FleetBoston Financial Releases Sustainability Report.

Business Editors

BOSTON--(BUSINESS WIRE)--April 11, 2003

FleetBoston Financial today released its first annual sustainability report. By citing key metrics and initiatives, the report codifies the beneficial economic aspects of Fleet's commitment to the community through its

environmental and social initiatives. The report further emphasizes Fleet's leadership role in promoting sustainability in the finance industry in partnership with the Coalition for Environmentally Responsible Economies (CERES), and the United Nations Environment Programme Financial Institutions Initiative (UNEP FI). Fleet further built upon its longstanding commitment to the community when it became the first financial institution to endorse both of the voluntary codes of conduct associated with CERES and UNEP FI.

Fleet has implemented environmental policies to ensure compliance with government regulations, good business practices and its own environmental commitments. Fleet's policies pertain to both its own operations and environmental impacts, and to its credit process for evaluating customers, including evaluation of their influence on the environment. As detailed in the report, Fleet has the internal expertise to advise companies on complicated brownfield redevelopment projects and Fleet's internal policies have resulted in the cleanup of contaminated real estate around the United States.

"As this report reveals, Fleet has accomplished much in fulfilling our commitment," said Chad Gifford, Chairman and Chief Executive Officer of FleetBoston Financial. "We recognize, however, that this is a process of continuous improvement. We look forward to further integrating our environmental initiatives in the year ahead," he added.

Fleet's sustainability report can be found at www.fleet.com/environment.

"We are pleased to see Chad Gifford take a leadership role in the area of sustainability and establish clear goals to continue to move Fleet in a forward direction," said Mindy Lubber, Executive Director, CERES.

FleetBoston Financial is the seventh-largest financial holding company in the United States, with assets of $190 billion. The company's principal businesses, Personal Financial Services and Commercial Financial Services, offer a comprehensive array of innovative financial solutions to 20 million customers. Through its Personal Financial Services franchise, Fleet offers retail banking, wealth management and investment services, nationwide brokerage, credit card and consumer lending services. These services are available through approximately 1,500 branches and more than 3,500 ATMs in the Northeast; through Fleet HomeLink(SM) online banking, one of the nation's leading online banking platforms; and through telephone banking. Fleet is the leading small business services and commercial banking provider in the Northeast. Fleet's Commercial Financial Services division provides commercial lending, syndications, capital raising and advisory, leasing, cash management, asset-based finance, foreign exchange and interest rate derivatives to clients. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF).