Press Release

For Immediate Release

CONTACT:

Susan Prior, Director of Public Relations

(800) 235-9058, ext. 231 or sprior@specialolympicspa.org

Fern Conte Miele, Director of External Affairs

(800) 233-5161 or fmiele@specialolympicspa.org

Sovereign Announces partnership with Special Olympics Pennsylvania at the 2004 Fall Festival in Villanova, PA

As the Official Sponsor of the Fall Festival Opening Ceremonies, Sovereign Lends Significant Support to the Program’s Second Largest State Competition

Villanova, PA – On Friday, November 12, 2004, Special Olympics Pennsylvania (SOPA) announced a special partnership with Sovereign Bank that will include a commitment of financial, event and volunteer support.  The joint announcement took place before thousands of athletes, students, volunteers and friends at Special Olympics Pennsylvania’s 2004 Fall Festival Opening Ceremonies, held at Villanova University.  Making the partnership official, Jack Killen, Director of Community Relations, Sovereign Bank, declared Sovereign’s support and presented a $25,000 check to Al Sentivitis, Chairman of the Board, SOPA, and Jeanne Marie Ulmer, an athlete from Lancaster County.

“We are proud to partner with Special Olympics and are committed to lending the program our support of its mission of inclusion and equity for individuals with intellectual disabilities,” said Jack Killen, Director of Community Relations, Sovereign Bank. “This partnership signifies the expansion of Sovereign community relations efforts, which we are committed to fostering in the communities we serve.”

Nearly 1,000 athletes and more than 200 coaches representing almost 40 Pennsylvania counties, as well as hundreds of SOPA’s friends and supporters, attended the Opening Ceremonies festivities.  Returning to Villanova for the sixteenth consecutive year, Fall Festival is the state-wide program’s second largest event and features three days of intense, athletic competition in bocce, long distance running/walking, powerlifting, roller skating, soccer and volleyball.

 “We are thrilled to be a part of this new partnership with Sovereign Bank,” said Janine Cesare, President, Special Olympics Pennsylvania. “Every dollar helps us to send more athletes to participate in events like Fall Festival.  Events such as this are anticipated by our athletes all year, but are only possible through the generosity of our neighbors and Pennsylvania businesses such as Sovereign Bank. By taking a direct interest in supporting our athletes, Sovereign is not only providing them with the opportunity to participate in sports, but helping to provide them with life-changing skills, that will improve their lives.”

Included in the partnership was Sovereign’s support for Special Olympics Massachusetts as a the Official Sponsor of the program’s State Soccer Tournament, held annually at the Governor Dummer Academy, in Byfield, MA..  Sovereign plans to expand on these partnerships to other states in 2005.

“Sovereign’s decision to partner with  Special Olympics in Pennsylvania and Massachusetts  demonstrates a tangible commitment to two of its major markets. This partnership presented Sovereign with a broad opportunity to make a difference both financially and through the volunteer efforts of our employees,” said Killen.

About Special Olympics Pennsylvania

Special Olympics Pennsylvania provides year–round training and competition in 23 Olympic –type sports to more than 26,000 children and adults with intellectual disabilities or closely related developmental disabilities. For more information on how SOPA inspires greatness visit our Web site at www.specialolympicspa.org. 

About Sovereign Bank

Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a $60 billion pro forma financial institution with more than 600 community banking offices, over 1,000 ATMs and approximately 9,500 team members in Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. In addition to full-service retail banking, Sovereign offers a broad array of financial services and products including business and corporate banking, cash management, capital markets, trust and wealth management and insurance. Pro forma for pending acquisitions, Sovereign is the 17th largest banking institution in the United States. For more information on Sovereign Bank, visit

www.sovereignbank.com, or call 1-877-SOV-BANK.