Bank Rhode Island To Offer Internet Banking To Business Customers; Personal Internet Product Slated for 2000.

EAST PROVIDENCE, R.I.--(BUSINESS WIRE)--May 20, 1999--

Bank Rhode Island (NASDAQ:BARI) announced today that it has signed an Internet banking agreement with nFront(TM), a leading provider of Internet technology to community banks.

Bank Rhode Island will become the fourth bank in the state to offer Internet banking. The bank will roll out a business application in the fourth quarter of this year and plans to unveil a personal consumer product in the year 2000.

"Bank Rhode Island realizes that there are a growing number of people who rely on the Internet to do just about everything," said Merrill W. Sherman, President and CEO of Bank Rhode Island. "This gives our customers one more way to access their accounts. We're starting with a business product because we feel that application has the most value-added for our customers."

The business application, called nBusiness(sm), is a Microsoft NT-based Internet cash management application. It will allow business customers to access all business account information, pay vendors electronically, transfer funds between internal accounts, initiate wire transfers, stop payments, pay employees and view graphic presentations of a company's cash position.

nFront products are used by 141 community banks in 31 states across the country. The Atlanta-based company, founded in 1996, was the recipient of Microsoft's Retail Banking Industry Solution Award for the best Internet banking product. Bank Rhode Island will be nFront's 11th customer in New England.

"The national vendor we use for our core data processing has partnered with nFront, which gives us access to one of the best Internet banking products available," Ms. Sherman added. "I think our customers will be very pleased when they see the features available, the ease of use and the high level of security offered."

nFront's personal consumer product, called nHomesm, will allow Bank Rhode Island customers to view account balances and histories, pay bills, and transfer funds. nHome will be available in 2000 for all Bank Rhode Island customers.

"We are excited to be partnering with Bank Rhode Island," said Tripp Rackley, Chairman and CEO of nFront. "This will allow us to showcase our product to the residents of Rhode Island and will move Bank Rhode Island to the forefront of Internet banking."

Founded in 1996, nFront, Inc., www.nfront.com, is a leading provider of full-service Internet banking solutions for community banks. Based in Atlanta, GA, nFront provides a turnkey solution offering development and implementation services, web site design, maintenance and hosting, customer service training and support as well as marketing consulting.

Bank Rhode Island is a full service, FDIC insured, state chartered financial institution headquartered in East Providence. Founded in March 1996 with the goal of being Rhode Island's community bank of choice, Bank Rhode Island was the nation's second largest de novo bank -- a positive byproduct of the region's many banking mergers and consolidations. A clear alternative to regionally and nationally focused financial institutions, this leading mid-sized community bank has 13 branches in Providence and Kent counties. Bank Rhode Island's total assets stood at $603.7 million as of March 31, 1999 and total deposits were $507.6 million. The bank's common stock is traded on the NASDAQ National Market under the symbol "BARI".