorth, N.A., today launched a summer promotion that offers customers a free L.L.Bean(R) Boat and Tote(R) bag and a chance to win a $5,000 L.L.Bean shopping spree when they open a SimplyMore Checking account with direct deposit. SimplyMore Checking is free checking made better with free eBillPay, free online banking, four free non-Banknorth ATM transactions per statement cycle, a free VISA(R) Debit Card and unlimited teller transactions--all with no minimum balance requirement.

"SimplyMore is a great checking account for any customer who likes the advantages of direct deposit--and this promotion makes switching to SimplyMore easy and rewarding," said Michael W. McNamara, president and CEO of Peoples Heritage Bank. "In addition, customers will have the confidence of knowing that they are banking with the company that was named Best Managed Bank in America this year by Forbes Magazine."

Customers can go to any of Peoples Heritage Bank's 60 branches and switch to SimplyMore Checking, receive their Boat and Tote bag and be entered to win a $5,000 L.L.Bean shopping spree. You can also open an account online at PeoplesHeritage.com or by calling 800 211-1979 x 901. The SimplyMore Checking promotion ends August 31, 2004, and is offered through Banknorth, N.A., subsidiaries Banknorth Massachusetts, Banknorth Connecticut, Banknorth Vermont, Bank of New Hampshire, Peoples Heritage Bank in Maine and Evergreen Bank in upstate New York.

Banknorth Group, Inc. (NYSE: BNK), based in Portland, Maine, has $29 billion in assets and is the largest retail and commercial banking company headquartered in New England. The company was named the Best Managed Bank in America by Forbes Magazine in 2004. Through its banking subsidiary, Banknorth, N.A., the company operates Banknorth Massachusetts, Banknorth Vermont, Banknorth Connecticut, Bank of New Hampshire, Peoples Heritage Bank in Maine and Evergreen Bank serving upstate New York. Combined, these Banknorth banking divisions represent over 350 branches and more than 500 Banknorth ATMs across New England and upstate New York. Banknorth also operates subsidiaries and divisions in insurance, investments, merchant services, mortgage banking, leasing and other financial services. More information on Banknorth is available at Banknorth.com.

Investment and insurance products: not a deposit; not FDIC insured; not insured by any federal government agency; not guaranteed by the bank or any affiliate; and may be subject to investment risk, including possible loss of value. Insurance products are offered through Banknorth, N.A., Banknorth Insurance Group or their state-licensed agency subsidiaries. Securities and insurance products available through Bancnorth Investment Planning Group are provided by PrimeVest Financial Services, Inc., an independent registered broker/dealer. Member SIPC. Bank deposits FDIC insured. Equal Housing Lender.