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The following is an excerpt from a 10-K SEC Filing, filed by CAMDEN NATIONAL CORP on 4/1/1999.
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CAMDEN NATIONAL CORP - 10-K - 19990401 - AUDITORS_OPINION

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

The Shareholders and Board of Directors
Camden National Corporation

We have audited the accompanying consolidated statements of financial condition of Camden National Corporation and Subsidiaries as of December 31, 1998 and 1997, and the related consolidated statements of income, changes in shareholders' equity, and cash flows for each of the three years in the period ended December 31, 1998. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Camden National Corporation and Subsidiaries as of December 31, 1998 and 1997, and the consolidated results of their operations and their cash flows for each of the three years in the period ended December 31, 1998, in conformity with generally accepted accounting principles.

Berry, Dunn, McNeil & Parker (signature) Portland, Maine
January 22, 1999

[Pages 42 - 43 list the Boards of Directors and Bank Administrations]

Boards of Directors and Bank Administrations

In appreciation for their dedication and outstanding contributions To the Board of Directors of Camden National Corporation, We acknowledge the retirement of

David H. Montgomery Director, 1966-1998 Chairman, Camden National Corporation, 1976-1998

And

Kenneth C. Dickey Director, 1970-1997 Vice Chairman, Camden National Corporation, 1976-1997

Directors of
Camden National Corporation

Rendle A. Jones
Chairman, Camden National Corporation
Attorney & Partner - Harmon, Jones & Sanford Keith C. Patten
President & CEO, Camden National Corporation Chairman, Camden National Bank
Peter T. Allen
Private Investor
Ann W. Bresnahan
Civic Leader
Royce M. Cross
President, Woodrow W. Cross Agency
Robert W. Daigle
President & CEO, Camden National Bank
Robert J. Gagnon
Store Manager, Rockland Shop 'n Save
John W. Holmes
President, Consumers Fuel Co.
John S. McCormick, Jr.
Engineer & Developer
Consolidated Real Estate and Engineering Richard N. Simoneau, C.P.A.
Tax Partner, Simoneau & Norton, P.A.
Arthur E. Strout
Attorney & Partner - Strout & Payson, P.A.

Directors of Camden National Bank

Keith C. Patten
President & CEO, Camden National Corporation Chairman, Camden National Bank
Robert W. Daigle
President & CEO
Peter T. Allen
Private Investor
Ann W. Bresnahan
Civic Leader
David C. Flanagan
President, Viking, Inc.
Robert J. Gagnon
Store Manager, Rockland Shop 'n Save
John W. Holmes
President, Consumers Fuel Co.
Rendle A. Jones
Attorney & Partner - Harmon, Jones & Sanford John S. McCormick, Jr.
Engineer & Developer
Consolidated Real Estate and Engineering Richard N. Simoneau, C.P.A.
Tax Partner, Simoneau & Norton, P.A.
Arthur E. Strout
Attorney & Partner - Strout & Payson, P.A. Rosemary B. Weymouth
President, Megunticook Management Co.

Associate Directors of
Camden National Bank

C.R. deRochemont
Realtor, C.R. deRochemont Realtor
Kenneth C. Dickey
Retired Vice Chairman,
Camden National Corporation
Haskell & Corthell Real Estate
Frederick G. "Ted" Hanley
Retired Executive Vice President,
Camden National Bank
Lawrence N. Hopkins
Retired President, Camden National Bank
David H. Montgomery
Retired Chairman, Camden National Corporation Past Chairman, Allen Agency

Administration of
Camden National Corporation

Keith C. Patten
President & CEO
Susan M. Westfall
Vice President, Clerk, Treasurer
& Chief Financial Officer
Jeffrey D. Smith
Vice President & Chief Operations Officer Steven D. Dailey
Vice President & Information Systems Officer June B. Parent
Assistant Vice President & Personnel Manager Kathryn M. Ryder
Financial Officer
Manager, Accounting Department
Brenda B. Munroe
Manager, Electronic Banking Department
Robert E. Cleveland, Jr.
Senior Network Administrator
Timothy J. Pratt
Manager, Items Processing Department
Jennifer F. Mazurek
Manager, Deposit Services Department

Administration of
Camden National Bank

Keith C. Patten
Chairman
Robert W. Daigle
President & CEO
John P. "Jack" Williams
Senior Vice President, Commercial Loan & Business Development Officer Michael A. McAvoy
Vice President & Senior Loan Officer
Susan M. Westfall
Vice President, Cashier &
Investment and Trust Officer
Charles A. Wootton
Vice President, Branch Administration Officer & Commercial Loan Officer
Joanne T. Campbell
Vice President &
Residential Real Estate Administration Officer Stephen C. Staples
Vice President, Regional Manager &
Commercial Loan Officer
James C. Ebbert
Assistant to the President
Barbara B. Hanson
Assistant Vice President & Commercial Loan Officer Richard E. Littlefield
Assistant Vice President & Commercial Loan Officer Craig S. Dahlberg
Assistant Vice President & Commercial Loan Officer Kimberly J. Nason
Mortgage Loan Underwriter
Christopher A. Frohock
Commercial Loan Officer
Lee Ann Szelog
Marketing Manager
Marie M. Charest
Training Officer
Vera E. Rand
Commercial Credit Administrator
Jane G. Pierce
Branch Administration Service Manager

