<SUBMISSION>
<ACCESSION-NUMBER>0000950123-05-004185
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>6
<PERIOD>20050511
<FILING-DATE>20050407
<DATE-OF-FILING-DATE-CHANGE>20050407
<EFFECTIVENESS-DATE>20050407
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>COMMUNITY BANK SYSTEM INC
<CIK>0000723188
<ASSIGNED-SIC>6021
<IRS-NUMBER>161213679
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>001-13695
<FILM-NUMBER>05738427
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>5790 WIDEWATERS PKWY
<CITY>DEWITT
<STATE>NY
<ZIP>13214
<PHONE>8007242262
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>5790 WIDEWATERS PARKWAY
<CITY>DEWITT
<STATE>NY
<ZIP>13214
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>y07599def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>COMMUNITY BANK SYSTEM, INC.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="center" style="font-size: 18pt"><B>SCHEDULE 14A
INFORMATION</B>


<DIV align="center" style="font-size: 12pt"><B>Proxy Statement
Pursuant to Section&nbsp;14(a)</B></DIV>


<DIV align="center" style="font-size: 12pt"><B>of the Securities
Exchange Act of 1934</B></DIV>



<P align="left" style="font-size: 10pt">Fixed by the registrant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#254;</FONT>



<P align="left" style="font-size: 10pt">Filed by a party other than the registrant.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>



<P align="left" style="font-size: 10pt">Check the appropriate box:


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Preliminary Proxy Statement</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#254;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitive Proxy Statement</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Definitive Additional Materials</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting Material Pursuant to &#167; 240.14a-12</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 14pt"><B>Community Bank System,
Inc.</B>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000"></DIV>


<DIV align="center" style="font-size: 10pt">(Name of Registrant as Specified In Its Charter)</DIV>



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Name of Person(s) Filing Proxy Statement if other than the Registrant)</DIV>



<P align="left" style="font-size: 10pt">Payment of Filing Fee (Check the appropriate box):


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#254;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No fee required.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">(1)&nbsp;Title of each class of securities to which transaction applies:



<P align="left" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">



<P align="left" style="font-size: 10pt">(2)&nbsp;Aggregate number of securities to which transaction applies:



<P align="left" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">



<P align="left" style="font-size: 10pt">(3)&nbsp;Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule
0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):



<P align="left" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">



<P align="left" style="font-size: 10pt">(4)&nbsp;Proposed maximum aggregate value of transaction:



<P align="left" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">



<P align="left" style="font-size: 10pt">(5)&nbsp;Total fee paid:



<P align="left" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fee paid previously with preliminary materials.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2)
and identify the filing for which the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule and the date of its filing.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="18%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="72%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">(1) Amount Previously Paid:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade color="#000000">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="57%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">(2) Form, Schedule or Registration Statement No.:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade color="#000000">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="79%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">(3) Filing Party:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade color="#000000">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="11%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="81%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">(4) Date Filed:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><HR size="1" noshade color="#000000">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="center" style="font-size: 10pt"><IMG src="y07599y0759900.gif" alt="(COMMUNITY BANK SYSTEM,INC. LOGO  )">



<P align="center" style="font-size: 10pt">COMMUNITY BANK SYSTEM, INC.


<DIV align="center" style="font-size: 10pt">5790 Widewaters Parkway</DIV>


<DIV align="center" style="font-size: 10pt">DeWitt, New York 13214-1883</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="90%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center"><B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS</B><BR></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">April&nbsp;7, 2005


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>To the Shareholders of Community Bank System, Inc.:</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the direction of the Board of Directors of <B>Community Bank System, Inc.</B>, a Delaware
corporation (the &#147;Company&#148;), <B><I>NOTICE IS HEREBY GIVEN </I></B>that the Annual Meeting of Shareholders of the
Company (the &#147;Meeting&#148;) will be held at 1:00 p.m. on Wednesday, May&nbsp;11, 2005 at the Woodlands Inn &#038;
Resort in Wilkes-Barre, Pennsylvania for the purpose of considering and voting upon the following
matters:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>The election of four directors to hold office for a
term of three years and until their successors have been duly
elected.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>The transaction of any other business which may
properly be brought before the Meeting or any adjournment thereof.</TD>
</TR>

</TABLE>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="39%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By Order of the Board of Directors</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><IMG src="y07599y0759901.gif" alt="-s- Donna J. Drengel"></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Donna J. Drengel</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secretary</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">



<P align="left" style="font-size: 10pt"><B>YOUR VOTE IS IMPORTANT. YOU ARE THEREFORE REQUESTED TO SIGN AND RETURN THE ENCLOSED PROXY CARD
AS PROMPTLY AS POSSIBLE, EVEN IF YOU EXPECT TO BE PRESENT AT THE MEETING. YOU MAY WITHDRAW YOUR
PROXY AT ANY TIME PRIOR TO THE MEETING, OR IF YOU DO ATTEND THE MEETING, YOU MAY WITHDRAW YOUR
PROXY AT THAT TIME AND VOTE IN PERSON IF YOU WISH.</B>


</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000"> FOR ANNUAL MEETING OF SHAREHOLDERS, MAY 11, 2005</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001"> VOTING RIGHTS AND PROXIES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002"> SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003"> ITEM 1: ELECTION OF DIRECTORS AND INFORMATION WITH</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">NOMINEES FOR DIRECTOR AND DIRECTORS CONTINUING IN OFFICE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005"> BOARD COMPOSITION, MEETINGS, COMMITTEES, AND COMPENSATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006"> COMPENSATION OF EXECUTIVE OFFICERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007"> SUMMARY COMPENSATION TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008"> OPTION/SAR GRANTS IN LAST FISCAL YEAR</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009"> AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR AND FISCAL YEAR-END OPTION/SAR VALUES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010"> PENSION PLAN INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011"> PENSION PLAN TABLE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">REPORT OF THE COMPENSATION COMMITTEE ON EXECUTIVE COMPENSATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#013">AUDIT COMMITTEE REPORT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#014">AUDIT FEES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#015">TRANSACTIONS WITH MANAGEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#016">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#017">SHAREHOLDER PROPOSALS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#018">INDEPENDENT AUDITORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#019">OTHER MATTERS</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<P align="center" style="font-size: 10pt"><IMG src="y07599y0759900.gif" alt="(COMMUNITY BANK SYSTEM,INC. LOGO  )">



<P align="center" style="font-size: 10pt">COMMUNITY BANK SYSTEM, INC.


<DIV align="center" style="font-size: 10pt">5790 Widewaters Parkway</DIV>


<DIV align="center" style="font-size: 10pt">DeWitt, New York 13214-1883</DIV>



<P align="center" style="font-size: 10pt"><B>PROXY STATEMENT</B>


<!-- link1 " FOR ANNUAL MEETING OF SHAREHOLDERS, MAY 11, 2005 " -->
<DIV align="left"><A NAME="000"></A></DIV>
<DIV align="center" style="font-size: 10pt"><B>FOR ANNUAL MEETING OF SHAREHOLDERS, MAY 11, 2005</B></DIV>




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Proxy Statement is furnished as part of the solicitation of proxies by the Board of
Directors of Community Bank System, Inc. (the &#147;Company&#148;), the holding company for Community Bank,
N.A. (the &#147;Bank&#148;), for use at the Annual Meeting of Shareholders of the Company (the &#147;Meeting&#148;) to
be held at 1:00 p.m. on Wednesday, May&nbsp;11, 2005, at the Woodlands Inn &#038; Resort in Wilkes-Barre,
Pennsylvania. This Proxy Statement and the form of Proxy are first being sent to Shareholders on
approximately April&nbsp;7, 2005.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the Meeting, the Shareholders will be asked to vote for the election of directors. Four of
the total of thirteen directors who serve on the Company&#146;s Board of Directors (excluding current
directors whose terms will not continue after the Meeting) will stand for re-election to the Board
at the Meeting. In addition, voting will be conducted on any other matters which are properly
brought before the Meeting.

<!-- link1 " VOTING RIGHTS AND PROXIES" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>VOTING RIGHTS AND PROXIES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors of the Company has fixed the close of business on March&nbsp;23, 2005 as the
record date for determining which Shareholders are entitled to notice of and to vote at the
Meeting. At the close of business on the record date, 30,322,110 shares of common stock, $1.00 par
value, were outstanding and entitled to vote at the Meeting. This is the Company&#146;s only class of
voting stock outstanding. Each share of outstanding common stock is entitled to one vote with
respect to each item to come before the Meeting. There will be no cumulative voting of shares for
any matter voted upon at the Meeting. The Bylaws of the Company provide that one-third of the
outstanding shares of the Company, represented in person or by proxy, shall constitute a quorum at
a shareholder meeting.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the enclosed form of Proxy is properly executed and returned to the Company prior to or at
the Meeting, and if the Proxy is not revoked prior to its exercise, all shares represented thereby
will be voted at the Meeting and, where instructions have been given by a Shareholder, will be
voted in accordance with such instructions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Shareholder executing a Proxy which is solicited hereby has the power to revoke it at any
time prior to its exercise. A Proxy may be revoked by giving written notice to the Secretary of
the Company at the Company&#146;s address set forth above, by attending the Meeting and voting the
shares of stock in person, or by executing and delivering to the Secretary a later-dated Proxy.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will bear all costs of soliciting Proxies. The solicitation of Proxies will be by
mail, but Proxies may also be solicited by telephone, telegram, or in person by directors,
officers, and other regular employees of the Company or of the Bank. Should the Company, in order
to solicit Proxies, request the assistance of other financial institutions, brokerage houses, or
other custodians, nominees, or fiduciaries, the Company will reimburse such persons for their
reasonable expenses in forwarding proxy materials to Shareholders and obtaining their Proxies.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Annual Report of the Company for the fiscal year ended December&nbsp;31, 2004, incorporating
the Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission, is
being sent to Shareholders with this Proxy Statement.

<!-- link1 " SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth certain information with respect to persons known to the
Company to own beneficially more than 5% of the outstanding shares of common stock of the Company
as of March&nbsp;23, 2005 (except as otherwise indicated).

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Number of Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Name and Address</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>of Common Stock</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>of Beneficial Owner</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Beneficially Owned</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Percent of Class</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Barclays Global Investors, NA/
Barclays Global Fund Advisors
45 Freemont Street
San Francisco, CA 94105</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1,707,651 (1)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5.63%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>Based solely on information contained in Schedule&nbsp;13G filed with the Securities
and Exchange Commission on February&nbsp;14, 2005, Barclays Global Investors, NA and
Barclays Global Fund Advisors collectively have sole voting power with respect to
1,568,621 shares and sole dispositive power with respect to all shares listed.</TD>
</TR>

</TABLE>

<!-- link1 " ITEM 1: ELECTION OF DIRECTORS AND INFORMATION WITH" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>ITEM 1: ELECTION OF DIRECTORS AND INFORMATION WITH</B>


<DIV align="center" style="font-size: 10pt"><B>RESPECT TO DIRECTORS AND EXECUTIVE OFFICERS</B></DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The first Item to be acted upon at the Meeting is the election of four directors, each to hold
office for three years and until his successor shall have been duly elected and qualified.
Pursuant to the Company&#146;s Bylaws, William N. Sloan retired from the Board effective as of December
31, 2004. In addition, Saul Kaplan, whose term of office expires as of the date of the Meeting,
will not stand for reelection at the Meeting. As a result, Lee T. Hirschey, who is presently
serving a term of office to expire in 2006, will stand for election with the other nominees listed
below (each of whom is presently serving a term of office to expire as of the date of the Meeting)
in order to maintain membership among the three classes as nearly equal as possible in accordance
with the Company&#146;s Certificate of Incorporation and Bylaws. The nominees receiving a plurality of
the votes represented in person or by proxy at the Meeting will be elected directors.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Proxies in proper form which are received by the Board prior to the election of directors
at the Meeting will be voted &#147;FOR&#148; the nominees listed below, unless authority is withheld in the
space provided on the enclosed Proxy. Each nominee is presently a director of the Company, and
each director of the Company is also a director of the Bank. In the event any nominee declines or
is unable to serve, it is intended that the Proxies will be voted for a successor nominee
designated by the Board. All nominees have indicated a willingness to serve, and the Board knows
of no reason to believe that any nominee will decline or be unable to serve if elected. The
thirteen members of the Board whose terms will continue beyond the meeting (including the nominees
for re-election at the Meeting, if elected) are expected to continue to serve on the Board until
their respective terms expire.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information set forth below is furnished for each nominee for director to be elected at
the Meeting and each director of the Company whose term of office continues after the Meeting. The
share ownership numbers for certain directors include shares that would be issuable upon exercise
of &#147;Offset Options&#148; granted to these directors in order to reduce the Company&#146;s liability under its
Stock Balance Plan. The purpose of the Offset Options is explained on pages 10-11. See footnote
&#147;(e)&#148; on page 6 for the number of currently exercisable stock options (including, without
limitation, Offset Options) held by specific directors.



