Forsgate Foundation - Charity Golf Classic

NEWS RELEASE
FOR IMMEDIATE RELEASE: August 31, 2005
CONTACT: Suzy Abrams-Jones, SBA Public Relations
(203) 618-1864 office / (407) 256-6200 mobile / soozabrams@aol.com

Sovereign Bank To Title Sponsor
The Forsgate Foundation Charity Golf Classic
--Two-Year Agreement Solidifies Event's Strong Corporate Support--

Monroe Township, NJ. - Officials of The Forsgate Foundation Charity Golf Classic are pleased to announce that Sovereign Bank, the 19th largest banking institution in the United States, has signed a two-year, title sponsorship agreement with the event-anchoring a strong field of corporate sponsors and tournament participants. The Forsgate Foundation Charity Golf Classic will now be titled The Sovereign Bank Charity Golf Classic and will take place September 25-26, 2005, at the private Forsgate Country Club in Monroe Township.

The Sovereign Bank Charity Golf Classic features two days of golf and fun in an effort to raise funds for Special Olympics New Jersey and other local charities. PGA Professional John Daly, LPGA phenom Natalie Gulbis, and Champions Tour legend Peter Jacobsen will headline the third annual Charity Golf Classic.

"Sovereign has a long history of supporting youth in the communities where we live and work. We are very proud to support the Forsgate Foundation and their charities through our sponsorship of the Sovereign Bank Charity Golf Classic," said Warren Taylor, market president for Sovereign Bank in New Jersey.

Strong sponsor support and a sold-out playing field for the Charity Golf Classic's 18-hole golf tournament will allow the event to realize its goal of raising valuable dollars for Special Olympics New Jersey.

"We are thrilled to have Sovereign Bank join the loyal group of corporate sponsors that have supported the Charity Golf Classic for the past three years," said Forsgate Foundation Executive Director Dave Wasenda. "The overwhelming support of our sponsors and players has given us the opportunity to secure well-known personalities in Daly and Gulbis, and of course, Peter Jacobsen, who has been an enthusiastic participant since the event's inception. This year's event promises to be the best of them all."

In addition to Sovereign Bank, other major sponsors of the Golf Classic include UBS Financial Services, Malouf Auto Group, and Bud Light.

UBS Financial Services will sponsor the September 25th Live and Silent Auction that will offer event participants the opportunity to bid on an array of unique sports memorabilia, extravagant vacation getaways, and once-in-a-lifetime opportunities to be playing partners with Daly, Gulbis, and Jacobsen in the event's nine-hole Skins Game.

On September 26th at 2:00PM, Malouf Auto Group will serve as the primary sponsor of the Charity Golf Classic's Exhibition Clinic, a light-hearted event that features the skills and showmanship of Daly, Gulbis, and Jacobsen.

The public is welcome to come out and watch John Daly drive the ball; Natalie Gulbis demonstrate her LPGA Tour skills; and Peter Jacobsen imitate some of golf's legendary personalities in this hour-long clinic. Entertainer Matt Griesser, best known for his role as "Sign Boy" in FootJoy's national television commercials, will serve as the Exhibition Clinic's Master of Ceremonies.

The Sovereign Bank Charity Golf Classic will conclude with a nine-hole Bud Light Skins Game, sponsored for the third straight year by High Grade Beverage. Fans are encouraged to come out and cheer on their favorite golfer as Daly, Gulbis and Jacobsen battle it out on the links for a total purse of $9,000.

Tickets for the Exhibition Clinic and the Bud Light Skins Game are $15 and are available for purchase by calling (732) 656-8911.

Organizations interested in becoming a sponsor of the Sovereign Bank Charity Golf Classic are requested to contact Dave Wasenda at 732-656-8911 or charityclassic@forsgatecc.com.

To learn more about the Sovereign Bank Charity Golf Classic and the celebrity guests, visit www.forsgatefoundation.org

SOVEREIGN BANCORP, INC., ("SOVEREIGN") (NYSE: SOV), IS THE PARENT COMPANY OF SOVEREIGN BANK, A $60 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 19TH LARGEST BANKING INSTITUTION IN THE UNITED STATES. FOR MORE INFORMATION ON SOVEREIGN BANK, VISIT HTTP://WWW.SOVEREIGNBANK.COM OR CALL 1-877-SOV-BANK.

