Exhibit 99.1

            Camden National Corporation Increases Dividend

    CAMDEN, Maine--(BUSINESS WIRE)--Dec. 30, 2003--Robert W. Daigle,
President and Chief Executive Officer of Camden National Corporation
(the "Company") (Amex: CAC), announced that the Board of Directors of
the Company has approved its second dividend increase in the past
year. The Board of Directors declared a $0.20 per share dividend
payable on January 31, 2004 for shareholders of record on January 15,
2004. The dividend represents a $0.01, or 5.26% increase from the
previous quarter's dividend, and a $0.03, or 17.65% increase from a
year ago.
    "The dividend increase to our shareholders in 2003 represents a
means to improve total return on their investment in Camden National
Corporation, especially with this year's favorable changes in the tax
treatment of dividends," Daigle said in his announcement. "At the
close of yesterday's trading, Camden National Corporation stock had
appreciated over 27% since the beginning of the year, an indication
that investors are attracted to our brand of service excellence and
strategies to achieve sustainable, long-term growth, which we intend
to continue in 2004," concluded Daigle.
    Camden National Corporation, headquartered in Camden, Maine, and
listed on the American Stock Exchange 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 Mid-coast, Kennebunk and Portland,
Maine, and online at www.camdennational.com, and recipient of the
Governor's Award for Business Excellence in 2002; UnitedKingfield Bank
(UKB), a full-service community bank with 16 offices serving central,
eastern and western Maine and online at www.unitedkingfield.com; and
Acadia Trust, N.A., offering investment management and fiduciary
services with offices in Portland and Bangor, Maine and online at
www.acadiatrust.com. In addition, Acadia Financial Consultants
operates as a division of CNB and UKB, to offer 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.


    CONTACT: Camden National Corporation
             Suzanne Brightbill, 207-230-2120
             sbrightbill@camdennational.com