Bancorp Rhode Island, Inc. Announces Slate of Director Nominees for Annual Shareholder Meeting

Business Wire, Jan 24, 2008

PROVIDENCE, R.I. -- Bancorp Rhode Island, Inc. (NASDAQ: BARI) announced today that its Board of Directors intends to nominate for re-election current Class III Directors Anthony F. Andrade, Board Chairman Malcolm G. Chace, Ernest J. Chornyei, Jr., Edward J. Mack II, and President and CEO, Merrill W. Sherman at the upcoming annual meeting of shareholders to be held May 21, 2008.

"The Board Governance and Nominating Committee engaged in a deliberative process before recommending this slate to the Board of Directors, including evaluating our current directors and reviewing other candidates," stated John A. Yena, Vice Chairman of the Board and a member of the Board Governance and Nominating Committee of Bancorp Rhode Island.

"The Committee remains committed to recommending to the Board and our shareholders candidates that possess a variety of experience, skills and backgrounds and an open mind on how we can best create superior shareholder value over time. As a community bank, we also have a preference for nominees with significant involvement and reputations in the communities we serve. The Committee and the Board are confident that this slate meets these criteria," added Mr. Yena.

Bancorp Rhode Island, Inc. is the parent company of Bank Rhode Island, a full-service, FDIC-insured, state-chartered financial institution. The Bank, headquartered in Providence, has 16 branches located in Providence, Kent and Washington counties.

This release may contain "forward-looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent the company's present expectations or beliefs concerning future events. The company cautions that such statements are necessarily based on certain assumptions which are subject to risks and uncertainties, including, but not limited to, changes in general economic conditions and changing competition which could cause actual future results to differ materially from those indicated herein. Further information on these risk factors is included in the company's filings with the Securities and Exchange Commission.

IMPORTANT INFORMATION

BancorpRI will file a proxy statement in connection with its 2008 annual meeting of shareholders. BancorpRI shareholders are strongly advised to read the proxy statement and the accompanying proxy card when they become available, as they will contain important information. Shareholders will be able to obtain this proxy statement, any amendments or supplements to the proxy statement and other documents filed by BancorpRI with the Securities and Exchange Commission for free at the Internet website maintained by the Securities and Exchange Commission at www.sec.gov. Copies of the proxy statement and any amendments and supplements to the proxy statement will also be available for free at BancorpRI's Internet website at www.bankri.com or by writing to Bancorp Rhode Island, Inc., One Turks Head Place, Providence, Rhode Island 02903, Attention: Investor Relations.

INFORMATION REGARDING PARTICIPANTS

Detailed information regarding the names, affiliations and interests of individuals who are participants in the solicitation of proxies of BancorpRI's shareholders is available on Schedule 14A filed with the Securities and Exchange Commission on January 24, 2008.