WATERTOWN, MA, April 25, 2005 - Exergen, the leading innovator of infrared medical thermometers, today hosted a press conference launching the Citizens Job bank which has closed on $5.8 million in loans that will create 145 jobs and approved an additional $8.2 million to add another 204 jobs across the state.

Governor Mitt Romney and Citizens Bank of Massachusetts Chairman, President and CEO Robert Smyth today were on hand at Exergen's Watertown headquarters to the new program. "Bringing new jobs to Massachusetts is a top priority and the partnership with Citizens provides an innovative opportunity for businesses to tap into the state's public and private resources," said Romney. "In just two months, the job bank has added hundreds of jobs for our citizens and helped local businesses grow and thrive."

Robert Smyth, CEO of Citizens Bank addresses press at Jobbank Press Conference

Exergen, one of the first four recipients will use the low interest financing in the Citizens Job Bank to purchase a new facility and will add 50 new manufacturing jobs as a result. "As a business owner looking to grow operations in Massachusetts and boost employment, I was pleased that the financing from Citizens Job Bank provided efficient access to capital at a below-market rate," said Dr. Frank Pompei, President of Exergen Corporation. "Over the coming months, Exergen is looking forward to moving our operations to a new facility at 400 Pleasant Street in Watertown, adding manufacturing jobs and continuing our momentum as the leading provider of non-invasive thermometry products throughout the world." (Click here for video of Dr. Pompei's speech)

Other recipients today included Legal Seafood, Expressway Motors, a Dorchester-based Toyota auto dealership and Metropolitan Cabinets.

The Commonwealth's partnership with Citizens is designed to help add more than 2,500 new jobs in Massachusetts and throughout New England. The Citizens Job Bank requires borrowers to create a minimum of one full-time job for every $40,000 borrowed
at the fixed interest rate of 3.5 percent (2.25 percent below prime). The terms of the loan require that the specified jobs be created within three years after the funds are borrowed.

The Citizens Job Bank's minimum loan size is $240,000 and the maximum is $10 million. Companies eligible for the program include any publicly- or privately-owned business in a broad array of industry sectors, including manufacturing, information technology and life sciences.

Exergen President, Francesco Pompei, PhD, introduces Massachusetts Governor Mitt Romney(R) on the Exergen production floor.

The Department of Business and Technology will conduct annual audits to certify that borrowers fulfill job creation commitments. The agency is also marketing the innovative program to companies already in Massachusetts and those businesses considering relocating to the Commonwealth.

Companies interested in obtaining more information about the program can call the Citizens Job Bank information line at 1-888-358-0100 or the Massachusetts Business Resource Team at 1-877-BIZ-TEAM. Companies can also log on to www.mass.gov/citizensjobbank or www.citizensbank.com.

Exergen Corporation is world leader in the science and technology of non-invasive thermometry systems. Developed by a team led by Dr. Pompei, who also holds an appointment in the Dept. of Physics at Harvard University, Exergen's temporal artery thermometers are protected by 20 US and foreign patents.

Please click her for the article in the April 26, 2005 issue of the Boston Globe

Please click her for the article in the April 29, 2005 issue of the Watertown Tab