M&T Bank Corporation ("M&T") announced that the Executive Committee of its Board of Directors yesterday declared a quarterly cash dividend of $.40 per share on M&T's common stock. The dividend will be payable September 30, 2004 to stockholders of record at the close of business on September 2, 2004.

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

INVESTOR CONTACT:

Donald J. MacLeod

(716) 842-5138

MEDIA CONTACT:

Philip Hosmer

(410) 916-0790