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SHAWMUT TO OPEN FULL-SERVICE BRANCH AND MORTGAGE OFFICES IN ROXBURY

 BOSTON, June 28 /PRNewswire/ -- Shawmut (NYSE: SNC) today announced that it will open a branch and mortgage office at 300-350 Martin Luther King Blvd. in Roxbury by the end of the year.
 "We're pleased to expand our services to the Greater Roxbury community," said John Hall, senior vice president of the Metropolitan Boston branch network for Shawmut. "In January of this year, Shawmut announced a five-point plan to increase the number of home purchase loans to residents of low- and moderate-income neighborhoods in the communities we serve. As part of that plan, Shawmut committed to expanding its presence in Boston's neighborhood by opening a new branch and mortgage sales office in Greater Roxbury.
 Today, we are a step closer toward making good on that promise. With the addition of complete mortgage services and the resources of one of Shawmut's Urban Business Bankers, the new facility will offer old and new customers alike a full line of products and services in a single, convenient location."


To date Shawmut has implemented the following under the Five-Point Plan:
 -- Developed a new CRA mortgage product;
 -- Conducted 56 First-Time Homebuyer Seminars in Boston since Jan.
 1993 in conjunction with community based organizations;
 -- Shawmut Mortgage Company has completed diversity training for
 all supervisors/managers;
 -- Established Shawmut Mortgage Customer Assistance to provide
 ongoing assistance to those applicants with special needs;
 -- And, today introduced a revolutionary product in conjunction
 with Fannie Mae and PMI.
 The 2,704 square-foot facility will be available for construction on July 1. Kirk Sykes, a Boston-based architect, designed the facility. It is Shawmut's intent to maximize minority representation in the construction process.
 The new facility will be staffed by two customer service representatives, including the branch manager, and three tellers. The branch will also feature a bilingual (English and Spanish) ATM. A Shawmut Urban Business Banker will be available at the branch by appointment. The mortgage office will be staffed by a manager, three mortgage originators, and two mortgage specialists.
 Deidre Lockhart will serve as the branch manager. Lockhart joined Shawmut's Consumer Loan Department in 1986, joined the staff of the bank's Central Square branch in Cambridge in 1989, and was appointed manager of that branch in 1990. She was named manager of Shawmut's Uphams Corner branch in Dorchester in 1992. In addition to managing the Uphams Corner office, Lockhart also manages the Shawmut Information Center at Freedom House in the Grove Hall section of Dorchester. The Center provides information on bank products and services including checking and savings accounts, mortgages, and home equity products. The Center also provides individual counseling services to people with credit problems.
 Lockhart serves on the board of directors of Uphams Corner Neighborhood Housing Services and is a member of the Greater Roxbury Chamber of Commerce. In addition, she is a member of the Boston Urban Bankers Forum and serves on the board of directors of the Cambridge Kiwanis Club. A graduate of Boston University's School of Management with a Bachelor of Science degree in Finance, Lockhart is a resident of Malden.
 Judith Saunders-Marshall will serve as manager of Shawmut's Neighborhood Mortgage Office which also will be housed in the new facility. Saunders-Marshall joined Shawmut Mortgage Company in February, 1993. Prior to joining Shawmut, Saunders-Marshall managed a family-owned real estate concern, Century 21 Saunders Realtors. Saunders-Marshall is active in both the Boston and State Associations of Realtors, serving as a State Director since 1990. In 1992, the State President appointed her to serve as chairperson of the Equal Opportunity Committee. Presently, she serves on the Boston Affairs Committee.
 Saunders-Marshall is a charter member and treasurer of the Boston chapter of the Coalition of 100 Black Women as well as Delta Sigma Theta Sorority. She is a graduate of Northeastern University and earned an MBA from the Simmons Graduate School of Management. Saunders- Marshall is a lifelong Roxbury resident.
 Shawmut Bank and Shawmut Mortgage Company are units of Shawmut National Corporation, a $25 billion bank holding company with dual headquarters in Hartford, Connecticut, and Boston, Massachusetts. Shawmut National is a leading mortgage lender in southern New England as well as a leading lender to consumers and small- to medium-sized businesses in Connecticut, Massachusetts, Rhode Island and select national markets.
 -0- 6/28/93
 /CONTACT: Robert L. Guenther, 203-292-3239; Brent S. DiGiorgio, 203- 240-7632, both of Shawmut/
 (SNC)


CO: Shawmut National Corporation ST: Massachusetts IN: FIN SU: PDT

CM -- NE008 -- 6248 06/28/93 12:34 EDT
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Date:Jun 28, 1993
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