Exhibit No. 99
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FIRST EMPIRE STATE CORPORATION ONE M&T PLAZA BUFFALO, NEW YORK 14240
NEWS RELEASE
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CONTACT:  Gary S. Paul                                    FOR IMMEDIATE RELEASE
          (716) 842-5130                                  April 2, 1996



Buffalo,  N.Y. -- First Empire State  Corporation  ("First  Empire")  (AMEX:FES)
announced that National  Indemnity  Company,  a subsidiary of Berkshire Hathaway
Inc.,  the  holder  of  all of the  outstanding  shares  of  First  Empire's  9%
convertible preferred stock ("Preferred Stock"), has converted those shares into
506,930 shares of First Empire common stock ("Common  Stock") as of the close of
business on March 29, 1996. Following the conversion, National Indemnity Company
is the holder of 7.41% of the 6,844,923 shares of Common Stock outstanding.

National  Indemnity Company was issued 40,000 shares of Preferred Stock on March
15, 1991 for $40  million.  The  Preferred  Stock was  converted  into shares of
Common Stock at a contractual conversion price of $78.90625 per share.

First Empire is a $12 billion bank holding company headquartered in Buffalo, New
York. Its banking subsidiaries  include  Manufacturers and Traders Trust Company
(Buffalo,  New York),  The East New York Savings Bank (New York City,  New York)
and M&T Bank, National Association (Oakfield, New York).





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