13F-HR 1 a13f0304.txt FILING FORM 13F COVER PAGE SECURITIES AND EXCHANGE COMMISSION FORM 13-F (13F-HR) CHITTENDEN CORPORATION ATTN MIKE GAUDING - TURST OPERATIONS 2 BURLINGTON SQUARE BURLINGTON VT 05401 SIGNATURE: JERRY CONDON NAME: JERRY CONDON TITLE: CHIEF INVESTMENT OFFICER PHONE: 802 660-1325 FORM 13F SUMMARY PAGE SECURITY AND EXCHANGE COMMISSION FORM 13-F (13F-HR) CHITTENDEN TRUST COMPANY - 1 BANK OF WESTERN MASSACHUSETTS - 2 FLAGSHIP BANK AND TRUST COMPANY - 3 MAINE BANK & TRUST - 4 OCEAN NATIONAL BANK - 5 FORM 13F INFORMATIONAL TABLE

CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 1 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) ABM INDS INC COM 000957100 50 2895 SH DEFINED 2895 0 0 AGL RESOURCES INC 001204106 12 430 SH DEFINED 430 0 0 AES CORP COM 00130H105 3 400 SH DEFINED 0 0 400 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 2 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) AT&T CORP NEW COM 001957505 7 354 SH DEFINED 354 0 0 AT&T WIRELESS SVCS INC 00209A106 1 240 SH DEFINED 240 0 0 ABBOTT LABS 002824100 885 19002 SH X 1 18392 610 ABBOTT LABS 002824100 687 14751 SH X X 1 13651 1100 ABBOTT LABS COM 002824100 1216 26107 SH DEFINED 18157 6350 1600 AEGON N V ORD AMER REG 007924103 2 186 SH DEFINED 186 0 0 AETNA INC NEW COM 00817Y108 5 80 SH DEFINED 80 0 0 AGERE SYS INC CL B 00845V209 0 5 SH DEFINED 5 0 0 AIR PRODUCTS & CHEMICALS INC 009158106 282 5346 SH X 1 5346 AIR PRODS & CHEMS INC COM 009158106 278 5275 SH DEFINED 3765 235 1275 ALBERTO-CULVER CO CL B CONV 013068101 3329 52780 SH DEFINED 44675 6280 1825 ALBERTSONS INC COM 013104104 5 250 SH DEFINED 250 0 0 ALCOA INC 013817101 6324 166420 SH X 1 159980 1330 5110 ALCOA INC 013817101 554 14575 SH X X 1 3475 1100 ALCOA INC COM 013817101 36 968 SH DEFINED 268 0 700 ALLEGHENY ENERGY INC COM 017361106 2 200 SH DEFINED 200 0 0 ALLMERICA FINL CORP COM 019754100 57 1857 SH DEFINED 570 1287 0 ALLTEL CORP COM 020039103 123 2649 SH DEFINED 1984 490 175 ALTRIA GROUP INC 02209S103 1302 23933 SH X 1 23933 ALTRIA GROUP INC 02209S103 216 3975 SH X X 1 3150 825 ALTRIA GROUP INC COM 02209S103 155 2850 SH DEFINED 1650 0 1200 AMEREN CORP COM 023608102 16 350 SH DEFINED 350 0 0 AMERICAN ELEC PWR INC COM 025537101 22 742 SH DEFINED 742 0 0 AMERICAN EXPRESS CO 025816109 319 6614 SH X 1 6614 AMERICAN EXPRESS CO 025816109 203 4206 SH X X 1 2406 1800 AMERICAN EXPRESS CO COM 025816109 523 10857 SH DEFINED 10662 0 195 AMERICAN INTERNATIONAL GROUP 026874107 12609 190234 SH X 1 178442 4447 7345 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 3 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) AMERICAN INTERNATIONAL GROUP 026874107 1302 19651 SH X X 1 17917 934 800 AMERICAN INTL GROUP INC COM 026874107 6409 96723 SH DEFINED 72750 11199 12774 AMERICAN ITALIAN PASTA CL A 027070101 606 14485 SH DEFINED 10740 100 3645 AMGEN INC 