New York, NY and Newark, NJ – June 22, 2005 –

Banco Popular North America (BPNA) and the U.S. Small Business Administration (SBA) announced today that the Small Business Administration (SBA) offices in New York and New Jersey, have agreed to launch Banco Popular’s comprehensive small business loan solutions program featuring loans under the SBA Express Program guidelines. Banco Popular’s Small Business Loan Program was launched in mid-March of 2005 in Los Angeles.

“Banco Popular has been a steadfast and long-time supporter of the SBA since its origins in the U.S. more than 40 years ago,” said Roberto Herencia, President of Banco Popular North America. “Banco Popular remains dedicated to lending support to the small business and the entrepreneurial community in our markets.”

As part of the program, small business loans range from $5,000-$150,000 and undergo a 48-hour decision timeframe. Banco Popular has agreed to pay the SBA guarantee fee on behalf of its customers for qualifying loans in the program. In addition, approved loan applicants will have access to a free small business checking account, a debit card and a gift. The loans can be accessed through a line of credit, a business credit card or a term loan with a maturity of up to 7 years. Business banking specialists are also available at Banco Popular’s New York and New Jersey 46 branches

“The partnership between Banco Popular and the SBA allows us to make dreams happen for small business owners in the NY Metro area as we offer a full-range of financial services to businesses in underserved markets,” said Michele Imbasciani, New York Metro Regional Executive. “We believe this integrated financial solution better serves the businesses in all our communities at the branch level.”

Banco Popular also announced that it has been granted Preferred Lending Program (PLP) status in the following 31 District Offices: Augusta, Maine; Montpelier, Vermont; Denver, Colorado; Concord, New Hampshire; Boston, Massachusetts; Providence, Rhode Island; Hartford, Connecticut; Buffalo, New York; Baltimore, Maryland; Washington, D.C.; Richmond, Virginia; Charlotte, North Carolina; Columbia, South Carolina; Indianapolis, Indiana; Philadelphia and Pittsburg, Pennsylvania; Louisville, Kentucky; Cleveland and Columbus, Ohio; Nashville, Tennessee; Kansas City and St. Louis, Missouri; Atlanta, Georgia; Las Vegas, Nevada; Phoenix, Arizona; Fresno, California; Detroit, Michigan; Minneapolis, Minnesota; Salt Lake City, Utah; Seattle and Spokane, Washington; Portland, Oregon.

SBA has given several regional recognitions to Banco Popular, some include:

• 2002 Certificate of Appreciation
  Recognizing the help BPNA provided in making bridge loans to NYC small businesses following the World Trade Center attack (9/11).
• 2003 Special Achievement Award
  Recognized by the NY SBA Districts for our longstanding support of the SBA mission in NY where we granted 100 loans per year for 10 years in New York.

About Banco Popular
Banco Popular North America is a subsidiary of Popular, Inc., with more than $44 billion in assets and is ranked among the country’s 30 largest bank holding companies. BPNA operates 137 branches in California, Texas, Illinois, New York, New Jersey and Florida, as well as 114 financial services stores under the name of Popular Cash Express. Popular Inc. was named one of the “100 Best Companies to Work For” in 2005 by FORTUNE Magazine and ranks among the top 10 Small Business Administration lenders in the country. Banco Popular was founded 111 years ago in Puerto Rico. For more information, visit www.bancopopular.com

Media Contact
Juan Carlos Cruz
VP, Public Relations and Communications
(847)994-6442
JCCruz@bpop.com