Michael R. Zucchini to Retire.

BOSTON--(BUSINESS WIRE)--April 30, 1999--

Michael R. Zucchini, vice chairman and chief technology officer of Fleet Financial Group, has announced his retirement, effective December 31, 1999.

"We are pleased that Mike Zucchini will be staying on through the end of the year to oversee the final stages of our integration plan for Fleet and BankBoston systems and back office operations. He will also continue to play an active role in Fleet's Y2K executive management steering committee," said Terry Murray, chairman and chief executive officer of Fleet Financial Group. "While we will miss Mike's guiding influence, he leaves us with teams that are superbly prepared to manage the technology and operations issues ahead," said Murray.

The integration of Fleet's and BankBoston's technology systems will take place after the first quarter of the year 2000. Both teams have excellent track records for completing successful systems and operations integrations.

Mr. Zucchini joined Fleet as an executive vice president in 1987 from General Re Corp. in Stamford, Connecticut. He was elected a vice chairman of Fleet in 1993 and was named Chief Technology Officer in 1996. During his tenure with Fleet, Mr. Zucchini has overseen a number of highly successful systems and operations integrations, including those that followed Fleet's acquisitions of Bank of New England, Shawmut National Corp. and NatWest Bancorp.

Fleet Financial Group, headquartered in Boston and listed on the New York Stock Exchange (NYSE:FLT), is a diversified financial services company with $106.2 billion in assets and more than $86 billion in assets under management. Fleet is the nation's sixth largest commercial lender and New England's leading small business lender. Fleet's products and services include consumer banking, government banking, mortgage banking, private banking, corporate finance, commercial real estate lending, credit cards, insurance services, cash management, trade services, export finance, capital markets, equipment leasing and asset-based lending. Fleet also provides a wide array of investment management services for both individuals and institutional clients and operates the nation's third largest discount brokerage firm through its Quick & Reilly, Inc. subsidiary. With 1,150 branches and 2,500 ATMs, Fleet also provides 24-hour telephone banking as well as on-line banking services through the internet and through its PC Banking software for individuals and businesses.