Washington Trust Bancorp

31 Broad Street
Westerly, R.I. 02891
(860) 774-9605
Web site: www.washtrust.com
e-mail: info@washtrust.com
Employees: 332

Washington Trust, a community bank with roots in South County, last year celebrated
its 200th anniversary with a number of events, as the bank continued to expand
into other markets. At the beginning of the year, Washington Trust opened a Trust
and Investment Services office in Providence, and in June acquired Phoenix Investment
Management, Inc. Overall the bank operates 13 offices, mainly in South County,
with an office in North Kingstown, and offices in Southeastern Conn.

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Stock Information
Exchange: Nasdaq
Symbol: WASH
Annual meeting: April 24, 2001
Shares of common stock outstanding as of Tuesday, February 27, 2001: 12,019,617
Stock price as of Tuesday, April 17, 2001: $18.05
Market value as of Tuesday, April 17, 2001:: $216,954,097
12-month high stock price: $18.05
12-month low stock price: $13.38

Operating Results

Directors
Alcino G. Almeida, 68, director since 1998, retired as general manager,
The Day Publishing Company. Shares: 1,664

Katherine W. Hoxsie, CPA, 52, director since 1991, vice president, Hoxsie Buick-Pontiac
GM Truck, Inc. Shares: 50,652

Edward M. Mazze, Ph.D., 60, director since 2000, Dean, college of business
administration, University of Rhode Island. Shares: 200

Joyce O. Resnikoff, 64, director since 2000, chief executive officer, Olde
Mistick Village. Shares: 2,518

John C. Warren, 55, director since 1996, chairman and chief executive officer
of the corporation and bank. Shares: 12,357

Gary P. Bennett, 59, director since 1994, consultant and former chairman
and CEO, Analysis & Technology. Shares: 6,082

Larry J. Hirsch, 62, director since 1994, former pres., Westerly Jewelry
Co. Shares: 9,667

Mary E. Kennard, 46, director since 1994, vice president and university
counsel, The American University. Shares: 3,332

Joseph J. Kirby, 69, director since 1972, retired chairman and chief executive
officer of the corporation and bank. Shares: 122,306

H. Douglas Randall, III, 53, director since 2000, pres.,HD Randall, realtors.
Shares; 9,639

Steven J. Crandall, 48, director since 1983, vice president, Ashaway Line
& Twine Manufacturing Co. Shares: 2,741

Richard A. Grills, 68, director since 1983, chairman and chief executive
officer Bradford Dyeing Association, Inc. Shares: 130,344

Victor J. Orsinger II, 53, director since 1983, partner in the law office
of Orsinger & Nardone. Shares: 27,051

James P. Sullivan, CPA, 62, director since 1983, former finance officer,
Roman Catholic Diocese of Providence, currently retired. Shares: 6,298

Neil H. Thorp, 61, director since 1983, president of Thorp & Trainer,
Inc. Shares: 30,438

John F. Treanor, 53, nominee for 2001, president and chief operating officer
of the corporation and bank. Shares: 1,000

Directors’ fees
Non-employee directors received a $9,000 annual retainer. Also, for each meeting
of the Board of Directors of the Corporation and of the Bank attended, non-employee
directors receive $300 and $600 respectively. Non-employee directors receive $400
for each Corporation and Bank committee meeting attended.

Institutional ownership
Washington Trust Company, 871,744 shares;
TCW Group, Inc., 255,400 shares;
Barclays Bank Plc, 137,621 shares;
FleetBoston Financial Corp., 78,559 shares;
Royal Bank of Scotland Group, Plc, 70,162 shares.

Executive compensation

*Executive compensation includes salary, bonuses and other compensation, including
life insurance, cash profit sharing and other payments.

Exercised Stock Options

Source: Proxy statement, annual report, quarterly reports, and other PBN research