13F-HR 1 ptr2891207.txt FILING FORM 13F COVER PAGE SECURITIES AND EXCHANGE COMMISSION FORM 13-F (13F-HR) CHITTENDEN CORPORATION ATTN MIKE GAUDING - TRUST OPERATIONS 2 BURLINGTON SQUARE BURLINGTON VT 05401 SIGNATURE: DAVID CHUTE NAME: DAVID CHUTE TITLE: CHIEF INVESTMENT OFFICER PHONE: 802 660-1325 SECURITIES AND EXCHANGE COMMISSION FORM (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 MERRILL MERCHANTS BANK - 6 FORM 13F INFORMATIONAL TABLE

CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 1 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) LUCENT TECHNOLOGIES INC*WTS 549463131 25 45000 SH X 1 45000 ACCO BRANDS CORP COM 00081T108 6 257 SH DEFINED 241 0 16 ABM INDS INC COM 000957100 5 290 SH DEFINED 290 0 0 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 2 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) AFLAC INC COM 001055102 25 550 SH DEFINED 0 0 550 AGL RESOURCES INC COM 001204106 81 2355 SH DEFINED 1935 200 220 AT&T INC COM 00206R102 1086 44357 SH X 1 44357 AT&T INC COM 00206R102 581 23740 SH X 1 17215 6525 AT&T INC COM 00206R102 608 24840 SH DEFINED 14087 5644 5109 ABBOTT LABS COM 002824100 1103 27964 SH X 1 25054 1380 1530 ABBOTT LABS COM 002824100 519 13158 SH X 1 13158 ABBOTT LABS COM 002824100 589 14956 SH DEFINED 12606 620 1730 ADOBE SYS INC COM 00724F101 6148 166352 SH X 1 158287 2108 5957 ADOBE SYS INC COM 00724F101 374 10120 SH X 1 9125 880 115 ADOBE SYSTEMS INC DE COM 00724F101 808 21875 SH DEFINED 20595 400 880 AEGON N V ORD AMER REG 007924103 3 200 SH DEFINED 200 0 0 AETNA INC NEW COM 00817Y108 31 332 SH DEFINED 332 0 0 AFFILIATED COMPUTER SERVICES INC 008190100 46 780 SH DEFINED 0 780 0 AGERE SYS INC COM 00845V308 0 2 SH DEFINED 2 0 0 AIR PRODS & CHEMS INC COM 009158106 168 2844 SH X 1 2844 AIR PRODS & CHEMS INC COM 009158106 32 545 SH X 1 545 AIR PRODS & CHEMS INC COM 009158106 366 6191 SH DEFINED 4791 0 1400 ALBERTO-CULVER CO COM 003068101 492 10769 SH DEFINED 8403 495 1871 ALCOA INC COM 013817101 28 968 SH DEFINED 268 0 700 ALLERGAN INC COM 018490102 29 270 SH DEFINED 270 0 0 ALLSTATE CORP COM 020002101 9164 169491 SH X 1 161430 2176 5885 ALLSTATE CORP COM 020002101 684 12644 SH X 1 11674 875 95 ALLTEL CORP COM 020039103 5239 83034 SH X 1 79388 976 2670 ALLTEL CORP COM 020039103 335 5310 SH X 1 4755 555 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 3 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) ALLTEL CORP COM 020039103 2427 38474 SH DEFINED 31584 5181 1709 ALPHARMA INC CL A 020813101 22 800 SH DEFINED 800 0 0 ALTRIA GROUP INC COM 02209S103 1517 20297 SH X 1 19372 825 100 ALTRIA GROUP INC COM 02209S103 466 6231 SH X 1 5838 393 ALTRIA GROUP INC COM 02209S103 141 1895 SH DEFINED 695 0 1200 AMBAC FINL GROUP INC COM 023139108 11518 149469 SH X 1 141864 2160 5445 AMBAC FINL GROUP INC COM 023139108 806 10465 SH X 1 9380 985 100 AMEREN CORP COM 023608102 17 350 SH DEFINED 