Current News

Chittenden Reports Earnings and Quarterly Dividend
(NYSE: CHZ) Chairman, President and Chief Executive Officer, Paul A.
Perrault, of Chittenden Corp in Burlington has announced earnings for the quarter ended September 30,
2004 of $19.5 million or $0.42 per diluted share, compared to $19.9
million or $0.43 per diluted share a year ago. For the first nine months
of 2004, earnings were $55.1 million or $1.18 per diluted share, compared
to $55.1 million or $1.23 per diluted share a year ago. Chittenden also
announced its quarterly dividend of $0.18 per share. The dividend will be
paid on November 12, 2004, to shareholders of record on October 29, 2004.

BURLINGTON, Vt.--The U.S. Department of Justice's National Institute of Justice (NIJ) has awarded Champlain College a $185,000 grant, which will be used to further develop the college's Computer & Digital Forensics program and promote it as the national educational model to help fight electronic crime and cyber terrorism.
Realizing that the United States is facing increasing incidents of electronic crime and terrorism and a lack of trained professionals to investigate these crimes, the NIJ has been charged with fostering educational programs in this field. According to Martin Novak, program manager at National Institute of Justice, there are very few college-level programs in computer forensics in existence, and the NIJ is looking to Champlain's program to help create a workforce within the law enforcement and business communities to combat electronic crime.

ESSEX, VT (September 2004) - Dale Carnegie Training welcomes Sarah Jo Willey to the position of Training Consultant at its Essex office. Willey will be coordinating area sales and marketing efforts.
Willeys background includes teaching Marketing Education at the high school level at the Cold Hollow Career Center in Enosburg Falls, VT as well as at Lake Region Union High School in Orleans, VT. Willeys marketing career also includes several years on the Vermont DECA (An Association of Marketing Students) Management Team. She was recognized by Vermont DECA, in 2002 as Advisor of the Year.
Willey successfully completed the Dale Carnegie Core Competency Training in June 2004 and will also be joining the Instructional Team.

Hackett & Company and Future Planning Associates, Inc. Merge
Williston, VT - on November 1, 2004, South Burlington-based Hackett &
Company's retirement plan and administrative group will merge with Future
Planning Associates, Inc. of Williston, bringing together two of Vermont's
leading retirement consulting and administration firms with over 60 years
of combined service.
The merged company, with a combined staff of 20 "qualified plan"
specialists, will operate as Future Planning Associates, Inc. under the
leadership of Suzanne Stewart as chairman and Luther F. Hackett as Vice
Chairman. The other directors of the merged company include Jan Emmons,
Marilyn Jae Lehto and Loretta Wood of Future Planning Associates and Patty
Barry, Erin Helmken and Daryl Straw from Hackett & Company.
"We believe that by combining our two companies we will be able to provide

Demont & Associates, Inc. of Portland, Maine honored Walter G. Bruska of Burlington, for his half century of service in several top development posts including Cornell University and the University of Vermont where he hired and trained some of the most successful and notable development professionals in the country. He is currently an officer at the Champlain Valley Exposition in Essex Junction, Vermont and Vice President of the Board at Prevent Child Abuse Vermont.

WESTAFF ACQUIRES SYNERGY STAFFING
Burlington, Vermont -- Westaff, provider of staffing services, of
Burlington, Vermont announced today the acquisition of the Essex
Junction-based Synergy Staffing. The acquisition was completed on
September 15, 2004.
³The acquisition has allowed a smaller, well-respected staffing service to
take advantage of the employee benefits available to Westaff employees,²
commented Dave Mount, Westaff CEO.
As a result, former Synergy clients now have access to the larger staff of
personnel specialists and broader pool of talent available through
Westaff. In addition to 40 new clients, Westaff gained 60 employees with
the acquisition.
A provider of essential staffing services including temporary,
temp-to-hire and direct recruitment placement services, Westaff Burlington
now serves more than 250 clients locally. Westaff currently employs more