031162100 6457 104501 SH X 1 100778 773 2950 AMGEN INC 031162100 607 9830 SH X X 1 8810 725 295 AMGEN INC COM 031162100 3241 52463 SH DEFINED 43425 5670 3368 AMSOUTH BANCORPORATION 032165102 6 280 SH DEFINED 280 0 0 ANALOG DEVICES INC 032654105 411 9000 SH X X 1 9000 ANALOG DEVICES INC COM 032654105 634 13905 SH DEFINED 10990 560 2355 ANHEUSER BUSCH COS INC COM 035229103 843 16020 SH DEFINED 9340 5270 1410 APPLIED MATERIALS INC 038222105 240 10700 SH X 1 10700 APPLIED MATERIALS INC 038222105 215 9600 SH X X 1 9600 APPLIED MATLS INC COM 038222105 42 1900 SH DEFINED 1900 0 0 ARCH CHEMICALS INC COM 03937R102 51 2000 SH DEFINED 2000 0 0 ARCH COAL INC COM 039380100 4 142 SH DEFINED 0 0 142 ARROW FINANCIAL CORP 042744102 410 14784 SH X 1 14784 ARROW FINANCIAL CORP 042744102 1045 37629 SH X X 1 37629 ASHLAND INC COM 044204105 3 90 SH DEFINED 0 0 90 ASPECT COMMUNICATIONS CORP 04523Q102 15 1000 SH DEFINED 1000 0 0 AUTODESK INC 052769106 24 1000 SH DEFINED 1000 0 0 AUTOMATIC DATA PROCESSING 053015103 7378 186261 SH X 1 179289 2357 4615 AUTOMATIC DATA PROCESSING 053015103 889 22438 SH X X 1 20317 2121 AUTOMATIC DATA PROCESSING 053015103 4733 119505 SH DEFINED 91341 16525 11639 AVALONBAY CMNTYS INC 053484101 62 1310 SH DEFINED 1310 0 0 AVAYA INC COM 053499109 0 1 SH DEFINED 1 0 0 AVERY DENNISON CORP COM 053611109 2277 40649 SH DEFINED 37021 600 3028 AVON PRODS INC COM 054303102 47 700 SH DEFINED 0 0 700 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 4 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) BB&T CORP 054937107 294 7617 SH X X 1 7617 BB&T CORP COM 054937107 749 19395 SH DEFINED 10935 5880 2580 BP PLC SPONSORED ADR 055622104 1210 24517 SH X 1 23533 984 BP PLC SPONSORED ADR 055622104 693 14037 SH X X 1 11362 1691 984 BP P L C SPONS ADR 055622104 1356 27503 SH DEFINED 20337 3236 3930 BALDOR ELEC CO COM 057741100 39 1723 SH DEFINED 1723 0 0 BANK AMERICA CORP 060505104 653 8120 SH X 1 8120 BANK AMERICA CORP 060505104 200 2485 SH X X 1 2485 BANK OF AMERICA CORPORATION 060505104 295 3674 SH DEFINED 399 0 3275 BANK NEW YORK INC COM 064057102 1247 37694 SH DEFINED 32046 1525 4123 BANK ONE CORP 06423A103 59 1289 SH X 1 1289 BANK ONE CORP 06423A103 325 7139 SH X X 1 7139 BANK ONE CORP COM 06423A103 476 10452 SH DEFINED 332 120 10000 BANKNORTH GROUP INC NEW 06646R107 837 25725 SH X 1 16715 9010 BANKNORTH GROUP INC NEW 06646R107 254 7805 SH X X 1 5573 2232 BANKNORTH GROUP INC NEW 06646R107 93 2870 SH DEFINED 570 0 2300 BARD C R INC COM 067383109 32 400 SH DEFINED 0 0 400 BAXTER INTL INC COM 071813109 88 2900 SH DEFINED 2660 240 0 BECTON DICKINSON & CO COM 075887109 2741 66661 SH DEFINED 56590 8371 1700 BED BATH & BEYOND INC COM 075896100 64 1495 SH DEFINED 790 0 705 BELLSOUTH CORP 079860102 1480 52299 SH X 1 50499 1800 BELLSOUTH CORP 079860102 562 19865 SH X X 1 16189 3676 BELLSOUTH CORP COM 079860102 