350 0 0 AMERICAN ELEC PWR INC COM 025537101 27 742 SH DEFINED 742 0 0 AMERICAN EXPRESS CO COM 025816109 276 5369 SH X 1 5249 120 AMERICAN EXPRESS CO COM 025816109 162 3150 SH X 1 2400 750 AMERICAN EXPRESS CO COM 025816109 417 8107 SH DEFINED 7962 0 145 AMERICAN INTL GROUP INC COM 026874107 412 6034 SH X 1 4559 25 1450 AMERICAN INTL GROUP INC COM 026874107 277 4062 SH X 1 4062 AMERICAN INTL GROUP INC COM 026874107 937 13742 SH DEFINED 4003 4023 5716 AMERICAN SUPERCONDUCTOR CORP COM 030111108 6 832 SH DEFINED 832 0 0 AMERIPRISE FINL INC COM 03076C106 65 1600 SH DEFINED 1591 0 9 AMGEN INC COM 031162100 9375 118876 SH X 1 113745 1341 3790 AMGEN INC COM 031162100 909 11525 SH X 1 9450 1730 345 AMGEN INC COM 031162100 2691 34130 SH DEFINED 26485 4850 2795 AMSOUTH BANCORPORATION COM 032165102 15 595 SH DEFINED 595 0 0 ANADARKO PETE CORP COM 032511107 47 500 SH DEFINED 500 0 0 ANALOG DEVICES INC COM 032654105 92 2570 SH DEFINED 1635 560 375 ANHEUSER BUSCH COS INC COM 035229103 91 2132 SH DEFINED 1892 0 240 APACHE CORP COM 037411105 3180 46422 SH DEFINED 35385 6474 4563 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 4 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) APPLERA CORP - CELERA GENOMICS 038020202 0 45 SH DEFINED 45 0 0 APPLIED MATLS INC COM 038222105 36 2020 SH X 1 1060 960 APPLIED MATLS INC COM 038222105 172 9600 SH X 1 9600 APPLIED MATLS INC COM 038222105 25 1400 SH DEFINED 1400 0 0 AQUA AMERICA INC COM 03836W103 1359 49809 SH DEFINED 39328 6651 3830 ARROW FINL CORP COM 042744102 349 13353 SH X 1 13353 ARROW FINL CORP COM 042744102 569 21762 SH X 1 21762 AUGUSTA RES CORP COM NEW 050912203 14 10000 SH X 1 10000 AUTODESK INC COM 052769106 1910 44498 SH DEFINED 34308 7090 3100 AUTOMATIC DATA PROCESSING IN COM 053015103 8928 194520 SH X 1 185915 2900 5705 AUTOMATIC DATA PROCESSING IN COM 053015103 976 21255 SH X 1 18999 2161 95 AUTOMATIC DATA PROCESSING INC COM 053015103 2395 52195 SH DEFINED 32745 10660 8790 AVALONBAY CMNTYS INC COM 053484101 28 324 SH DEFINED 324 0 0 AVAYA INC COM 053499109 3827 358684 SH X 1 340964 4605 13115 AVAYA INC COM 053499109 254 23763 SH X 1 21438 2110 215 AVAYA INC COM 053499109 0 1 SH DEFINED 1 0 0 AVERY DENNISON CORP COM 053611109 144 2608 SH DEFINED 2433 135 40 AVON PRODS INC COM 054303102 39 1380 SH DEFINED 180 0 1200 BB&T CORP COM 054937107 19 445 SH X 1 445 BB&T CORP COM 054937107 252 6017 SH X 1 6017 BB&T CORP COM 054937107 284 6779 SH DEFINED 4429 0 2350 BJ SVCS CO COM 055482103 8480 231253 SH X 1 221977 2529 6747 BJ SVCS CO COM 055482103 525 14310 SH X 1 11280 1840 1190 B J SERVICES CO COM 055482103 2741 74777 SH DEFINED 57943 11551 5283 BP PLC SPONSORED ADR 055622104 1328 20680 SH X 1 19077 529 1074 BP PLC SPONSORED ADR 055622104 786 12237 SH X 1 10386 867 984 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 5 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) BP P