Current News

Merchants Bancshares, Inc. Announces
Leadership Change

The Board of Directors of Merchants
Bancshares, Inc. voted today to approve the appointment of Michael Tuttle, 51,
to succeed Joseph Boutin as President and CEO of Merchants Bancshares, Inc.,
effective on January 1, 2007.
The Board also elected Mr. Tuttle as a Director of Merchants, effective January
1, 2007, to serve the remainder of Mr. Boutin’s term that expires at Merchants’
annual meeting of shareholders in 2009. In addition to this appointment, Mr.
Tuttle will continue to serve as President, CEO and Director of Merchants’ main
operating subsidiary, Merchants Bank.

Raymond C. Pecor, Chairman of the
Board of Merchants Bancshares, Inc. commented, “This completes a transition we
started last year when Mike was appointed President and CEO of Merchants Bank.

Bryan Memorial Gallery in Jeffersonville has named Mickey Myers of Johnson its new Executive Director. Myers, formerly Executive Director of Helen Day Art Center in Stowe, succeeds Amy White who held the position for three years.
Jim Gallugi of Fairfax, former Gallery Assistant and Interim Director, has been named Assistant Director. Both Gallugi and Myers are artists with significant arts administration backgrounds.
Bryan Memorial Gallery, originally founded in 1984 by artist Alden Bryan as a memorial to his wife, artist Mary Bryan, has specialized in Vermont landscape and developed into a regional center for landscape. Myers intends to expand the gallery's offerings, including a year round exhibition schedule, workshops, arts awards and and art book shop.
More information is available at www.bryangallery.org

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JAMES H. DOUGLAS
GOVERNOR

GMP ANNOUNCES THIRD QUARTER EARNINGS
COLCHESTER, VT&Green Mountain Power Corporation (NYSE: GMP) has announced consolidated earnings of $0.54 per share of common stock, diluted, for the third quarter of 2006 compared with consolidated earnings of $0.48 per share of common stock, diluted, for the same period in 2005. Year to date earnings for 2006 are $1.60 per share, diluted, compared with earnings of $1.50 per share, diluted, for the first nine months of 2005.
Earnings increased in the third quarter of 2006 primarily as a result of lower power supply costs and transmission expenses, which were partially offset by a reduction in retail revenues of $3.3 million consistent with a restriction on earnings required in the rate agreement approved by the Vermont Public Service Board in 2003 in the Companys last retail rate case. This earnings restriction calculation is reviewed by the Vermont Public Service Board and is subject to change.

GREEN MOUNTAIN POWER SHAREHOLDERS

VOTE IN FAVOR OF ACQUISITION

BY NORTHERN NEW ENGLAND ENERGY CORPORATION,

A SUBSIDIARY OF GAZ MÉTRO LIMITED PARTNERSHIP

The numbers are just coming in for Small Dog Electronics' new flagship store and by all measurements, it's an undisputed winner.
The Apple Specialist (#1 in New England, #3 in the nation) opened its doors in Burlington, Vermont and it was clear that customers voted with their feet - and their wallets.

Jon Isaacson joined Caleidoscope Communications as the company Controller. Isaacson was previously employed locally by RingMaster Software and lived and worked in Oregon where he was the Controller for the Mandala Agency for ten years. Jon graduated from the University of Connecticut, lives in South Burlington, and serves as a soccer referee for northern Vermont youth leagues

Laura P. Dagan, the president, CEO and chairman of Dwight Asset Management Company in Burlington, has been named to the Board of Trustees at Champlain College.
Dagan, a resident of South Hero, Vt., is an active member of the Vermont Business Roundtable, Institutional Investors US Institute, Old Mutual Top Leadership Group, the Stable Value Investment Association and the international and Vermont CFA Institutes. Volunteer activities include serving as the treasurer of the Humane Society of Chittenden County.
Dagan is a Chartered Financial Analyst. She graduated from the Advanced Management Program at Harvard Business School and she earned her bachelor's degree at Bucknell University.

The Windham Foundation, one of Vermont's largest foundations, has awarded nine Vermont non-profit organizations $70,000 in grants in its fourth grant cycle for fiscal year 2006. It also pledged a $100,000 donation to the University of Vermonts Rubinstein School of Natural Resources.
Windham Foundation is an exempt foundation whose mission is to undertake and support historic restoration and preservation throughout the state of Vermont, as well as to develop projects and support charities to benefit the welfare of Vermonters. One of the ways it supports this mission is through its grants program.
Every quarter, grants are awarded to non-profit organizations primarily in the areas of social services, the arts and education with active programs that focus on the needs and quality of life in Vermont, its citizens and its communities. Since its inception, the Foundation has provided more than $10 million in funding to hundreds of non-profits across Vermont.

Calkain Institutional Advisors, a division of Calkain Companies, a national real estate investment brokerage firm, has been chosen by R.P.M.
Realty Trust as the exclusive listing agent to sale two fully leased properties located at
198 & 200 Main Street in Lewiston, Maine.
Joel Kahn, CCIM and Michael OMara will represent R.P.M. Realty Trust in the
disposition of these properties which houses the Department of Human Services for the
State of Maine. 200 Main Street, consisting of 50,823 square feet on four floors, was
completely renovated/expanded to comply with the states requirements for office space.
The State of Maine currently holds a Standard and Poors credit rating of AAA, the
highest rating the service offers. Additionally, the abutting 198 Main Street building was
simultaneously renovated as a two story, 11,700 square foot multi-tenanted building fully
occupied by several well known regional tenants.

Craig E. Isvak, CPA, PLC, a provider of accounting and tax services to businesses and individuals in the Mad River Valley and the Waterbury/ Stowe area, is pleased to announce the acquisition of Associates in Accounting, P.C. located at 6 Pinecrest Drive, Essex Junction, VT. Under the previous owner, Michael LeBoeuf, Associates in Accounting has been doing business in Essex Junction since 1989. The staff consists of both full-time and seasonal personnel with many years of experience, who will remain through the acquisition.
The new firm of Associates in Accounting, PLC, will be led by Craig Isvak and will offer tax and accounting services to both businesses and individuals. Mike LeBoeuf will remain involved at the 6 Pinecrest Drive location and will focus on financial planning as a registered representative of HD Vest.

The Vermont Economic Development Authority (VEDA) Board of Directors approved $8.5 million in financing assistance to support manufacturing, business incubator and small business projects around the state. Total costs of the projects approved for VEDA financing are $15.6 million.
These loans will help expand production capacity at several existing manufacturing facilities, said Jo Bradley. In addition, new incubator space will be created for entrepreneurs who have moved beyond the early stages of commercialization, and have begun manufacturing and producing new products and services.
Approved for financing by the VEDA Board are: