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EXHIBIT 99.1     PRESS RELEASE


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BERKSHIRE HILLS BANCORP, INC., REPORTS CORRECTION TO FIRST
QUARTER 2001 EARNINGS


PITTSFIELD,  MA - May 14, 2001 - Berkshire Hills Bancorp,  Inc. (the "Company"),
(AMEX:  BHL), the holding  company for Berkshire  Bank (the "Bank"),  previously
reported  earnings per share for the quarter ending March 31, 2001 at $0.30. Due
to an error in the calculation of average shares outstanding attributable to the
Company's  2001  Stock-Based  Incentive  Plan,  basic  earnings  per share  were
understated  by $0.01 and  should  have been  reported  as $0.31 per  share,  as
compared to $0.30 per share.  Diluted earnings per share remained unchanged from
the $0.30 per share  previously  reported.  Basic average shares  outstanding at
March 31, 2001 was reported at  6,881,000.  The correct  figure should have been
6,676,000.  Average  diluted  shares  outstanding  for the  quarter  remains  at
6,914,000.


Contact:  Charles F. Plungis, Jr.
          Sr. Vice President & Chief Financial Officer
          413-236-3295