HIFS 2001 Fourth Quarter - Cash Dividend Announced

SPECIAL DIVIDEND & QUARTERLY DIVIDEND DECLARED

HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that its Board of Directors declared its regular quarterly cash dividend of $0.15 per share. The dividend will be paid on January 22, 2002 to stockholders of record as of January 10, 2002.

In addition to the regular quarterly cash dividend, Hingham's Board of Directors annnounced that it will pay a special cash dividend of $0.16 per share. This special dividend will also be paid on January 22, 2002 to stockholders of record as of January 10, 2002.

Robert H. Gaughen, Jr., President and Chief Executive Officer of the Bank, stated "The special dividend is appropriate given our very solid position and the continued strength of our core earnings."

Hingham Institution for Savings is a Massachusetts-chartered savings bank located in Hingham, Massachusetts. Incorporated in 1834, it is the oldest financial institution headquartered in Hingham and one of the oldest in Massachusetts. The Bank's main offices are located on Main Street, Hingham, Massachusetts 02043, phone (781) 749-2200. The Bank also maintains branch offices in South Hingham and the neighboring towns of Hull, Cohasset, Scituate, and South Weymouth.

The Bank's shares of common stock are listed and traded on The Nasdaq Stock Market under the symbol HIFS.