<P align="center" style="font-size: 10pt">2
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "NOMINEES FOR DIRECTOR AND DIRECTORS CONTINUING IN OFFICE" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="center" style="font-size: 10pt"><B>NOMINEES FOR DIRECTOR AND DIRECTORS CONTINUING IN OFFICE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Shares of Company Common</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Director of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Business</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Stock Beneficially Owned (c)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"> <B>Name and</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>the Company</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Experience During</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>as of March 23, 2005 (d)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"> <B>Age (a)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Since</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Past Five Years (b)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Number(e)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Percent</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left"><B>Nominees (for terms to expire at Annual Meeting in 2008):</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Brian
R. Ace (f)<BR>
Age 50
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2003</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Owner, Laceyville Hardware,
Laceyville,
Pennsylvania.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">53,484</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.18</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Paul
M. Cantwell, Jr.<BR>
Age 63
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2001</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Owner, law firm of
Cantwell &#038;
Cantwell, Malone,
New York. Prior to
January&nbsp;2001,
Chairman and
President, The
Citizens National
Bank of Malone.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">123,650</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.41</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William
M. Dempsey<BR>
Age 66
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1984</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Retired. Prior to
2001, Assistant to
the President,
Rochester Institute
of Technology,
Rochester, New
York; President/Dean,
American
College
of Management and
Technology (RIT),
Dubrovnik, Croatia
(August&nbsp;1997 - July
1999); prior to
August&nbsp;1997, Vice
President
of Finance and
Administration,
RIT.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">111,719</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.37</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lee
T. Hirschey<BR>
Age 69
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1991</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman and Chief
Executive Officer,
Climax
Manufacturing
Company, converter
and manufacturer of
paper products with
facilities in
Castorland,
Lowville, and West
Carthage, New York.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">90,200</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.30</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left"><B>Directors Continuing in Office</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left"><B>Terms Expiring at Annual Meeting in 2006:</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Sanford
A. Belden<BR>
Age 62
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1992</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and Chief
Executive Officer
of
the Company.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">106,683</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.35</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Shares of Company Common</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Director of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Business</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Stock Beneficially Owned (c)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"> <B>Name and</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>the Company</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Experience During</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>as of March 23, 2005 (d)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"> <B>Age (a)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Since</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Past Five Years (b)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Number(e)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Percent</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David
C. Patterson<BR>
Age 63
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1991</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President and owner
of Wight and
Patterson, Inc.,
manufacturer and
seller of livestock
feed located in
Canton, New York.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">125,566</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.41</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Peter
A. Sabia (h)<BR>
Age 73
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2001</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Owner, Valley Dodge
Truck Center,
Dunmore,
Pennsylvania.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">260,765</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.86</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Sally
A. Steele (f)<BR>
Age 49
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2003</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attorney,
self-employed as
general
practitioner with
concentration in
real
estate and elder
law, Tunkhannock,
Pennsylvania.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">47,838</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.16</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left"><B>Terms expiring at Annual Meeting in 2007:</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John
M. Burgess<BR>
Age 68
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1991</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Retired. Prior to
1991, President of
Kinney Drugs, Inc.,
a drug and retail
chain with stores
located throughout
northern New York.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">98,832</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.33</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Nicholas
A. DiCerbo<BR>
Age 58
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1984</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Partner, law firm
of DiCerbo and
Palumbo, Olean, New
York.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">274,982</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.90</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James
A. Gabriel<BR>
Age 57
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1984</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Owner, law firm of
Franklin &#038; Gabriel,
Ovid, New York
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">178,884</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.59</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Harold Kaplan (h)<BR>
Age 71
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2001</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Co-owner, M.C.F.,
Inc., and Partner,
D&#038;T Real Estate,
Scranton,
Pennsylvania.
Prior to April
2003, Co-Owner,
Montage Foods,
Inc., Scranton,
Pennsylvania.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">293,952</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.97</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Charles
E. Parente (g)<BR>
Age 64
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2004</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive
Officer of Pagnotti
Enterprises, Inc.,
a diversified
holding company
whose primary
business includes
workers&#146;
compensation
insurance, real
estate, anthracite
coal mining
preparation and
sales, and cable
television.
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">199,462</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.66</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">4
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">In addition to the information provided above, the following summarizes the security ownership of the
highest paid executive officers who are not also directors of the Company:


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Shares of Company Common</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Stock Beneficially Owned (c)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>as of March 23, 2005 (d)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Number (e)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Percent</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James A. Wears
<BR>Age 55
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President, New York Banking
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">83,114</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.27</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Michael A. Patton
<BR>Age 59
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President, Financial Services
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">143,380</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.47</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Mark E. Tryniski
<BR>Age 44
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President/<BR>Chief Operating Officer
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,534</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.02</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Thomas A.
McCullough
<BR>Age 58
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President, Pennsylvania<BR>
Banking
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">79,825</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.26</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Number of shares of Company common stock beneficially
owned by all directors, persons chosen to become
directors and executive officers of the Company as a
group (28 persons)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,519,708</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8.08</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">No family relationships exist between any of the aforementioned directors or
executive officers of the Company.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">No nominee for director or continuing director of the Company holds a directorship with any
company (other than the Company) which is registered pursuant to Section&nbsp;12 or subject to the
requirements of Section 15(d) of the Securities Exchange Act of 1934, or with any company
which is a registered investment company under the Investment Company Act of 1940.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Represents all shares as to which named individual possessed sole or shared voting or
investment power as of March&nbsp;23, 2005. Includes shares held by, in the name of, or in trust
for, spouse and dependent children of named individual and other relatives living in the same
household, even if beneficial ownership has been disclaimed as to any of these shares by the
nominee or director.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(d)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The listed amounts include shares as to which certain directors and named executive
officers are beneficial owners but not the sole beneficial owners as follows: Mr.&nbsp;Belden is
the beneficial owner of 2,131 shares held by the Company&#146;s 401(k) plan; Mr.&nbsp;Burgess&#146; wife
holds 7,200 shares; Mr.&nbsp;Cantwell&#146;s wife holds 10,200 shares; Mr.&nbsp;DiCerbo holds 59,832 shares
jointly with his wife, 86,005 shares are held in the name of the law partnership of DiCerbo
and Palumbo, and 1,667 shares are held by his wife; Mr.&nbsp;Hirschey&#146;s wife holds 2,000 shares,
and Mr.&nbsp;Hirschey holds 26,080 shares as Trustee for the Retirement Plan of Employees of
Climax Manufacturing Company and 700 shares as Trustee of an Internal Revenue Code Section
2503C trust; 86,576 shares are held by a limited partnership controlled by Mr.&nbsp;Kaplan, and
4,000 shares are held by a charitable foundation of which Mr.&nbsp;Kaplan serves as President,
Treasurer, and Director; Mr.&nbsp;McCullough holds 108 shares jointly with his spouse and 630
shares jointly with his mother, and his children hold 222 shares; Mr.&nbsp;Parente holds 10,000
shares as Trustee of the C.E. Parente Trust U/A, his wife holds 3,000 shares, and 182,858
shares are held by a partnership controlled by Mr.&nbsp;Parente; Mr.&nbsp;Patterson holds 4,760 shares
jointly with his wife, and 3,276 shares as Trustee for the Wight and Patterson Retirement
Plan; Mr.&nbsp;Patton is the beneficial owner of 8,198 shares held by the Company&#146;s 401(k) plan,
and his wife holds 2,800 shares; Mr.&nbsp;Sabia holds 180,000 shares as Trustee for the Peter A.
Sabia Trust U/A, he holds 6,120 shares as Trustee for the Sabia Family</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">5
</DIV>

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<P><HR noshade><P>
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Foundation, and 58,747 shares are held by Valley Dodge Truck Center, of which Mr.&nbsp;Sabia is
owner; Ms.&nbsp;Steele holds 42,514 shares jointly with her husband; and Mr.&nbsp;Wears is the
beneficial owner of 10,872 shares held by the Company&#146;s 401(k) plan, he holds 6,234 shares
jointly with his wife, and his children hold 5,398 shares.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(e)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Includes shares that the following individuals currently have the right to acquire, or will
have the right to acquire within 60&nbsp;days of March&nbsp;23, 2005, through exercise of stock options
issued by the Company: Mr.&nbsp;Ace, 24,710 shares; Mr.&nbsp;Belden, 12,324 shares; Mr.&nbsp;Burgess, 71,192
shares; Mr.&nbsp;Cantwell, 12,924 shares; Mr.&nbsp;Dempsey, 108,496 shares; Mr.&nbsp;DiCerbo, 110,932
shares; Mr.&nbsp;Gabriel, 111,562 shares; Mr.&nbsp;Hirschey, 48,736 shares; Mr.&nbsp;Kaplan, 8,124 shares;
Mr.&nbsp;Parente, 3,604 shares; Mr.&nbsp;Patterson, 102,254 shares; Mr.&nbsp;Patton, 54,888 shares; Mr.
Sabia, 3,604 shares; Ms.&nbsp;Steele, 3,604 shares; Mr.&nbsp;Tryniski, 5,934 shares; and Mr.&nbsp;Wears,
60,610 shares. These shares are included in the total number of shares outstanding for the
purpose of calculating the percentage ownership of the foregoing individuals and of the group
as a whole, but not for the purpose of calculating the percentage ownership of other
individuals listed in the foregoing table.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(f)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Pursuant to the terms of a Merger Agreement dated as of June&nbsp;7, 2003 providing for the
merger of Grange National Banc Corp. (&#147;Grange&#148;) with and into the Company (which merger was
consummated in November&nbsp;2003), the Company agreed to appoint two of Grange&#146;s former
directors, Brian R. Ace and Sally A. Steele, to serve as members of its Board of Directors
for terms expiring at the 2005 and 2006 annual Shareholders meetings, respectively.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(g)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Pursuant to the terms of a Merger Agreement dated as of March&nbsp;11, 2004 providing for the
merger of First Heritage Bank with and into the Bank (which merger was consummated in May
2004), the Company agreed to appoint one of First Heritage Bank&#146;s former shareholders,
Charles E. Parente, to serve as a member of the Company&#146;s Board of Directors for a term
expiring at the 2007 annual Shareholders meeting. The Merger Agreement further provided
that, subject to the exercise of the Board&#146;s fiduciary duty, Mr.&nbsp;Parente would be nominated
for at least one additional three-year term upon expiration of his initial term, and that the
Board would recommend that the Company&#146;s Shareholders vote in favor of his reelection.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(h)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Pursuant to the terms of a Merger Agreement dated as of November&nbsp;29, 2000 providing for the
merger of First Liberty Bank Corp. (&#147;First Liberty&#148;) with and into the Company (which merger
was consummated in May&nbsp;2001), the Company agreed to appoint three of First Liberty&#146;s former
directors, Saul Kaplan, Peter A. Sabia, and Harold Kaplan, to serve as members of its Board
of Directors for terms expiring at the 2002, 2003, and 2004 annual Shareholders meetings,
respectively. The Merger Agreement further provided that, subject to the exercise of the
Board&#146;s fiduciary duty, Messrs.&nbsp;Kaplan, Sabia, and Kaplan would be nominated for at least one
additional three-year term upon expiration of these initial terms, and that the Board would
recommend that the Company&#146;s Shareholders vote in favor of their reelection. Saul Kaplan&#146;s
current term of office will expire as of the date of the Meeting, and he will not stand for
reelection.</TD>
</TR>

</TABLE>


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<P align="center" style="font-size: 10pt"><B>BOARD COMPOSITION, MEETINGS, COMMITTEES, AND COMPENSATION</B>



<P align="left" style="font-size: 10pt"><U><B>Independence</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has adopted a set of Corporate Governance Guidelines, a copy of which is available
on the Company&#146;s website at www.communitybankna.com. The Corporate Governance Guidelines require
that the Company&#146;s Board of Directors have at all times a majority of directors who meet the
criteria for independence established by the New York Stock Exchange (&#147;NYSE&#148;), and the Board
currently meets this requirement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the NYSE rules, to be considered independent, the Board must determine that a director
does not have a direct or indirect material relationship with the Company. Moreover, a director
will not be independent if, within the preceding three years: (i)&nbsp;the director was employed by the
Company or receives $100,000 per year in direct compensation from the Company, other than director
and committee fees and pension or other forms of deferred compensation for prior service, (ii)&nbsp;the
director was a partner of or employed by the Company&#146;s independent auditor, (iii)&nbsp;the director is
part of an interlocking directorate in which an executive officer of the Company serves on the
compensation committee of another company that employs the director, (iv)&nbsp;the director is an
executive officer or employee of another company that makes payments to, or receives payments from,
the Company for property or services in an amount which, in any single fiscal year, exceeds the
greater of $1&nbsp;million or 2% of the other company&#146;s consolidated gross revenues, or (v)&nbsp;the director
had an immediate family member in any of the categories in (i)-(iv).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board has determined that 11 of the 14 current directors are independent under the NYSE
standards. The independent directors are Brian R. Ace, John M. Burgess, William M. Dempsey, James
A. Gabriel, Lee T. Hirschey, Harold S. Kaplan, Saul Kaplan, David C. Patterson, Charles E. Parente,
Peter A. Sabia, and Sally A. Steele. In determining whether a director is independent, the Board
relies on the NYSE numeric threshold standards as the primary factor in determining whether a
director has any material relationship with the Company, but also considers whether a director has
any relationships not meeting the NYSE thresholds that would otherwise interfere with the exercise
of his or her independence from management and the Company. During the course of a year, directors
are expected to inform the Board of any material changes in their circumstances or relationships
that may impact their status or designation by the Board as independent.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Corporate Governance Guidelines, the Company&#146;s independent directors meet in
executive session at least quarterly, without the Company&#146;s management and non-independent
directors present. The director who presides at these meetings is determined by the Board on the
recommendation of the Nominating and Corporate Governance Committee.


