Page 1 of 3
                          NEW ENGLAND BANCSHARES, INC.
                               855 Enfield Street
                                Enfield, CT 06082

For Immediate Release

CONTACT:  Scott D. Nogles, Chief Financial Officer
          (860) 253-5200

              New England Bancshares, Inc. Reports Earnings for the
                        Three Months Ended June 30, 2008

ENFIELD,  CT, July 22,  2008 - New  England  Bancshares,  Inc.  (the  "Company")
(Nasdaq GM:  NEBS),  the holding  company for Enfield  Federal  Savings and Loan
Association and Valley Bank,  reported net income for the quarter ended June 30,
2008 of $452,000,  or $0.08 per diluted  share as compared to $49,000,  or $0.01
per diluted share,  reported for the same quarter a year ago. During the quarter
ended June 30, 2007,  the Company sold $6.4 million of  securities,  recording a
loss of $222,000  ($199,000  on an  after-tax  basis),  as it  restructured  its
balance sheet to provide a better yield on investments. Earnings for the quarter
ended June 30, 2007 do not  include the  operations  of Valley  Bank,  which was
acquired on July 12, 2007. In  connection  with the  acquisition,  each share of
First Valley Bancorp, Inc., the former parent of Valley Bank, was converted into
$9.00 in cash and 0.8907  shares of the  Company,  resulting  in the issuance of
1,068,625 shares and $10.8 million in cash.

NET INTEREST AND DIVIDEND INCOME IMPROVES OVER PRIOR YEAR
Net  interest  and  dividend  income for the three  months  ended June 30,  2008
increased by $1.5 million, or 62.1%, compared to the three months ended June 30,
2007.  The increase for the quarter was  primarily due to an increase in average
interest  earning  assets of $205.8 million and a 20 basis point decrease in the
rate paid on average interest earning liabilities,  partially offset by a $197.4
million increase in average  interest  bearing  liabilities and a 12 basis point
decrease in the yield on average  interest  bearing  assets.  The changes of the
yield on average  interest  earning assets and the rate paid on average interest
bearing  liabilities  caused the Company's interest rate spread to increase from
2.86% for the quarter  ended June 30,  2007 to 2.94% for the quarter  ended June
30, 2008. The Company's net interest  margin for the quarter ended June 30, 2008
was 3.39% compared to 3.60% in the year earlier period.

LOANS AND DEPOSITS GROW
At June 30,  2008,  total  assets  were  $537.5  million,  an  increase of $19.3
million,  or 3.7%,  from March 31, 2008.  Net loans  outstanding  increased $8.8
million, or 2.4%, to $380.6 million at June 30, 2008 compared to March 31, 2008.
The  increase  in loans was  primarily  due to an  increase  of $2.2  million in
commercial  mortgage loans, a $5.4 million increase in commercial  loans, a $2.9
million  increase  in  residential  mortgage  loans and a $245,000  increase  in
consumer  loans,  partially  offset by a $1.9 million  decrease in  construction
loans. At June 30, 2008  commercial  real estate and commercial  loans accounted
for 51.5% of the loan  portfolio.  Total deposits  increased  $21.3 million,  or
5.7%, to $391.6  million at June 30, 2008 from $370.3 million at March 31, 2008.

<PAGE>

                                                                     Page 2 of 3

Federal Home Loan Bank advances decreased $776,000, or 1.3%, to $61.2 million at
June 30, 2008 compared to $61.9 million at March 31, 2008.

NONINTEREST INCOME
Noninterest  income  for the  three  months  ended  June 30,  2008 was  $467,000
compared to $(30,000) for the prior year quarter.  Affecting  noninterest income
for the  three  months  ended  June  30,  2007  was a  $225,000  loss on sale of
investments,  of which  $222,000  was  related to the sale of two  mutual  funds
totaling $6.4 million.  The Company  recognized  increases in service charges on
deposit accounts,  gain on sale of loans, increases in the cash surrender values
of life insurance policies and other income.

