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Governors Budget Address

Tuesday, January 23, 2007

THE VERMONT WAY FORWARD

A Responsibility for Affordability

Mr. President, Madame Speaker, Members of the General Assembly, fellow Vermonters:

Im pleased today to present a responsible, balanced, and compassionate budget.

This budget adheres to our long-held devotion to fiscal responsibility and is designed to meet the many competing
demands we face without raising taxes. And it demonstrates my personal commitment to establishing more
responsible and sustainable increases in spending across all areas of government.

Efficiency Vermont has been named U.S. Department of Agriculture Rural Development 2006 Partner of the Year. Efficiency Vermont was chosen to receive this award for its promotion of rural economic development through energy conservation. Efficiency Vermont was recognized for playing an essential role in helping businesses throughout Vermont secure funding from USDA Rural Development's Renewable Energy/Energy Efficiency grant and loan programs. Efficiency Vermont is currently operated by Vermont Energy Investment Corporation, a non-profit organization based in Burlington since 1986.
Efficiency Vermont was created by the Vermont Legislature and the Vermont Public Service Board to help all Vermonters reduce energy costs, strengthen the economy and protect Vermont's environment. Vermont Energy Investment Corporation is under contract to the Vermont Public Service Board. For more information, contact Efficiency Vermont at 1-888-921-5990 or visit efficiencyvermont.com

American Flatbread Company, Waitsfield, VT, is pleased to announce the hiring of Victor Morrison for the position of President. After a 4-month search, involving nearly 50 applicants, Morrisons 20 years of Vermont management experience in both business and non-profit organizations earned him the role.
"Victor's diversified management background, MBA, strong financial experience and emphasis on relationship building and empowerment are a great combination. In the handful of meetings we have had thus far, our communication and teamwork have been very rewarding," said George Schenk, founder and now "former" president of American Flatbread Company. With the installation of Victor Morrison as President, Schenk will remain vitally involved as the CEO of American Flatbread Company. The company has four primary facets: wholesale production of frozen flatbreads, company owned restaurants, restaurant franchising, and the Inn at Lareau Farm.

January 19, 2007 03/07

CHITTENDEN TO ACQUIRE MERRILL MERCHANTS BANCSHARES, INC.

Burlington, VT -- Chittenden Corporation (NYSE: CHZ) and Merrill Merchants Bancshares, Inc.
(NASDAQ: MERB) (Merrill), announced today that they signed a definitive merger agreement
whereby Chittenden will acquire Merrill and its subsidiary, Merrill Merchants Bank, for
approximately $111.4 million in cash and stock. Consummation of the agreement is subject to
the approval of the shareholders of Merrill, as well as various regulatory agencies.
The
acquisition is expected to close in the second quarter of 2007. Following the completion of the
transaction, Merrill Merchants Bank will operate as a separate unit of Chittenden Corporation,
maintaining its name and senior management team.

Chittenden Corporation Reports Increased Earnings Per Share, and Announces
New Share Repurchase Plan

Burlington, VT Chittenden Corporation (NYSE:CHZ) Chairman, President and Chief Executive
Officer, Paul A. Perrault, today announced higher earnings for the year ended December 31,
2006 of $85.5 million or $1.83 per diluted share, compared to $82.0 million or $1.74 per diluted
share a year ago. For the fourth quarter of 2006, net income was $22.5 million or $0.48 per
diluted share, compared to $21.8 million or $0.46 per diluted share earned in the fourth quarter of
2005.

NEWS RELEASE
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Saint Michaels College
Public Relations Office
Colchester, VT 05439
NEWS
IMMEDIATE RELEASE
January 8, 2007
Contact: Buff Lindau
(802) 654-2536
[email protected]
> > >
Saint Michaels announces 3 finalists in presidential search
Saint Michaels College is today announcing the three finalists for president of the liberal arts residential Catholic institution located in the Burlington area of Vermont. Joseph Garrity, chairman of the Saint Michaels Board of Trustees, made public to the college community this morning the names of the three finalists for the position and announced dates when the community will have the opportunity to meet these candidates.

Extreme measures planned to get snowmobile racers back on track
ESSEX JUNCTION Organizers of the Rock Maple Extreme Snocross Snowmobile Races say that with less than three weeks to go before the Jan. 27-28 weekend of snowmobile racing that they are willing to say the show is on whether or not it snows.
Even if Mother Nature continues to be stingy with the white stuff, Champlain Valley Exposition and Rock Maple Racing officials say they are going to bring in the big guns snow-making guns, that is - to create some 18,000 cubic yards of snow. That should be enough to build the one-third of a mile circular race course, complete with tabletops, hairpin turns and extreme jumps in front of the Coca-Cola Grandstand.

Exterus Business Furniture of Shelburne announced that Chris Echo was hired as an Account Executive. Echo has been a sales representative for 11 years in the office furniture/products industry. Echo holds a B.A. in Business Management from Champlain College. For more information on Exterus, visit www.exterusfurniture.com.

OFFICE OF THE GOVERNOR
Inaugural Address of Governor James H.
Douglas

The Vermont Way Forward

Mr. President, Madame Speaker, distinguished guests, my fellow
Vermonters:

Fifty years ago, on this same Thursday,
Robert Stafford presided, as Lieutenant Governor, over a joint assembly as
Vermont’s officers took their oaths and Governor Joseph Johnson delivered his
inaugural address.

Two years later, Governor Stafford would deliver his own
inaugural and note that, “There can be but one ultimate aim for all of us. It is to take the necessary action today
to make Vermont a better place in which to live in every spiritual, social and
economic sense for ourselves and our children.”

This unadorned, ageless declaration explains
succinctly the deep inspiration within him and reminds us today of our own
responsibilities.

Bleu Sky Creative, a Burlington-based design firm, has redesigned the packaging for Cabot Creamery's light 8 oz. cheddars, now known as Cabot Reduced Fat Cheddar, found in the grocery dairy aisle. After extensive consumer research, the new design calls attention to nutritional benefits while maintaining a classic look, reflected through hand-drawn illustration and classic typography.
Bleu Sky has also helped GVV Architects, a Burlington architectural firm, redesign their web site. Their new site is project focused and articulates the firm's variety of work in a clean and complementary interface.

BLUE CROSS AND BLUE SHIELD OF VERMONT ANNOUNCES DISTINGUISHED EMPLOYEE FOR OCTOBER 2006
Berlin, VT Cheryl Bennett, a resident of Barre Town, VT, has been chosen as distinguished employee for the month of October 2006.
Ms. Bennett is a policy analyst in the operations department and has been with Blue Cross and Blue Shield for over 20 years. She is cited for the excellent internal customer service she provides and for her organizational skills. A co-worker stated, Her ability to identify issues and then step up to solve them is a credit to her and a huge advantage for Blue Cross and Blue Shield of Vermont.