Boston Private Bank & Trust Company Promotes Key Executives.

Business Editors

BOSTON--(BUSINESS WIRE)--April 30, 2003

Mark D. Thompson Elected CEO 

and James D. Dawson Elected President and COO

at New England's Leading Private Bank

The Board of Directors of Boston Private Bank & Trust Company, a wholly-owned subsidiary of Boston Private Financial Holdings, Inc. (Nasdaq:BPFH), today announced the official appointment of Mark D. Thompson as Chief Executive Officer and James D. Dawson as President and Chief Operating Officer of the Bank.

Mr. Thompson will succeed Timothy L. Vaill who has been the Chief Executive Officer of Boston Private Bank since January 1, 1993. Mr. Vaill will continue as Chairman and Chief Executive Officer of the Bank's parent company, Boston Private Financial Holdings, as well as remain a director of the Bank.

"Mark Thompson is an extremely accomplished banking executive who has established a broad reputation in the community. His vision for extending our private banking services throughout the region and his commitment to exceptional client service have attracted a significant number of valuable clients to the firm," said Boston Private Bank's Chairman, Eugene S. Colangelo. "He will be a most effective leader for the Bank as we enter the next time period, and speaking for the entire board, we are very proud to have him lead our team."

Mr. Thompson started his banking career at Boston Safe Deposit & Trust Company in 1980 and was one of the founding officers of Wainwright Bank & Trust Company in 1987. He joined Boston Private Bank in 1994 where he has held a series of executive positions and was named President and joined the Board of the Bank in 2000.

"I believe that Boston Private Bank has the best possible combination of philosophy, products and top-notch personnel to serve the wealth management market in New England," said Thompson. "I am honored to be chosen to lead Boston Private towards success in the years ahead."

Mr. Thompson also serves as Chairman of the Board of the North Shore ARC, an agency for individuals with developmental disabilities, based in Danvers. He is a past director of the World Affairs Council of Boston and served on the Massachusetts Government Landbank investment committee. Thompson is a graduate of Norwich University and received his MBA from Clarkson College.

Mr. Dawson joined Boston Private Bank as Chief Lending Officer in 1996 after 18 years at Shawmut Bank in Boston. He has been responsible for the strong credit culture of the Commercial Banking business and the successful growth of the commercial loan portfolio since that time. He was named as Chief Operating Officer and a member of the Bank's Board in 2000.

"We have a wonderful team at Boston Private Bank. It is a privilege to work with Mark and the entire team here as we continue Boston Private's momentum," said Dawson. "I am honored with this appointment and am confident that I can utilize my experiences and expertise to help Boston Private reach and surpass its business goals."

Dawson is a graduate of Brown University and he received his MBA from Boston University. He is past President of the New England Chapter of the Risk Management Association and was recently elected to the Board of Overseers at Children's Hospital in Boston.

"Boston Private Bank has had the privilege of growing and prospering in the Greater Boston area since it was first established in 1987. There is no finer region in which to develop a wealth management business as well as to establish broad-based relationships with all elements of the community," said Mr. Vaill. "We are extremely fortunate to have such able leaders as Mark Thompson and Jim Dawson to continue this effort in this new millennium. I have enjoyed immensely my ten years as CEO of the Bank. I look forward to my continuing work as a Bank Director and as a business colleague with this new team for many years to come."

About Boston Private Financial Holdings, Inc.

Established in 1987, Boston Private Financial Holdings offers a full range of high-touch wealth management services. Boston Private's assets include six operating companies located in New England and California, offering financial planning, investment management and private banking services to its domestic and international clientele. The subsidiaries include: in New England, Boston Private Bank & Trust Company, Westfield Capital Management Company, RINET Company, and Boston Private Value Investors; and in Northern California, Sand Hill Advisors and Borel Private Bank & Trust Company. Boston Private also has a minority holding in Coldstream Capital Management, a financial planning and investment management firm based in Bellevue, Washington. Boston Private Financial Holdings manages approximately $6.4 billion in client assets, and has balance sheet assets of approximately $1.8 billion. It is a member of the Standard & Poor's 600 Index and is included on the Nasdaq Financial-100 Index(R).

Boston Private Bank & Trust Company provides private banking and investment services to high net worth individuals, their families and businesses. The Bank is a leader in residential lending and provides commercial banking services to many of New England's leading small and mid-size corporations. Under its Accessible Banking Program, the Bank is an active provider of real estate financing for affordable housing, economic development and small businesses. Boston Private Bank's investment management emphasis on mid to large cap equity and actively managed fixed income portfolios.

Statements in this press release that are not historical facts are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. You should not place undue reliance on our forward looking statements. You should exercise caution in interpreting and relying on forward looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond Boston Private's control and could cause actual results to differ materially from those set forth in the forward- looking statements.