New York, May 2002 FleetBoston Financial Names GlobalWorks Multicultural Advertising Agency of Record Initial Focus is on Metro Hispanic Marketplace For Immediate Release New York, May -- FleetBoston Financial, the seventh-largest financial holding company in the U.S., today named GlobalWorks Group LLC its multicultural advertising agency of record. GlobalWorks' initial assignment is to develop a marketing program that will expand and build upon Fleet's current marketing efforts to serve the Hispanic community. "This program is to complement Fleet's strategy to market our wide array of personal financial services, from basic checking, to credit cards, to online banking and online investing to both current and new customers. The needs of our Hispanic customers, and our Hispanic customers themselves, are very diverse. GlobalWorks will work with us to develop the best value proposition for these customers and make Fleet the bank of choice for the multi-faceted Hispanic community," said Anne Finucane, Executive Vice President and Director of Corporate Marketing and Communications at Fleet. Said Yuri Radzievsky, CEO of GlobalWorks: "Because the Hispanic marketplace is from a cultural standpoint so multi-dimensional, we will concentrate on messages and media that give Fleet a cohesive brand presence that connects with the diverse Hispanic sensibility." About FleetBoston Financial FleetBoston Financial is the seventh largest financial holding company in the United States, with assets of $192 billion. Fleet offers a comprehensive array of innovative financial solutions to 20 million customers in more than 20 countries and territories. Among the company's key lines of business are: retail banking, with nearly 1700 branches and more than 3,800 ATMs in the Northeast; commercial banking, including capital markets/investment banking and commercial finance; investment services, including nationwide brokerage; and full-service banking through more than 250 offices in Latin America. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE: FBF) and the Boston Stock Exchange (BSE: FBF). About GlobalWorks Group GlobalWorks is a branding, advertising and marketing consultancy providing multicultural strategies, content and interactive technology needed to build brands across all media and cultures, in the U.S. and worldwide. The company, based in New York, serves such clients as HUGHES, AC Delco, Lucent, and other major brands. GlobalWorks Contact: Dick Altman 914-243-9880 Fleet contact: Rena M. DeSisto 212-819-5922<