LEGC Legacy Bancorp, Inc. (MM)

Legacy Bancorp, Inc. (the �Company�or �Legacy�) (NASDAQ:LEGC), the holding company for Legacy Banks (the �Bank�) announced today that in order to offset a portion of the Bank�s benefit plan expenses, the Bank on April 12, 2007 made investments totaling $9,571,702 in additional bank-owned life insurance (�BOLI�). Designated directors and officers of the Bank shall be provided with a death benefit of $100,000 while serving or employed by the Company in connection with their participation in the BOLI program. The death benefit is reduced to $5,000 upon the retirement of the directors and officers. Legacy Banks is headquartered in Pittsfield. It employs 165 people and has ten offices throughout Berkshire County in Great Barrington, Lee, Lenox, North Adams, Otis and Pittsfield, as well as a Loan Production Office in Colonie, New York. Legacy offers Personal Banking, Mortgage Lending, Commercial Services, Insurance, Investments, Portfolio Management, Credit and Debit Card products, and Online Services. Legacy Banks, through its predecessors City Savings Bank, chartered in 1893, Lenox Savings Bank, chartered 1890, and Lee National Bancorp, chartered 1835 has a 172-year banking history in Berkshire County. FORWARD LOOKING STATEMENTS Certain statements herein constitute �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and expectations of management, as well as the assumptions made using information currently available to management. Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions. As a result, actual results may differ from those contemplated by these statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like �believe,� �expect,� �anticipate,� �estimate,� and �intend� or future or conditional verbs such as �will,� �would,� �should,� �could� or �may.� Certain factors that could cause actual results to differ materially from expected results include changes in the interest rate environment, changes in general economic conditions, legislative and regulatory changes that adversely affect the businesses in which Legacy Bancorp is engaged and changes in the securities market. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking statements, whether in response to new information, future events or otherwise.