L C SPONS ADR 055622104 1454 22643 SH DEFINED 15912 3036 3695 BALL CORP COM 058498106 70 1763 SH DEFINED 1478 0 285 BANK OF AMERICA CORPORATION COM 060505104 10260 222325 SH X 1 213951 2421 5953 BANK OF AMERICA CORPORATION COM 060505104 1400 30334 SH X 1 25961 4258 115 BANK OF AMERICA CORP COM 060505104 611 13240 SH DEFINED 6784 0 6456 BANK NEW YORK INC COM 064057102 80 2517 SH DEFINED 1982 0 535 BARD C R INC COM 067383109 52 800 SH DEFINED 0 0 800 BAXTER INTL INC COM 071813109 42 1122 SH DEFINED 882 240 0 BECTON DICKINSON & CO COM 075887109 1236 20578 SH DEFINED 17505 903 2170 BED BATH & BEYOND INC COM 075896100 31 865 SH DEFINED 260 0 605 BELLSOUTH CORP COM 079860102 944 34838 SH X 1 32639 769 1430 BELLSOUTH CORP COM 079860102 437 16117 SH X 1 12394 3723 BELLSOUTH CORP COM 079860102 288 10657 SH DEFINED 8125 852 1680 BEMIS INC COM 081437105 63 2289 SH DEFINED 2289 0 0 BERKSHIRE HATHAWAY INC DEL CL A 084670108 531 6 SH DEFINED 0 0 6 BERKSHIRE HATHAWAY INC DEL CL B 084670207 390 133 SH X 1 112 21 BERKSHIRE HATHAWAY INC DEL CL B 084670207 47 16 SH X 1 16 BERKSHIRE HATHAWAY INC DEL CL B 084670207 607 207 SH DEFINED 107 0 100 BEST BUY INC COM 086516101 7499 172464 SH X 1 164000 2161 6303 BEST BUY INC COM 086516101 474 10894 SH X 1 9306 1503 85 BEST BUY INC COM 086516101 1122 25815 SH DEFINED 18664 3775 3376 BHP BILLITON LTD SPONSORED ADR 088606108 1063 31838 SH DEFINED 24665 5895 1278 BIOMET INC COM 090613100 223 6120 SH DEFINED 4130 0 1990 BLACK & DECKER CORP COM 091797100 17 200 SH DEFINED 0 0 200 BLACK HILLS CORP COM 092113109 29 842 SH DEFINED 842 0 0 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 6 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) BOEING CO COM 097023105 116 1657 SH X 1 1607 50 BOEING CO COM 097023105 722 10286 SH X 1 1158 9128 BOEING CO COM 097023105 295 4200 SH DEFINED 3105 245 850 BOSTON PROPERTIES INC COM 101121101 30 416 SH DEFINED 416 0 0 BRISTOL MYERS SQUIBB CO COM 110122108 588 25576 SH X 1 24076 1500 BRISTOL MYERS SQUIBB CO COM 110122108 341 14829 SH X 1 10829 2000 2000 BRISTOL MYERS SQUIBB CO COM 110122108 513 22347 SH DEFINED 10838 1040 10469 BROWN & BROWN INC COM 115236101 3186 104352 SH DEFINED 85410 13444 5498 BURLINGTON NORTHN SANTA FE C COM 12189T104 6218 87801 SH X 1 83937 811 3053 BURLINGTON NORTHN SANTA FE C COM 12189T104 826 11667 SH X 1 6627 540 4500 BURLINGTON NORTHN SANTE FE CORP 12189T104 1951 27561 SH DEFINED 21157 4910 1494 BURLINGTON RES INC COM 122014103 336 3898 SH X 1 3898 BURLINGTON RES INC COM 122014103 322 3736 SH X 1 3736 BURLINGTON RES INC COM 122014103 2734 31720 SH DEFINED 25256 4793 1671 CGI HLDG CORP COM 125318105 23 10000 SH DEFINED 10000 0 0 CIGNA CORP COM 125509109 197 1766 SH X 1 1766 CIGNA CORP COM 125509109 154 1375 SH X 1 1375 CIGNA CORP COM 125509109 234 2100 SH DEFINED 1800 300 0 CIT GROUP INC COM 125581108 1829 35335 SH DEFINED 27175 5855 2305 CVS