Boston Private Announces Pricing of Public Offering of Common Stock

BOSTON--(Business Wire)--
Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (Boston
Private) today announced the pricing of a public offering of
16,000,000 shares of its common stock at a price of $6.00 per share,
for net proceeds of approximately $90.2 million after underwriting
discounts and commissions and estimated offering expenses. Boston
Private has granted the underwriters the option to purchase up to an
additional 2,400,000 shares of common stock to cover over-allotments,
if any. The offering is expected to close on July 29, 2008. All of the
shares were offered by Boston Private and will be issued under Boston
Private's currently effective shelf registration statement filed with
the Securities and Exchange Commission.

Boston Private intends to utilize the net proceeds from the
offering to strengthen its capital base, including providing future
capital for potential resolution of its classified loans, to provide
growth capital for its affiliates and for general corporate purposes.
Keefe, Bruyette & Woods acted as sole bookrunner for the offering. A
final prospectus supplement related to the public offering will be
filed with the Securities and Exchange Commission. Copies of the final
prospectus supplement, when available, may be obtained from Keefe,
Bruyette & Woods at The Equitable Building, 787 Seventh Avenue, 4th
floor, New York, NY 10019, Attention: Prospectus Department, or by
calling 1-800-221-3246.

This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any state. The offering may be made only by means
of a prospectus and related prospectus supplement.

Boston Private Wealth Management Group

Boston Private Wealth Management Group is a national financial
service organization comprised of independently operated affiliates
located in key regions of the U.S. that offer private banking, wealth
advisory and investment management services to the high net worth
marketplace, selected businesses and institutions. The Company enters
demographically attractive markets through a very selective
acquisition process and then expands by way of organic growth. It
employs a distinct business strategy, empowering its affiliates to run
independently such that they can best serve their clients at the local
level, while at the same time providing strategic oversight and access
to resources, both financial and intellectual, to support management,
compliance, legal, marketing, and operations.

For more information about Boston Private, visit the Company's web
site at www.bostonprivate.com.

Boston Private Financial Holdings, Inc.
David Kaye, 617-912-3949
Chief Financial Officer
Dkaye@bostonprivate.com
or
Catharine Sheehan, 617-912-3767
Senior Vice President, Corporate Communications
csheehan@bostonprivate.com
or
Sloane & Company
John Hartz, 212-446-1872
jhartz@sloanepr.com

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