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EXHIBIT 23.2
CONSENT OF FINANCIAL ADVISOR
We hereby consent to the inclusion of the Opinion of McConnell, Budd &
Downes, Inc. in Appendix A to the Joint Proxy Statement which is filed with the
Securities and Exchange Commission on a Registration Statement on Form S-4 of
NewMil Bancorp, Inc. ("NewMil") in connection with the proposed merger of Nutmeg
Savings & Loan Association ("Nutmeg") and NewMil. In giving such consent, we do
not thereby admit that we come within the category of persons whose consent is
required under Section 7 of the Securities Act of 1933 or the rules and
regulations of the Securities and Exchange Commission thereunder.
McConnell, Budd & Downes, Inc.
June 27, 2000
