M&T Bank Corporation ("M&T") announced that its Board of Directors yesterday declared a quarterly cash dividend of $.30 per share on M&T's common stock. The dividend will be payable March 31, 2003 to stockholders of record at the close of business on March 3, 2003.

M&T is a bank holding company whose subsidiaries, Manufacturers and Traders Trust Company and M&T Bank, National Association, operate branch offices in New York, Pennsylvania, Maryland and West Virginia.

Contact:

Michael S. Piemonte

(716) 842-5138