Manassas, Va. and Hartford, Conn., June 15, 2000—ForgeFinder.com, the first and only e-commerce marketplace dedicated exclusively to the forged metals industry, and First International Bank, a subsidiary of First International Bancorp, Inc. (NASDAQ:FNCE), today announced that they have agreed to make online financing available to metal forgers and forging buyers worldwide. The strategic alliance will facilitate the settlement of transactions between members of ForgeFinder.com, as well as meet many other credit needs of companies buying and selling open die, closed die and impression die forgings and seamless rolled rings.

To support ForgeFinder.com’s goal of linking forgers and buyers via an online auctioning process, First International Bank will make and service 14 types of commercial and international loans comprising its e-CreditMenu(sm). The bank will fund loan amounts up to US $5 million per transaction under the agreement, which is significantly greater credit availability than the US $100,000 maximum "credit card" levels typical of the online business loan market today. First International’s e-CreditMenu product offerings range from basic payment guarantees, working capital lines, equipment loans and industrial mortgages to sophisticated international trade, barter and energy financing programs.

First International Bank will underwrite loans 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 around the world and assures them of an efficient and rapid credit approval process. First International Bank will integrate the e-CreditMenu with ForgeFinder.com transactions using ThruCredit®, the bank’s technological solution for automating e-business financing.

Kyle Gillman, President of ForgeFinder.com, stated that, "We are building a one stop shop that provides instant access to the global forging community, enables companies to slash their procurement and sales costs, and fosters dynamic relationships between customers and suppliers. First International Bank's online financing capabilities will help our members close deals, no matter where in the world they are located. We are very pleased to be associated with First International, which has a long track record of financing metal forgers and their customers."

According to Brett N. Silvers, First International Bank's chairman and CEO, "ForgeFinder.com's industry leading online services include an extensive product and service catalogue, electronic purchasing and billing, an auction site — and now our bank’s global lending capabilities. Our alliance with ForgeFinder.com will help bring a new level of efficiency to the worldwide marketplace for forged metal products and services."

About ForgeFinder.com
ForgeFinder.com (www.forgefinder.com) is based in Manassas, Virginia and debuted in April 2000. The company operates a unique metals marketplace for buying and selling open die and closed die forgings and seamless rolled rings. Designed to allow buyers to obtain multiple quotes from qualified sources, ForgeFinder.com also gives sellers the opportunity to submit competitive quotes on selected business opportunities.

About First International Bank and First International Bancorp, Inc.
First International Bank (www.upscapital.com) – a world leader in the use of SBA, USDA and Export-Import Bank-backed loans – provides innovative credit, trade and financial solutions for small and medium size industrial businesses. The company has more than 200 employees and representatives at 28 locations worldwide. U.S. offices are in Boston, Cleveland, Detroit, Hartford, Los Angeles, Miami, Morristown, Philadelphia, Pittsburgh, Providence, Rochester, Springfield, St. Louis, and Washington, DC. International representatives are based in Argentina, Brazil, Central America, Egypt, India, Indonesia, Korea, Mexico, North Africa, the Philippines, Poland, South Africa, Turkey and West Africa. During 1999, the company originated $551 million in loans primarily within its industrial niche, and closed the year with a managed loan portfolio of $1.1 billion. Established in 1955, the bank is a subsidiary of the publicly traded First International Bancorp, Inc. (NASDAQ: FNCE), with headquarters in Hartford, Connecticut.

MEDIA CONTACT:

ForgeFinder.com:
Kyle Gillman
(703) 530-8171
keg@forgefinder.com

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