Senior Government Official Joins Fleet to Head Corporate Administrative Services.

Business Editors

BOSTON--(BUSINESS WIRE)--Feb. 21, 2001

FleetBoston Financial today announced that Alphonso Maldon, Jr., until recently United States Assistant Secretary of Defense for Force Management Policy, is joining the company as Executive Vice President and Executive Director, Corporate Administrative Services, responsible for worldwide facilities, procurement, security and logistical services.

Mr. Maldon comes to the private sector with nearly 30 years of service in the Army and government, including his most recent role at the United States Department of Defense. Previous assignments include serving as Deputy Assistant to the President for Legislative Affairs and White House Congressional Liaison. He was the first African-American to be appointed as Deputy Assistant to the President and Director of the White House Military Office.

"We are delighted that an executive of Al's breadth and depth of experience is joining our senior management team," said Eugene M. McQuade, Vice Chairman and Chief Financial Officer. "We are confident that he will bring fresh perspectives and solid executive skills to the management of a complex global division."

Mr. Maldon is a graduate of Florida A&M University and holds a Master of Arts degree from the University of Oklahoma. He also graduated from several military schools and colleges and is the recipient of numerous military decorations, as well as the Civilian Distinguished Public Service Award and the Congressional Award for Leadership and Patriotism.

FleetBoston Financial is the seventh-largest financial holding company in the United States. A $179 billion diversified financial services company, it offers a comprehensive array of innovative financial solutions to 20 million customers in more than 20 countries and territories. Among the company's key lines of business are: retail banking, with over 1,200 branches and and nearly 3,400 ATMs in the Northeast; commercial banking, including capital markets/investment banking and commercial finance; investment services, including discount brokerage; and full-service banking through more than 250 offices in Latin America. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF).