MTB Investment Advisors, Inc., (MTBIA), announced today that it has launched a new state-of-the-art Enhanced Cash Reporting system for its short-term fixed income clients. This will complement MTBIA's expertise in the management of short-term investments by enabling CFOs and Treasurers to monitor their portfolios online, with complete transparency and drill-down functionality.

This reporting capability, coupled with MTBIA's ability to provide institutions with customized, separately managed account solutions for maximizing returns on cash reserves, while meeting liquidity needs, provides a compelling differentiator for MTBIA.

"MTBIA's ability to provide expert management and world-class reporting is particularly significant for the CFO or Treasurer who is looking for a way to maximize returns on their short-term investment portfolio, and effectively deal with accounting, performance, compliance, and risk reporting issues." said William Dwyer, MTBIA President and CIO. "Our institutional clients have embraced our new reporting capability."

Significant changes in regulatory requirements due to the Sarbanes-Oxley Act, the evolution of Treasurer and CFO roles in terms of greater involvement in the strategic planning process, as well as the significant growth in cash reserves, have provided catalysts for change and the need for greater efficiency and transparency in managing short-term reserves.

MTBIA's new Enhanced Cash Reporting system is designed specifically to address the unique reporting, accounting and regulatory needs of institutional investors. It provides a state-of-the-art, web-based and integrated accounting, risk, compliance, and performance solution so that cash reserves can be accurately and efficiently monitored.

This reporting system provides information that goes well beyond typical reporting requirements in terms of its scope and accessibility. It helps facilitate the reporting that many institutions are required to do, and can help improve decision-making that could result in better returns, risk management and information flow.

Data can be accessed by clients at a secure website through http://www.mtbia.com/, without time-consuming implementation, data entry, processing, or off-line reconciliation requirements for the client. In addition, Enhanced Cash Reports contain accounting information required to support the preparation and analysis of a variety of critical financial reports including balance sheets, income statements, and cash flow forecasts.

"This unique combination of effective short-term investment management provided by a seasoned team of fixed income professionals with the ability to provide online, daily, monthly and quarterly reporting, provides a compelling solution that compares favorably with what our competition has to offer," concludes Mr. Dwyer.

MTBIA, a subsidiary of M&T Bank, provides investment advisory services to corporations, not-for-profit organizations, pension programs, endowments, foundations, municipalities and unions, and has eight offices with locations ranging from New York to Washington, D.C.

Enhanced Cash, that is the management of short-term investments, is an area of focus and expertise for MTBIA. MTBIA actively manages $6.5 billion of cash equivalent investments (as of March 31, 2006), consisting of money market funds and separate accounts ranging in size from $3 million to over $300 million. The Enhanced Cash solution provided by MTBIA, complements the range of cash management solutions available through its affiliate, M&T Bank.

The core members of MTBIA's Fixed Income Team, who manage this Enhanced Cash solution, have been with MTBIA since the firm's inception in 1995. The Fixed Income Team consists of 18 seasoned investment professionals and staff. MTBIA has seven fixed income portfolio managers and five full-time credit analysts (including one mortgage-backed analyst and one money market credit analyst). These fixed income portfolio managers have an average of over 18 years industry experience.

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