634 22425 SH DEFINED 13733 6512 2180 BERKSHIRE HATHAWAY 084670108 253 3 SH X 1 3 BERKSHIRE HATHAWAY CL A 084670108 1011 12 SH DEFINED 6 0 6 BERKSHIRE HATHAWAY CLASS B 084670207 332 118 SH X 1 97 21 BERKSHIRE HATHAWAY CLASS B 084670207 39 14 SH X X 1 14 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 5 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) BERKSHIRE HATHAWAY INC CL B 084670207 563 200 SH DEFINED 100 0 100 BEST BUY CO 086516101 4444 85069 SH X 1 81615 590 2864 BEST BUY CO 086516101 257 4919 SH X X 1 4194 725 BEST BUY INC COM 086516101 9 175 SH DEFINED 175 0 0 BIOMET INC 090613100 4908 135509 SH X 1 129429 1385 4695 BIOMET INC 090613100 321 8863 SH X X 1 7508 855 500 BIOMET INC COM 090613100 592 16350 SH DEFINED 12170 150 4030 BIOGEN IDEC INC COM 09062X103 14 400 SH DEFINED 400 0 0 BLACK HILLS CORP 092113109 25 842 SH DEFINED 842 0 0 BLACKROCK INC 09247X101 18 350 SH DEFINED 350 0 0 BOEING CO 097023105 72 1714 SH X 1 1714 BOEING CO 097023105 610 14478 SH X X 1 350 14128 BOEING CO COM 097023105 101 2400 SH DEFINED 1300 0 1100 BOSTON PROPERTIES INC 101121101 79 1652 SH DEFINED 1652 0 0 BRISTOL MYERS SQUIBB CO 110122108 684 23931 SH X 1 23931 BRISTOL MYERS SQUIBB CO 110122108 274 9583 SH X X 1 7283 300 2000 BRISTOL MYERS SQUIBB CO 110122108 938 32836 SH DEFINED 20488 1415 10933 BURLINGTON NORTHERN SANTA FE 12189T104 169 5215 SH X 1 3915 1300 BURLINGTON NORTHERN SANTA FE 12189T104 178 5512 SH X X 1 1012 4500 BURLINGTON NORTHN SANTE FE 12189T104 41 1287 SH DEFINED 900 0 387 CCBT FINL COS INC COM 12500Q102 6 200 SH DEFINED 200 0 0 CIGNA CORP COM 125509109 140 2452 SH DEFINED 2152 300 0 CVS CORP COM 126650100 193 5346 SH DEFINED 4536 160 650 CADBURY SCHWEPPES PLC ADR 127209302 14 500 SH DEFINED 500 0 0 CALPINE CORP COM 131347106 1 240 SH DEFINED 140 0 100 CAMDEN NATL CORP COM 133034108 16 550 SH DEFINED 450 0 100 CARDINAL HEALTH INC 14149Y108 6847 111949 SH X 1 107127 957 3865 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 6 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) CARDINAL HEALTH INC 14149Y108 526 8605 SH X X 1 6990 715 900 CARDINAL HEALTH INC COM 14149Y108 4107 67179 SH DEFINED 5194 5963 6022 CATERPILLAR INC 149123101 1000 12050 SH X 1 12000 50 CATERPILLAR INC 149123101 8 100 SH X X 1 100 CENDANT CORP COM 151313103 1646 73935 SH DEFINED 65975 2105 5855 CENTERPOINT ENERGY INC 15189T107 7 750 SH DEFINED 750 0 0 CENTRAL FINANCIAL CORP 153472105 3180 36240 SH X 1 36240 CENTRIX BANK & TRUST 15640A101 327 18500 SH X 1 18500 CERTEGY INC 156880106 19 585 SH X 1 585 CERTEGY INC 156880106 857 26143 SH X X 1 26143 CHAMPLAIN BANK CORP COM 15871P108 265 690 SH X 1 690 CHEVRONTEXACO CORP 166764100 7999 92588 SH X 1 89453 705 2430 CHEVRONTEXACO CORP 166764100 930 10764 SH X X 1 10309 455 CHEVRONTEXACO CORP COM 166764100 2555 29582 SH DEFINED 24639 3670 1273 CHITTENDEN CORP 