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                                 EXHIBIT 28(b)


[UST CORP LOGO]              N E W S  R E L E A S E


For:  Immediate Release

Contact:  Sheila Celata (617) 726-7120


                  UST CORP. APPROVES STOCK REPURCHASE PROGRAM


BOSTON, October 17, 1995:  UST Corp announced today that its Board of Directors
has approved a stock repurchase program. Under the program, the Company is
authorized to repurchase up to 500,000 shares, or approximately 2.8% of UST
Corp. common stock outstanding.

The stock buyback is authorized to take place from time-to-time, subject to
prevailing market conditions. Purchases may be made on the open market or in
privately negotiated transactions. As of today, there are approximately 18
million UST Corp. shares of common stock outstanding.

UST Corp. is a Boston based bank holding company. Through its subsidiaries, the
Company provides a broad range of financial services, principally to individuals
and privately-held, owner-managed companies in New England. These services
include commercial banking, consumer financial services, trust and money
management and equipment leasing.


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