OilFieldCapital.com And First International Bank Partner To Offer Online Financing
To Petroleum Exploration And Production Companies

Thousands of Upstream Petroleum Companies
To Be Fueled By Online Loans Up To US $5 Million Per Transaction

SCARSDALE, N.Y., and HARTFORD, Conn., August 17, 2000—OilfieldCapital.com, the first online financial center for independent oil and gas companies, and First International Bank, a subsidiary of First International Bancorp Inc. (NASDAQ: FNCE), have partnered to offer online financing to users of OilfieldCapital.com. Under the agreement, First International Bank will offer 14 commercial and international credit products, up to US $5 million per transaction, to buyers and sellers involved in the exploration, development, production and marketing of petroleum and other energy-related products and services.

OilfieldCapital.com and First International Bank will integrate these online financing options using ThruCredit®, the bank’s technological solution for financing industrial transactions online. The financial center’s members will be able to choose among the 14 credit products comprising First International’s e-CreditMenu(sm) to settle transactions using the OilfieldCapital.com platform, and to meet their other business credit needs. Products in the e-CreditMenu range from basic payment guarantees, working capital lines, equipment loans and industrial mortgages to sophisticated international trade, barter and energy financing programs.

"Independent oil companies and their investors are guaranteed to find a win-win environment when they do business via OilfieldCapital.com," said Steven Pottle, the company’s chairman and CEO. "First International’s proven track record in financing commercial and international trade transactions, including petroleum industry experience, adds a fundamental new benefit to the OilfieldCapital.com marketplace and our member services," added Pottle.

First International Bank will underwrite loans and other facilities appearing in its 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 facilitates an efficient and rapid credit approval process.

According to Brett N. Silvers, First International Bank's chairman and CEO, "OilfieldCapital.com and First International share the common vision that business conducted via the Internet should improve day-to-day productivity for industrial companies. Our online financing program is a valuable solution and a tremendous advantage to OilfieldCapital.com’s members as they tackle the ups and downs of the energy industry, and seek to capitalize on new business opportunities."

First International Bank is currently the world’s largest underwriter of U.S. Export-Import Bank-supported loans to small and medium size industrial companies, with more than 100 transactions in each of the past three years. In May 2000, First International was honored for its accomplishments in promoting U.S. exports, winning the President’s "E" Award for Export Service from the U.S. Department of Commerce.

With OilfieldCapital.com, First International Bank has established 12 alliances with Internet B2B marketplaces where participants engage in global industrial trade.

OilfieldCapital.com (www.oilfieldcapital.com) is the first online financial center that aggregates demand for capital by independent oil and gas producers and sources of individual, corporate and institutional capital available for investment in the oil and gas industry. The company is rapidly forming a large network of financial institutions and other capital providers that will partner with OilfieldCapital.com to offer their financing services and capital online to the thousands of privately-held and hundreds of public oil and gas companies in North America. OilfieldCapital’s mission is to significantly increase the independent petroleum industry’s access to debt and equity capital through its advisory services and its online presentation tools, company profiles, and screening capabilities.

First International Bank (www.upscapital.com) – a world leader in the use of SBA, USDA and Export-Import Bank 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 publicly traded First International Bancorp Inc. (NASDAQ: FNCE), with headquarters in Hartford, Connecticut.

MEDIA CONTACT:

OilfieldCapital.com
Steven R. Pottle
(914) 725-8894
Pottle@OilfieldCapital.com

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