M&T Bank has received an "Outstanding" Community Reinvestment Act rating -- the highest possible rating in the assessment of how well the bank meets the credit needs of the communities it serves -- from the Federal Reserve Bank of New York.

The recently issued rating is based on M&T's performance between January 1, 2002 and December 31, 2003. Federal regulators spent several months reviewing the bank's lending, service and investment data. M&T was rated on geographic assessment areas where it does business in 6 states and the District of Columbia.

The "Outstanding" rating credits M&T with "being a leader in, ascertaining and helping to meet the credit needs of its entire delineated community, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities."

  Major factors cited by the Federal Reserve Bank for the rating include:

  -- The volume of lending related to the Home Mortgage Disclosure Act and
     small businesses reflected good responsiveness to credit needs in the
     bank's assessment areas.

  -- Community development lending and qualified investments exhibited
     excellent activity levels.

  -- Retail delivery systems were readily accessible to geographies and
     individuals of different income levels.

"We have 15 employees within the CRA department solely dedicated to working with their colleagues in the mortgage, small business and other departments at M&T to deliver the financial products, educational programs and charitable contributions needed to help improve the communities we serve. Our grade on this report card reflects the work we do every day at M&T to have a positive influence on those communities," said JoAnne Schwartz, Corporate CRA Officer for M&T.

The Community Reinvestment Act of 1977 was enacted by Congress to encourage financial institutions to meet the credit needs of the communities in which they operate. M&T has earned the highest rating awarded by the Federal Reserve Bank on each of its period CRA examinations since 1982.

M&T Bank serves customers at more than 665 branches in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and Washington, D.C.

Contact:

Chet Bridger

716-842-5182