Webster Increases Prime Lending Rate

WATERBURY, Conn., March 22 /PRNewswire/ -- Webster Bank, N.A., a subsidiary of Webster Financial Corporation , announced today that it will raise its prime lending rate from 5.50% to 5.75%, effective today, February 2, 2004.

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Webster Financial Corporation is the holding company for Webster Bank, National Association and Webster Insurance. With $17.0 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 152 banking offices, 290 ATMs, telephone banking and the Internet. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation, the insurance premium finance company Budget Installment Corp., Center Capital Corporation, an equipment finance company headquartered in Farmington, Connecticut and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank.

For more information about Webster, including past press releases and the latest annual report, visit the Webster website at http://www.websteronline.com/.

Media Contact: Investor Contact: Meghan Thompson 203-578-2287 Terry Mangan 203-578-2318 mthompson@websterbank.com tmangan@websterbank.com