<P align="left" style="font-size: 10pt"><U><B>Director Meeting Attendance</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors held 12 regularly scheduled meetings and one special meeting during the
fiscal year ended December&nbsp;31, 2004. During this period, each director of the Company attended at
least 75% of the aggregate of the total number of meetings of the Board and the total number of
meetings held by committees of the Board on which he or she served.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company encourages all directors to attend each annual meeting of Shareholders. All of
the then 15 incumbent directors attended the Company&#146;s last annual meeting of Shareholders held on
May&nbsp;19, 2004.


<P align="center" style="font-size: 10pt">7
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt"><U><B>Board Committees</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Among its standing committees, the Board of the Bank has an Audit/Compliance/Risk Management
Committee which also serves as the Company&#146;s Audit Committee. As described more fully on page 24,
the Audit/Compliance/Risk Management Committee reviews internal and external audits of the Company
and the Bank and the adequacy of the Company&#146;s and the Bank&#146;s accounting, financial, and compliance
controls, and investigates and makes recommendations to the Company&#146;s Board and the Bank&#146;s Board
regarding the appointment of independent auditors. The Audit/Compliance/Risk Management Committee
held eight meetings during 2004, and its present members are Directors William M. Dempsey (Chair),
John M. Burgess, Lee T. Hirschey, and Charles E. Parente.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bank&#146;s Board also has a Compensation Committee which reviews and makes recommendations to
the Bank&#146;s Board regarding compensation adjustments and employee benefits to be instituted, and
which also serves as the Company&#146;s Compensation Committee. As described more fully on pages 20-22,
the Compensation Committee reviews the compensation of nonofficer employees in the aggregate, and
the salaries and performance of executive officers are reviewed individually. The Compensation
Committee held six meetings in 2004, and its present members are Directors Lee T. Hirschey (Chair),
Brian R. Ace, David C. Patterson, and Peter A. Sabia.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has a Nominating and Corporate Governance Committee which makes recommendations to
the Board for nominees to serve as Directors. The Nominating and Corporate Governance Committee
held four meetings in 2004, and its present members are Directors William M. Dempsey (Chair), Brian
R. Ace, John M. Burgess, Lee T. Hirschey, and David C. Patterson. The Board has determined that
each of the Nominating and Corporate Governance Committee&#146;s members is &#147;independent&#148; as defined by
the NYSE Rules.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Nominating and Corporate Governance Committee will consider written recommendations from
Shareholders for nominees to serve on the Board that are sent to the Secretary of the Company at
the Company&#146;s main office. In considering candidates for the Board, the Nominating and Corporate
Governance Committee and the Board consider the entirety of each candidate&#146;s credentials and do not
have any specific minimum qualifications that must be met by a nominee. Factors considered
include, but are not necessarily limited to, outstanding achievement in a candidate&#146;s personal
career; broad experience; wisdom; integrity; ability to make independent, analytical inquiries;
understanding of the business environment; and willingness to devote adequate time to Board duties.
The Board believes that each director should have a basic understanding of (i)&nbsp;the principal
operational and financial objectives and plans and strategies of the Company, (ii)&nbsp;the results of
operations and financial condition of the Company and of any significant subsidiaries or business
segments, and (iii)&nbsp;the relative standing of the Company and its business segments in relation to
its competitors. Prior to nominating an existing director for re-election to the Board, the Board
and the Nominating and Corporate Governance Committee consider and review, among other relevant
factors, the existing director&#146;s meeting attendance and performance, length of Board service,
ability to meet regulatory independence requirements, and the experience, skills, and contributions
that the director brings to the Board. The Nominating and Corporate Governance Committee has
adopted a written charter setting forth its composition and responsibilities, a copy of which is
available at the Company&#146;s website at www.communitybankna.com.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The President and Chief Executive Officer of the Company serves as an ex officio member of all
Board committees except the Audit/Compliance/Risk Management Committee, the Compensation Committee,
and the Nominating and Corporate Governance Committee, and receives no compensation for serving in
this capacity. Mr.&nbsp;Gabriel, as Chair of the Board, also serves as a member of all Board Committees
except the Audit/Compliance/Risk Management Committee, the Compensation Committee, and the
Nominating and Corporate Governance Committee.



<P align="center" style="font-size: 10pt">8
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt"><U><B>Communication with Directors</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders may communicate directly with the Board of Directors of the Company by sending
correspondence to the address shown below. The receipt of any such correspondence addressed to the
Board of Directors and the nature of its content will be reported at the next Board meeting and
appropriate action, if any, will be taken. If a Shareholder desires to communicate with a specific
director, the correspondence should be addressed to that director. Correspondence addressed to a
specific director will be delivered to the director promptly after receipt by the Company. The
director will review the correspondence received and, if appropriate, report the receipt of the
correspondence and the nature of its content to the Board of Directors at its next meeting, so that
the appropriate action, if any, may be taken.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Correspondence should be addressed to:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Community Bank System, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: &#091;Board of Directors or Specific Director&#093;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5790 Widewaters Parkway</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">DeWitt, New York 13214-1883</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><U><B>Compensation of Directors</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As directors of both the Company and the Bank, Board members receive an annual retainer of
$10,000, $750 for each Board meeting they attend, and $500 for each committee meeting they attend.
Mr.&nbsp;Belden does not receive an annual retainer or compensation for attending Board and committee
meetings. The Chair of the Board receives an all inclusive $55,000 retainer for serving in that
capacity. The Chair of the Audit/Compliance/Risk Management Committee receives an annual retainer
of $5,000; the Chairs of the Loan Committee, the Compensation Committee, and the
Strategic/Executive Committee each receive an annual retainer of $3,500; and the Chairs of the
Investment Committee, the Nominating and Corporate Governance Committee, the Operations/Technology
Committee, and the Trust Committee each receive an annual retainer of $1,000. The Company pays the
travel expenses incurred by each director in attending meetings of the Board.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors may elect to defer all or a portion of their director fees pursuant to a Deferred
Compensation Plan for Directors. Directors who elect to participate in the Plan designate the
percentage of their director fees which they wish to defer (the &#147;deferred fees&#148;) and the date to
which they wish to defer payment of benefits under the plan (the &#147;distribution date&#148;). The plan
administrator establishes an account for each participating director and credits to such account
(i)&nbsp;on the date a participating director would have otherwise received payment of his or her
deferred fees, the number of deferred shares of Company common stock which could have been
purchased with the deferred fees, and (ii)&nbsp;from time to time such additional number of deferred
shares which could have been purchased with any dividends which would have been received had shares
equal to the number of shares credited to the account actually been issued and outstanding. On the
distribution date, the participating director shall be entitled to receive shares of Company common
stock equal to the number of deferred shares credited to the director&#146;s account either in a lump
sum or in annual installments over a three, five or ten year period. The effect of the plan is to
permit directors to invest deferred director fees in stock of the Company, having the benefit of
any stock price appreciation and dividends as well as the risk of any decrease in the stock price.
To the extent that directors participate in the plan, the interests of participating directors will
be more closely associated with the interests of Shareholders in achieving growth in the Company&#146;s
stock price.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consistent with the &#147;Blue Ribbon Report&#148; issued by the National Association of Corporate
Directors, which suggests that director compensation be structured so that it is specifically
aligned with the long-term interests of Shareholders, the Company&#146;s 2004 Long-Term Incentive
Compensation Program (the &#147;2004 Incentive Plan&#148;) allows for the issuance of Non-Statutory Stock
Options to nonemployee directors.


<P align="center" style="font-size: 10pt">9
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">The Board believes that providing for the grant of Non-Statutory Stock Options to nonemployee
directors is in the best interests of the Company. In the spirit of the Blue Ribbon Report, such a
provision more closely aligns the interests of individual directors with the long-term interests of
the Company&#146;s Shareholders, and enables the Company to continue to attract qualified individuals to
serve on the Board. In particular, when directors receive equity-based compensation such as stock
options, their overall compensation is enhanced when the market price of the Company&#146;s common stock
increases and is adversely affected when the market price of the Company&#146;s common stock decreases.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The 2004 Incentive Plan provides that each eligible nonemployee director is to receive an
option to purchase 2,320 shares of common stock on or about January 1st of his or her first year as
a director, and an option to purchase 4,000 shares on or about each January 1 thereafter. Each
option granted to a nonemployee director is granted at an option price per share equal to the
market value per share of the Company&#146;s common stock on the date of grant, and is fully exercisable
on its date of grant, provided that shares of common stock acquired pursuant to the exercise of
such options may not be sold or otherwise transferred by a director within six months of the grant.
Each option is exercisable until the earlier of (i)&nbsp;ten years from the date of grant, or (ii)
termination of the optionee&#146;s service on the Board for cause (as defined in the 2004 Incentive
Plan). Notwithstanding the foregoing, to the extent that the Committee appointed by the Board to
administer the 2004 Incentive Plan determines that grants may be exempt from Section 16(b) of the
Securities Exchange Act of 1934, as amended, the Non-Statutory Stock Options granted to eligible
nonemployee directors shall relate to a number of shares of common stock to be determined based
upon the financial performance of the Company. Such financial performance shall be determined
based upon factors including (but not limited to) the Company&#146;s growth in earnings per share, asset
quality, return on equity, and CAMELS rating (a measurement of capital, assets, management,
earnings, liquidity, and sensitivity utilized by the Office of the Comptroller of the Currency, the
Bank&#146;s primary regulator). Pursuant to the 2004 Incentive Plan, each eligible nonemployee director
received an option to purchase 4,520 shares effective January&nbsp;21, 2004.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, in keeping with the spirit of the Blue Ribbon Report, effective January&nbsp;1, 1996,
the Board adopted a &#147;Stock Balance Plan&#148; for nonemployee directors of the Company who have
completed at least six months of service as director. The plan establishes an account for each
eligible director. Amounts credited to those accounts reflect the value of 200 shares of the
Company&#146;s common stock for each year of service between 1981 and 1995 at the December&nbsp;31, 1995
market value, plus an annual amount equal to 200 additional shares of common stock beginning in
1996, plus an annual earnings credit equal to the one-year average total return on the Company&#146;s
common stock. The crediting of additional units beginning in 1996 is subject to an adjustment
factor which reflects the Company&#146;s asset quality, return on equity, and CAMELS rating. The
account balance is payable to each director in the form of a lifetime annuity or, at the election
of the director, monthly installment payments over a three, five, or ten year period following the
later of age 55 or disassociation from the Board, is subject to a six-year vesting schedule, and is
forfeitable in the event of termination from the Board for cause.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The 2004 Incentive Plan allows the grant of &#147;Offset Options&#148; to directors. The effect of
these Offset Options is to permit the Company to reduce the grantee&#146;s Stock Balance Plan account
balance by an amount equal to the growth in value of the Offset Options (i.e., the amount by which
the aggregate fair market value of the common stock underlying the Offset Options exceeds the
aggregate exercise price of the Offset Options) as of the date on which the director&#146;s account is
valued, provided that a director&#146;s account may not be reduced below zero. As such, the Offset
Options are not intended to materially change the level of compensation to participating directors
under the Stock Balance Plan, but are intended to reduce the cost of director compensation to the
Company. In the event that the growth in value of a director&#146;s Offset Options is less than the
value of the director&#146;s Stock Balance Plan account as of the date that the Offset Options are
exercised, the shortfall will be paid to the director either in cash or, at the Company&#146;s option in
the case of an exercise prior to retirement, by the issuance of additional Offset


<P align="center" style="font-size: 10pt">10
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">Options. In the event that the growth in value of a director&#146;s Offset Options exceeds the
value of the director&#146;s Stock Balance Plan account, no adjustment will be made.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Bank has a consulting agreement with Paul M. Cantwell, Jr., a director of the Company and
the Bank and the former Chairman and President of Citizens National Bank of Malone. Under this
agreement, Mr.&nbsp;Cantwell will provide consulting services to the Bank until January&nbsp;26, 2006 to
facilitate the transition of Citizens National Bank&#146;s business and operations to the Bank, develop
new business opportunities in the market areas formerly served by Citizens National Bank, and
advise the Bank regarding corporate and business matters. Mr.&nbsp;Cantwell will provide these services
on a part-time basis (not to exceed 250 hours per year), and will be paid $50,000 per year. This
amount is to paid on a &#147;grossed-up&#148; basis for any Medicare and social security taxes (but not
federal, state or local income taxes) payable by Mr.&nbsp;Cantwell on the amount. This means that in
effect the Company will pay his Medicare and social security taxes. Pursuant to the agreement, the
Bank has also agreed to pay the premiums for a life insurance policy for Mr.&nbsp;Cantwell&#146;s
beneficiaries. This policy must provide coverage for no less than the remaining payments due under
the consulting agreement. Finally, the Bank will make available health insurance coverage for Mr.
Cantwell and his spouse on the same basis as its employees until age 65 and, thereafter, on the
same basis as other retirees of the Bank.


