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EILEEN S. KRAUS NAMED PRESIDENT OF CONNECTICUT NATIONAL BANK

 EILEEN S. KRAUS NAMED PRESIDENT OF CONNECTICUT NATIONAL BANK
 HARTFORD, Conn., Sept. 9 /PRNewswire/ -- Shawmut National Corporation (NYSE: SNC) today named Eileen S. Kraus president of Connecticut National Bank, the state's largest bank and one of Shawmut National's two flagship banks. Kraus, 54, had been vice chairman of Connecticut National Bank and Shawmut Bank. She continues to direct Shawmut National's consumer banking and marketing activities in Connecticut, Massachusetts, and Rhode Island. In addition, the corporation named Allen W. Sanborn president of Boston-based Shawmut Bank, the second largest bank in Massachusetts and the corporation's other flagship institution. Both appointments are effective immediately. Sanborn, 50, remains vice chairman of Shawmut National and head of the corporation's commercial and large corporate banking activities in the tri-state area.
 Joel B. Alvord, chairman and chief executive officer of Shawmut National, said, "A bank president plays an important role in a community. The president personifies an institution to the community and traditionally has been a civic leader. "By naming Eileen Kraus and Al Sanborn as presidents of our respective banks, we are underscoring our deep commitment to and involvement in the communities we serve. We are putting two very dynamic individuals into highly visible leadership roles." Gunnar S. Overstrom, president and chief operating officer of Shawmut National, said, "Al and Eileen are not only outstanding community leaders but are the people with direct responsibility for running our two most important business lines -- commercial banking and consumer banking. The fact that we are putting two such key people into these roles says a great deal about the importance we attach to our presence in our communities." Both Kraus and Sanborn will continue to report to Overstrom, who is also chairman and chief executive officer of Connecticut National Bank and Shawmut Bank. Kraus said, "I'm excited about my new role. I'm looking forward to getting closer to our communities and to our customers throughout Connecticut and Rhode Island."
 Sanborn said, "It was only a few months ago that my family and I moved to Boston. In that short time, I've been impressed by the depth of commitment among area residents to their communities and their passion for tackling local issues. I'm rolling up my sleeves to make certain that Shawmut continues to play an important role in those efforts." Alvord noted that Kraus already is well known in Connecticut, where she has been involved in numerous civic activities and community organizations. She serves on the boards and executive committees of Trinity College, Kingswood-Oxford School and the Horace Bushnell
Memorial Hall Corporation. As head of the Consumer Banking and


Marketing Group, Kraus is responsible for an area that employs more than 5,000 people in 341 branches in three states and earns in excess of $100 million annually on a pre-tax basis. In southern New England, Shawmut National ranks number one in deposit share, household penetration and home equity lending. Shawmut Bank is Massachusetts' second largest bank, and Connecticut National Bank is that state's largest. (On Jan. 11, 1993, Connecticut National Bank will change its name to Shawmut but will continue to exist as a separate entity from the Massachusetts affiliate.)
 Kraus joined Connecticut National in 1979 as a vice president in human resources, rising a year later to senior vice president and manager of human resources. In 1983, she was named manager for the marketing and communications division. Two and a half years later, she was promoted to executive vice president with responsibility for the community banking and private banking divisions. In 1990, Kraus became a vice chairman of Connecticut National Bank and Shawmut Bank, managing community banking, private banking, personal trust, and marketing for the tri-state area. She also serves as a member of Shawmut National's six-person Senior Policy Committee as well as on the boards of Connecticut National Bank and Shawmut Bank. Kraus holds a Master of Arts degree from Trinity College and graduated magna cum laude from Mount Holyoke College. She and her husband, Hal, live in West Hartford,
Conn. They have a daughter who is pursuing an MBA at Stanford


University and a son who is a sophomore at Kingswood-Oxford. Sanborn had been vice chairman for commercial markets at Bank of America in San Francisco before joining Shawmut in May. He began his career at Bank of America in 1971 as an account officer and served in a variety of positions in California, Chicago and London before being named head of California Corporate Banking in 1982. He was named vice chairman of commercial markets in 1990 after holding a variety of middle-market lending positions. At Shawmut National, Sanborn runs the largest commercial banking operation in southern New England and the market leader in lending to small-and medium-sized businesses. In addition to commercial and large corporate lending, Sanborn is responsible for asset-based lending, specialized lending and commercial real estate lending. His group employs about 800 people. He serves on Shawmut National's Senior Policy Committee as well as the boards of Shawmut Bank and Connecticut National Bank. He is chairman of the corporation's Community Reinvestment Act Policy Committee. He is also vice chairman of the Massachusetts Minority Enterprise Investment Corporation and serves on the advisory council for Junior Achievement of Eastern Massachusetts. Sanborn earned an MBA in finance from the University of Pittsburgh in 1968 and graduated from Gettysburg College in 1964. He and his wife, Mary Anne, live with their two daughters in Wellesley, Mass.
 -0- 9/9/92
 /CONTACT: Robert L. Guenther, 617-292-3239 or Brent S. DiGiorgio (203) 240-7632, both of Shawmut National Corporation/
 (SNC) CO: Shawmut National Corporation; Connecticut National Bank ST: Connecticut, Massachusetts IN: FIN SU: PER


CH -- NE009 -- 7495 09/09/92 12:19 EDT
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Date:Sep 9, 1992
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