Brookline Bancorp Announces Regulatory Non-Objection to Common Stock Repurchase Program.

Business Editors

BROOKLINE, Mass.--(BUSINESS WIRE)--March 7, 2003

Brookline Bancorp, Inc. (the "Company") (NASDAQ: BRKL) announced today that it has received regulatory non-objection to its request to repurchase up to 5% of its outstanding common stock. The regulatory non-objection was necessary because the repurchase program will commence less than one year from the date of the Company's reorganization and stock offering which closed on July 8, 2002.

Management of the Company will use its discretion in determining the timing of the repurchases and the prices at which repurchases will be made. The extent to which shares are repurchased will depend on a number of factors, including market trends and prices, economic conditions and the strength of the Company's capital in relation to its activities.

This press release contains statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Projections about future events are subject to risk and uncertainties that could cause actual results to differ materially. Factors that might cause such differences include, but are not limited to, general economic conditions, changes in interest rates, regulatory considerations and competition.