FORM 5 OMB APPROVAL |_|Check box if no longer OMB Number: 3235-0362 subject to Section 16. Form 4 or Expires: January 31, 2005 Form 5 obligations may continue. Estimated average burden See Instruction 1(b). hours per response...1.0 |_|Form 3 Holdings Reported |_|Form 4 Transactions Reported -------------------------------- -------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 ----------------------------------------- -------------------------------------------- --------------------------------------- 1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) Paskowski Peter Slade's Ferry Bancorp (SFBC) [X] Director [ ] 10% Owner [ ] Officer (give title below) ----------------------------------------- ------------------- ---------------------- [ ] Other (specify below) (Last) (First) (Middle) 3. I.R.S. Identi- 4. Statement for _____________________________ fication Number Month/Year --------------------------------------- 409 Mount Hope Road of Reporting 12/2002 7. Individual or Joint/Group Reporting ----------------------------------------- Person, if an ---------------------- (check applicable line) (Street) entity 5. If Amendment, [ ] Form filed by One Reporting Person (Voluntary) Date of Original [ ] Form filed by More than One (Month/Year) Reporting Person Somerset MA 02726 ###-##-#### ----------------------------------------- ------------------- ---------------------- --------------------------------------- (City) (State) (Zip)

* If the form is filed by more than one reporting person, see instruction 4(b)(v). SEC 2270 (7/02) Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control nummber. 1 FORM 5 (continued)

Explanation of Responses: A. Incentive Stock Option Plan /s/ Peter Paskowski 02/01/03 _________________________________ _______________ ** Signature of Reporting Person Date By authorized signator: /s/ Isola A. Anctil _________________________________ ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. 2

PASKOWSKI PETER 5