Enterprise Bancorp, Inc. Announces Quarterly Dividend Increase of 12.5%

LOWELL, Mass.--(Business Wire)--Enterprise Bancorp, Inc. (the "company") (NASDAQ:EBTC)

The Board of Directors of Enterprise Bancorp, Inc. today declared
a quarterly dividend of $0.09 per share to be paid on March 3, 2008 to
shareholders of record as of February 11, 2008. The quarterly dividend
represents a 12.5% increase over the 2007 dividend rate.

Enterprise Bancorp, Inc. is a Massachusetts corporation that
conducts substantially all of its operations through Enterprise Bank
and Trust Company, commonly referred to as Enterprise Bank. The
company principally is engaged in the business of attracting deposits
from the general public and investing in commercial loans and
investment securities. Through the bank and its subsidiaries, the
company offers a range of commercial and consumer loan and deposit
products as well as investment management, trust and insurance
services. The company's headquarters and the bank's main office are
located at 222 Merrimack Street in Lowell, Massachusetts. The
company's primary market area is the Merrimack Valley, North Central
region of Massachusetts and South Central New Hampshire. The company
has fourteen full-service branch banking offices located in the
Massachusetts cities and towns of Lowell, Andover, Billerica,
Chelmsford, Dracut, Fitchburg, Leominster, Tewksbury, and Westford,
and in Salem, New Hampshire, which serve those cities and towns as
well as the surrounding communities. The Company plans to open a new
branch facility in the city of Methuen, Massachusetts in Spring 2008.

Enterprise Bancorp, Inc.
Mary Ellen Fitzpatrick, 978-656-5520
Senior Vice President, Corporate Communications

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