CORP COM 126650100 292 11071 SH DEFINED 8056 165 2850 CABELAS INC COM 126804301 0 50 SH DEFINED 50 0 0 CADBURY SCHWEPPES PLC ADR 127209302 27 715 SH DEFINED 715 0 0 CAMDEN NATL CORP COM 133034108 18 550 SH DEFINED 450 0 100 CAMECO CORP COM 13321L108 126 2000 SH DEFINED 1500 0 500 CANADIAN NATL RY CO COM 136375102 137 1720 SH DEFINED 1045 0 675 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 7 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) CAREMARK RX INC COM 141705103 18 350 SH DEFINED 350 0 0 CARNIVAL CORP COM 143658300 418 7830 SH DEFINED 7180 420 230 CATERPILLAR INC DEL COM 149123101 1593 27576 SH X 1 27386 190 CATERPILLAR INC DEL COM 149123101 51 880 SH X 1 880 CENDANT CORP COM 151313103 372 21570 SH DEFINED 17215 1455 2900 CENTEX CORPORATION COM 152312104 42 600 SH DEFINED 0 0 600 CENTRAL FINL CORP VT COM 153472105 4711 36240 SH X 1 36240 CERTEGY INC COM 156880106 1096 27030 SH X 1 27030 CERTEGY INC COM 156880106 16 400 SH X 1 400 CHAMPLAIN BANK CORP COM 15871P108 265 690 SH X 1 690 CHEVRON CORP NEW COM 166764100 9965 175526 SH X 1 168819 1634 5073 CHEVRON CORP NEW COM 166764100 1122 19763 SH X 1 18167 1526 70 CHEVRON CORP NEW COM 166764100 1500 26423 SH DEFINED 23431 871 2121 CHICOS FAS INC COM 168615102 6 145 SH DEFINED 145 0 0 CHITTENDENCAP TR I GTD CAP SECS 170221204 506 19700 SH X 1 19700 CHITTENDEN CORP COM 170228100 8330 299526 SH X 1 260657 31250 7619 CHITTENDEN CORP COM 170228100 1776 63844 SH X 1 52555 410 10879 CHITTENDEN CORP COM 170228100 3 125 SH DEFINED 0 0 125 CHOICEPOINT INC COM 170388102 1051 23606 SH X 1 23606 CHUBB CORP COM 171232101 2559 26213 SH DEFINED 20986 3628 1599 CISCO SYS INC COM 17275R102 5714 333756 SH X 1 316070 5524 12162 CISCO SYS INC COM 17275R102 796 46474 SH X 1 42835 2669 970 CISCO SYS INC COM 17275R102 325 19036 SH DEFINED 8530 2670 7836 CINTAS CORP COM 172908105 2 60 SH DEFINED 60 0 0 CITIGROUP INC COM 172967101 13208 272161 SH X 1 258743 3320 10098 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 8 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) CITIGROUP INC COM 172967101 1842 37959 SH X 1 28410 9399 150 CITIGROUP INC COM 172967101 1762 36332 SH DEFINED 33440 1500 1392 CITIGROUP INVSTS CORP LN FD 17307C107 38 3050 SH DEFINED 0 0 3050 CLOROX CO DEL COM 189054109 60 1058 SH DEFINED 1013 0 45 COACH INC COM 189754104 1 35 SH DEFINED 35 0 0 "COBBLE HILL HOLDINGS, INC CL" 19088P208 755 75455 SH X 1 75455 COCA COLA CO COM 191216100 1139 28259 SH X 1 28034 225 COCA COLA CO COM 191216100 1102 27330 SH X 1 21630 5700 COCA-COLA CO COM 191216100 845 20983 SH DEFINED 11192 4399 5392 COGNIZANT TECHNOLOGY SOLUTIONS CORP 192446102 1761 35045 SH DEFINED 27205 5950 1890 COLGATE PALMOLIVE CO COM 194162103 1314 23951 SH X 1 23951 COLGATE PALMOLIVE CO COM 194162103 19 350 SH X 1 350 COLGATE PALMOLIVE CO COM 194162103 1381 25186 SH DEFINED 16501 6545 2140 COMCAST CORP CL A COM 