CNC Receives Approval for One Bank

CAMDEN NATIONAL CORPORATION ANNOUNCES REGULATORYAPPROVAL OF PLAN TO COMBINE BANKING SUBSIDIARIES - 4/19/2006

April 19, 2006, Camden, Maine: Robert W. Daigle, President and Chief Executive Officer of Camden National Corporation (AMEX: CAC; the "Company"), announced today that the Company had received approval from the Office of the Comptroller of the Currency to combine its two banking subsidiaries, Camden National Bank and UnitedKingfield Bank, under the Camden National Bank name.

On January 12, 2006, Camden National Corporation announced its plan to combine its two banking subsidiaries as part of an effort to streamline its regulatory process and enhance customer service. "UnitedKingfield Bank has been part of the Camden National family since the acquisition of United Bank in 1995 and Kingfield Savings Bank in 1999," Daigle said, "which has given us the time to create a strong culture throughout our Company as well as define ourselves in each of our communities."

"We are pleased that we were able to gain regulatory approval this early in the process," noted Gregory A. Dufour, President and Chief Executive Officer of Camden National Bank, "which will allow us to focus on the many different project tasks that will culminate in the official combination of the two banks on or about October 1, 2006." Dufour explained that regulatory approval is one of the many milestones in the course of this project that the Company is undertaking as part of the combination effort. Dufour indicated, "We expect to change our signs and begin operating as one combined bank in early October 2006, when all of our customers will be able to enjoy banking at any of our 27 locations."

Dufour also stated, "We are working towards fulfilling our commitment that there will be no job losses or branch closings at the two banks, and that personnel in the branches and lending staffs will remain the same."

"In today’s rapidly changing banking environment remaining an independent Maine-based company, as we have for more than 130 years, requires that we efficiently support our strategic growth objectives, while at the same time deepening ties to our customers and the communities we serve," concluded Daigle. "Our goal is simple. Once the transition to one bank is complete, you'll see the same employees giving great customer service in the form of The Camden National Bank Experience."

Camden National Corporation traces its roots to the founding of Camden National Bank in 1875. In 1995 Camden National Corporation acquired United Bank in Bangor, Maine. Kingfield Savings Bank was acquired in late 1999 and in 2000 was joined to create UnitedKingfield Bank. Once the transition to the Camden National Bank name is complete, the Bank will consist of 27 branches and 28 ATMs. The transition to one bank is expected to be completed in the second half of 2006; one-time expenses of less than $500,000 are expected to be incurred in 2006 and the transition will be accretive to earnings in 2007.

Camden National Corporation, headquartered in Camden, Maine, and listed on the American Stock Exchange, the Russell 3000® and the Russell 2000® under the symbol CAC, is the holding company for a family of three financial services companies, including: Camden National Bank (CNB), a full-service community bank with 12 banking offices serving Midcoast, Kennebunk and Portland Maine, and recipient of the Governor's Award for Business Excellence in 2002; UnitedKingfield Bank (UKB), a full-service community bank with 15 offices serving Central, Eastern and Western Maine; Acadia Trust, N.A., offering investment management and fiduciary services with offices in Portland and Bangor. Acadia Financial Consultants is a division of CNB and UKB, offering full-service brokerage services.

This press release and the documents incorporated by reference herein contain certain statements that may be considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "will," "should," and other expressions which predict or indicate future events or trends and which do not relate to historical matters. Forward-looking statements should not be relied on, because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of the Company. These risks, uncertainties and other factors may cause the actual results, performance or achievements of the Company to be materially different from the anticipated future results, performance or achievements expressed or implied by the forward-looking statements.

Some of the factors that might cause these differences include the following: changes in general, national or regional economic conditions; changes in loan default and charge-off rates; reductions in deposit levels necessitating increased borrowing to fund loans and investments; changes in interest rates; changes in laws and regulations; changes in the size and nature of the Company's competition; and changes in the assumptions used in making such forward-looking statements. Other factors could also cause these differences. For more information about these factors please see our Annual Report on Form 10K on file with the SEC. All of these factors should be carefully reviewed, and readers should not place undue reliance on these forward-looking statements.

These forward-looking statements were based on information, plans and estimates at the date of this press release, and the Company does not promise to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.

Contact:

Suzanne Brightbill, Public Relations Officer

Camden National Corporation

207.230.2120 or sbrightbill@camdennational.com