FROM: amp;n  Robert H. Gaughen, Jr., President
amp;namp;namp;namp;namp;n  Hingham Institution for Savings
amp;namp;namp;namp;namp;n  Hingham, MA (NASDAQ-HIFS)
DATE: amp;namp;n  June 27, 2002
CONTACT:   Robert H. Gaughen, Jr., President

QUARTERLY DIVIDEND ANNOUNCED

HINGHAM INSTITUTION FOR SAVINGS (Nasdaq - HIFS), Hingham, Massachusetts, announced that its Board of Directors declared a quarterly cash dividend of $0.16 per share. The dividend will be paid on July 22, 2002 to stockholders of record as of July 10, 2002.

Robert H. Gaughen, Jr., President and CEO, in announcing the dividend, stated "This thirty-fourth consecutive quarterly dividend is indicative of our belief in the continued effectiveness of our core business plan. As previously announced, the first quarter earnings for this year increased by 12% over those of the same quarter last year. We believe that an appropriate dividend policy recognizes this success."

In addition to regular quarterly cash dividends, Hingham Institution for Savings has declared special cash dividends in each of the last seven years. Future dividends will be considered by the Board of Directors on a quarterly basis.

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.