February 1, 2002

FOR IMMEDIATE RELEASE
Contact: Ann Hudner, Rhode Island School of Design, 401 454-6347, ahudner@risd.edu
or Kathleen Searle, FleetBoston Financial, 401 278-3789

FLEET GIFT TO ESTABLISH NEW RISD LIBRARY LOCATION

RISD dramatically enlarges its library with move to Fleet's Historic Banking Building at 15 Westminster Street

PROVIDENCE, RI --Roger Mandle, president of Rhode Island School of Design and Anne Szostak, Chairman and CEO of Fleet-Rhode Island have announced that FleetBoston Financial will be donating to RISD a portion of its 15 Westminster Street facility which will include the historic banking hall, second floor and a portion of the basement. The space, with an estimated value of over $1 million, will become the new home of the RISD Library.

Integral to the ongoing transformation of the RISD campus, this new location for the RISD Library will dramatically enlarge the capacity of the library as it moves from a 12,000-square-foot library on historic Benefit Street to a nearly 60,000-square-foot library space within the new location. Continuing RISD's commitment to the revitalization of downtown Providence, the RISD Library will join other college properties currently across the river from the campus, including the Center for Integrative Technologies, RISD's Graduate Center and risd|works.

Fleet's gift of this space to RISD for its library will have an enormous impact on the RISD community and the RI community and greatly benefit our academic program," states Roger Mandle. "This is an exceptionally generous and unselfish gesture by Fleet but typical of their giving back to the communities they serve."

"The opportunity to contribute to the increasing cultural and scholarly vitality of the Rhode Island community is integral to our ongoing mission," said Anne Szostak. "Fleet strongly supports the arts and education and sees this as an opportunity to not only support RISD but also provide greater access to arts and education to all Rhode Islanders," said Szostak.

Originally built in 1917, the main site of the library will be the large former banking hall of the facility. This monumental, finely ornamented salon in the style of the Italian High Renaissance is approximately 180-feet long, 114-feet deep and 50-feet high. While officially located at 15 Westminster Street, RISD's preliminary renovation plans include reopening the front doors that face the river located on Memorial Boulevard.

The RISD Library is open to members of the RISD community as well as faculty, students from the Consortium of Rhode Island Academic and Research Libraries (CRIARL) institutions and the staff and membership of the Providence Athenaeum and visitors engaged in pertinent research. The RISD Library also welcomes the public to access the library for on-site reading and browsing. The library will continue its ongoing public programming including exhibitions and "Readings in the Reading Room."

The RISD Library opened with the college in 1878 with all its holdings in a single bookcase. One of the oldest independent art college libraries in the country, it has more than 100,000 volumes and 400 periodical subscriptions offering an unusual depth and richness in the areas of architecture, art, design, furniture and photography. Created as a specialized library of art and design publications and visual resources, the collection provides strong historical and contemporary perspectives, and materials in landscape architecture, ceramics, textiles, sculpture, drawing, painting, colonial furniture and jewelry, supporting advanced research. The portion of the building included in the gift will be occupied by the existing tenants until March 2005; RISD will renovate and occupy the intended space soon thereafter.

About RISD
Since its founding in 1877, Rhode Island School of Design (RISD) has earned a worldwide reputation as the preeminent art and design college in the country. Today, with over 16,000 alumni, the college enrolls approximately 1,800 students and 275 graduate students from the United States and more than 47 countries, offering degree programs in the fine arts, architecture and design disciplines and art education. Academic programs include research and design initiatives, the exploration of art criticism and contemporary cultural concerns as well as international exchange programs. Each year, RISD hosts prominent and accomplished artists, critics and authors to its campus. Included within the college is The RISD Museum, housing 80,000 works of art in its permanent collection.

About Fleet
FleetBoston Financial is the seventh-largest financial holding company in the United States. A diversified financial services company with assets exceeding $200 billion, Fleet offers a comprehensive array of innovative financial solutions to 20 million customers in more than 20 countries and territories. Among the company's key lines of business are: retail banking, with more than 1,500 branches and more than 3,800 ATMs in the Northeast; corporate banking, including capital markets/investment banking and commercial finance; investment services, including nationwide brokerage; and full-service banking through more than 250 offices in Latin America. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF).