PHILADELPHIA, Feb. 3 /PRNewswire-FirstCall/ -- Sovereign Bancorp, Inc.
(NYSE: SOV) today released the following statement commenting on Pennsylvania
legislation:
"We are pleased that the legislature has clarified the existing Business
Corporation Law. Employees, customers, suppliers and Pennsylvania communities
are well served by the action of our legislature. Access to capital geared
towards long-term business development, job creation and community enhancement
in Pennsylvania is benefited. We believe only those interested in short-term
gain at the expense of long-term job creation could oppose this action."
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company
of Sovereign Bank, a $64 billion financial institution with more than 650
community banking offices, over 1,000 ATMs and approximately 10,000 team
members with principal markets in the Northeast United States. Sovereign
offers a broad array of financial services and products including retail
banking, business and corporate banking, cash management, capital markets,
trust and wealth management and insurance. Sovereign is the 18th largest
banking institution in the United States. For more information on Sovereign
Bank, visit http://www.sovereignbank.com or call 1-877-SOV-BANK.
Sovereign Bancorp, Inc. and its directors and officers may be deemed to be
participants in the solicitation of proxies from shareholders of Sovereign in
connection with the election of directors at the 2006 annual meeting of
shareholders. Information regarding the names of Sovereign's directors and
executive officers and their respective interests in Sovereign by security
holdings or otherwise is set forth in Sovereign's proxy statement relating to
the 2005 annual meeting of shareholders, which may be obtained free of charge
at the SEC's website at http://www.sec.gov and Sovereign's website at
http://www.sovereignbank.com. Additional information regarding the interests
of such potential participants will be included in the Proxy Statement and
other relevant documents to be filed with the SEC in connection with
Sovereign's 2006 annual meeting of shareholders.
Sovereign Bancorp, Inc. will file a Proxy Statement on Schedule 14A with
the SEC in connection with its 2006 annual meeting of shareholders, which,
when filed, will be available free of charge at the SEC's website at
http://www.sec.gov. Investors and security holders are advised to read
Sovereign's Proxy Statement, when available, and the other materials to be
filed by Sovereign related to the proxy solicitation, when available, because
they will contain important information. Investors and security holders may
obtain a free copy of the Proxy Statement on Schedule 14A and all other
related material to be filed by Sovereign with the SEC (when they are filed
and become available) free of charge at the SEC's website at
http://www.sec.gov or by contacting Sovereign's proxy solicitors, Innisfree
M&A Incorporated at 1-888-750-5834 or Mackenzie Partners, Inc. at
1-800-322-2885. Sovereign also will provide a copy of these materials without
charge at the Investor Relations section of its website at
http://www.sovereignbank.com.
SOURCE Sovereign Bancorp, Inc.
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Related links:
http://www.sovereignbank.com
CONTACT:
Financial Contact - Mark McCollom,
+1-610-208-6426, mmccollo@sovereignbank.com, or Stacey Weikel,
+1-610-208-6112, sweikel@sovereignbank.com, or Media Contact - Ed
Schultz, +1-610-378-6159, eshultz1@sovereignbank.com, all of
Sovereign Bancorp, Inc.
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