WAIN Wainwright Bank & Trust Company (MM)

BOSTON, May 18 /PRNewswire-FirstCall/ -- Wainwright Bank & Trust Company (NASDAQ:WAIN) announced today it has provided $22.2 million in construction, permanent and working capital financing to The Boston Conservatory for the renovation and expansion of their theater in the Fenway. The $30 million "Hemenway Project" will enable the Conservatory to add 16,000 square feet of new rehearsal and studio performance space, as well as air conditioning, handicapped accessibility, improved seating and a host of technical upgrades to their current 60-year old facility located at 31 Hemenway Street. Mayor Thomas Menino and Conservatory President Richard Ortner attended the ceremonial groundbreaking on May 14, 2009 along with a host of students, faculty, staff, trustees, board members and representatives from Wainwright Bank, among others. "Partnering with The Boston Conservatory is a natural fit for us," said Steve Pratt-Otto, Vice President, Wainwright Bank. "We are honored to help this remarkable institution build a venue that will showcase the extraordinary talent of its students and will enhance the cultural fabric of the City." Funding for the Hemenway Project comes from a mix of fundraising and financing including a long-term loan from Wainwright Bank and New Markets Tax Credits facilitated by the Massachusetts Housing Investment Corporation (MHIC). "The team at Wainwright was engaged and responsive every day, which gave us tremendous confidence through this rather complicated financing. Better yet, they understood our small institution and its specialized mission in a way that informed every conversation. Wainwright was truly a partner in enabling this transformational facilities initiative," said Richard Ortner, President of The Boston Conservatory. About The Boston Conservatory The Boston Conservatory trains exceptional young performing artists for careers that enrich and transform the human experience. Known for its intimate and supportive multi-disciplinary environment, The Boston Conservatory offers fully accredited graduate and undergraduate programs in music, dance and theater, and presents more than 200 performances each year by students, faculty and guest artists. Since its founding in 1867, The Boston Conservatory has shared its talent and creativity with the city of Boston, the region and the nation, and continues to grow today as a vibrant community of artists and educators. About Wainwright Bank With $1 billion in assets and 12 branches throughout Greater Boston, Wainwright is widely recognized as the country's leading socially progressive bank. It has committed over $700 million in loans to socially progressive development projects including affordable housing, environmental protection, health clinics, homeless shelters, inner-city schools and many others. The Bank was named the "ultimate high-purpose company" in a recently published best selling book by award-winning author, Christine Arena, entitled "The High-Purpose Company". Jan A. Miller President & CEO Wainwright Bank & Trust Company Telephone (617) 478-4000 Fax (617) 478-4010 E-mail DATASOURCE: Wainwright Bank & Trust Company CONTACT: Jan A. Miller, President & CEO of Wainwright Bank & Trust Company, +1-617-478-4000, or Fax: +1-617-478-4010, Web Site: http://www.wainwrightbank.com/

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