<P align="center" style="font-size: 10pt">11
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 " COMPENSATION OF EXECUTIVE OFFICERS" -->
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<P align="center" style="font-size: 10pt"><B>COMPENSATION OF EXECUTIVE OFFICERS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth information concerning compensation paid to those persons who
served as chief executive officer (or in an equivalent capacity) during 2004 and to the other most
highly compensated executive officers whose annual salary and bonus earned during 2004 exceeded
$100,000.

<!-- link1 " SUMMARY COMPENSATION TABLE" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SUMMARY COMPENSATION TABLE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">Long-Term</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="14" style="border-bottom: 1px solid #000000">Annual Compensation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Compensation Awards</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Other Annual</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Restricted</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">All Other</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Name and</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Compensation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Stock Awards</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Stock</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Compensation</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Principal Position</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Salary ($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Bonus ($) (1)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($) (2)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($) (3)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Options (#)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($)&nbsp;(4)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sanford A. Belden</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">522,648</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">261,324</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,860</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43,158</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">399,847</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">President and Chief</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">503,758</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">287,847</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,303</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47,754</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">493,198</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Executive Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">485,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">242,775</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,055</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,680</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">361,997</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">James A. Wears</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">228,238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68,471</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,285</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">118,886</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">President, New York Banking</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">219,988</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">89,557</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">87,546</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">188,926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,555</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,290</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,008</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael A. Patton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">228,238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68,471</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,491</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76,419</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">President, Financial Services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">219,988</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">89,557</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,512</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">99,679</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">188,926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,746</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,290</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51,271</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mark E. Tryniski (5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">250,002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,359</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Executive Vice President/</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">129,808</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,432</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">277</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chief Operating Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Thomas A. McCullough (5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">192,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">123,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,426</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,780</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">365,572</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">President, Pennsylvania</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,788</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">430,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">294</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Banking</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" align="left">&nbsp;</TD>
   <TD width="3%">&nbsp;</TD>
    <TD width="99%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The amounts shown in this column for Messrs.&nbsp;Belden, Wears, Patton, and Tryniski
reflect payments under the Company&#146;s Management Incentive Plan, an annual cash award plan based on
performance and designed to provide incentives for employees. The amounts shown in this column for
Mr.&nbsp;McCullough reflect: (a)&nbsp;for 2004, an award under the Management Incentive Plan and payment of a
$75,000 retention bonus pursuant to the terms of the Grange acquisition, and (b)&nbsp;for 2003, payment
of a signing bonus to Mr.&nbsp;McCullough in satisfaction of obligations to him under his former
employment agreement with Grange.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" align="left">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The amounts disclosed in this column include the reportable value of the personal use of
Company-owned vehicles for Messrs.&nbsp;Belden, Wears, Patton, Tryniski, and McCullough.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" align="left">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Indicates dollar value of restricted stock awards based upon the market value of the
company stock on the date of grant. As of December&nbsp;31, 2004, Mr.&nbsp;McCullough held 200 shares of
restricted stock with a then current market value of $5,650. Grantees of restricted stock entitled
to receive dividends payable on their restricted stock holdings. The 200 shares of restricted
stock granted to Mr.&nbsp;McCullough on August&nbsp;18, 2004 vest in two equal installments on January&nbsp;1,
2005 and January&nbsp;1, 2006.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" align="left"> &nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The amounts in this column include: (a)&nbsp;the value of group term life insurance benefits in
excess of $50,000 under a plan available to all full-time employees for which Messrs.&nbsp;Belden,
Wears, Patton, Tryniski, and McCullough received $4,357, $1,962, $1,962, $547, and $1,092 in 2004,
respectively; (b)&nbsp;Company contributions to the Employee Savings and Retirement Plan, a defined
contribution plan, amounting to $6,150 for Mr.&nbsp;Belden, $6,150 for Mr.&nbsp;Wears, $6,150 for Mr.&nbsp;Patton,
$3,250 for Mr.&nbsp;Tryniski, and $3,323 for Mr.&nbsp;McCullough in 2004, respectively; (c)&nbsp;Company
contributions under the Company&#146;s Deferred Compensation Plan, amounting to $26,753
for Mr.&nbsp;Belden, $12,639 for Mr.&nbsp;Wears, $12,639 for Mr.&nbsp;Patton, $4,993 for Mr.&nbsp;Tryniski, and
$9,140 for Mr.&nbsp;McCullough in 2004; and (d)&nbsp;the expense associated with supplemental retirement
plans, amounting to $362,587 for Mr.&nbsp;Belden, $98,135 for Mr.&nbsp;Wears, $55,668 for Mr.&nbsp;Patton, $8,569
for Mr.&nbsp;Tryniski, and $352,017 for Mr.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">12
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">McCullough in 2004. The Company does not maintain any
&#147;split-dollar&#148; arrangements for the named executive officers.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(5)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Mr.&nbsp;Tryniski joined the Company in June&nbsp;2003. Mr.&nbsp;McCullough joined the Company in
November&nbsp;2003.</TD>
</TR>

</TABLE>


<!-- link1 " OPTION/SAR GRANTS IN LAST FISCAL YEAR " -->
<DIV align="left"><A NAME="008"></A></DIV>

<P align="center" style="font-size: 10pt"><B>OPTION/SAR GRANTS IN LAST FISCAL YEAR</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table provides further information on grants of stock options pursuant to the
2004 Incentive Plan in fiscal year 2004 to the named executives as reflected in the Summary
Compensation Table on page 12.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">% of Total</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Options</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Granted to</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercise</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Market</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">Potential Realizable Value at</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Employees</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">or Base</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Value on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">Assumed Annual Rates of Stock Price</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Options</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">in Fiscal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Price</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Expiration</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Grant Date</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Appreciation for Option Term($)</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Granted (#)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($/Sh)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Date</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">($/Sh)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">5%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">10%</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sanford A. Belden</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43,158</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">6.45</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/21/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">655,476</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,661,103</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">James A. Wears</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.19</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/21/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">222,896</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">564,862</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael A. Patton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.19</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/21/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">222,896</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">564,862</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mark E. Tryniski</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.19</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1/21/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">222,896</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">564,862</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Thomas A. McCullough</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">N/A</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective January&nbsp;21, 2004, the Board of Directors issued incentive stock options to
Messrs.&nbsp;Belden, Wears, Patton, and Tryniski at the then current market price of $24.15 per share.
Such options become exercisable over the course of five years, with one-fifth of the options
becoming exercisable on January&nbsp;1, 2005, 2006, 2007, 2008, and 2009.

<!-- link1 " AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR AND FISCAL YEAR-END OPTION/SAR VALUES" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="center" style="font-size: 10pt"><B>AGGREGATED OPTION/SAR EXERCISES IN LAST FISCAL YEAR<BR>
AND FISCAL YEAR&#150;END OPTION/SAR VALUES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table provides information for the named executive officers, with respect to (i)
stock options exercised in fiscal year 2004, (ii)&nbsp;the number of stock options held at the end of
fiscal year 2004, and (iii)&nbsp;the value of in-the-money stock options held at the end of fiscal year
2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">Number of Unexercised</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">Value of Unexercised</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">Options</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">In-the-Money Options</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Acquired on</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Value</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">at 12/31/04 (#)</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">at 12/31/04 ($) (1)</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Name</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Exercise (#)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Realized ($)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Exercisable</TD>
    <TD style="border-bottom: 1px solid #000000" align="right">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000" align="right">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Unexercisable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Exercisable</TD>
    <TD style="border-bottom: 1px solid #000000" align="right">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000" align="right">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Unexercisable</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sanford A. Belden</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,646</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">527,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">139</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145,897</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,752</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,646,340</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">James A. Wears</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">214,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44,912</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,818</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">638,260</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">525,261</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Michael A. Patton</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,402</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">187,581</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,190</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,818</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">558,931</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">525,261</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mark E. Tryniski</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,676</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,885</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">171,712</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Thomas A. McCullough</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">768,724</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,028</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">960,267</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Based on the closing price of the Company&#146;s common stock on December&nbsp;31, 2003 of $28.25
per share.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">13
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<!-- link1 " PENSION PLAN INFORMATION" -->
<DIV align="left"><A NAME="010"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PENSION PLAN INFORMATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company maintains a noncontributory defined benefit pension plan which is funded by the
Company and administered by a committee appointed by the Board of Directors. The plan covers all
employees of the Company who have completed one full year of continuous service, other than
employees covered by a collective bargaining agreement (unless such collective bargaining agreement
expressly provides for plan coverage).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The plan includes two types of benefit formulas: a &#147;traditional&#148; formula and a &#147;cash balance&#148;
formula. The plan also includes certain minimum benefit and supplemental benefit provisions. An
eligible participant earns benefits under either the traditional formula or the cash balance
formula (subject to any applicable minimum or supplemental benefit provisions). Messrs.&nbsp;Wears and
Patton are covered under the traditional formula and Messrs.&nbsp;Belden, Tryniski, and McCullough are
covered under the cash balance formula. Each is covered by one or more minimum or supplemental
benefit provisions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the traditional formula, eligible participants generally accrue benefits based on the
participant&#146;s service and the participant&#146;s average annual compensation for the highest consecutive
five years of plan participation. The following table sets forth the estimated annual benefits
under the plan&#146;s traditional formula adopted for post-1988&nbsp;years of service, payable upon
retirement at age 65 in the form of a single life annuity. The amounts are not subject to any
deduction for Social Security. For purposes of calculating the benefit, an employee may not be
credited with more than 35&nbsp;years of service. The base salary and cash award amounts in the Summary
Compensation Table on page 12 reflect the covered compensation under the plan for Messrs.&nbsp;Wears and
Patton, each of whom has been credited with 33&nbsp;years of service under the plan. The estimated
annual benefit payable upon retirement at normal retirement age under the traditional formula (and
applicable minimum and supplemental benefit provisions) for Messrs.&nbsp;Wears and Patton are $98,162
and $99,767, respectively.

<!-- link1 " PENSION PLAN TABLE " -->
<DIV align="left"><A NAME="011"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PENSION PLAN TABLE</B>



<P align="center" style="font-size: 10pt">YEARS OF SERVICE


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Highest Five</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Year Average</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Compensation (1)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">15</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">20</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">25</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">30</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">35</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">100,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">18,746</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">24,994</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">31,243</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">37,491</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">43,740</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">150,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">30,371</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">40,494</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">50,618</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">60,741</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">70,865</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">200,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">41,996</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">55,994</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">69,993</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">83,991</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">97,990</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">250,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">43,158</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">57,544</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">71,930</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">86,316</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100,702</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">300,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">43,158</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">57,544</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">71,930</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">86,316</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100,702</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">350,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">43,158</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">57,544</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">71,930</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">86,316</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100,702</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">400,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">43,158</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">57,544</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">71,930</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">86,316</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100,702</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">For 2004, the Internal Revenue Code limits the total compensation that may be
taken into account in calculating benefits to $205,000.</TD>
</TR>

</TABLE>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the cash balance formula, benefits are expressed in the form of a hypothetical account
balance. Each year a participant&#146;s cash balance account is increased by (i)&nbsp;service credits based
on the participant&#146;s covered compensation and compensation in excess of the Social Security taxable
wage base for that year, and (ii)&nbsp;interest credits based on the participant&#146;s account balance as of
the end of the prior year. Service
credits accrue at a rate between 5&nbsp;percent and 6.10&nbsp;percent, based on the participant&#146;s age
and date of participation. Pension benefits earned under the cash balance formula may be
distributed as a lump sum or as an annuity. The estimated annual benefit payable upon retirement
at normal retirement age under the cash balance formula (and applicable minimum and supplemental
benefit provisions) for Messrs.&nbsp;Belden, Tryniski, and McCullough are $165,000, $77,331, and
$115,500, respectively.


<P align="center" style="font-size: 10pt">14
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to benefits under the tax-qualified defined benefit pension plan, Messrs.&nbsp;Belden,
Wears, Patton, Tryniski and McCullough earned supplemental retirement benefits pursuant to
individual nonqualified supplemental retirement plan agreements (described on pages 18-20 below).