Banknorth reports record earnings; Net Income Up 8%
PORTLAND, Maine Oct. 18, 2004 -- Banknorth Group, Inc. (NYSE: BNK) today reported record
quarterly net income of $97.8 million for the third quarter ended
September 30, 2004, up 8% from net income of $90.3 million for the third
quarter a year ago. On a per diluted share basis, net income was 55 cents
for the third quarter of 2004 and 55 cents for the third quarter of 2003.
Exclusive of merger and consolidation costs, income was $102.1 million for
the quarter ended September 30, 2004, up 12% from $90.8 million for the
quarter ended September 30, 2003. On a per diluted share basis, income
exclusive of merger and consolidation costs was 58 cents for the quarter
ended September 30, 2004, up 5.5% from 55 cents for the quarter ended
September 30, 2003.
For the nine months ended September 30, 2004, net income was up 10% over

Blue Cross and Blue Shield of Vermont to Offer Educational Seminars to Seniors on the New Medicare Prescription Drug Benefit
Berlin, VT - Congress signed a Medicare bill last year that effects how Medicare beneficiaries pay for prescription drugs. A wide variety of discount prescription drug cards issued because of the new law can save seniors money on drugs. Picking between the cards, however, can be confusing.
To address questions about the new law and the drug cards, Blue Cross and Blue Shield of Vermont is hosting two free educational seminars for the public. The seminar will provide information about Medicare-approved pharmacy discount cards and also about discounts on prescriptions available with BCBSVTs Medi-Comp coverage.
The informational seminars will be held in Central Vermont and Rutland:
Thursday, October 21st from 2:00pm 3:30pm
Blue Cross and Blue Shield of Vermont
445 Industrial Lane, Berlin

Green Mountain Coffee Roasters, Inc. announced on October 12 an exclusive agreement with Granco International, d.b.a. Green Mountain Company, Ltd. (GMC Ltd.) of Hong Kong to be the sole importer and distributor of Green Mountain Coffee throughout Hong Kong and Mainland China.
Under the terms of the agreement, Green Mountain Coffee Roasters will supply coffee to GMC Ltd., which plans to open a minimum of five branded retail outlets in greater Shanghai in 2005 under the name Green Mountain Café. GMC Ltd. Is also authorized to distribute Green Mountain Coffee to institutional accounts and other existing coffee shops in Hong Kong and China.

BURLINGTON, Vt.--Some Champlain College students have been hitting the bricks of the Church Street Marketplace, but this time they arent shopping. Students in Champlains Consumer Behavior course this semester are working with five businesses on the Marketplace to complete store-specific marketing research.
This is the second semester to feature such projects, which bring clipboard-carrying Marketing and Business students to the pedestrian marketplace. Last spring students worked with eight businesses on Church Street, while others conducted research for Church Street Marketplaces director Ron Redmond.
It had been difficult to acquire market research because of our budget restrictions, said Marketplace director Ron Redmond. Champlain College students answered our call.

Vermont SBA Sets Lending Record for Fiscal Year 2004

Vermont Federal Credit Union Welcomes a New Employee
BURLINGTON, VT-Joseph M. Finnigan, president and CEO of Vermont Federal Credit Union (VTFCU), is pleased to announce that Holly O. Sheltra has joined the VTFCU staff as Manager of their Burlington branch location.
Holly brings to the Credit Union more than 10 years of management, sales and lending experience. Prior to coming to the Credit Union, Holly was a Sr. Loan Officer/Jr. Underwriter for Homebound Mortgage, Inc. She was also a Consumer Loan Officer/Branch Supervisor for New England Federal Credit Union.

VTFCU is a $135 million plus financial institution, currently serving over 21,000 members. We provide membership to anyone who lives, works, worships or attends school in Chittenden, Grand Isle, Lamoille, Franklin, Washington, or Addison Counties in Vermont.
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