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| Connecticut Innovations Honors Webster Bank with Special Achievement Award |
ROCKY HILL, CONN., October 1, 2002 - Connecticut Innovations (CI), the state's leading investor in high technology, today honored Webster Bank for its significant contributions to the growth of high technology in the state. Webster Bank received the Special Achievement Award at the Twelfth Annual Connecticut Innovations Technology Exhibition and Dinner.
A seven-member committee, representing Connecticut's technology leadership, honored Webster Bank for its noteworthy support of emerging technology-oriented businesses in the state. Specifically, the committee recognized the company's leadership role in developing financing alternatives for the underserved technology market; its willingness to be not only a lender but also an investor in high-technology enterprises; and its contributions to technology cluster development in Connecticut through its participation on the Governor's Council on Economic Competitiveness and Technology.
"Connecticut's economic history is a remarkable flow of invention, innovation and technology leadership," said William T. Bromage, Webster president and chief operating officer. "Connecticut Innovations works effectively with Connecticut companies, reflecting that heritage to build our future. Webster is honored to be recognized for its role in that effort."
The Special Achievement Award is given to recognize a Connecticut organization or resident whose "lifetime" accomplishments have led to long-term, technology-related economic development in Connecticut.
"Connecticut Innovations is pleased to recognize Webster's substantial involvement in stimulating high-tech growth in the state," said Victor R. Budnick, CI's president and executive director. "Many of Connecticut's emerging high-tech companies have benefited from Webster's financial support and encouragement for business development."
In addition to Webster Bank's Special Achievement Award, Connecticut Innovations presented one Special Achievement Award to an individual, one award for Outstanding Job Growth in a small company, two awards for Outstanding Sales Growth in a CI portfolio company and one Distinguished Service Award. Since the awards program was initiated in 1992, Connecticut Innovations has presented a total of 67 technology awards.
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About Webster Bank
Webster Financial Corporation is the holding company for Webster Bank and Webster Insurance. With $12 billion in assets, Connecticut-based Webster Bank provides business and consumer banking, mortgage, insurance, trust and investment services through more than 100 banking offices, 210 ATMs and the Internet (www.websteronline.com). Webster Financial Corporation is majority owner of Chicago-based Duff & Phelps, LLC, a leader in financial advisory services, and Webster Bank owns Center Capital Corporation, an equipment leasing and financing company headquartered in Farmington, Conn., and Webster Trust Company, N.A.
For more information about Webster, including past press releases and the latest annual report, visit the Webster Bank web site at www.websteronline.com.
About Connecticut Innovations
Connecticut Innovations is a quasi-public organization that strengthens the state's economy by making equity investments in entrepreneurial, high-technology companies. Connecticut Innovations also manages funds and initiatives that foster the development of high-growth industries in the state. From 1995 to 2001, CI became the state's leading investor in high-technology companies, investing more than $109 million to attract and retain growing companies, create high-paying jobs and increase Connecticut's intellectual capital.
Awards Selection Committee
Owen Davis
Partner, PricewaterhouseCoopers LLP
Sam Gilliland
Treasurer, Connecticut Venture Group
(Senior Vice President, Investments, Salomon Smith Barney)
Louis Hernandez
Chairperson, Connecticut Technology Council
(CEO, Open Solutions Inc.)
Paul Hughes
Member, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC
Marie O'Brien
Manager, Business Development, UTC Fuel Cells
William Rice, Ph.D.
Co-chair, CURE, Connecticut's BioScience Cluster
(CEO, Achillion Pharmaceuticals, Inc.)
John Rossi
Senior Vice President, Emerging Growth and Technology Unit, Webster Bank
(Mr. Rossi did not participate on the Special Achievement Award.)
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