170228100 7087 210662 SH X 1 174176 25000 11486 CHITTENDEN CORP 170228100 2144 63724 SH X X 1 43734 328 19662 CHITTENDEN CORP COM 170228100 3 100 SH DEFINED 0 0 100 CHOICEPOINT INC 170388102 937 24596 SH X X 1 24596 CHUBB CORP COM 171232101 9 140 SH DEFINED 100 40 0 CISCO SYSTEMS INC 17275R102 6802 280735 SH X 1 269270 3515 7950 CISCO SYSTEMS INC 17275R102 1091 45037 SH X X 1 42263 1974 800 CISCO SYS INC COM 17275R102 1373 56698 SH DEFINED 34349 5845 16504 CINTAS CORP COM 172908105 1048 20940 SH DEFINED 11615 8285 1040 CITIGROUP INC 172967101 11871 244552 SH X 1 232788 2095 9669 CITIGROUP INC 172967101 1885 38838 SH X X 1 30438 8400 CITIGROUP INC COM 172967101 1320 27195 SH DEFINED 25932 1000 263 COBBLE HILL HOLDINGS CL B 19088P208 755 75455 SH X X 1 75455 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 7 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) COCA COLA CO 191216100 2577 50772 SH X 1 50772 COCA COLA CO 191216100 384 7558 SH X X 1 7558 COCA-COLA CO COM 191216100 1397 27533 SH DEFINED 16902 5169 5462 COLGATE PALMOLIVE CO 194162103 1161 23192 SH X 1 23192 COLGATE PALMOLIVE CO 194162103 60 1199 SH X X 1 1199 COLGATE PALMOLIVE CO COM 194162103 214 4286 SH DEFINED 950 2300 1036 COMCAST CORP CL A COM 20030N101 30 923 SH DEFINED 779 144 0 COMERICA INC COM 200340107 168 3000 SH DEFINED 3000 0 0 COMMUNITY SERVICE TELEPHONE 20404P203 20 13250 SH X 1 13250 CONAGRA FOODS INC COM 205887102 158 6020 SH DEFINED 5770 250 0 CONSOLIDATED EDISON INC COM 209115104 87 2042 SH DEFINED 2042 0 0 CORNING INC COM 219350105 15 1500 SH DEFINED 0 1500 0 COSTCO WHOLESALE CORPORATION 22160K105 11 300 SH DEFINED 300 0 0 DTE ENERGY CO COM 233331107 259 6600 SH DEFINED 3600 0 3000 DANAHER CORP 235851102 9814 106963 SH X 1 102110 1748 3105 DANAHER CORP 235851102 1073 11690 SH X X 1 10500 940 250 DANAHER CORPORATION COM 235851102 18 200 SH DEFINED 200 0 0 DEAN FOODS CO NEW COM 242370104 736 22403 SH DEFINED 18291 685 3427 DEERE & CO COM 244199105 39 600 SH DEFINED 0 600 0 DELL INC COM 24702R101 132 3905 SH DEFINED 1970 0 1935 DELPHI CORPORATION 247126105 6 629 SH DEFINED 0 629 0 DENTSPLY INTL INC NEW COM 249030107 322 7152 SH DEFINED 6332 0 820 DIEBOLD INC COM 253651103 974 18098 SH DEFINED 16098 175 1825 DISNEY WALT CO COM 254687106 105 4543 SH DEFINED 3437 0 1106 DOLLAR GEN CORP COM 256669102 1209 57657 SH DEFINED 43414 5682 8561 DOMINION RES INC VA NEW 25746U109 5141 80536 SH X 1 77626 670 2240 DOMINION RES INC VA NEW 25746U109 436 6836 SH X X 1 6001 635 200 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 8 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) DOMINION RES INC VA NEW COM 25746U109 196 3077 SH DEFINED 2310 0 767 DONNELLEY R R & SONS CO COM 257867101 25 835 SH DEFINED 835 0 0 DOVER CORP COM 260003108 182 4595 SH DEFINED 1145 2800 650 DOW CHEMICAL CO 260543103 723 17398 SH X 1 16898 500 