Chicago, Ill. and Hartford, Conn., March 28, 2000 – MachineTools.com, the leading business-to-business e-commerce site for the machine tool industry, and First International Bank, a subsidiary of First International Bancorp, Inc. (NASDAQ:FNCE), today announced that they have partnered to make online, real-time financing available to participants in the MachineTools.com marketplace. The partnership will facilitate how buyers and sellers trade machinery and related services in the MachineTools.com marketplace, and will meet participants’ many other credit needs.

As part of MachineTools.com's industry leading effort to establish a fully objective, comprehensive and current e-commerce marketplace for machine tools, First International Bank will offer 14 different types of commercial loans and leases, which together comprise its e-CreditMenu^sm. While most online business financing is a "credit card" type transaction, with a $100,000 maximum, the e-CreditMenu will handle transactions up to $5 million. The e-CreditMenu products range from basic equipment loans and leases to working capital lines, industrial mortgages and sophisticated import/export, barter and energy financing programs. Equipment financing for qualified borrowers may include extended repayment terms, low downpayments, and capitalization of warranty, service and installation costs.

First International Bank will underwrite equipment loans and leases and other facilities appearing in the e-CreditMenu in accordance with Riscope^sm, the Bank’s proprietary commercial credit scoring system. Riscope applies to most types of industrial companies located in the United States and abroad and assures them of an efficient and rapid credit approval process. The integration of First International Bank’s e-CreditMenu with MachineTools.com transactions will be accomplished using ThruCredit^sm, the Bank’s technological solution for automating e-business financing.

According to Stuart Carlin, CEO and Founder of MachineTools.com, "First International Bank’s business-to-business capabilities are a welcomed addition to MachineTools.com’s existing services for the machine tool industry, which include our new Community Forum and the On-location Auction Area launched in January 2000. Establishing access to financing is critical to providing machine tool buyers and sellers everything they want in one place. First International Bank’s particular expertise in financing equipment over $100,000 and its international capabilities will be of great value to our marketplace."

Brett N. Silvers, First International Bank’s chairman and chief executive officer, stated that, "MachineTools.com is a leader in providing meaningful business-to-business solutions that expedite the procurement process for products and services in the machine tool industry. Our partnership with MachineTools.com will now bring significant efficiencies to the global financing of machine tool transactions over $100,000 as well."

About MachineTools.com

Originally launched during August of 1999, MachineTools.com provides the machine tool industry with a fully objective, comprehensive and current marketplace that connects buyers and sellers of machines and related services. Focusing exclusively on the machine tool industry, MachineTools.com is dedicated to expediting the current procurement processes for products and services, rather than trying to redefine them.

MachineTools.com currently has thousands of machine listings provided by more than 400 dealers, and has recently added a new Community Forum that allows industry professionals to easily exchange machine tool-related information and consult with industry experts. Each weekday MachineTools.com records more than 12,000 page views and 3,200 unique viewers that represent a wide cross-section of industries.

For more information, contact MachineTools.com at: 1-800-783-0007, or visit the web site at www.machinetools.com.

About First International Bank and First International Bancorp, Inc.

Hartford-based First International Bank (www.upscapital.com) and First International Bancorp, Inc. specialize in providing innovative credit, trade and financial solutions to small and medium size industrial companies located in the United States and international emerging markets. The Company is the nation’s most active combined user of loan guarantee programs made available by the U.S. Small Business Administration, U.S. Department of Agriculture and U.S. Export-Import Bank. During 1999, the Company originated $551 million in loans primarily within its industrial niche, bringing the managed portfolio including loans on-balance sheet and serviced for investors to $1.076 billion.

The Company has SBA preferred lender status in 21 districts, USDA certified lender status in several states, and Export-Import Bank AA delegated authority for export working lines of credit on a national basis. The Company operates domestic representative offices in Boston, MA, Cleveland, OH, Detroit, MI, Hartford, CT, Morristown, NJ, Philadelphia, PA, Pittsburgh, PA, Providence, RI, Rochester, NY, Springfield, MA, St. Louis, MO, and Washington, DC. The Company also has international representatives in Argentina, Brazil, Central America, Egypt, India, Indonesia, Korea, Mexico, North Africa, the Philippines, Poland, South Africa, Turkey and West Africa.

CONTACT:

MachineTools.com:
Maria Coker
(312) 482-8103
mcoker@machinetools.com

First International Bank:
Michele Zommer
(860) 241-4705
zommerm@firstinterbank.com