CONTACT: Walter M. Pressey, President and CFOAcquisition Agreement • December 4th, 2003 • Boston Private Financial Holdings Inc • State commercial banks
Boston, MA, December 3, 2003 — Boston Private Financial Holdings, Inc. (Nasdaq: BPFH) today announced it has signed an amendment to extend until April 5, 2004 its agreement to acquire an 80% interest in Dalton, Greiner, Hartman, Maher & Co. (DGHM) of New York, NY. DGHM, founded in 1990 and managing approximately $3.0 billion of client assets as of November 30, 2003, is a value style manager specializing in small-cap equities. The remaining 20% interest in the firm will be retained by members of the DGHM management team. This transaction is expected to be immediately accretive on a cash basis to BPFH and accretive on a GAAP basis within the first 12-month period.
