NewAlliance Commercial Finance Funds its First Asset-Based Loan

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Media Contact:
Paul McCraven
Senior Vice President
NewAlliance Bank
203-784-5001

New Haven, CT December 8, 2009 – NewAlliance Commercial Finance, a newly-launched division of NewAlliance Bank, announced today the funding of its first asset-based loan. The transaction, structured as a $9.0 million revolving line of credit, will be used by Hannoush Jewelers of West Springfield, MA to refinance an existing line of credit and to provide for the company’s ongoing working capital needs. Hannoush Jewelers manufactures and sells diamond products and fine jewelry through 41 Company-owned retail stores operating under several banners, including Hannoush Jewelers, Harstan’s Jewelers, Goldstein, Swank & Gordon, and Lenox Jewelers.

“We are pleased to support such a well established regional business and to work with a management team known to us for many years”, said Andrew H. Moser, President of NewAlliance Commercial Finance. “This first loan is indicative of the type of high quality loans that we will be seeking as we move forward".

NewAlliance Bank launched the Commercial Finance Division in November, expanding the bank’s business lending offerings to include revolving lines of credit and term loans secured by accounts receivable, inventory, and other assets. NewAlliance Bank is well capitalized and poised to expand its lending capabilities to business customers seeking relevant, flexible capital solutions beyond traditional commercial lending. While many banks have pulled back their lending this year, NewAlliance has stepped up its funding to small and mid-sized businesses. The creation of NewAlliance Commercial Finance is further evidence of the bank’s commitment to small businesses in the community that rely on banks during challenging economic times.

For more information about NewAlliance Commercial Finance, call 781-326-6035.

NewAlliance Bank is a New Haven, Connecticut headquartered regional banking and financial services company, and a subsidiary of NewAlliance Bancshares Inc. (NYSE: NAL). It is the third largest bank in Connecticut and fourth largest headquartered in New England. In addition to offering a full range of personal and commercial banking products and services, NewAlliance Bank also provides trust services and investment and insurance products and services. On September 30, 2009 the Company had $8.5 billion in assets and $5 billion in deposits. The Bank’s website iswww.newalliancebank.com.

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