March 17, 2005

FOR IMMEDIATE RELEASE

            Union Bankshares Company Declares Quarterly Dividend

      ELLSWORTH, Maine-Peter A. Blyberg, President and Chief Executive
Officer of Union Bankshares Company (the "Company"), the parent company of
Union Trust Company, announced that the Board of Directors of the Company,
at its regularly scheduled meeting declared a quarterly cash dividend of 40
cents per share on the Company's common stock.  This represents an increase
of 7.5 cents or 23.1% per share over the quarterly cash dividend  of 32.5
cents per share (restated to reflect the 2- for- 1 stock split declared on
February 9, 2005).  The payment date is April 21, 2005 for shareholders of
record as of March 25, 2005.

      Union Bankshares Company is the holding company for Union Trust
Company.  Established in 1887, Union Trust Company is a full-service,
independent, community bank locally owned and operated.  From thirteen
offices Union Trust provides banking, brokerage, insurance, retirement,
employee benefit, investment, personal trust and financial planning services
to individuals, businesses, municipalities, and non-profit organizations
along the coast of Maine from Jonesport to Waldoboro.  Union Trust takes
pride in delivering personalized, responsive service and developing quality,
innovative products for its customers.  Employing over 150 people, Union
Trust has a documented record of consistent earnings growth.  Union Trust
can be found on the Internet at www.uniontrust.com.