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Citizen Bank Supports GPMBSA Project


Philadelphia Minority Business Development Center Announces Creation of Strategic Business Alliance

July 19, 2002
Press Release - For Immediate Release
Initiative will be funded in part by a $25,000 grant from Citizens Bank


PHILADELPHIA — The Philadelphia Minority Business Development Center today announced the formation of the Greater Philadelphia Minority Business Strategic Alliance (GPMBSA), a nonprofit entity that will assist entrepreneurs and disadvantaged businesses in the Philadelphia region through the collaboration of strategic partners and the various public and private agencies in the city of Philadelphia. The organization has received an initial grant of $25,000 from Citizens Bank.

The Greater Philadelphia Minority Business Strategic Alliance will consist of a network of strategic partners, including the Philadelphia Minority Business Development Center; the City of Philadelphia Minority Business Enterprise Council; the SBA's Small Business Development Centers; the Ben Franklin Technology Partners; the City of Philadelphia Empowerment Zones; the Philadelphia Industrial Development Corporation; several major financial institutions and other economic development agencies. The alliance's mission is to promote collaborations between public and private agencies and disadvantaged businesses.

The Citizens Bank grant will be used to help launch a web site for the Greater Philadelphia Minority Business Strategic Alliance. The site will contain links to the alliance's strategic partners and will also provide information about services available to the minority and small business community. In addition, the site will have bulletin boards listing business opportunities and current events of interest to the minority business community. It is expected to be operational this fall.

"We anticipate that the Greater Philadelphia Minority Business Strategic Alliance's web site will become the area's 'one stop' shop for entrepreneurs and minority and small businesses seeking technical assistance, procurement opportunities and sources of capital to establish and grow their businesses," said Marjorie Anderson, Executive Director of the Greater Philadelphia Minority Business Strategic Alliance.

"The success of minority-owned companies and small businesses is vital to the Philadelphia region's economy. By providing access to valuable information and resources, the Greater Philadelphia Minority Business Strategic Alliance is helping to strengthen and grow our business community," said Stephen D. Steinour, Chairman and Chief Executive Officer of Citizens Bank. "We are pleased to lead the formation of this program and help the region's businesses attain success."

About Citizens Bank
Citizens Bank of Pennsylvania is a $17.8 billion bank with more than 322 branches, 574 ATMs and a convenient network of commercial banking offices throughout Pennsylvania. It also operates four retail branches in southern New Jersey. It has more than 4,500 employees. Citizens Bank of Pennsylvania is a subsidiary of Citizens Financial Group, Inc., a $53 billion, Providence, R.I.-based commercial bank holding company with more than 710 offices and more than 1,495 ATMs, operating as Citizens Bank in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, Pennsylvania and Rhode Island. Citizens is one of the 20 largest commercial banks in the United States. It is wholly owned by The Royal Bank of Scotland Group plc. For more information, visit the Citizens Bank web site at www.citizensbank.com.

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