ADVISORY/ Citizens Financial Group to Announce Acquisition of Medford Bancorp.

Business Editors

ADVISORY...for Thursday (June 13)

--(BUSINESS WIRE)

Citizens Financial Group, Inc.:

WHAT:  Citizens Financial Group, Inc. and Medford Bancorp, Inc. will
       announce a definitive agreement under which Citizens will
       acquire Medford Bank for $273 million.


WHO:   Arthur H. Meehan, Chairman, President & CEO, Medford Bancorp
       Lawrence K. Fish, Chairman, President and CEO, Citizens
         Financial Group
       Thomas J. Hollister, President & CEO, Citizens Bank of
         Massachusetts


       Medford Press Conference           Boston Press Conference
WHEN:  Thursday, June 13, 2002            Thursday, June 13, 2002
       11:00 a.m.                         1:30 p.m.

WHERE: Medford Bank                       Citizens Bank
       5 High Street, 2nd Floor           28 State Street, 14th Floor
       Medford, MA                        Boston, Massachusetts