July 2 , 2002


Open Solutions Completes Technology Merger for $1.5 Billion Washington Trust Bancorp

Open Solutions platform, analysts and project managers lauded for seamless merger

GLASTONBURY, Conn., July 2, 2002 - Open Solutions Inc. (OSI), a provider of enabling technologies that include relational core account processing, financial accounting, Internet-based financial solutions, imaging and other delivery systems for community banks and credit unions, announced its successful completion of a bank technology merger between Washington Trust Bancorp, Inc. (WTB), and First Financial Corporation of Providence (Rhode Island). The systems integration was completed on May 10, 2002, just six months after Washington Trust announced its acquisition of First Financial Corporation, a $150 million asset financial institution.

WTB, a $1.5 billion institution and current OSI client, uses Open Solutions' relational core data processing product, The Complete Banking Solution* (TCBS). TCBS is an open architecture, real-time relational database enterprise application that supports a financial institution's entire core processing requirements.

"Open Solutions proved an invaluable partner in the completion of this technology integration; they supplied every resource available to get this job done right," said Barbara Perino, SVP Operations and Technology Washington Trust. According to WTB, having a relational database at the core of their technology operations was a critical component in their successful platform merger. Perino added that Open Solutions had dedicated project managers and data analysts assigned to the bank's conversion team.

"Preparation and intelligent technology applications are really the key aspects of a smooth acquisition and conversion," said John Messier, Vice President of Implementations at Open Solutions. "Three months before the conversion date, we began setting up test data and completing mock conversions to insure that Washington Trust and its new First Financial customers never experienced a ripple or snag in their banking experience. Our goal has always been to facilitate the growth of our client institutions; we were able to complete the actual data transition in less than 24 hours because 90 percent of the work was completed in those first 75 to 80 days."

In order to support Washington Trust's technology needs post-merger, Open Solutions converted and merged First Financial's system with WTB's existing relational database, thereby creating a single open, relational system. Perino said, "With Open Solutions' help we were able to include all of First Financial's account information in our database without adding additional staff to our information technology (IT) infrastructure. The fact that our IT staffing levels remain the same after undergoing a 15 percent increase in accounts is a testament to the efficiency and ease-of-use of Open Solutions' real-time processing technology."

"Helping client institutions like Washington Trust become bigger and better financial services providers is our mission at Open Solutions," said Louis Hernandez, Jr., Chairman and CEO of Open Solutions. "We dedicated our staff to assist and fully support Washington Trust's technology team to insure the success of this technology merger. The fact that an open, flexible and scaleable platform like The Complete Banking Solution facilitates our clients' growth and service goals is evidence of our commitment to not only our client institutions but to the industry as a whole."

Perino concluded, "Washington Trust has been impressed with the ease in which the First Financial retail staff adapted to and trained on the Open Solutions' platform. Because the staff learned the system so quickly, service levels never wavered."

With a post-acquisition customer base exceeding 100,000 accounts, Washington Trust has expanded its branch network into Providence and Cranston, Rhode Island, and now operates 15 branches.

About Open Solutions Open Solutions Inc. offers a fully featured strategic product platform thatintegrates core data processing applications, built on a single centralized Oracle relational database, with financial accounting, Internet banking, cash management, electronic commerce, lending origination and imaging solutions. OSI's full suite of products and services allows banks and credit unions to better compete in today's aggressive financial services marketplace, expand and tap their trusted financial relationships, client affinity, community presence and personalized service. For more information about Open Solutions, or its financial product line

Contact: Marvin (Mickey) Goldwasser Open Solutions Inc. 860.652.3153 mgoldwasser@opensolutions.com www.opensolutions.com