THE FORSGATE FOUNDATION ( WWW.FORSGATEFOUNDATION.ORG )WAS LAUNCHED IN 2003 AS A NON-PROFIT ORGANIZATION WITH THE MISSION OF PROVIDING SUPPORT TO WORTHWHILE CAUSES LOCATED WITHIN NEW JERSEY THROUGH USE OF THE RENOWNED AND HISTORIC FORSGATE COUNTRY CLUB. THE FORSGATE FOUNDATION CHARITY GOLF CLASSIC, WHICH WAS ESTABLISHED IN 2003, WILL BE AN ANNUAL EVENT OF THE FOUNDATION. ALL PROFITS FROM IT AND FUTURE FOUNDATION EVENT PROCEEDS WILL BENEFIT NEW JERSEY CHARITIES.

FOR THREE DECADES, SPECIAL OLYMPICS NEW JERSEY ( WWW.SONJ.ORG ) HAS BEEN HELPING CHILDREN AND ADULTS WITH DEVELOPMENTAL DISABILITIES AND THEIR FAMILIES CONNECT WITH OPPORTUNITY AND ACHIEVEMENT. MORE THAN 13,500 ATHLETES FROM OVER 400 COMMUNITIES IN NEW JERSEY PARTICIPATE IN SPECIAL OLYMPICS. THEY LEARN SKILLS, EXPERIENCE THE TRIALS AND TRIUMPHS OF SPORTS, AND FIND TALENTS WITHIN THAT OTHERS DID NOT THINK POSSIBLE. WITH THE NEW SPECIAL OLYMPICS NEW JERSEY SPORTS COMPLEX, THE ORGANIZATION OFFERS MORE SPORTS PARTICIPATION, EDUCATION AND CONNECTION FOR ATHLETES, THEIR FAMILIES, VOLUNTEERS AND THE COMMUNITY. TODAY THEY ARE CREATING AN EVEN BIGGER NETWORK OF OPPORTUNITY. SPECIAL OLYMPICS NEW JERSEY'S MISSION IS TO PROVIDE YEAR-ROUND SPORTS TRAINING AND ATHLETIC COMPETITION IN 23 OLYMPIC-TYPE SPORTS FOR CHILDREN AND ADULTS WITH MENTAL RETARDATION OR OTHER CLOSELY RELATED DEVELOPMENTAL DISABILITIES.

FORSGATE COUNTRY CLUB ( WWW.FORSGATECC.COM ) IS AN EXCLUSIVE, FULL SERVICE, FAMILY-ORIENTED PRIVATE COUNTRY CLUB LOCATED IN THE HEART OF NEW JERSEY. FORSGATE OFFERS PERMANENT GOLF, SPORTS AND SOCIAL MEMBERSHIPS FOR INDIVIDUALS, FAMILIES AND CORPORATIONS. ESTABLISHED IN 1931, FORSGATE COUNTRY CLUB FEATURES 36 HOLES OF WORLD-CLASS GOLF, INCLUDING THE RENOWNED CHARLES BANKS COURSE, DESIGNED TO RECREATE HISTORIC HOLES THROUGHOUT EUROPE, AND THE PALMER COURSE, WHICH IS A TRADITIONAL AMERICAN COURSE WITH CHALLENGING WATER HAZARDS ON TEN OF ITS SCENIC HOLES. THE COUNTRY CLUB ALSO OFFERS FACILITIES FOR BANQUET EVENTS AND CORPORATE MEETINGS CURRENTLY AVAILABLE TO NON-MEMBER GUESTS. FORSGATE COUNTRY CLUB, WHICH IS LOCATED MIDWAY BETWEEN NEW YORK CITY AND PHILADELPHIA AT EXIT 8A OF THE NJ TURNPIKE, IS OWNED AND MANAGED BY RDC GOLF GROUP, INC.

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