INCOME TAX EXPENSE
Income tax expense  increased  from $148,000 for the three months ended June 30,
2007 to $200,000 for the three months ended June 30,  2008.  The  effective  tax
rates  were  30.7% and 75.1% for the three  months  ended June 30 2008 and 2007,
respectively.  The $225,000 loss on sale of the mutual funds  described above is
considered a capital loss and can only be offset by capital  gains.  The Company
was able to offset $68,000 of the loss from a previously  recorded capital gain;
however  the  Company  was not able to  record a tax  benefit  on the  remaining
$154,000  capital loss. The $154,000 is allowed to be carried  forward to offset
future capital gains, if any.

Statements  contained in this news release,  which are not historical facts, are
forward-looking  statements  as that term is defined in the  Private  Securities
Litigation  reform Act of 1995. Such  forward-looking  statements are subject to
risks and  uncertainties,  which could cause actual results to differ materially
from those currently anticipated due to a number of factors,  which include, but
are not limited to, factors discussed in documents filed by the Company with the
Securities and Exchange Commission from time to time. Subject to applicable laws
and regulation,  the Company does not undertake - and specifically disclaims any
obligation - to publicly  release the results of any revisions which may be made
to any  forward-looking  statements to reflect events or circumstances after the
date  of  such  statements  or to  reflect  the  occurrence  of  anticipated  or
unanticipated events.

New England  Bancshares,  Inc. is  headquartered  in Enfield,  Connecticut,  and
operates Enfield Federal Savings and Loan Association with eight banking centers
servicing  the  communities  of Enfield,  Manchester,  Suffield,  East  Windsor,
Ellington  and Windsor Locks and Valley Bank with four banking  centers  serving
the communities of Bristol,  Terryville and  Southington.  For more  information
regarding    Enfield   Federal's    products   and   services,    please   visit
www.enfieldfederal.com and for more information regarding Valley Bank's products
and services, please visit www.valleybankct.com.


<PAGE>

                                                                     Page 3 of 3

                               Statistical Summary
                                   (unaudited)
                  (dollars in thousands, except per share data)


Income Statement Data                               Three Months Ended June 30,
---------------------                               ---------------------------
                                                        2008           2007
                                                    ------------   ------------
Net interest and dividend income                    $      3,877   $      2,392
Provision for loan losses                                    148             62
Noninterest income (charges)                                 467            (30)
Noninterest expense                                        3,544          2,103
Net income                                                   452             49
Earnings per share:
Basic                                               $       0.08   $       0.01
Diluted                                                     0.08           0.01

Dividend per share                                          0.03           0.03

Balance Sheet Data                                 June 30, 2008  March 31, 2008
------------------                                 -------------  --------------
Total assets                                       $    537,478   $    518,179
Total loans, net                                        380,577        371,769
Allowance for loan losses                                 4,158          4,046
Total deposits                                          391,598        370,312
Repurchase agreements                                     8,587          8,555
FHLB advances                                            61,152         61,928
Total equity                                             67,328         68,737
Book value per share(1)                                   11.91          11.96
Tangible book value per share(2)                           8.86           8.94


Key Ratios                                    Three Months Ended June 30,
----------                                    ---------------------------
                                                  2008           2007
                                                  ----           ----
Return on average assets                          0.34%          0.07%
Return on average equity                          2.64%          0.34%
Net interest margin                               3.39%          3.60%

(1) Calculation  excludes  unallocated ESOP shares and unvested  incentive stock
grants. Including these shares in the calculation causes book value per share to
decrease to $11.21 and $11.27 at June 30, 2008 and March 31, 2008, respectively.

(2) Calculation  excludes  unallocated ESOP shares and unvested  incentive stock
grants. Including these shares in the calculation causes book value per share to
decrease to $8.34 and $8.42 at June 30, 2008 and March 31, 2008, respectively.


                                       ###