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April 5, 2007

VIA OVERNIGHT DELIVERY

Mr. Marc J. Bistricer
10 Prue Avenue, Suite 601
Toronto, Ontario
Canada M6B 1R4

      Re:  Westborough Financial Services, Inc.
           ------------------------------------

Dear Mr. Bistricer:

      Please be advised that the Board of Directors of Westborough Financial
Services, Inc. has reviewed your letter dated March 27, 2007 and disagrees with
the points you raise regarding the Board's consideration of your proposal, the
merger agreement with Assabet Valley Bancorp and the disclosures contained in
Westborough Financial's preliminary proxy materials.

      In addition, the Board of Directors, in accordance with its fiduciary
duties, thoroughly reviewed your acquisition proposal, as revised in your
letter. In the Board's view, your letter did nothing to alleviate most of the
deficiencies contained in your original proposal, including the concerns we
have expressed about obtaining regulatory approval for any transaction in which
a mutual holding company would cede control of its bank subsidiary, as well as
the lack of any benefits to Westborough's depositors, customers and community,
which continue to be absent from your proposal. After consultation with its
legal and financial advisors, the Board again determined that your proposal
does not qualify as a "Superior Proposal," as defined in the merger agreement
with Assabet. The Board also determined that neither further discussions with
you, nor the provision of confidential information to you, would be reasonably
likely to lead to a "Superior Proposal."

      As you are aware, pursuant to a provision in the merger agreement, these
determinations by the Board of Directors preclude Westborough Financial from
engaging in any discussions with you regarding your proposal. However, we have
requested, and Assabet Valley Bancorp has provided Westborough Financial with,
a limited waiver of that provision. As a result, without waiving any of
Westborough Financial's or the Board's rights, Westborough Financial's Long
Range Planning Committee (the "Committee"), which includes disinterested
directors, is willing to meet with you to hear more about your proposal. Let me
reiterate that Westborough Financial's Board of Directors has not determined
that discussions with you would be reasonably likely to lead to a "Superior
Proposal." Any meeting would only be for the purpose of


Marc J. Bistricer
April 5, 2007                                                           Page 2.


allowing you to provide further information to the Committee and would be
subject to guidelines that will be established by the Committee and
communicated to you (assuming that you would like to meet with the Committee).
Please contact us if you are interested in arranging a meeting.

                                       Sincerely,

                                   /s/ Richard A. Schaberg

                                       Richard A. Schaberg


cc: Joseph F. MacDonough
    President and Chief Executive Officer
    Westborough Financial Services, Inc.