Courton Brown Named President of FleetBostonFoundation.

BOSTON--(BUSINESS WIRE)--Nov. 1, 1999--

Susannah Swihart, chair of the FleetBoston Foundation, has announced the appointment of Michele Courton Brown as president of the foundation. As announced last march, FleetBoston will endow the foundation with a $100 million charitable trust. Fleet

Courton Brown most recently served as the director of Corporate Contributions at BankBoston, where she headed the $12 million BankBoston Charitable Foundation. In her new position she will oversee all of FleetBoston's charitable giving, ensuring that the community leadership roles that both Fleet and BankBoston have achieved separately continues in the combined institution. "Michele did an outstanding job directing the BankBoston Charitable Foundation," said Swihart. "Her strategic approach to philanthropy and excellent reputation in the regional, national and international communities where we do business will enable the new institution to build its reputation as a committed partner among non-profit and philanthropic constituencies."

Next year, the foundation will make $25 million in grants domestically, with the key priorities being economic opportunity, youth development, public education, and arts and culture. Employee-driven philanthropy will continue to be a focus, and Community Reinvestment Act excellence will remain a clear goal.

"Both Fleet and BankBoston have strong records of funding very effective, high impact non-profits in their respective market areas," said Courton Brown. "My job as president will be to leverage the reputations both institutions have built over time and establish a powerful, strategic, results-driven charitable foundation for the eighth largest financial institution in the United States."

At BankBoston, Courton Brown achieved national recognition for her philanthropic leadership. In 1999, the bank received the Ron Brown Award for Corporate Leadership and the National Society of Fundraising Executives Outstanding Corporate Philanthropist award. She managed BankBoston's involvement in many community initiatives such as the United Way's Success by Six, the Boston Plan for Excellence in the Public Schools, and City Year.

Courton Brown earned a bachelor's degree from Boston University.

She serves on a number of non-profit boards including the Museum of Afro American History, City Year Boston, Dimock Community Health Center, Boston Arts Academy, The United Way of New England, and the Wang Center for the Performing Arts.

FleetBoston Financial is a $185 billion diversified financial services company and the eighth largest bank holding company in the U.S. The company's lines of business include commercial and consumer banking, institutional and investment banking, cash management, trade services, export finance, mortgage banking, commercial finance, asset-based lending, commercial real estate lending, equipment leasing, government banking, investment management services, private equity investments, credit cards, discount brokerage services, student loan processing, and full-service banking in Latin America. Through 5,750 outlets, Fleet Boston serves approximately 20 million customers. Fleet Boston Corporation is headquartered in Boston and listed on the New York Stock Exchange (NYSE:FLT).