20030N101 26 1035 SH DEFINED 1035 0 0 COMERICA INC COM 200340107 170 3000 SH DEFINED 3000 0 0 COMMUNITY SVC COMMUNICATIONS NEW 20404P203 53 13250 SH X 1 13250 CONAGRA FOODS INC COM 205887102 34 1695 SH DEFINED 1695 0 0 CONOCOPHILLIPS COM 20825C104 178 3064 SH X 1 3064 CONOCOPHILLIPS COM 20825C104 158 2716 SH X 1 1716 1000 CONOCOPHILLIPS COM 20825C104 1513 26007 SH DEFINED 19331 4465 2211 CONSOLIDATED EDISON INC COM 209115104 94 2042 SH DEFINED 2042 0 0 CONSTELLATION ENERGY GROUP ICOM 210371100 29 520 SH DEFINED 520 0 0 CORNING INC COM 219350105 29 1500 SH DEFINED 0 1500 0 COUNTRYWIDE FINL CORP COM 222372104 10 300 SH DEFINED 0 0 300 CUMMINS INC COM 231021106 26 300 SH DEFINED 0 0 300 DPL INC COM 233293109 394 15187 SH DEFINED 15187 0 0 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 9 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) DTE ENERGY CO COM 233331107 302 7000 SH DEFINED 4000 0 3000 DANAHER CORP DEL COM 235851102 9380 168156 SH X 1 159538 3413 5205 DANAHER CORP DEL COM 235851102 1005 18025 SH X 1 15585 1865 575 DANAHER CORPORATION COM 235851102 50 905 SH DEFINED 905 0 0 DARDEN RESTAURANTS INC COM 237194105 8549 219877 SH X 1 209837 2598 7442 DARDEN RESTAURANTS INC COM 237194105 560 14400 SH X 1 13185 1090 125 DARDEN RESTAURANTS INC COM 237194105 1110 28567 SH DEFINED 21611 5680 1276 DEAN FOODS CO NEW COM 242370104 577 15352 SH DEFINED 13590 260 1502 DEERE & CO COM 244199105 42 625 SH DEFINED 125 500 0 DELL INC COM 24702R101 446 14894 SH DEFINED 10744 300 3850 DELTA AIR LINES INC DEL COM 247361108 0 705 SH DEFINED 705 0 0 DENTSPLY INTL INC NEW COM 249030107 502 9359 SH DEFINED 6935 1040 1384 DIEBOLD INC COM 253651103 183 4835 SH DEFINED 4325 0 510 DISNEY WALT CO COM DISNEY 254687106 226 9448 SH X 1 8673 775 DISNEY WALT CO COM DISNEY 254687106 28 1150 SH X 1 700 450 DISNEY WALT CO COM 254687106 110 4623 SH DEFINED 2617 0 2006 DISCOVERY HOLDING CO CL A COM 25468Y107 2 180 SH DEFINED 0 0 180 DOLLAR GEN CORP COM 256669102 87 4573 SH DEFINED 3618 0 955 DOMINION RES INC VA NEW COM 25746U109 6612 85642 SH X 1 81915 908 2819 DOMINION RES INC VA NEW COM 25746U109 613 7942 SH X 1 5766 1936 240 DOMINION RES INC VA NEW COM 25746U109 1221 15822 SH DEFINED 13089 1780 953 DONNELLEY R R & SONS CO COM 257867101 6 190 SH DEFINED 190 0 0 DOVER CORP COM 260003108 1405 34712 SH DEFINED 23829 9015 1868 DOW CHEM CO COM 260543103 742 16925 SH X 1 16850 75 DOW CHEM CO COM 260543103 86 1960 SH X 1 1313 647 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 10 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) DOW CHEM CO COM 260543103 238 5444 SH DEFINED 4644 800 0 DU PONT E I DE NEMOURS & CO COM 263534109 684 16102 SH X 1 15967 135 DU PONT E I DE NEMOURS & CO COM 263534109 463 10897 SH X 1 6975 3922 DU PONT E I DE NEMOURS & CO COM 263534109 383 9026 SH DEFINED 8376 450 200 DUKE ENERGY CORP COM 264399106 161 5864 SH X 1 5864 