DOW CHEMICAL CO 260543103 115 2775 SH X X 1 2775 DOW CHEM CO COM 260543103 356 8580 SH DEFINED 7680 900 0 DUPONT E I DE NEMOURS & CO 263534109 1321 28780 SH X 1 28780 DUPONT E I DE NEMOURS & CO 263534109 308 6707 SH X X 1 6335 372 DU PONT E I DE NEMOURS & CO 263534109 656 14310 SH DEFINED 13570 530 210 DUKE ENERGY CORP COM 264399106 137 6736 SH DEFINED 6654 0 82 DUKE REALTY CORPORATION 264411505 2 75 SH DEFINED 75 0 0 EMC CORP 268648102 4805 371892 SH X 1 359007 3135 9750 EMC CORP 268648102 310 24023 SH X X 1 19673 2850 1500 E M C CORP MASS COM 268648102 33 2560 SH DEFINED 560 0 2000 EASTMAN KODAK CO COM 277461109 2 82 SH DEFINED 82 0 0 ECOLAB INC COM 278865100 2826 103326 SH DEFINED 84170 13316 5840 EDO CORP COM 281347104 27 1103 SH DEFINED 1103 0 0 EL PASO CORP COM 28336L109 4 575 SH DEFINED 0 0 575 ELAN PLC ADR 284131208 8 1300 SH DEFINED 1000 0 300 ELECTRONIC DATA SYS NEW COM 285661104 335 13670 SH DEFINED 13670 0 0 EMERSON ELECTRIC CO 291011104 389 6013 SH X 1 6013 EMERSON ELECTRIC CO 291011104 198 3065 SH X X 1 2165 900 EMERSON ELEC CO COM 291011104 3238 50010 SH DEFINED 40730 6485 2795 ENERGEN CORP COM 29265N108 160 3920 SH DEFINED 2320 1600 0 ENERGY EAST CORP 29266M109 347 15510 SH X 1 15510 ENERGY EAST CORP 29266M109 165 7374 SH X X 1 7374 ENTRAVISION COMM CORP CL A 29382R107 222 20000 SH X 1 20000 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 9 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) EQUIFAX INC 294429105 29 1171 SH X 1 1171 EQUIFAX INC 294429105 1159 47326 SH X X 1 47326 EQUIFAX INC COM 294429105 108 4440 SH DEFINED 4440 0 0 EXELON CORP 30161N101 5545 83556 SH X 1 80511 655 2390 EXELON CORP 30161N101 484 7290 SH X X 1 6530 410 350 EXELON CORP COM 30161N101 38 587 SH DEFINED 587 0 0 EXELIXIS INC COM 30161Q104 0 50 SH DEFINED 0 50 0 EXXON MOBIL CORP 30231G102 21552 525664 SH X 1 514539 3435 7690 EXXON MOBIL CORP 30231G102 4539 110702 SH X X 1 89115 18087 3500 EXXON MOBIL CORP COM 30231G102 7467 182142 SH DEFINED 128610 23380 30152 FPL GROUP INC 302571104 311 4760 SH X 1 4360 400 FPL GROUP INC 302571104 123 1875 SH X X 1 1875 FPL GROUP INC COM 302571104 55 850 SH DEFINED 550 300 0 FAIRCHILD SEMICONDUCTOR INTL 303726103 32 1320 SH DEFINED 1320 0 0 FAMILY DLR STORES INC COM 307000109 600 16730 SH DEFINED 14685 685 1360 FEDERAL HOME LN MTG CORP 313400301 39 675 SH DEFINED 675 0 0 FANNIE MAE 313586109 12284 163656 SH X 1 158051 1310 4295 FANNIE MAE 313586109 1197 15942 SH X X 1 15002 940 FANNIE MAE COM 313586109 5511 73426 SH DEFINED 59364 7695 6367 FIRST BRANDON NATIONAL BANK 319351102 2726 160350 SH X X 1 160350 FIRST CMNTY BANCSHARES INC 31983A103 43 1323 SH DEFINED 0 1323 0 FIRST DATA CORP 319963104 9598 233578 SH X 1 223638 1850 8090 FIRST DATA CORP 319963104 716 17414 SH X X 1 15519 1495 400 FIRST DATA CORP COM 319963104 2367 57606 SH DEFINED 46390 7080 4136 FIRST