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NEWS RELEASE FOR IMMEDIATE
DISTRIBUTION
Partners Trust Financial Group Stockholders
Vote to Approve Agreement
With M&T Bank Corporation
Utica, N.Y., November 21, 2007-Partners Trust
Financial Group, Inc. (NASDAQ: PRTR) today announced that at a
special meeting its stockholders had overwhelmingly voted to
approve the previously announced Agreement and Plan of Merger
pursuant to which M&T Bank Corporation (NYSE: MTB) will acquire
Partners Trust Financial Group and its wholly owned subsidiary,
Partners Trust Bank.
The merger is expected to close promptly after
the receipt of all required regulatory approvals.
Partners Trust Financial Group, Inc.,
headquartered in Utica, New York, is the holding company for
Partners Trust Bank, which was founded in 1839. Partners Trust Bank
offers a wide variety of business and retail banking products as
well as a full range of investment and municipal banking services
through its 33 Central and Southern New York locations in Oneida,
Onondaga, Herkimer, Broome, Tioga and Chenango counties. Customers'
banking needs are serviced 24 hours a day through a network of
ATMs, automated telephone banking, and through the convenience of
internet banking at its website, www.partnerstrust.com .
M&T Bank Corporation, headquartered in Buffalo, New York, is a
bank holding company whose banking subsidiaries, M&T Bank and
M&T Bank, National Association, operate branch offices in New
York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware,
New Jersey and the District of Columbia. M&T Bank operates 600
branches and 1,600 ATMs, with more than 250 branches and nearly 500
ATMs located in New York State.
Contact: Partners Trust Financial Group, Inc.
John Zawadzki, President & CEO 315-738-4778
Steven A. Covert, Senior Executive VP & COO 315-738-4993
Amie Estrella, Senior VP, CFO and Corporate Secretary
315-731-5487
Forward-Looking Statements:
Certain statements contained in this press
release that are not statements of historical fact constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act"),
notwithstanding that such statements are not specifically
identified. In addition, certain statements may be contained in the
future filings of M&T with the Securities and Exchange
Commission ("SEC"), in press releases and in oral and written
statements made by or with the approval of M&T that are not
statements of historical fact and constitute forward-looking
statements within the meaning of the Act. Examples of
forward-looking statements include, but are not limited to:
(i) statements about the benefits of the merger between
M&T and Partners Trust, including future financial and
operating results, cost savings, enhanced revenues and accretion to
reported earnings that may be realized from the merger;
(ii) statements of plans, objectives and expectations of
M&T or Partners Trust or their managements or Boards of
Directors; (iii) statements of future economic performance;
and (iv) statements of assumptions underlying such statements.
Words such as "believes," "anticipates," "expects," "intends,"
"targeted," "continue," "remain," "will," "should," "may" and other
similar expressions are intended to identify forward-looking
statements but are not the exclusive means of identifying such
statements.
Forward-looking statements
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