DUKE ENERGY CORP COM 264399106 62 2255 SH X 1 1315 940 DUKE ENERGY CORP COM 264399106 329 11996 SH DEFINED 11414 0 582 E M C CORP MASS COM 268648102 5785 424751 SH X 1 404618 5388 14745 E M C CORP MASS COM 268648102 425 31213 SH X 1 26103 3380 1730 EAGLE MATERIALS INC COM 26969P108 2 17 SH DEFINED 0 0 17 EAGLE MATERIALS INC CL B 26969P207 6 59 SH DEFINED 0 0 59 EASTMAN CHEM CO COM 277432100 10 200 SH DEFINED 0 0 200 ECOLAB INC COM 278865100 1381 38104 SH DEFINED 31166 2735 4203 EDO CORP COM 281347104 24 893 SH DEFINED 893 0 0 EL PASO CORP COM 28336L109 6 575 SH DEFINED 0 0 575 ELAN PLC ADR 284131208 1 100 SH DEFINED 0 0 100 ELECTRONIC ARTS INC COM 285512109 271 5196 SH DEFINED 4321 0 875 ELECTRONIC DATA SYS NEW COM 285661104 36 1499 SH DEFINED 1499 0 0 EMERSON ELEC CO COM 291011104 426 5698 SH X 1 5598 100 EMERSON ELEC CO COM 291011104 203 2713 SH X 1 1813 900 EMERSON ELEC CO COM 291011104 1905 25505 SH DEFINED 22759 1430 1316 ENCANA CORP COM 292505104 36 800 SH DEFINED 600 0 200 ENERGEN CORP COM 29265N108 429 11842 SH DEFINED 7684 3912 246 ENERGY EAST CORP COM 29266M109 319 14000 SH X 1 14000 ENERGY EAST CORP COM 29266M109 168 7374 SH X 1 7374 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 11 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) ENTERGY CORP NEW COM 29364G103 3 45 SH DEFINED 45 0 0 ENTRAVISION COMMUNICATIONS C CL A 29382R107 142 20000 SH X 1 20000 EQUIFAX INC COM 294429105 1882 49500 SH X 1 49500 EQUIFAX INC COM 294429105 21 550 SH X 1 550 EQUIFAX INC COM 294429105 33 880 SH DEFINED 880 0 0 EXELON CORP COM 30161N101 7389 139043 SH X 1 132929 1675 4439 EXELON CORP COM 30161N101 796 14974 SH X 1 11540 2674 760 EXELON CORP COM 30161N101 1191 22432 SH DEFINED 18608 3015 809 EXELIXIS INC COM 30161Q104 0 50 SH DEFINED 0 50 0 EXPRESS SCRIPTS INC COM 302182100 2654 31680 SH DEFINED 24795 5660 1225 EXXON MOBIL CORP COM 30231G102 23323 415230 SH X 1 405552 3820 5858 EXXON MOBIL CORP COM 30231G102 5502 97949 SH X 1 71838 22526 3585 EXXON MOBIL CORP COM 30231G102 7619 135654 SH DEFINED 91596 19864 24194 FPL GROUP INC COM 302571104 338 8140 SH X 1 8140 FPL GROUP INC COM 302571104 195 4686 SH X 1 4650 36 FPL GROUP INC COM 302571104 432 10417 SH DEFINED 8223 1240 954 FAIR ISAAC CORP COM 303250104 13 300 SH DEFINED 0 0 300 FAMILY DLR STORES INC COM 307000109 41 1655 SH DEFINED 1655 0 0 FEDERAL HOME LN MTG CORP COM 313400301 26 400 SH DEFINED 400 0 0 FANNIE MAE COM 313586109 112 2315 SH DEFINED 315 0 2000 FEDERATED DEPT STORES INC COM 31410H101 52 798 SH DEFINED 798 0 0 FEDEX CORP 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OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) TORONTO DOMINION BK ONT COM NEW 891160509 84 1592 SH X 1 1068 524 TORONTO DOMINION BK ONT COM NEW 891160509 13 261 SH DEFINED 144 0 117 TRANSCANADA CORP COM 89353D107 31 1000 SH DEFINED 1000 0 0 TREEHOUSE FOODS INC COM 89469A104 16 