<P align="left" style="font-size: 10pt"><U><B>Employment Agreements</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sanford A. Belden</U>. The Company has an employment agreement with Mr.&nbsp;Belden providing
for his employment as the Company&#146;s President and Chief Executive Officer until December&nbsp;31, 2007.
The agreement, which was amended as of March&nbsp;1, 2004, provides that during the period from March&nbsp;1,
2004 through December&nbsp;31, 2004, the Company shall pay Mr.&nbsp;Belden a base salary at the annual rate
in effect on February&nbsp;29, 2004, which was $522,648. Mr.&nbsp;Belden&#146;s base salary for calendar years
after 2004 shall be increased at the same rate as the rate applied by the Company in its merit pool
for salary increases to be paid for the applicable calendar year. The agreement may be terminated
by the Board for cause at any time, and shall terminate upon Mr.&nbsp;Belden&#146;s death or disability. If
Mr.&nbsp;Belden&#146;s employment is terminated by the Company prior to December&nbsp;31, 2007 for reasons other
than cause, death, or disability, Mr.&nbsp;Belden will be entitled to severance pay equal to the greater
of (i)&nbsp;the sum of Mr.&nbsp;Belden&#146;s annual base salary at the time of the termination and the most
recent payment to Mr.&nbsp;Belden under the Company&#146;s Management Incentive Plan, or (ii)&nbsp;amounts of base
salary and expected Management Incentive Plan payments that otherwise would have been payable to
Mr.&nbsp;Belden through the unexpired term of his employment (provided that in the event that Mr.
Belden&#146;s involuntary termination without cause occurs under circumstances entitling him to the
change in control benefits described in the following paragraph, the foregoing severance pay shall
be reduced by the consulting fee payments to be made to Mr.&nbsp;Belden as described below). In
addition, Mr.&nbsp;Belden will be permitted to dispose of any restricted stock previously granted to
him, all of his stock options will become fully exercisable, and the Company will cover Mr.&nbsp;Belden
and his eligible dependents under all benefit plans and programs available to its retired
employees. In the event Mr.&nbsp;Belden voluntarily retires prior to December&nbsp;31, 2007 (other than in
connection with a change in control as described below), or in the event Mr.&nbsp;Belden remains
employed pursuant to his agreement through December&nbsp;31, 2007 and retires on that date, the Company
will enter into a separate consulting agreement with him, pursuant to which the Company will retain
him as a consultant for a period of 36&nbsp;months at a compensation rate of $4,000 per month.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Mr.&nbsp;Belden&#146;s employment is terminated for reasons other than cause, death, or disability
within two years following a change of control, or if Mr.&nbsp;Belden voluntarily resigns during this
period based upon an involuntary and material adverse change in his title, duties,
responsibilities, working conditions, total remuneration, or the geographic location of his
assignment, the Company will retain him as a consultant for three years at an annual consulting fee
equal to his base salary plus the award to Mr.&nbsp;Belden under the Management Incentive Plan for the
year immediately preceding the change in control, will reimburse him for any loss incurred on the
sale of his home, will permit him to dispose of any restricted stock previously granted to him, and
all of his stock options will become fully exercisable. As an alternative to retaining Mr.&nbsp;Belden
as a consultant for a three-year period following a change of control, the Board of Directors may
elect, in its sole discretion, to pay all benefits due to Mr.&nbsp;Belden in a single lump sum payment
within 90&nbsp;days following the change of control and Mr.&nbsp;Belden&#146;s termination of employment. The
agreement provides that the amount of any lump sum change in control payment made to Mr.&nbsp;Belden
will be &#147;grossed up&#148; to hold Mr.&nbsp;Belden harmless from all income and excise tax liability
attributable to the payment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>James A. Wears</U>. The Company has an employment agreement with Mr.&nbsp;Wears providing for
his continued employment until December&nbsp;31, 2007. The agreement provides for Mr.&nbsp;Wears to be paid
a base salary to be increased annually at least at the same rate as the rate applied by the Company
in its merit pool for salary increases to be paid for the applicable calendar year. The agreement
may be terminated by the Company for cause at any time, and shall terminate upon Mr.&nbsp;Wears&#146;s death
or


<P align="center" style="font-size: 10pt">15
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">disability. The agreement provides for severance pay, in the event of a termination for reasons
other than cause, death, or disability, equal to the greater of (i)&nbsp;the sum of Mr.&nbsp;Wears&#146;s annual
base salary at the time of termination and the most recent payment to him under the Company&#146;s
Management Incentive Plan, or (ii)&nbsp;amounts of base salary and expected Management Incentive Plan
payments payable to Mr.&nbsp;Wears through the unexpired term of his employment. In addition, if the
agreement is not renewed at the end of its term (other than by reason of Mr.&nbsp;Wears&#146;s refusal to
negotiate or rejection of a bona fide offer from the Company), Mr.&nbsp;Wears is entitled to severance
pay equal to 175% of the sum of his then current base salary plus the most recent payment to him
under the Management Incentive Plan.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Mr.&nbsp;Wears&#146;s employment is terminated for reasons other than cause, death, or disability
within two years following a change of control, or if Mr.&nbsp;Wears voluntarily resigns during this
period based upon an involuntary and material adverse change in his title, duties,
responsibilities, working conditions, total remuneration, or the geographic location of his
assignment, the Company will retain him as a consultant for three years at an annual consulting fee
equal to his then current base salary plus the award to Mr.&nbsp;Wears under the Management Incentive
Plan for the year immediately preceding the change in control, will permit him to dispose of any
restricted stock previously granted to him, and all of his stock options will become fully
exercisable. As an alternative to paying change of control benefits to Mr.&nbsp;Wears over a three-year
period, the Board of Directors may elect, in its sole discretion, to pay all benefits due to Mr.
Wears in a single lump sum payment within 90&nbsp;days following the change of control and Mr.&nbsp;Wears&#146;s
termination of employment. In such event, the amount of the lump sum payment will be increased to
hold Mr.&nbsp;Wears harmless from all income and excise tax liability attributable to the lump sum
payment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Michael A. Patton</U>. The Company has an employment agreement with Mr.&nbsp;Patton providing
for his continued employment until December&nbsp;31, 2007. The agreement provides for Mr.&nbsp;Patton to be
paid a base salary to be increased annually at least at the same rate as the rate applied by the
Company in its merit pool for salary increases to be paid for the applicable calendar year. The
agreement may be terminated by the Company for cause at any time, and shall terminate upon Mr.
Patton&#146;s death or disability. The agreement provides for severance pay, in the event of a
termination for reasons other than cause, death, or disability, equal to the greater of (i)&nbsp;the sum
of Mr.&nbsp;Patton&#146;s annual base salary at the time of termination and the most recent payment to him
under the Company&#146;s Management Incentive Plan, or (ii)&nbsp;amounts of base salary and expected
Management Incentive Plan payments payable to Mr.&nbsp;Patton through the unexpired term of his
employment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Mr.&nbsp;Patton&#146;s employment is terminated for reasons other than cause, death, or disability
within two years following a change of control, or if Mr.&nbsp;Patton voluntarily resigns during this
period based upon an involuntary and material adverse change in his title, duties,
responsibilities, working conditions, total remuneration, or the geographic location of his
assignment, the Company will retain him as a consultant for three years at an annual consulting fee
equal to his base salary plus the award to Mr.&nbsp;Patton under the Management Incentive Plan for the
year immediately preceding the change in control, will permit him to dispose of any restricted
stock previously granted to him, and all of his stock options will become fully exercisable. As an
alternative to paying change of control benefits to Mr.&nbsp;Patton over a three-year period, the Board
of Directors may elect, in its sole discretion, to pay all benefits due to Mr.&nbsp;Patton in a single
lump sum payment within 90&nbsp;days following the change of control and Mr.&nbsp;Patton&#146;s termination of
employment. In such event, the amount of the lump sum payment will be increased to hold Mr.&nbsp;Patton
harmless from all income and excise tax liability attributable to the lump sum payment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Mark E. Tryniski</U>. The Company has an employment agreement with Mr.&nbsp;Tryniski providing
for his continued employment until December&nbsp;31, 2007. The agreement provides that during the
period from June&nbsp;1, 2003 through December&nbsp;31, 2003, the Company shall pay Mr.&nbsp;Tryniski a base
salary at an annual rate of at least $225,000. Mr.&nbsp;Tryniski&#146;s base salary for calendar years after
2003 shall be adjusted in accordance with the Company&#146;s regular payroll practices for executive
employees. The agreement may be terminated by the Company for cause at any time, and shall
terminate upon Mr.&nbsp;Tryniski&#146;s death or


<P align="center" style="font-size: 10pt">16
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">disability. The agreement provides for severance pay, in
the event of a termination for reasons other than cause, death, or disability, equal to the greater
of (i)&nbsp;200% of the sum of Mr.&nbsp;Tryniski&#146;s annual base salary at the time of termination and the most
recent payment to him under the Company&#146;s Management Incentive Plan, or (ii)&nbsp;amounts of base salary
and expected Management Incentive Plan payments payable to Mr.&nbsp;Tryniski through the unexpired term
of his employment. In addition, if the agreement is not renewed at the end of its term (other than
by reason of Mr.&nbsp;Tryniski&#146;s refusal to negotiate or rejection of a bona fide offer from the
Company), Mr.&nbsp;Tryniski is entitled to severance pay equal to 200% of the sum of his then current
base salary plus the most recent payment to him under the Management Incentive Plan.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Mr.&nbsp;Tryniski&#146;s employment is terminated for reasons other than cause, death, or disability
within two years following a change of control, or if Mr.&nbsp;Tryniski voluntarily resigns during this
period based upon an involuntary and material adverse change in his title, duties,
responsibilities, working conditions, total remuneration, or the geographic location of his
assignment, the Company will retain him as a consultant for three years at an annual consulting fee
equal to his then current base salary plus the award to Mr.&nbsp;Tryniski under the Management Incentive
Plan for the year immediately preceding the change in control, will permit him to dispose of any
restricted stock previously granted to him, and all of his stock options will become fully
exercisable. As an alternative to paying change of control benefits to Mr.&nbsp;Tryniski over a
three-year period, the Board of Directors may elect, in its sole discretion, to pay all benefits
due to Mr.&nbsp;Tryniski in a single lump sum payment within 90&nbsp;days following the change of control and
Mr.&nbsp;Tryniski&#146;s termination of employment. In such event, the amount of the lump sum payment will
be increased to hold Mr.&nbsp;Tryniski harmless from all income and excise tax liability attributable to
the lump sum payment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Thomas A. McCullough</U>. The Company has an agreement with Mr.&nbsp;McCullough providing for
his employment as President, Pennsylvania Banking for the Company until December&nbsp;31, 2007. The
agreement provides that during the period from November&nbsp;21, 2003 through December&nbsp;31, 2004, the
Company shall pay Mr.&nbsp;McCullough a base salary at an annual rate of at least $185,000. Mr.
McCullough&#146;s base salary for calendar years after 2004 shall be adjusted in accordance with the
Company&#146;s regular payroll practices for executive employees. Mr.&nbsp;McCullough is also entitled to an
incentive compensation payment, pursuant to the Management Incentive Plan, of at least $45,000 per
year for 2003 and 2004 (prorated for 2003 based on the number of weeks served). In addition, Mr.
McCullough received a $430,000 signing bonus for 2003 in satisfaction of obligations to him under
his former employment agreement with Grange.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The may be terminated by the Company for cause at any time, and shall terminate upon Mr.
McCullough&#146;s death or disability. If Mr.&nbsp;McCullough&#146;s employment is terminated by the Company
prior to December&nbsp;31, 2007 for reasons other than cause, death, or disability, or if Mr.&nbsp;McCullough
is involuntarily replaced as President, Pennsylvania Banking prior to such date for reasons other
than cause, Mr.&nbsp;McCullough will be entitled to severance pay equal to the greater of (i)&nbsp;the sum of
his annual base salary at the time of termination and the most recent payment to him under the
Company&#146;s Management Incentive Plan or (ii)&nbsp;amounts of base salary and expected Management
Incentive Plan payments that otherwise would have been payable to him through the unexpired term of
his employment agreement (provided that in the event that Mr.&nbsp;McCullough&#146;s involuntary termination
without cause occurs under circumstances entitling him to the change in control benefits described
in the following paragraph, the foregoing severance pay shall be reduced by the consulting fee
payments to be made to Mr.&nbsp;McCullough as described below). In addition, Mr.&nbsp;McCullough will be
entitled to dispose of any restricted stock
previously granted to him, all of his stock options will become fully exercisable, and the
Company will cover Mr.&nbsp;McCullough and his eligible dependents under all benefit plans and programs
available to its retired employees. In the event that Mr.&nbsp;McCullough&#146;s agreement is not renewed at
the end of its term for reasons other than cause, Mr.&nbsp;McCullough is entitled to a severance benefit
equal to 175% of his annual base salary in effect at the time of expiration of the agreement, plus
the most recent payment to him under the Management Incentive Plan.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Mr.&nbsp;McCullough&#146;s employment is terminated for reasons other than cause, death, or
disability within two years following a change of control, or if Mr.&nbsp;McCullough voluntarily resigns
during this period based upon an involuntary and material adverse change in his title, duties,
responsibilities, working conditions, total remuneration, or the geographic location of his
assignment, the Company will retain him as a consultant for three years at an annual consulting fee
equal to his base salary plus the award to Mr.&nbsp;McCullough under the Management Incentive Plan for
the year immediately preceding the change in control, will permit him to dispose of any restricted
stock previously granted to him, and all of his stock options will become fully exercisable. As an
alternative to paying change of control benefits to Mr.&nbsp;McCullough over a three-year period, the
Board of Directors may elect, in its sole discretion, to pay all benefits due to Mr.&nbsp;McCullough in
a single lump sum payment within 90&nbsp;days following the change of control and Mr.&nbsp;McCullough&#146;s
termination of employment. In such event, the amount of the lump sum payment will be increased to
hold Mr.&nbsp;McCullough harmless from all income and excise tax liability attributable to the lump sum
payment.


