Current News

Union Bank Announces New Hires
Union Bank, headquartered in Morrisville, VT, is pleased to announce the
following new hires:
Brad Prior - Deposit Operations Manager
Mr. Prior comes to Union Bank following a career at Chittenden Bank,
where he served as a Project Coordinator in their loan servicing area. In
his new position at Union Bank, Brad is responsible for managing deposit
operations activities to insure a high level of service for the bank's
customers. Mr. Prior earned an MBA from the University of Vermont in 1993.
Sharyn Kane - Training Manager
Ms. Kane comes to Union Bank following a successful career in Human
Resources. In her new position at Union Bank, Sharyn is responsible for
implementing a comprehensive bank training program. She currently serves
on the Board of Incorporators at Northwestern Medical Hospital and is

Champlain College Taps NYU's David Finney to Become Next President
Burlington -- Dr. David F. Finney has been selected by Champlain
College's board of trustees to become the college's seventh president. Dr.
Finney has accepted the board's invitation and will succeed retiring
Champlain president Dr. Roger H. Perry on July 1, 2005.
Dr. Finney is currently Dean of New York University's School of
Continuing and Professional Studies in New York City. One of the
largest schools of continuing education in the country, SCPS annually
enrolls 45,000 undergraduate, graduate and continuing education students
in more than 5,000 courses in professional, academic and enrichment
programs. During his 20-year career at NYU, Dr. Finney has held the top
management positions in several traditional undergraduate areas, including
admissions, financial aid, enrollment services, advertising and
publications.

Mt. Mansfield Union High School Teacher Wins $1,000
NASDAQ National Teaching Award
Laurel Ann Butler of Colchester, a teacher at Mt. Mansfield Union High
School in Jericho, was one of five regional semi-finalists in the annual
NASDAQ Teaching Awards competition. The $1,000 award was announced by the
National Council on Economic Education and the NASDAQ Stock Market
Educational Foundation.
Butler was one of 25 teachers nationwide and five in the northeast to
receive a total of $70,000 in prizes from the competition. The awards are
based on "best practices" lesson plans that can be easily replicated in
other classrooms across the country. Her lesson, Creative Dreams with
Enterprising Themes, was judged based on the following criteria:
· Innovation and originality;
· The degree to which the activities of the lesson engaged the students;
· Correctness of economic content;

HowellMartin goes head-to-head with Volkswagen
BRATTLEBORO -- HowellMartin Marketing & Advertising was one of three finalists in its category in the ninth annual Massachusetts Innovation & Technology Exchange (MITX) Awards for its design and development of the Real Log Homes® website. The website advanced to the final round from a field of more than 800 contendersmost of which are from Boston, New York City, Los Angeles, San Francisco and Londonand was pitted against two Volkswagen sites. The winner in the manufacturing category was the Volkswagen Passat Site, which also won Best of Show.

The MITX Awards is the largest and most prestigious competition in the country recognizing the most innovative, effective and compelling achievements in the development of interactive technologies.
HowellMartin, and its technology partner Gravity Switch, was recognized with the other finalists at a gala awards ceremony in Boston, where the winners were announced.

SENATE PASSES JEFFORDS'CHAMPLAIN VALLEY HERITAGE BILL
WASHINGTON D.C. - The U.S. Senate has given its final approval to a
bill introduced by U.S. Senator Jim Jeffords, I-Vt., to establish a
National Heritage Partnership within the Champlain Valley. The bill, which
authorizes as much as $10 million for the effort, will now go to the
President for his signature.
The program would be funded by the National Park Service and
administered through the Lake Champlain Basin Program for
projects to explore, protect and promote the area. The
Partnership will bring together more than 100 local groups to
work towards that goal.
Military history and maritime commerce have been identified as themes for
the region. Visitors would explore sites such as Fort Henry, Fort
Ticonderoga, Crown Point, the Ethan Allen Homestead, and the St. Albans

VEDA BOARD OF DIRECTORS APPROVES
FINANCING COMMITMENTS TOTALING $4.9 MILLION
Montpelier, VT - Business development, acquisition and expansion plans totaling almost $10.9 million will receive $4.9 million in financing assistance from the Vermont Economic Development Authority (VEDA).
Projects approved by the Board include manufacturing, educational, travel and tourism, agricultural, and service businesses, said Jo Bradley, Chief Executive Officer of VEDA. We are pleased to be able to help these businesses grow and expand, bringing new jobs to their regions.
The VEDA Board approved financing for the following projects:
" Business Relocation to Shaftsbury Expected to Create 165 Jobs in Bennington County Within Three Years -

Vermont Achieves Attainment with the Fine Particle Air-Quality Standards
BOSTON - EPA analysis of air quality indicates that Vermont has ambient
concentrations of fine particles that meet current health standards.
Fine particles, frequently referred to as PM2.5, are less than 2.5
micrometers in diameter (approximately one-thirtieth the size of a human
hair). Fine particles are unhealthy to breathe and have been associated
with serious health impacts, including premature death from heart and lung
disease, aggravation of heart and lung diseases (including chronic
bronchitis and asthma), increased hospital admissions and doctor visits,
and absences from work and school. These particles are derived from a
variety of sources, including factories, power plants, trash incinerators,
motor vehicles, construction activity and fires. In addition, fine

Randolph Center, VTDecember 16, 2004The Vermont Manufacturing Extension Center (VMEC) announced the addition of three new members to their Advisory Board. Monica Greene, Gerald Brown, and Gary Rabidoux have been elected to the 14-member VMEC Board that is comprised of Vermont manufacturers representing a broad cross section of industries and other leaders who strongly support manufacturing. Greene is President and CFO of Vermont Precision Tools, Inc., Brown is the President and Board Chairman of the Vermont Council for Quality, and Rabidoux is Senior Director, Value Net Integration at General Dynamics Armament & Technology Products (GDATP).

COUNCIL AUTHORIZES AND RESCINDS TAX INCENTIVES

Governor Announces Nearly $4 Million for Community Enhancement Projects
Montpelier, Vt. - Nearly $4 million dollars will be distributed among 40
towns and sponsoring organizations for projects that improve local
transportation, expanded recreational opportunities and encourage and
support economic development of Vermont's historic downtowns and village
centers, Governor Jim Douglas and Transportation Secretary Dawn Terrill has
announced.
Governor Douglas said these resources, from the 2005 transportation
enhancement projects fund, help to preserve historic transportation
buildings and create visitor centers; construct sidewalks, bicycle
pathways and bridges; and purchase scenic easements that enhance the
state's travel and tourism industry. "These funds are a significant
contribution to our intermodal transportation system and help us to
continue to strengthen our economy," Governor Douglas added.

QUEEN CITY HOUSING COSTS 35% HIGHER THAN NATIONAL AVERAGE

CHITTENDEN BANK CELEBRATES 100 YEARS SINCE CHARTER
Burlington, Vermont - One hundred years ago a group of Burlingtonians
decided that a need existed for a new financial institution in Burlington.
On December 7, 1904 Chittenden County Trust Company was established and
given two years to gather the capital to start operations.
The founders of Chittenden County Trust Company were John. J. Flynn,
Edward J. Booth, J.H. Macomber, E.F. Gebhardt, W.B. McKillup, E.P.
Woodbury, A.O. Humphrey, J.S. Patrick and R.A. Cooke. On March 30, 1906,
these individuals organized what is today Chittenden with only $50,000
capital.
"Chittenden has been a part of the Vermont community since 1904. One
hundred years later, we remain a significant part because of our employees
and our interest in the communities and the customers we serve" says
Kathleen Schirling, Director of Marketing with Chittenden Bank.