900 SH DEFINED 852 0 48 TRIBUNE COMPANY COM 896047107 33 1120 SH DEFINED 880 240 0 TYCO INTL LTD NEW COM 902124106 30 1040 SH DEFINED 90 0 950 UIL HLDG CORP COM 902748102 4 100 SH DEFINED 100 0 0 US BANCORP DEL COM NEW 902973304 186 6227 SH DEFINED 6227 0 0 UTS ENERGY CORP COM 903396109 43 10000 SH X 1 10000 UNILEVER N V N Y SHS NEW 904784709 41 611 SH DEFINED 586 25 0 UNION PAC CORP COM 907818108 221 2750 SH X 1 1950 800 UNION PAC CORP COM 907818108 280 3475 SH X 1 475 600 2400 UNION PAC CORP COM 907818108 63 791 SH DEFINED 791 0 0 UNITED NAT FOODS INC COM 911163103 12 465 SH DEFINED 465 0 0 UNITED PARCEL SERVICE INC CL B 911312106 1290 17176 SH DEFINED 13106 805 3265 UNITED TECHNOLOGIES CORP COM 913017109 10667 190797 SH X 1 182343 1967 6487 UNITED TECHNOLOGIES CORP COM 913017109 1015 18160 SH X 1 16140 1930 90 UNITED TECHNOLOGIES CORP COM 913017109 2240 40080 SH DEFINED 26912 11362 1806 UNITEDHEALTH GROUP INC COM 91324P102 3572 57505 SH DEFINED 47455 6115 3935 UNITIL CORP COM 913259107 219 8735 SH DEFINED 8735 0 0 UNIVERSAL CORP VA COM 913456109 26 600 SH DEFINED 0 0 600 UNOVA INC COM 91529B106 6 200 SH DEFINED 200 0 0 VF CORP COM 918204108 280 5065 SH DEFINED 4570 495 0 VALERO L P COM UT LTD PRT 91913W104 140 2696 SH X 1 2696 VALERO L P COM UT LTD PRT 91913W104 104 2012 SH X 1 2012 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 24 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) VAN KAMPEN 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SH X 1 1952 1215 40 WAL MART STORES INC COM 931142103 92 1975 SH X 1 1975 WAL MART STORES INC COM 931142103 179 3846 SH DEFINED 2246 0 1600 WALGREEN CO COM 931422109 8896 200998 SH X 1 192755 2060 6183 WALGREEN CO COM 931422109 819 18510 SH X 1 15730 1895 885 WALGREEN CO COM 931422109 3067 69329 SH DEFINED 45134 7165 17030 WASTE MGMT INC DEL COM 94106L109 25 825 SH DEFINED 825 0 0 WELLPOINT INC COM 94973V107 6101 76462 SH X 1 72962 879 2621 WELLPOINT INC COM 94973V107 564 7070 SH X 1 6655 375 40 WELLPOINT INC COM 94973V107 39 500 SH DEFINED 100 0 400 CHITTENDEN BANK SECURITIES AND EXCHANGE COMMISSION FORM 13F PAGE 25 ASSETS AS OF 12/31/05 COLUMN 1 AND 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 INVESTMENT MARKET DISCRETION VOTING AUTHORITY VALUE SHS OR SH/PUT SOLE SHR OTH OTH SOLE SHARED NONE NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT CALL (A) (B) (C) MGRS (A) (B) WELLS FARGO & CO NEW COM 949746101 12801 203745 SH X 1 194603 2480 6662 WELLS FARGO & CO NEW COM 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DEFINED 16454 3680 832 CONSOLIDATED WATER CO INC ORD G23773107 141 7000 SH DEFINED 5000 0 2000 INGERSOLL-RAND A LTD G4776G101 18 470 SH DEFINED 470 0 0 MARVELL TECHNOLOGY GRP LTD ORD G5876H105 821 14644 SH DEFINED 10803 2440 1401 FLEXTRONICS INTL LTD ORD Y2573F102 15 1440 SH DEFINED 1440 0 0

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