<P align="left" style="font-size: 10pt"><U><B>Supplemental Retirement Plan Agreements</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has Supplemental Retirement Plan Agreements with Messrs.&nbsp;Belden, Wears, Patton,
Tryniski, and McCullough.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sanford A. Belden</U>. Under Mr.&nbsp;Belden&#146;s Supplemental Retirement Plan Agreement, the
Company must provide Mr.&nbsp;Belden with an annual supplemental retirement benefit equal to the product
of (i)&nbsp;5% times Mr.&nbsp;Belden&#146;s number of years of service, considering only the first ten years of
service, plus 2% times Mr.&nbsp;Belden&#146;s number of years of service in excess of ten years, times (ii)
his final average salary and cash incentive payment. Unless Mr.&nbsp;Belden voluntarily terminates his
employment prior to July&nbsp;1, 2006, the amount of Mr.&nbsp;Belden&#146;s annual supplemental retirement
benefits shall not be less than what would be calculated if he remained employed pursuant to his
employment agreement through December&nbsp;31, 2007 and received the base salary, including increases,
and Management Incentive Plan payments (assuming a minimum incentive payment equal to 50% of base
salary under the Company&#146;s Management Incentive Plan) contemplated by the employment agreement.
The supplemental retirement benefit is reduced by the benefit payable under the Company&#146;s pension
plan, 50% of Mr.&nbsp;Belden&#146;s Social Security benefit, and Company contributions on Mr.&nbsp;Belden&#146;s behalf
and earnings attributable thereto under the Company&#146;s 401(k) Employee Stock Ownership Plan and
Deferred Compensation Plan for Certain Executive Employees. The supplemental retirement benefit is
payable upon the later of Mr.&nbsp;Belden&#146;s cessation of employment with the Company or his receipt of
the final payment due under his employment agreement, generally in the form of an actuarially
reduced joint and 100% survivor benefit. Benefits payable in another form are subject to the same
actuarial adjustments as benefits under the Company&#146;s pension plan.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, if Mr.&nbsp;Belden&#146;s employment is terminated for reasons other than
cause, death or disability within two years following a change of control, or if Mr.&nbsp;Belden
voluntarily resigns during this period based upon an involuntary and material adverse change in his
title, duties, responsibilities, working conditions, total remuneration, or the geographic location
of his assignment, the Company must (for purposes of determining his supplemental retirement
benefit described above) (i)&nbsp;credit Mr.&nbsp;Belden with additional years of service equal to the
greater of three years of service or the years of service he is retained as a consultant under the
terms of his employment agreement, (ii)&nbsp;credit
Mr.&nbsp;Belden with two additional years of service, and (iii)&nbsp;determine Mr.&nbsp;Belden&#146;s final five
year average compensation as described above by considering the years he is retained as a
consultant under the terms of the employment agreement as service that precedes his termination and
considering amounts paid to him during that period as salary and cash incentive payments. If the
Board of Directors elects to pay Mr.&nbsp;Belden&#146;s change in control benefit under his employment
agreement in a lump sum, the Company will pay his supplemental retirement benefit in an actuarial
equivalent single lump sum payment within 90&nbsp;days following the change of control and his
termination of employment. The amount of any lump sum



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<P align="left" style="font-size: 10pt">change in control payment made to Mr.&nbsp;Belden will be &#147;grossed up&#148; to hold Mr.&nbsp;Belden harmless
from all income and excise tax liability attributable to the payment.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>James A. Wears and Michael A. Patton</U>. Under the Supplemental Retirement Plan
Agreements for Messrs.&nbsp;Wears and Patton, the Company shall pay the employee an annual supplemental
retirement benefit equal to the excess (if any) of (i)&nbsp;the annual benefit that the employee would
have earned pursuant to the Company&#146;s pension plan if (a)&nbsp;100% of the employee&#146;s annual
compensation that is disregarded for pension plan purposes solely because of the limit imposed by
Internal Revenue Code Section&nbsp;401(a)(17) is added to the amount of the employee&#146;s annual
compensation actually taken into account pursuant to the pension plan and (b)&nbsp;Internal Revenue Code
Section&nbsp;415 is disregarded, minus (ii)&nbsp;the annual benefit actually payable to the employee pursuant
to the pension plan. The supplemental retirement benefit is payable upon the later of the
employee&#146;s cessation of employment with the Company or his receipt of the final payment due under
his employment agreement. The benefit is payable in the form of an actuarially reduced joint and
50% survivor benefit, provided that benefits payable in another form are subject to the same
actuarial adjustments as benefits under the Company&#146;s pension plan.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Mark E. Tryniski</U>. Under the Supplemental Retirement Plan Agreement for Mr.&nbsp;Tryniski,
the Company shall pay Mr.&nbsp;Tryniski an annual supplemental retirement benefit equal to the excess
(if any) of (i)&nbsp;the annual benefit that he would have earned pursuant to the Company&#146;s pension plan
if (a)&nbsp;100% of his annual compensation that is disregarded for pension plan purposes solely because
of the limit imposed by Internal Revenue Code Section&nbsp;401(a)(17) is added to the amount of his
annual compensation actually taken into account pursuant to the pension plan and (b)&nbsp;Internal
Revenue Code Section&nbsp;415 is disregarded, minus (ii)&nbsp;the annual benefit actually payable to him
pursuant to the pension plan. The supplemental retirement benefit is payable upon the later of Mr.
Tryniski&#146;s cessation of employment with the Company, his receipt of the final payment due under his
employment agreement, or his attainment of age 55. The benefit is payable in the form of an
actuarially reduced joint and 50% survivor benefit, provided that benefits payable in another form
are subject to the same actuarial adjustments as benefits under the Company&#146;s pension plan.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Thomas A. McCullough</U>. Under Mr.&nbsp;McCullough&#146;s Supplemental Retirement Plan Agreement,
which was assumed by the Company upon consummation of the merger between the Company and Grange, if
Mr.&nbsp;McCullough retires on or after his 62nd birthday, the Company must provide him with an annual
supplemental retirement benefit equal to 85% of his average compensation during the last five years
of his employment reduced by the benefit payable under the Company&#146;s pension plan, 50% of his
Social Security benefit, and Company contributions on Mr.&nbsp;McCullough&#146;s behalf and earnings
attributable thereto under the Company&#146;s 401(k) Employee Stock Ownership Plan and Deferred
Compensation Plan for Certain Executive Employees. The supplemental retirement benefit is payable
over the course of 180&nbsp;months beginning on the first day of the month following the later of Mr.
McCullough&#146;s 62nd birthday or the cessation of his employment with the Company. If Mr.
McCullough&#146;s employment is terminated before his 62nd birthday, the Company must provide him with
an early retirement benefit equal to the liability accrued on the Company&#146;s books for its
obligations for the normal retirement benefit described above. This amount shall be amortized and
paid over a 180&nbsp;month period beginning the first day of the month following Mr.&nbsp;McCullough&#146;s
termination.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, if Mr.&nbsp;McCullough&#146;s employment is terminated for reasons other
than cause, death, disability, or after he attains the age of 62, in each case following a change
of control, the Company must provide him with a change of control payment equal to 85% of his
average compensation during the last five years of his employment reduced by the benefit payable
under the Company&#146;s pension plan, 50% of his Social Security benefit, and Company contributions on
Mr.&nbsp;McCullough&#146;s behalf and earnings attributable thereto under the Company&#146;s 401(k) Employee Stock
Ownership Plan and Deferred Compensation Plan for Certain Executive Employees. However, if this
change of control payment would cause the sum of other payments to Mr.&nbsp;McCullough from the Company and the change of control


<P align="center" style="font-size: 10pt">19
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">benefits to constitute a &#147;parachute payment&#148; as defined by the Internal Revenue Code, the Company
shall pay a change of control benefit equal to the liability accrued on the Company&#146;s books for its
obligations for the normal retirement benefit described above, amortized over 180&nbsp;months. If Mr.
McCullough dies while an active employee of the Company, the Company must pay his beneficiaries as
follows: For the first year following death, 100% of his total compensation, for each of the second
through fifth years following death, 75% of his total compensation, and for each of the sixth
through fifteenth years following death, 50% of his total compensation.


<!-- link1 "REPORT OF THE COMPENSATION COMMITTEE ON EXECUTIVE COMPENSATION" -->
<DIV align="left"><A NAME="012"></A></DIV>

<P align="center" style="font-size: 10pt"><B>REPORT OF THE COMPENSATION COMMITTEE<BR>
ON EXECUTIVE COMPENSATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has adopted a multi-faceted approach towards compensating all of its employees,
including senior management. The underlying philosophy and description of major components of the
total compensation program are described below.


<P align="left" style="font-size: 10pt"><U><B>Philosophy</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The total compensation program is intended to align compensation with business objectives and
enable the Company to attract and retain individuals who are contributing to the long-term success
of the Company. Towards this end:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The Company pays competitively</U>. The Company regularly compares its cash, equity and
benefits based compensation practices with those of other companies of similar size, operating in
similar geographic market areas, many of which are represented in the stock performance graph
included on page 23, and establishes compensation parameters based on that review.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The Company encourages teamwork</U>. The Company recognizes that its long-term success
results from the coordinated efforts of employees working towards common, well established
objectives. While individual accomplishments are encouraged and rewarded, the performance of the
Company is a determining factor in total compensation opportunities.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The Company strives for fairness in the administration of pay</U>. The Company strives to
ensure that compensation levels accurately reflect the level of accountability that each individual
has within the Company; employees are informed of the total compensation program; decisions made
regarding individual performance which affect compensation matters are based upon an objective
assessment of performance; and all employees have equal access to positions within the Company
which provide for increased levels of total compensation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The process of assessing performance involves the following:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Prior to the beginning of each fiscal year, the Chief Executive Officer establishes and
distributes written goals, which must be approved by the full Board. Those goals include specific
financial targets relative to earnings and asset quality. The Company strives to achieve financial
results which are in the upper third of the results published by its peer group.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Individuals at each successive level of management establish written goals, which must be
approved by their respective managers.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. All goals are reviewed on an ongoing basis to ensure that the Company is responding to
changes in the marketplace and economic climate, and that accomplishment of retained goals is
ensured.



<P align="center" style="font-size: 10pt">20
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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. At the end of the fiscal year, performance is evaluated against goals and other key
position responsibilities. Such evaluations affect decisions on salary, cash incentive, and stock
option matters.



<P align="left" style="font-size: 10pt"><U><B>Compensation Programs</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company defines itself as a super-community bank which provides products of a more
comprehensive and advanced nature than those offered by smaller institutions, while simultaneously
providing a level of service which exceeds the service quality delivered by larger regional and
money center organizations. The delivery of those products and services, in ways that enhance
Shareholder value, requires that the Company attract key people, promote teamwork, and reward
results. In furtherance of those requirements, the Company maintains the following compensation
programs.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cash-Based Compensation</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Salary</U>. The Company sets base salaries for employees by reviewing the total cash
compensation opportunities for competitive positions in the market. In order to more closely align
employee compensation to the Company&#146;s performance, the Company uses a combination of competitive
base salaries and performance incentive opportunities to provide for total compensation that may
exceed those in comparable companies which do not generate comparable financial results.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Management Incentive Plan</U>. The Company maintains an annual incentive plan in which
32% of its employees participate. The Company&#146;s performance to targeted asset quality, growth in
earnings per share, and CAMELS rating, which targets are approved by the Board, triggers the
payment of cash awards for all employees in this group. Award levels, which amount to a percentage
of salary, have been established for different organizational levels within the Company. For Mr.
Belden, 100% of his award is determined by the Company&#146;s performance relative to the financial
targets described above. For Messrs.&nbsp;Wears, Patton, Tryniski, and McCullough (subject to the terms
of his employment agreement described on pages 17-18) 80% of their respective award opportunities
reflect the Company&#146;s performance relative to the financial targets, and 20% of their respective
award opportunities reflect performance to other quantitative and qualitative goals specific to
their areas of responsibility.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity-Based Compensation</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock Option Program</U>. The purpose of this program is to provide additional incentives
to employees to work to maximize Shareholder value. The option program serves as an effective tool
in recruiting key individuals and utilizes vesting periods to encourage these individuals to
continue in the employ of the Company. The Board frequently awards options in years during which
the Company has achieved its financial targets. The number of stock options issued generally
reflects a percentage of salary; and various percentages have been established for different
organizational levels within the Company.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted Stock</U>. The Company has, on occasion, issued limited amounts of restricted
stock to individuals to support a variety of business objectives. Examples include: performance
unit shares have been issued in start-up and turnaround assignments, with vesting schedules tied to
specific performance criteria; and restricted shares have been issued to employees for
extraordinary service in consummating acquisitions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company believes that the use of equity-based compensation such as stock options and
restricted stock is important in that it aligns the interests of key personnel with those of the
Shareholders. In particular, when personnel receive equity-based compensation, their overall
compensation is enhanced when the market price of the Company&#146;s common stock increases and is
adversely affected when the market price of the Company&#146;s common stock decreases.


