Bank Rhode Island Expands Management Team; New Appointments and Promotions to Accommodate Bank Growth.

PROVIDENCE, R.I. -- Bank Rhode Island announced today several promotions and senior-level additions to the Bank's organizational structure. These changes will help facilitate and manage the Bank's future expansion plans for its core commercial business lines. In addition, plans are underway to open six new bank branches within the next several years.

"Our growth has necessitated the expansion of our executive management team," said Merrill W. Sherman, President and Chief Executive Officer of Bank Rhode Island. "These changes form the structural basis to support our continued growth and will put us in an even better position to capitalize on market opportunities and conditions." She added, "We are pleased that we were able to promote individuals within the Bank to fill more significant roles, as well as attract exceptional talent from other institutions."

The Bank's executive management team will now include Sherman; Donald C. McQueen, who has been promoted to the newly created position of Chief Operating Officer; Albert R. Rietheimer, Chief Financial Officer; James V. DeRentis, Executive Vice President, Retail Banking; and Linda H. Simmons, who joins the Bank in the newly created position of Executive Vice President for Finance and Treasurer.

McQueen has been with the Bank since inception and has been instrumental in the strong growth of the Bank's business lines over the last nine years. He most recently served as Executive Vice President and Chief Credit and Administrative Officer. "The newly created position of COO will allow the Bank's executive management team to fully utilize Don's skills. He provides heightened executive-level focus on customer advocacy and operational excellence," said Sherman.

McQueen holds a degree in economics from Dartmouth College and an MBA from Boston University. He is on the Boards of Directors of the Rhode Island Philharmonic and The Roger Williams Medical Center. He is a member and past Director of the Rhode Island Bankers Association, where he also served as chair of the Legislative Committee.

Simmons is a new addition to the Bank. She was most recently with Bank of America's Treasury Group in Boston. Prior to her employment at Bank of America, Simmons successfully served in a number of capacities at Fleet Financial Group, including as a Manager of Domestic Modeling and a Director of International ALM Modeling. Earlier in her career, she also served as a Vice President at both Boston Five Cents Savings Bank and Citizens Financial Group. "The addition of the position of Executive Vice President for Finance and Treasurer is an indication of the increasingly sophisticated level that Bank Rhode Island has reached in managing our balance sheet," said Sherman. Simmons holds a degree in accounting from Babson College and an MBA from Suffolk University.

Two further senior-level changes also were announced:

Stephen J. Gibbons has been promoted to the position of Chief Lending Officer, a role previously filled by Mr. McQueen. Gibbons will oversee all lending functions and cash management operations. He formerly headed the Bank's Real Estate Lending group. Gibbons holds a degree in marketing and economics from Bryant College. He is an active member of the Greater Cranston Chamber of Commerce, a member of the Rhode Island Builders Association, and serves on the Boards of Directors of Polaris Management and Cranston West Little League.

In July, Marianne F. Monte started working at the Bank in the new position of Senior Vice President for Human Resources. Monte directs and oversees all Human Resources functions for the Bank, which employs nearly 300 employees at the headquarters in downtown Providence, an Operations Center in Lincoln, RI and 14 branches across the state. Monte is a graduate of Providence College and holds a JD from Suffolk University. She serves on the Boards of Directors of the Genesis Center and GLAD.

"We are very pleased to welcome these outstanding individuals to their new roles within the Bank," said Sherman. "Their professional experience, combined with their strong community service records, makes them excellent leadership choices for Bank Rhode Island."

About Bank Rhode Island

Bank Rhode Island, a wholly-owned subsidiary of Bancorp Rhode Island, Inc. is a full-service, FDIC-insured financial institution headquartered in Providence. As of June 30, 2004, Bancorp Rhode Island's total assets stood at $1.2 billion and total deposits were $887.8 million. Bancorp Rhode Island's common stock is traded on the NASDAQ National Market under the symbol "BARI" and its corporate web site is located at www.bankri.com.