Webster Bank Celebrates Grand Opening of Webster Hall

Webster Bank Celebrates Grand Opening of Webster Hall

WATERBURY, Conn., Sept. 29 /PRNewswire-FirstCall/ -- Webster Bank, N.A., a subsidiary of Webster Financial Corporation (NYSE:WBS), and the Harold Webster Smith Foundation today celebrated the official naming of Webster Hall, the 2,639-seat performance area of the recently renovated Palace Theater of Waterbury, CT. The dedication ceremony was in honor of Webster's endowment gift and challenge grant of a combined $1 million to the Palace.

"The Palace is both a cultural and social center for Waterbury and an economic driver to our region," stated Webster chairman and chief executive officer, James C. Smith. "Webster fully supports the Palace and its uplifting influence on our community, and we are honored by the placing of the Webster name on this beautiful hall. On behalf of our employees, customers and shareholders, I thank you."

Webster has pledged $500,000 as an initial endowment gift to the Palace with an additional $500,000 allocated as matching funds for other individual and corporate contributions.

"We want future generations to come to the Palace for fun and cultural enrichment without relying on taxpayer dollars," said Smith. "Webster is pleased to help the Palace achieve its goal of financial independence, and we encourage all of greater Waterbury to support our magnificent center for the arts."

"The Palace's first year was a huge success, and we're looking forward to an even brighter future," said attorney and chairman of the Palace Theater board of directors, Tim Moynahan. "We'll mark our second year by following Webster's lead and establishing an endowment that will be the financial foundation for the Palace."

The renovated Palace Theater opened its doors in November 2004. The 2004- 2005 Inaugural Season opened with a sold-out performance by Tony Bennett and featured leading acts by Bill Cosby, B.B. King, Alison Krauss and Union Station and the Broadway production of "Chicago."

Over the course of this first season, more than 100,000 patrons attended Palace performances, including twenty-five greater Waterbury school groups from the Palace's education outreach program. In addition, the Palace quickly has built a volunteer program with more than 400 individuals who assist in the planning and staffing of the theater's events.

Webster Financial Corporation is the holding company for Webster Bank, National Association and Webster Insurance. With $17.4 billion in assets, Webster provides business and consumer banking, mortgage, insurance, financial planning, trust and investment services through 154 banking offices, 293 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/.

Contact: Webster Bank Media: Clark Finley, 203-578-2287 cfinley@websterbank.com

Photo: http://www.newscom.com/cgi-bin/prnh/20050606/NYWBLOGO Source: Webster Bank, N.A.

CONTACT: Clark Finley of Webster Bank, +1-203-578-2287, or cfinley@websterbank.com

Web site: http://www.websteronline.com/

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