Exhibit 99.1

[LETTERHEAD OF CITIZENS FINANCIAL GROUP, INC.]


NEWS RELEASE
FOR IMMEDIATE RELEASE                     Contact: Melodie Jackson
October 31, 2003                                   Director of Public Affairs
                                                   617-725-5840

                    Citizens Financial Group, Inc. completes
                     acquisition of Community Bancorp, Inc.

        Transaction expands presence of New England's second largest bank


PROVIDENCE, R.I. - Citizens Financial Group, Inc. announced that at the close of
business today it will complete the purchase of Community Bancorp, Inc., the
holding company for Community National Bank. The $116 million cash transaction
continues Citizens' expansion in Massachusetts, deepening its presence in
Middlesex County.

In July, Citizens announced the agreement to acquire Community Bancorp, a bank
holding company with headquarters in Hudson, Massachusetts. Through this
purchase, Citizens has acquired more than 20,000 new customers, 10 branch
locations and 12 ATMs throughout Middlesex County, providing entry into Sudbury,
Marlborough, Acton, Hudson, Stow and Boxborough and enhancing presence in
Framingham and Concord.

"This expansion brings us into several new communities and delivers on our
continuing commitment to provide greater convenience and outstanding service to
our customers," said Thomas J. Hollister, President and CEO of Citizens Bank of
Massachusetts. "We look forward to bringing enhanced value to Community National
Bank's customers and the communities it serves."

The acquisition increases Citizens' banking network to 265 branches and nearly
650 ATMs in Massachusetts. Citizens is New England's second largest bank.


About Citizens Financial Group

Citizens Financial Group, Inc. is a $71 billion commercial bank holding company.
It is headquartered in Providence, R.I., and has more than 825 branches,
approximately 1,650 ATMs and more than 15,000 employees in seven states. It
operates as Citizens Bank in Connecticut, Delaware, Massachusetts, New
Hampshire, New Jersey, Pennsylvania and Rhode Island. Citizens is one of the 20
largest commercial bank holding companies in the United States. Citizens is
owned by The Royal Bank of Scotland Group plc. The Citizens Web site is
www.citizensbank.com.

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