Press Release April 19, 2005

Boston Private and Gibraltar Financial Announce Definitive Agreement

BOSTON, April 19, 2005 — Boston Private Financial Holdings Inc. and Gibraltar Financial Corporation today announced the signing of a definitive agreement in which Boston Private will acquire Gibraltar, the parent company of Gibraltar Bank FSB. The agreement marks Boston Private's entry into the Florida market. Gibraltar Bank has approximately $970 million in total assets, and conducts a private banking and wealth management business through five locations in Southeast Florida.

The partners from Goodwin Procter LLP who represented Boston Private in this matter are Bill Mayer and  Kathryn Murtagh.