THURSDAY, DECEMBER 30, 1999

NEW YORK--The Federal Reserve Bank of New York Thursday approved the notice by Summit Bancorp, Princeton, New Jersey, to acquire NMBT Corp and its bank subsidiary, NMBT, both of New Milford, Connecticut.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.