Banknorth Assumes Sponsorship of Maine's Largest Auto Racing Event; Banknorth Oxford 250 draws racers and fans from throughout New England.

Sports Editors/Business Editors

PORTLAND, Maine--(BUSINESS WIRE)--Dec. 30, 2003

Banknorth Group, Inc., today announced that it has signed a multi-year agreement with Oxford Plains Speedway of Oxford, Maine, to be the new title sponsor of the Banknorth Oxford 250. In its 30-year history the race, which is Maine's largest auto racing event, has seen future NASCAR legends such as Jeff Gordon, Dale Jarrett, Darrell Waltrip and Bobby Labonte compete.

On July 18, 2004, the Banknorth Oxford 250 race caps off an entire weekend of exciting racing. The weekend begins on Friday, July 16, with the International Supermodified Association Race, followed by the American Canadian Tour on July 17. Close to 20,000 spectators are expected to visit the 3/8-mile oval during the Banknorth Oxford 250 weekend of events.

"People travel from throughout New England and upstate New York to attend the Oxford 250 in Maine every summer," said Rick Dempsey, Executive Vice President of Marketing, Banknorth Group, Inc. "As New England's hometown bank, we saw this as a great opportunity to support a well-regarded sporting event that has strong local following in many Banknorth communities."

Banknorth Group, Inc., based in Portland, Maine, has $25.8 billion in assets and is the third-largest retail and commercial banking company headquartered in New England. Through its banking subsidiary, Banknorth, N.A., the company operates Banknorth Massachusetts, Banknorth Vermont, Banknorth Connecticut, Bank of New Hampshire, Peoples Heritage Bank in Maine and Evergreen Bank serving upstate New York. Combined, these Banknorth banking divisions represent over 350 branches and more than 500 Banknorth ATMs across New England and upstate New York. Banknorth also operates subsidiaries and divisions in insurance, investments, merchant services, mortgage banking, leasing and other financial services. More information on Banknorth is available at www.Banknorth.com.

Investment and insurance products: not a deposit; not FDIC insured; not insured by any federal government agency; not guaranteed by the bank or any affiliate; and may be subject to investment risk, including possible loss of value. Insurance products are offered through Banknorth, N.A., Banknorth Insurance Group or their state-licensed agency subsidiaries. Securities and insurance products available through Bancnorth Investment Planning Group are provided by PrimeVest Financial Services, Inc., an independent registered broker/dealer. Member SIPC.

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