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                                                           FOR IMMEDIATE RELEASE



             Berkshire Hills Bancorp, Inc. Names Wayne F. Patenaude
                           as Chief Financial Officer




PITTSFIELD, MA, February 7, 2003 - Berkshire Hills Bancorp, Inc. (the "Company")
(AMEX:BHL), the holding company for Berkshire Bank (the "Bank"), today announced
that  Wayne F.  Patenaude  will join the  Company  and the Bank as  Senior  Vice
President, Chief Financial Officer and Treasurer, on or about March 1, 2003. The
retirement  of  Berkshire  Bank's  current  CFO,  Charles F.  Plungis,  Jr., was
announced on November 14, 2002 and will be effective at the end of this month.

Patenaude is currently  Executive Vice President,  Chief  Financial  Officer and
Treasurer  of American  Savings  Bank,  a $2.9  billion  subsidiary  of American
Financial  Holdings,  Inc.,  of New  Britain,  Connecticut.  He will oversee all
aspects of the Company's and the Bank's corporate  finance  function,  including
planning and budgeting,  accounting and financial  reporting.  He will report to
Michael P. Daly, President and Chief Executive Officer.

Patenaude  began  his  career in  banking  in 1982 at  Glastonbury  Bank & Trust
Company  and later  joined  Fleet  Bank of  Connecticut.  In 1991,  he  rejoined
Glastonbury  Bank & Trust Company as Senior Vice President and CFO. From 1998 to
1999, he was CFO and Treasurer of Bancorp Connecticut, Inc.

In making this announcement,  Mr. Daly, said: "Wayne is an accomplished  finance
executive  who  brings  a  valuable  combination  of  financial,  strategic  and
operational  expertise to Berkshire Bank. As is the case with all members of our
management  team,  his  experience,  background and work ethic will enable us to
implement our strategy to drive greater efficiencies and profitable growth."

Patenaude  earned his  Bachelor  of Science in Finance  from the  University  of
Connecticut in 1982 and received his Chartered  Financial Analyst  accreditation
in 1994.  He is a member of the  Hartford  Society of  Financial  Analysts and a
member of the Board of the Hartford  Chapter of the  American Red Cross.  He and
his wife,  Kimberly,  have two  children  and are  planning  to  relocate to the
Berkshires.

Berkshire  Hills  Bancorp,  Inc. is the  holding  company  for  Berkshire  Bank.
Established in 1846, Berkshire Bank is one of Massachusetts'  oldest and largest
independent  banks  and is the  largest  banking  institution  based in  western
Massachusetts.  The Bank is headquartered in Pittsfield,  Massachusetts  with 11
branch offices serving communities

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throughout  Berkshire County.  The Bank is committed to continuing to operate as
an independent bank,  delivering  exceptional customer service and a broad array
of competitively priced retail and commercial products to customers.

Statements  contained in this news release,  which are not historical facts, are
forward-looking  statements  as that term is defined in the  Private  Securities
Legislation Reform Act of 1995. Such  forward-looking  statements are subject to
risks and  uncertainties,  which could cause actual results to differ materially
from those currently anticipated due to a number of factors,  which include, but
are not limited to, factors discussed in documents filed by the Company with the
Securities and Exchange Commission from time to time.


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Media and Investor Contact:

Michael P. Daly
413-236-3194
mdaly@berkshirebank.com