<P align="center" style="font-size: 10pt">21
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<P align="left" style="font-size: 10pt"><U><B>CEO Compensation</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In December&nbsp;2004, the full Board formally reviewed Mr.&nbsp;Belden&#146;s performance for fiscal year
2004, his eleventh full year as the Company&#146;s President and CEO. Having determined that the
Company&#146;s level of performance relative to the majority of its previously approved annual and
long-term financial targets had been surpassed, the Board, operating under the terms of the
Management Incentive Plan disclosed in this Report, authorized the payment of Mr.&nbsp;Belden&#146;s cash
award for 2004, which amounted to $261,324. Mr.&nbsp;Belden&#146;s $522,648 base salary level for 2004 is
well supported by competitive wage survey data, and the increase over his 2003 base salary level is
well supported by the Company&#146;s strategic accomplishments and financial performance during the 2003
evaluation period.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing report has been provided by Lee T. Hirschey (Chair), Brian R. Ace, David C.
Patterson, and Peter A. Sabia, members of the Compensation Committee. The Board has determined
that each of the Compensation Committee&#146;s members is &#147;independent&#148; as defined by the NYSE Rules.
The Compensation Committee has adopted a written charter setting forth its composition and
responsibilities, a copy of which is available at the Company&#146;s website at www.communitybankna.com.


<P align="center" style="font-size: 10pt">22
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<P align="left" style="font-size: 10pt"><U><B>Stock Performance Graph</B></U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following graph compares cumulative total Shareholder returns on the
Company&#146;s common stock over the last five fiscal years to the S&#038;P Small Cap
Commercial Banks Index, the Nasdaq Bank Index, the S&#038;P 600 Small Cap Index (of
which the Company became a member in 2004), and the Russell 2000 Index (of
which the Company became a member in 2003). Total return values were
calculated as of December&nbsp;31 of each indicated year assuming $100 investment on
December&nbsp;31, 1999 and reinvestment of dividends.


<P align="center" style="font-size: 10pt"><IMG src="y07599y0759902.gif" alt="(PERFORMANCE GRAPH)">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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<TR style="font-size: 1px">
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 8pt">
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="center" valign="top">1999</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="center" valign="top">2000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="center" valign="top">2001</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="center" valign="top">2002</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="center" valign="top">2003</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="center" valign="top">2004</TD>
    <TD valign="top">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Community Bank System, Inc.</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100.00</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">111.76</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">123.04</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">152.65</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">246.00</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">291.53</TD>
    <TD valign="top">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">S&#038;P SmallCap Commercial Banks Index</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100.00</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">138.25</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">158.29</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">169.49</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">227.13</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">275.57</TD>
    <TD valign="top">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nasdaq Bank Index</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100.00</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">117.70</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">132.63</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">141.82</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">188.66</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">214.40</TD>
    <TD valign="top">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">S&#038;P600 SmallCap Index</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100.00</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">111.81</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">119.13</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">101.71</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">141.14</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">173.12</TD>
    <TD valign="top">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Russell 2000 Index</DIV></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100.00</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">97.09</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.64</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">79.25</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">116.71</TD>
    <TD valign="top">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">138.21</TD>
    <TD valign="top">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="1" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">23
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "AUDIT COMMITTEE REPORT" -->
<DIV align="left"><A NAME="013"></A></DIV>

<P align="center" style="font-size: 10pt"><B>AUDIT COMMITTEE REPORT</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with its written charter adopted by the Board of Directors, a copy of which is
available at the Company&#146;s website at www.communitybankna.com, the Bank&#146;s Audit/Compliance/Risk
Management Committee (which also serves as the Company&#146;s Audit Committee) assists the Board in
fulfilling its responsibility for oversight of the quality and integrity of the accounting,
auditing, and financial reporting practices of the Company and the Bank. The Committee reviews
internal and external audits of the Company and the Bank and the adequacy of the Company&#146;s and the
Bank&#146;s accounting, financial, and compliance controls, and investigates and makes recommendations
to the Board regarding the appointment of independent auditors.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit/Compliance/Risk Management Committee is comprised of four directors, each of whom
the Board has determined to be &#147;independent&#148; as defined by the Sarbanes-Oxley Act and the NYSE
Rules. Committee members may not serve simultaneously on the audit committees of more than two
other public companies without approval of the full Board. To date, no such approval has been
granted. The Board has determined that Charles E. Parente, who serves on the Audit/Compliance/Risk
Management Committee, qualifies as an &#147;audit committee financial expert&#148; as defined in Item 401(h)
of Regulation&nbsp;S-K promulgated by the Securities and Exchange Commission.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In discharging its oversight responsibility as to the audit process, the Audit/Compliance/Risk
Management Committee obtained from the Company&#146;s independent auditors a formal written statement
describing all relationships between the auditors and the Company that might bear on the auditors&#146;
independence consistent with Independence Standards Board Standard No.&nbsp;1, &#147;Independence Discussions
with Audit Committees,&#148; discussed with the auditors any relationships that may impact their
objectivity and independence and satisfied itself as to the auditors&#146; independence. The Committee
also discussed with management and the independent auditors the quality and adequacy of the
Company&#146;s internal controls. The Committee reviewed with the independent auditors their audit
plans, audit scope, and identification of audit risks.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee discussed and reviewed with the independent auditors all communications required
by generally accepted auditing standards, including those described in Statement on Auditing
Standards No.&nbsp;61, as amended, &#147;Communication with Audit Committees,&#148; and, with and without
management present, discussed and reviewed the results of the independent auditors&#146; examination of
the financial statements. The Committee also reviewed with management and the independent auditors
the audited financial statements of the Company as of and for the fiscal year ended December&nbsp;31,
2004.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the above-mentioned reviews and discussions with management and the independent
auditors, the Committee recommended to the Board of Directors that the Company&#146;s audited financial
statements be included in its Annual Report on Form 10-K for the fiscal year ended December&nbsp;31,
2004, for filing with the Securities and Exchange Commission.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing report has been provided by William M. Dempsey (Chair), John M. Burgess, Lee T.
Hirschey, and Charles E. Parente, members of the Audit/Compliance/Risk Management Committee.


<P align="center" style="font-size: 10pt">24
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "AUDIT FEES" -->
<DIV align="left"><A NAME="014"></A></DIV>

<P align="center" style="font-size: 10pt"><B>AUDIT FEES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth the aggregate fees billed to the Company by
PricewaterhouseCoopers LLP for professional services rendered for the fiscal years ended December
31, 2004 and 2003.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="80%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2003</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Audit Fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">325,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">252,000</TD>
    <TD>&nbsp;(1)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Audit
Related Fees (2)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,417</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">103,645</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Tax Fees (3)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">274,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">336,901</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">All Other
Fees (4)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Includes fees incurred in connection with the Company&#146;s
fiscal year 2003 audit that were billed after publication of the
proxy statement for the 2004 Annual Shareholders Meeting.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">For 2004, includes audit of Community Investment
Services, Inc., audit of the Company&#146;s 401(k) and pension plans, and
Federal Home Loan Bank collateral verification. For 2003, includes
audit of the Company&#146;s pension plan, internal audit assistance,
separate audits of two of the Bank&#146;s subsidiaries, and acquisition
assistance.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(3)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">For 2004, includes tax preparation and compliance fees of
$98,350 and fees for tax consultation related to acquisitions, tax
planning and other matters of $176,175. For 2003 includes tax
preparation and compliance fees of $120,800, and fees for tax
consultation related to acquisitions, tax planning and other matters
of $160,850.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="left">(4)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">For 2003, includes loan participation/preferred funding
consultation.</TD>
</TR>

</TABLE>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Audit Committee Charter, the Company is required to obtain pre-approval by the
Audit/Compliance/Risk Management Committee for all audit and permissible non-audit services
obtained from its independent auditors to the extent required by applicable law. In accordance
with this pre-approval policy, the Audit/Compliance/Risk Management Committee pre-approved 100% of
the Audit Fees, 100% of the Audit Related Fees, 100% of the Tax Consulting Fees, and 100% of the
&#147;All Other&#148; Fees for fiscal 2004 and fiscal 2003.

<!-- link1 "TRANSACTIONS WITH MANAGEMENT" -->
<DIV align="left"><A NAME="015"></A></DIV>

<P align="center" style="font-size: 10pt"><B>TRANSACTIONS WITH MANAGEMENT</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Some of the directors and executive officers of the Company and the Bank (and the members of
their immediate families and corporations, organizations, trusts, and estates with which these
individuals are associated) are indebted to the Bank. However, all such loans were made in the
ordinary course of business, do not involve more than the normal risk of collectibility or present
other unfavorable features, and were made on substantially the same terms, including interest rate
and collateral requirements, as those prevailing at the same time for comparable loan transactions
with unaffiliated persons. No such loan is nonperforming at present. The Company expects that the
Bank will continue to have banking transactions in the ordinary course of business with the
Company&#146;s executive officers and directors and their associates on substantially the same terms,
including interest rates and collateral, as those then prevailing for comparable transactions with
others.


<P align="center" style="font-size: 10pt">25
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outside of these normal customer relationships, none of the directors or executive officers of
the Company or the Bank and no 5% Shareholders of the Company (or members of the immediate families
of any of the above or any corporations, organizations, or trusts with which such persons are
associated) maintains any significant business or personal relationship with the Company or the
Bank, other than as arises by virtue of his ownership interest in the Company or his position with
the Company or the Bank. The law firm of Franklin &#038; Gabriel, owned by Director Gabriel, provided
legal services to the Bank&#146;s operations in its Finger Lakes Markets during 2004; the law firm of
DiCerbo and Palumbo, of which Director DiCerbo is a partner, provided legal services to the Bank&#146;s
operations in its Southern Region Markets during 2004; the law firm of Cantwell &#038; Cantwell, owned
by Director Cantwell, provided legal services to the Bank&#146;s operations in its Northern Region
Markets during 2004; and Director Sally A. Steele, Esq. provided legal services to the Bank&#146;s
operations in its Pennsylvania Markets during 2004. For services rendered during 2004 and for
related out-of-pocket disbursements, DiCerbo and Palumbo received $244,845 from the Bank, Franklin
and Gabriel received $62,575 from the Bank, and Cantwell &#038; Cantwell received $48,840 from the Bank.
The amount received by Director Steele for legal services rendered during 2004 and for related
out-of-pocket disbursements did not exceed 5% of her firm&#146;s gross revenues.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the terms of its written charter, the Audit/Compliance/Risk Management Committee
is responsible for reviewing and approving all related-party transactions involving the Company or
the Bank. Consistent with this responsibility, the Committee has reviewed and approved the
foregoing relationships as being consistent with the best interests of the Company and the Bank.

<!-- link1 "SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE" -->
<DIV align="left"><A NAME="016"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;16(a) of the Securities Exchange Act of 1934 requires the Company&#146;s directors,
executive officers and holders of more than 10% of the Company&#146;s common stock (collectively,
&#147;Reporting Persons&#148;) to file with the Securities and Exchange Commission initial reports of
ownership and reports of changes in ownership of the common stock. Such persons are required by
regulations of the Securities and Exchange Commission to furnish the Company with copies of all
such filings. Based solely on its review of the copies of such filings received by it and written
representations of Reporting Persons with respect to the fiscal year ended December&nbsp;31, 2004, the
Company believes that all Reporting Persons complied with all Section 16(a) filing requirements in
the fiscal year ended December&nbsp;31, 2004 except as follows: W. Valen McDaniel, the Company&#146;s Senior
Vice President/Chief Risk Officer, filed one late report on Form&nbsp;5 reporting a partial balance
transfer from a Company stock fund under the 401(K) Plan to another investment option. Director
Sabia filed one late report on Form&nbsp;4 reflecting shares acquired by Valley Dodge Truck Center
pursuant to the Company&#146;s Dividend Reinvestment Plan.