NATIONAL LINCOLN CORP 335716106 432 8668 SH DEFINED 1568 3100 4000 FLEETBOSTON FINANCIAL CORP 339030108 585 13402 SH X 1 13402 FLEETBOSTON FINANCIAL CORP 339030108 54 1248 SH X X 1 1248 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 10 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) FLEETBOSTON FINL CORP COM 339030108 291 6686 SH DEFINED 6686 0 0 FORD MTR CO DEL PAR $0.01 345370860 19 1222 SH DEFINED 1222 0 0 FORD MOTOR TR II CONV PFD 345395206 16 300 SH DEFINED 300 0 0 FOREST LABS INC 345838106 5960 96438 SH X 1 92393 765 3280 FOREST LABS INC 345838106 373 6040 SH X X 1 5,250 790 FOREST LABORATORIES INC COM 345838106 1346 21785 SH DEFINED 20600 0 1185 FORTUNE BRANDS INC COM 349631101 637 8915 SH DEFINED 8245 340 330 FREEPORT-MCMORAN COP & GOCL B 35671D857 131 3117 SH DEFINED 0 0 3117 FULTON FINL CORP PA COM 360271100 162 7410 SH DEFINED 7410 0 0 GATX CORP COM 361448103 41 1480 SH DEFINED 980 500 0 GANNETT INC 364730101 15011 168358 SH X 1 157087 810 10461 GANNETT INC 364730101 3301 37026 SH X X 1 35906 1120 GANNETT INC COM 364730101 4999 56077 SH DEFINED 49399 2665 4013 GENERAL DYNAMICS CORP 369550108 207 2300 SH DEFINED 2000 0 300 GENERAL ELECTRIC 369604103 22915 739667 SH X 1 714187 5280 20200 GENERAL ELECTRIC 369604103 5009 161672 SH X X 1 122869 34903 3900 GENERAL ELEC CO COM 369604103 8074 260719 SH DEFINED 189067 27782 43870 GENERAL MLS INC COM 370334104 452 9985 SH DEFINED 5100 2485 2400 GENERAL MOTORS CORP 370442105 415 7766 SH X 1 7766 GENERAL MOTORS CORP 370442105 124 2330 SH X X 1 1954 376 GENERAL MTRS CORP COM 370442105 48 900 SH DEFINED 0 900 0 GENTEX CORP COM 371901109 1713 38810 SH DEFINED 24982 9680 4148 GENUINE PARTS CO COM 372460105 1491 44916 SH DEFINED 33567 9534 1815 GILLETTE CO 375766102 98 2676 SH X 1 2476 200 GILLETTE CO 375766102 315 8589 SH X X 1 6089 1000 1500 GILLETTE CO COM 375766102 73 2000 SH DEFINED 2000 0 0 GLAXOSMITHKLINE PLC SPONS ADR 37733W105 63 1365 SH DEFINED 910 0 455 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13-F PAGE 11 ASSETTS AS OF 12/31/03 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT/ SOLE SHR OTHER SOLE SHARED NONE ISSUER AND TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL (A) (B) (C) MANAGERS (A) (B) (C) GOLDEN WEST FINANCIAL CORP 381317106 0 3 SH DEFINED 3 0 0 GREAT WEST LIFECO INC 39138C106 345 7577 SH X X 1 7577 HALLIBURTON CO COM 406216101 20 800 SH DEFINED 0 800 0 HARLEY-DAVIDSON INC 412822108 326 6868 SH X 1 5408 800 660 HARLEY-DAVIDSON INC 412822108 286 6025 SH X X 1 5525 500 HARMONIC INC 413160102 1 200 SH DEFINED 200 0 0 HARRIS CORP DEL COM 413875105 75 2000 SH DEFINED 2000 0 0 HARSCO CORP COM 415864107 9 220 SH DEFINED 220 0 0 HAWAIIAN ELEC INDUSTRIES COM 419870100 4 100 SH DEFINED 100 0 0 HEINZ H.J. CO 423074103 203 5585 SH X 1 5585 HEINZ H.J. 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