SBM CHARITABLE FOUNDATION ANNOUNCES 2011 SCHOLARS



July 21, 2011 -

Manchester, CT (July 22, 2011)...The SBM Charitable Foundation, Inc. awarded 106
college scholarships totaling $194,100 at its annual Scholarship Reception held June
14, 2011. Thirty seven recipients are new award winners and seventy represent
scholarship renewals, with fourteen of the students attending Graduate schools.
The students, who reside in 36 central Connecticut cities and towns, will be enrolled
in sixteen Connecticut colleges and universities.

The SBM Scholarship Program began in 1996 and is available to students who
will be attending accredited colleges and universities in Connecticut and who live in
the market area originally served by the former Savings Bank of Manchester.
Scholarships are renewable each year of a student's college career if they continue
to meet the eligibility requirements set by the Foundation, which has now awarded
$1,263,200 to 554 scholars between 2004 and 2011.

In addressing the recipients who gathered for the award ceremony at the Elks
Club in Manchester, Chairman of the Board Laurence Rubinow remarked, "The SBM
Charitable Foundation takes great pride in the achievement of its scholarship
recipients. Education is ennobling. Education provides you with perspectives,
insight, and resource tools that will serve you throughout your lives. As one of our
outstanding new scholarship recipients wrote in her essay: ‘I want to use my
education to help others, to impact someone's life, to make my work and my life
mean something.' "

The SBM Charitable Foundation, Inc. was founded in 2000 by Connecticut
Bancshares, Inc., the parent company of the former Savings Bank of Manchester. The
Foundation's mission, perpetuating the vision of the former Bank, is committed to
bettering the lives of those who live and work predominantly east of the Connecticut
River in Hartford, Tolland and Windham Counties. Priority categories for funding
include health, human services, education, housing and the arts. Since its inception
the Foundation's philanthropy has reached nearly $16 million in total grants and
scholarships. The SBM Charitable Foundation is located at 935 Main Street in
downtown Manchester. For more information, visit the website at
www.sbmfoundation.org .