NEWS RELEASE
FOR IMMEDIATE RELEASE: June 5, 2006

Special Olympics New Jersey Receives $15,000
From Sovereign Bank and Forsgate Foundation

Princeton, N.J. – June 5, 2006 – Special Olympics New Jersey was presented with a $15,000 check from the Sovereign Bank Foundation and the Forsgate Foundation at the Summer Games Night with the Trenton Thunder on June 3.

Special Olympics New Jersey’s mission is to provide year-round sports training and athletic competition in a variety of Olympic-type sports for children and adults with intellectual disabilities, giving them continuing opportunities to develop physical fitness, demonstrate courage, experience joy and participate in a sharing of gifts, skills and friendship with their families, other Special Olympics athletes and the community.

About Sovereign Bank
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a pro forma $83 billion financial institution with nearly 800 community banking offices, over 2,000 ATMs and approximately 12,000 team members with principal markets in the Northeast United States after giving effect to the Independence acquisition and recently announced branding agreement in which Sovereign ATMs will be placed in CVS/pharmacy locations. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. Sovereign is the 18th largest banking institution in the United States. For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 1-877-SOV-BANK.

Sovereign Bank, its logo and lantern are service marks of Sovereign Bank or its affiliates or subsidiaries in the United States and other countries.

About Forsgate Foundation

The Forsgate Foundation is a non-profit organization. Its purpose is to provide support to worthwhile causes in our community through use of the first-class venue and rich history of Forsgate Country Club. The Sovereign Bank Charity Golf Classic is the marquee event of the foundation and all profits from this and future event proceeds will benefit local and regional charities.

Information about the Sovereign Bank Charity Golf Classic is available by calling (732) 656-8911.

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