Experience The Difference with Sandy Spring Bank’s Approach to Your Company’s Retirement Plans.

The Five Differences in Our Approach Mean Better Plan Performance: We’re Objective and Independent. We're Flexible. Our Fees Can Be Paid By the Employer or Through the Plan Assets—or Both. We Evaluate Over 8,000 Funds, and Recommend the Best Funds in Each Class. We Bring a Tradition of Exceptional Service to You and Your Plan. We Have a History of Success.

Difference #1: Objective and Independent Sandy Spring is Totally Independent. We have no ties to any individual mutual fund or fund family. We do not earn fees from the sale of any mutual fund. An honest, trusted relationship and objective recommendations based on investment characteristics of consistently top performing funds. The Benefit to You?

Difference #1: Objective and Independent Our Fees Are Straightforward. They are not hidden in reduced investment returns or under pages of fine print. You’ll know exactly what your plan costs you—making you a more responsible fiduciary. The Benefit to You?

“…like any other fiduciary obligation under ERISA, plan sponsors simply are required to ensure that the plan operates in the best interest of the participants…that includes a responsibility to make sure that the fees paid by the plan are reasonable… Therein lies the rub. How can plan sponsors fulfill their fiduciary obligations…if they do not even know what they are paying?” —Plan Sponsor Magazine, 2003

Difference #2: Flexibility in How Fees Are Paid Fees Can Be Paid By the Employer or the Plan Assets, or a Combination of the Two. You will have control over how plan costs are to be allocated, helping you better fulfill your fiduciary responsibility. The Benefit to You?

Difference #3: The Best Funds Experienced Portfolio Managers and a Proven Fund Selection Process. Funds are objectively evaluated, based on performance, risk, and other important criteria. This gives your plan the best possible returns in each fund category, and your employees the best investment choices available. The Benefit to You?

Comparison of Retirement Plans Offered By National Plan Provider and Sandy Spring Bank 3 Year Returns as of August 31, 2003 Investment Style Category National Plan Provider SSBDifference Fixed Income Balanced Large Cap Value Large Cap Value Large Cap Growth Large Cap Blend Small/Mid Cap Growth Small/Mid Cap Growth Small/Mid Cap Value International Stocks Averages: Value of a $10,000 investment* $ 8,332 $ 12,181 $ 3,848 *For example purposes only. Assumes equal weighting of investment into each fund and being invested for a three year period ending 8/31/03.

Difference #4: Exceptional Service Local Service Dedicated to Assisting You in Better Managing Your Fiduciary Responsibilities. Peace of mind. Your responsibilities as the plan’s fiduciary are something we take very seriously. Our approach helps you manage your fiduciary liability. The Benefit to You?

Difference #4: Exceptional Service Superior Participant Education and Support Through Personal Presentations and State-of-the-Art Online Tools, such as Morningstar ® ClearFuture. Enables your employees to get the educational support they need to get the most value and benefit from your plan. The Benefit to You?

Difference #4: Exceptional Service Reliable, No-Hassle Recordkeeping and Administration Using State-of- the-Art Technology. You and your employees save time by accessing information directly, and gaining a higher level of control. The Benefit to You?

“We were looking for a way to give our employees a world-class retirement plan that allowed us to provide the funds we wanted. Now, I am proud to offer business owners in the communities we serve the same choices and emphasis on results for their employees that we have for our own.” —Hunter R. Hollar, President, Sandy Spring Bank

Difference #5: History of Success We’ve Been Providing Retirement and Investment Management Services Since 1987 and Currently Represent $350 Million in Investment Assets. The peace of mind from working with experienced retirement plan consultants and a financially strong and stable organization. The Benefit to You?

Isn’t it Time Your Plan Experienced The Difference? Let Us Make a Difference in Your Business Retirement Plan. Let us compare your current plan with our Business Retirement Plan recommendations. It’s the fast, convenient way to see how much better your plan could be performing.

Thank You!