Cambridge Bancorp Announces Renewal of Stock Repurchase Program

Business Wire, Feb 28, 2007

CAMBRIDGE, Mass. -- Cambridge Bancorp (OTCBB: CATC) today announced that its Board of Directors has renewed its Stock Repurchase Program and authorized the Company to repurchase up to 100,000 shares of the Company's common stock under the 2007 Program.

Under this program, Cambridge Bancorp's shares may be repurchased through open market purchases or privately negotiated transactions depending on prevailing market conditions and other factors until the earlier of February 29, 2008, or a determination by the Board of Directors to discontinue such repurchases. Cambridge Bancorp currently has approximately 3.9 million shares of common stock outstanding.

"Based on the success of share repurchases in 2006, the Board of Directors views the Stock Repurchase Program as an important component in the continued creation of shareholder value," said Joseph V. Roller II, President and Chief Executive Officer.

Cambridge Bancorp and its subsidiary, Cambridge Trust Company, are based in Cambridge, Massachusetts, in the heart of Harvard Square. Cambridge Trust Company is a 116-year-old Massachusetts chartered commercial bank with nine Massachusetts locations in Cambridge, Concord, Lincoln, Weston, and Beacon Hill. Cambridge Trust Company is one of New England's leaders in wealth management with $1.3 billion in client assets under management. In addition, Cambridge Trust Company of New Hampshire offers wealth management services at two New Hampshire locations, Concord and Exeter.