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                      Granite State: Dividend News Release

 
 
 
 
 
 
 
FOR IMMEDIATE RELEASE 
 
 
 
Contact:    William G. Pike 
            Executive Vice President & CFO 
            (603) 352-1600 
 
 
 
                      GRANITE STATE BANKSHARES, INC. ANNOUNCES
                                 QUARTERLY DIVIDEND
 
 
 
December 16, 1997 -- Keene, New Hampshire -- Granite State Bankshares,  Inc.
today announced that the Board of Directors has declared a regular quarterly
dividend of $.11 per share of common stock outstanding.  The dividend will be
payable January 20, 1998 to stockholders of record January 5, 1998. 
 
Granite State Bankshares, Inc. is the parent company for Granite Bank, a New
Hampshire state-chartered commercial bank with 20 offices operating throughout
southern New Hampshire.


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