M&T Securities Acquires Peremel & Company

Baltimore, MD, September 4, 2008 --- M&T Securities, Inc. ("M&T Securities") has acquired from PNC Investments LLC the business unit that was formerly Peremel & Company ("Peremel").  Established in 1974, Peremel was acquired by Mercantile-Safe Deposit and Trust Company in March 2003, which was in turn acquired by PNC Bank, NA in September 2007.
 
This Pikesville, MD-based brokerage business unit has client accounts that represent  $700 million in assets.
 
"Peremel has provided superior service to investors in Greater Baltimore for more than a generation, and we look forward to joining with Peremel's exceptional and experienced investment professionals to serve our customers for generations to come," said Christopher Randall, President of M&T Securities.  "Together, M&T and Peremel can offer a broader range of investment and wealth management services and solutions."
 
The employees of this business unit have joined M&T as of the closing date, and will continue to operate from their current location at 1829 Reisterstown Road in Pikeville, MD.
 
M&T Bank Corporation (NYSE:MTB) is a bank holding company with $66 billion in assets. Its 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.
 
Brokerage services and insurance products are offered by M&T Securities, Inc. (member FINRA/SIPC), not by M&T Bank. M&T Securities, Inc. is licensed as an insurance agent and acts as agent for insurers. Insurance policies are obligations of the insurers that issue the policies. Insurance products may not be available in all states.

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