Ellen L. Ellis
Loan Servicing Department Manager
Ann E. Filley
Call Center and NetBANK Manager

Branch Administration of
Camden National Bank

Paul C. Doody
Vice President, Regional Manager &
Manager, Belfast Office
Robert P. Wheeler
Assistant Vice President, Regional Manager & Manager, Vinalhaven Office Brenda J. Condon
Assistant Vice President &
Manager, Bucksport Office
Rodney L. MacDougal
Assistant Vice President &
Manager, Waldoboro Office
Sangeeta B. Norton
Manager, Rockland Office
Judith L. Brogden
Manager, Camden Square Office
Susan L. O'Brien
Manager, Union Office
R. Todd Starbird
Manager, Thomaston Office
Walter C. Reynolds
Manager, Damariscotta Office
Jane G. Pierce
Interim Manager, Main Office

Directors of United Bank

Royce M. Cross, Chairman
President, Woodrow W. Cross Agency
Bruce D. Bartlett
President, Treasurer & CEO
Kermit P. Allen
Treasurer, G.M. Allen & Son, Inc.
Edward R. Dysart
President, Dysart Transportation Services, Inc. William T. Gardner
President, William T. Gardner & Sons, Inc. Rendle A. Jones, Esq.
Attorney & Partner - Harmon, Jones & Sanford C. Charles Lumbert
President, Moose River Lumber Co., Inc.
Keith C. Patten
President & CEO, Camden National Corporation Chairman, Camden National Bank
Carroll R. Pickard
President, Pleasant Hill Diversities
LaJune S. Means
Private Investor, Director Emeritus

Bank Administration of United Bank

Bruce D. Bartlett
President, Treasurer & CEO
James M. Kimball
Vice President & Senior Loan Officer
Paul R. Flynn
Vice President & Branch Administrator
Lori L. Martin
Vice President & Operations Officer
Daniel A. Kelley
Assistant Vice President & Loan Officer
Ronald W. Taplin
Loan Officer
Robert N. Cross
Business Development Officer
Branch Administration of United Bank

Brent A. Folster
Vice President & Manager, Bangor Office
Joseph E. Hackett
Vice President & Manager, Greenville Office Linda J. Colbath
Manager, Corinth Office
William J. Crawford, III
Manager, Dover-Foxcroft Office
Michael A. Durgin
Manager, Hampden & Winterport Offices
Darcel S. Bryant
Manager, Hermon Office
Marilyn J. Chalker
Manager, Jackman Office
Linda K. Russell
Manager, Milo Office

Directors of
Trust Company of Maine, Inc.

Andrew P. Averill
Chairman, President & CEO
R. Paul Pasquine
Executive Vice President, COO &
Senior Trust Officer
Bruce D. Bartlett
President, Treasurer & CEO, United Bank
Randall A. Bishop
Chief Financial Officer
William T. Gardner & Sons, Inc.

Robert W. Daigle
President & CEO, Camden National Bank
Shirley B. Kile
Executive Vice President & Treasurer
Richard N. Simoneau, C.P.A.
Tax Partner, Simoneau & Norton, P.A.

Officers Trust Company of Maine, Inc.

Andrew P. Averill
Chairman, President & CEO
R. Paul Pasquine
Executive Vice President, COO &
Senior Trust Officer
Shirley B. Kile
Executive Vice President & Treasurer
Lynn M. Bowden
Vice President & Trust Officer
Susan L. Kenney
Assistant Vice President & Trust Officer Robert M. Parker, Jr.
Assistant Vice President &Trust Officer

[Page 44]

Generations Gold Emblem Generations Gold Family...

Picture of family of eight on frozen pond with a sled and ice fishing equipment
(picture size - 4.0" wide x 3.5" tall)

Thank You to the McFarlands

The McFarland family has been banking with Camden National for over 50 years. Murial McFarland, a retired nursery school teacher, recalls, "Camden National helped us finance our first house, our first car, and everything since." Sheila McFarland was employed at Camden National Bank for 20 years. She retired from her position as customer service officer in 1997. Sheila's husband, Paul Jr., is general manager of O'Hara Corporation in Rockland. Paul III is the ice plant manager at O'Hara and his wife Deborah is a registered nurse at Penobscot Bay Medical Center in Rockport. The youngest generation of McFarlands, Owen, Tyler and Caleb, like to play sports and are learning the joys of saving with the help of three Penny's Piggy Bank accounts.

The following information is in a box and the annual meeting information is bolded:

Annual Meeting, Camden National Corporation - Tuesday, May 4, 1999, 3:30p.m.

The Company will provide, without charge, upon written request, a copy of Camden National Corporation's Annual Report to the Securities and Exchange Commission, Form 10K for the 1998 fiscal year.

Please contact:
Susan M. Westfall - Camden National Corporation - P.O. Box 310 - Camden, Maine 04843 - 207-236-8821

Camden National Corporation logo Camden National Corporation

Under the outlined box are the following credits:

Credits

Benjamin Magro, Photography - Peggy Mason Graphics, Design & typesetting

Back cover

At the bottom of the page is the following:

Camden National Corporation logo Camden National Corporation

Picture of Camden National Bank's Main Office (Camden, ME) (picture size - 2.25" wide x 1.75" tall) 2 Elm Street - P.O. Box 310 - Camden, Maine 04843-0310 - 207-236-8821

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