Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (the “Company” or “BPFH”) today announced that it has repurchased all of the 5.44 million warrants held by affiliates of The Carlyle Group, and BPFH Director John Morton III. The Company repurchased the warrants for a total cash consideration of $15.0 million. “We are pleased to complete this shareholder friendly transaction, as it eliminates the potential dilution of our common stock,” said David J. Kaye, CFO, BPFH. “The Company has been in capital accumulation mode for some time, and this transaction provided a unique opportunity to utilize our excess cash in a transaction beneficial to BPFH and our shareholders.” “This transaction allowed us to return some capital through the sale of an instrument that was particularly exposed to volatile markets and amounted to less than 10% of our overall stake,” said Randal Quarles of The Carlyle Group. ‘”In addition, the transaction results in accretion that benefits all shareholders, of which we remain the largest. We are very pleased with our substantial stake in the Company and with the Company’s long-term prospects.” The Carlyle Group continues to own approximately 7.8 million shares of BPFH common stock and non-voting shares of Preferred Stock which are (subject to certain limitations) convertible into approximately 7.3 million shares of common stock. The transaction was closed as of February 28, 2012. The $15.0 million tangible capital reduction is expected to be partially offset by the Company’s pending sale of Davidson Trust Company. The sale of Davidson Trust Company is expected to close in the second quarter of 2012. Boston Private Financial Holdings Boston Private Financial Holdings, Inc. is a national financial services organization with Wealth Management and Private Banking affiliates in Boston, New York, Philadelphia, Los Angeles, San Francisco and Seattle. The Company has a $6 billion Private Banking balance sheet, and manages over $19 billion of client assets.