Exhibit 99.1

Camden National Corporation Announces Regular and Special Cash Dividends

    CAMDEN, Maine--(BUSINESS WIRE)--Dec. 28, 2004--Camden National
Corporation (Amex: CAC; the "Company"), announced today that its Board
of Directors has declared a special cash dividend of $0.50 per share
together with its quarterly dividend of $0.20 per share payable to
shareholders of record on January 14, 2005. The dividend, totaling
$0.70 per share, will be payable on January 31, 2005.
    Robert W. Daigle, President and CEO of Camden National
Corporation, said, "Our balance sheet and cash flow remain healthy and
we are confident that the Company is well positioned to perform at
levels that have made it a market leader within the State of Maine.
The decision to declare a special dividend, in addition to our regular
dividend, is a reflection of that confidence."

    Camden National Corporation, headquartered in Camden, Maine and
listed on the American Stock Exchange, the Russell 3000(R) Index and
the small-cap Russell 2000(R) Index under the symbol CAC, is the
holding company for a family of three financial services companies,
including: Camden National Bank (CNB), a full-service community bank
with 12 banking offices serving Midcoast, Kennebunk and Portland,
Maine, and online at www.camdennational.com, and recipient of the
Governor's Award for Business Excellence in 2002; UnitedKingfield Bank
(UKB), a full-service community bank with 15 offices serving central,
eastern and western Maine and online at www.unitedkingfield.com; and
Acadia Trust, N.A., offering investment management and fiduciary
services with offices in Portland and Bangor, Maine and online at
www.acadiatrust.com. In addition, Acadia Financial Consultants
operates as a division of CNB and UKB, to offer full-service brokerage
services.

    This press release and the documents incorporated by reference
herein contain certain statements that may be considered
forward-looking statements under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements can be identified by
the use of the words "believe," "expect," "anticipate," "intend,"
"estimate," "assume," "will," "should," and other expressions which
predict or indicate future events or trends and which do not relate to
historical matters. Forward-looking statements should not be relied
on, because they involve known and unknown risks, uncertainties and
other factors, some of which are beyond the control of the Company.
These risks, uncertainties and other factors may cause the actual
results, performance or achievements of the Company to be materially
different from the anticipated future results, performance or
achievements expressed or implied by the forward-looking statements.

    CONTACT: Camden National Corporation
             Suzanne Brightbill, 207-230-2120
             Public Relations Officer
             sbrightbill@camdennational.com