BankRI Announces Security Measures in Response to Stolen Laptop; Potential Release of Data Poses No Risk to BankRI Accounts.

Business Editors

PROVIDENCE, R.I.--(BUSINESS WIRE)--Dec. 18, 2003

Bank Rhode Island said today that its principal data service provider, Fiserv, Inc., reported the theft of a laptop computer that contained some BankRI customer information.

The Bank emphasized that it had no indication that this information has been misused or been improperly accessed. As a precaution, BankRI has notified all customers whose information was potentially included on the stolen laptop, is monitoring accounts for unusual activity, and has augmented its internal security procedures.

"There is no risk to any BankRI accounts as a result of this incident," said Merrill Sherman, President & CEO. "We deeply regret this incident and sincerely apologize for any anxiety or inconvenience this may cause."

An investigation into the theft is ongoing as are efforts to recover the stolen laptop. "Fiserv has been proactive in addressing this incident," said Sherman, "and we are assisting them, the FBI and law enforcement agencies in their investigation."

The information on the laptop potentially included 43,000 customers' names, addresses, and social security numbers, but did not include key account access data such as personal identification numbers (PIN), account passwords, debit or ATM card information, or other financial data. Fewer than 100 BankRI account numbers were included. These, however, were not identified by customer name.

"Given the privacy and security concerns prevalent in today's environment, we have written to all customers potentially affected and have offered additional resources to allay any concerns they may have," said Sherman. "We also wanted to reassure them there is no risk to any of their accounts at BankRI and none of those accounts will be impacted by this unfortunate incident."

To assist its customers, BankRI is:

-- Establishing a specially dedicated hot line (877-540-5541) for

BankRI customers to speak with bank representatives.

-- Providing access to TransUnion, a recognized industry expert

in consumer fraud, via a dedicated toll-free hotline. Affected

customers can speak with a specialist to confidentially review

their personal credit history and discuss specific steps to

prevent fraud. Should they elect to, they will have access to

TransUnion fraud protection measures.

-- Including Frequently Asked Questions concerning the incident

on its website at www.bankri.com.

In addition, BankRI is reminding customers to use basic safeguards with respect to all their financial matters. They should:

-- Review all account statements regularly and report any

suspicious activity immediately. Customers can access their

BankRI account information by calling BankRI at 401-477-1100

or, for online banking customers, by visiting www.bankri.com.

-- Protect all their accounts with a PIN or password that does

not include any part of their Social Security number.

"We believe disclosure is the right thing to do," said Sherman. "We have a relationship with our customers based on trust. Part of that trust comes from an expectation of honesty and transparency. Disclosure to our customers also will further lessen any risk, however small, for potential misuse of this information."

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 September 30, 2003, Bancorp Rhode Island's total assets stood at $1.1 billion and total deposits were $800.4 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.