<!-- link1 "SHAREHOLDER PROPOSALS" -->
<DIV align="left"><A NAME="017"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SHAREHOLDER PROPOSALS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Shareholder proposals are to be considered by the Company for inclusion in a proxy
statement for a future meeting of the Company&#146;s Shareholders, such proposals must be submitted on a
timely basis and must meet the requirements established by the Securities and Exchange Commission
for shareholder proposals. Shareholder proposals for the Company&#146;s 2006 Annual Meeting of
Shareholders will not be deemed to be timely submitted unless they are received by the Company at
its principal executive offices by December&nbsp;8, 2005. Such Shareholder proposals, together with any
supporting statements, should be directed to the Secretary of the Company. Shareholders submitting
proposals are urged to submit their proposals by certified mail, return receipt requested.


<P align="center" style="font-size: 10pt">26
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "INDEPENDENT AUDITORS" -->
<DIV align="left"><A NAME="018"></A></DIV>

<P align="center" style="font-size: 10pt"><B>INDEPENDENT AUDITORS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PricewaterhouseCoopers LLP, Independent Certified Public Accountants, were retained by the
Company at the direction of the Board of Directors. The independent auditors have audited the
financial statements of the Company for the fiscal year ended December&nbsp;31, 2004 and performed such
other nonaudit services as the Board requested.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A representative of PricewaterhouseCoopers LLP will be present at the Meeting. This
representative will have the opportunity to make a statement, if he or she so desires, and will be
available to respond to appropriate questions from Shareholders.

<!-- link1 "OTHER MATTERS" -->
<DIV align="left"><A NAME="019"></A></DIV>

<P align="center" style="font-size: 10pt"><B>OTHER MATTERS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors of the Company is not aware of any other matters that may come before
the Meeting. However, the Proxies may be voted with discretionary authority with respect to any
other matters that may properly come before the Meeting.


<P align="left" style="font-size: 10pt">Date: April&nbsp;7, 2005




<P align="left" style="margin-left:60%; font-size: 10pt">By Order of the Board of Directors



<P align="left" style="margin-left:60%; font-size: 10pt"><IMG src="y07599y0759901.gif" alt="-s- Donna J. Drengel"><BR>
Donna J. Drengel<BR>
Secretary



<P align="center" style="font-size: 10pt">27
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Helvetica',Ariel,sans serif">



<P align="center" style="font-size: 12pt"><B>ANNUAL MEETING OF SHAREHOLDERS OF</B>

<P align="center" style="font-size: 24pt"><B>COMMUNITY BANK SYSTEM, INC.</B>



<P align="center" style="font-size: 12pt"><B>May&nbsp;11, 2005</B>


<P align="center" style="font-size: 12pt">&nbsp;


<P align="center" style="font-size: 12pt">&nbsp;

<P align="center" style="font-size: 18pt">Please date, sign and mail<BR>
your proxy card in the<BR>
envelope provided as soon<BR>
as possible.


<P align="center" style="font-size: 8pt"><FONT face="Wingdings">&#226;</FONT> Please detach along perforated line and mail in the envelope provided. <FONT face="Wingdings">&#226;</FONT>


<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<P align="center" style="font-size: 7pt"><B>THE BOARD OF DIRECTORS RECOMMEND A VOTE &#147;FOR&#148; THE ELECTION OF ALL NOMINEES.<BR>
PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE </B><FONT face="Wingdings">&#120;</FONT>

</DIV>

<P><DIV style="position: relative; float: left; width: 48%">

<P align="left" style="font-size: 9pt"><B>1. ELECTION OF DIRECTORS:</B>


<DIV align="center">
<TABLE style="font-size: 9pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 1px">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>NOMINEES:</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><FONT face="Wingdings">&#111;</FONT></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>FOR ALL NOMINEES</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Wingdings">&#161;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Brian R. Ace</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Wingdings">&#161;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Paul M. Cantwell, Jr.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><FONT face="Wingdings">&#111;</FONT></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>WITHHOLD AUTHORITY</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Wingdings">&#161;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William M. Dempsey</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>FOR ALL NOMINEES</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Wingdings">&#161;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lee T. Hirschey</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><FONT face="Wingdings">&#111;</FONT></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>FOR ALL EXCEPT</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(See instructions below)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>INSTRUCTION:</B></U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">To withhold authority to vote for any individual nominee(s), mark <B>&#147;FOR ALL EXCEPT&#148;</B>
and fill in the circle next to each nominee you wish to withhold, as shown here: <FONT face="Wingdings" style="font-size: 8pt">&#108;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">To change the address on your account, please check
the box at right and indicate your new address in
the address space above. Please note that changes to
the registered name(s) on the account may not be
submitted via this method.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings" style="font-size: 17pt">&#111;</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>



<DIV style="position: relative; float: right; width: 48%">
<P align="left" style="font-size: 10pt"><B>In their discretion, such attorneys-in-fact and proxies are
authorized to vote upon such other business as may properly come
before the meeting.</B>


<P align="left" style="font-size: 10pt"><B>This Proxy, when properly executed, will be voted in the manner
directed herein by the undersigned.</B>


<P align="left" style="font-size: 10pt"><B>IF NO DIRECTION IS GIVEN, THIS PROXY WILL BE VOTED &#147;FOR&#148; THE
ELECTION OF ALL NOMINEES.</B>


<P align="left" style="font-size: 10pt">&nbsp;


<P align="left" style="font-size: 10pt">&nbsp;


<P align="left" style="font-size: 10pt">&nbsp;



<P align="center" style="font-size: 10pt">Please check here if you plan to attend the meeting. <FONT face="Wingdings">&#111;</FONT>


</DIV>
<BR clear="all"><BR>
<DIV align="center">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap valign="bottom">Signature of Shareholder</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Date:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="bottom">Signature of Shareholder</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Date:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 7pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Note:</B>&nbsp;</TD>
    <TD>Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<P><DIV style="position: relative; float: left; width: 48%">

<P align="center" style="font-size: 10pt"><IMG src="y07599y0759903.gif" alt="(THE WOODLANDS LOGO)">



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="50%" align="center" color="#000000">



<P align="center" style="font-size: 10pt"><IMG src="y07599y0759904.gif" alt="(MAP)">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="color: #FFFFFF; background: #000000">
    <TD align="center" valign="top">
1073 Highway 315, Wilkes-Barre, PA 18702<BR>
570.824.9831 <FONT face="Wingdings">&#108;</FONT> Toll Free: 800.762.2222<BR>
www.thewoodlandsresort.com<BR>
rosskornfeld@thewoodlandsresort.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 48%">

<P align="center" style="font-size: 10pt"><IMG src="y07599y0759900.gif" alt="(GRAPHIC)">



<P align="center" style="font-size: 12pt"><I>The Directors and Officers<BR>
of</I>


<P align="center" style="font-size: 12pt"><B>COMMUNITY BANK SYSTEM, INC.</B><BR>
<I>extend a cordial invitation for you to<BR>
join them for refreshments in the<BR>
Grand Ballroom</I><BR>
THE WOODLANDS INN &#038; RESORT<BR>
<I>Wilkes-Barre, Pennsylvania<BR>
at 12:00 Noon<BR>
immediately prior to the</I><BR>
<B>ANNUAL MEETING OF SHAREHOLDERS</B><BR>
<I>Wednesday, May&nbsp;11, 2005</I>

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><I>James A. Gabriel<BR>
Chairman</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><I>Sanford A. Belden<BR>
President &#038; CEO</I></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><U>Directions from Syracuse, NY</U>:



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>Take I-81 S towards Binghamton to Exit 170 B<BR>
(Wilkes-Barre).</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>Take exit 1.</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>Turn left at light (Route 315 North)</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>The Woodlands is 1/4 mile on the right.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><HR size="3" noshade width="100%" align="center" color="#000000">

</div>


<DIV style="font-family: 'Helvetica',Ariel,sans serif">

<P align="right" style="font-size: 16pt"><B>PROXY</B>


<P align="center" style="font-size: 14pt"><B>COMMUNITY BANK SYSTEM, INC.</B>


<P align="center" style="font-size: 12pt"><B>5790 Widewaters
Parkway<BR>
Dewitt, New York 13214-1883<BR>
<BR>
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</B>


<P align="left" style="font-size: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Charles M. Ertel and Donna J. Drengel, proxies, with power to
act without the other and with power of substitution, and hereby authorizes them to represent and
vote, as designated on the other side, all the shares of stock of Community Bank System, Inc.
standing in the name of the undersigned with all powers which the undersigned would possess if
present at the Annual Meeting of Shareholders of the Company to be held May&nbsp;11, 2005 or any
adjournment thereof.


<P align="center" style="font-size: 12pt"><B>(Continued, and to be marked, signed and dated on the reverse side)</B>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Helvetica',Ariel,sans serif">

<P align="center" style="font-size: 12pt"><B>ANNUAL MEETING OF SHAREHOLDERS OF</B>

<P align="center" style="font-size: 24pt"><B>COMMUNITY BANK SYSTEM, INC.</B>



<P align="center" style="font-size: 12pt"><B>May&nbsp;11, 2005</B>

<P><DIV style="position: relative; float: left; width: 25%">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

</DIV>
<DIV style="position: relative; float: left; margin-left: 2%; width: 48%">
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 3px;">



<DIV align="center">
<P style="width: 100%; padding: 2px; font-size: 12pt; background: #CDCDCD; color: #000000"><B>PROXY VOTING INSTRUCTIONS</B>
</DIV>


</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 25%">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

</DIV>
<BR clear="all"><BR>
<P><DIV style="position: relative; float: left; width: 48%">
<P align="left" style="font-size: 12pt"><B><U>MAIL </U> - </B>Date, sign and mail your proxy card in the envelope provided as soon as possible.


<DIV align="center" style="font-size: 10pt"><B>- OR -</B></DIV>



<DIV align="left" style="font-size: 12pt"><B><U>TELEPHONE </U> -
</B>Call toll-free <B>1-800-PROXIES </B><BR>
(1-800-776-9437) from any touch-tone telephone<BR>
and follow the instructions. Have your proxy card available when you call.</DIV>


<DIV align="center" style="font-size: 10pt"><B>- OR -</B></DIV>



<DIV align="left" style="font-size: 12pt"><B><U>INTERNET</U> - </B>Access &#147;<B>www.voteproxy.com</B>&#148; and follow the on-screen instructions. Have your proxy card available when you access the web page.</DIV>


</DIV>
<DIV style="position: relative; float: right; width: 48%">
<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="2" align="center" valign="top" style="border-right: 1px solid #000000; border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px"><B>COMPANY NUMBER</B></DIV></TD>

    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="2" align="center" valign="top" style="border-right: 1px solid #000000; border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px"><B>ACCOUNT NUMBER</B></DIV></TD>

    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">

    <TD colspan="3" align="center" valign="top" style="color: #000000; background: #CDCDCD; border-right: 1px solid #000000; border-left: 1px solid #000000; border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>

    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="6" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 8pt"><FONT face="Wingdings">&#226;</FONT> Please detach along perforated line and mail in the envelope provided <U>IF</U> you are not voting via telephone or the Internet. <FONT face="Wingdings">&#226;</FONT>


<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">

<P align="center" style="font-size: 7pt"><B>THE BOARD OF DIRECTORS RECOMMEND A VOTE &#147;FOR&#148; THE ELECTION OF ALL NOMINEES.<BR>
PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE </B><FONT face="Wingdings">&#120;</FONT>

</DIV>

<P><DIV style="position: relative; float: left; width: 48%">

<P align="left" style="font-size: 9pt"><B>1. ELECTION OF DIRECTORS:</B>


<DIV align="center">
<TABLE style="font-size: 9pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>NOMINEES:</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><FONT face="Wingdings">&#111;</FONT></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>FOR ALL NOMINEES</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">O
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Brian R. Ace</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">O
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Paul M. Cantwell, Jr.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><FONT face="Wingdings">&#111;</FONT></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>WITHHOLD AUTHORITY</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">O
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William M. Dempsey</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>FOR ALL NOMINEES</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">O
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lee T. Hirschey</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><FONT face="Wingdings">&#111;</FONT></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>FOR ALL EXCEPT</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(See instructions below)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U><B>INSTRUCTION:</B></U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">To withhold authority to vote for any individual nominee(s), mark <B>&#147;FOR ALL EXCEPT&#148;</B>
and fill in the circle next to each nominee you wish to withhold, as shown here: <FONT face="Wingdings" style="font-size: 8pt">&#108;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">To change the address on your account, please check
the box at right and indicate your new address in
the address space above. Please note that changes to
the registered name(s) on the account may not be
submitted via this method.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle"><FONT face="Wingdings" style="font-size: 17pt">&#111;</FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 48%">
<P align="left" style="font-size: 9pt"><B>In their discretion, such attorneys-in-fact and proxies are
authorized to vote upon such other business as may properly come
before the meeting.</B>


<P align="left" style="font-size: 9pt"><B>This Proxy, when properly executed, will be voted in the manner
directed herein by the undersigned.</B>


<P align="left" style="font-size: 9pt"><B>IF NO DIRECTION IS GIVEN, THIS PROXY WILL BE VOTED &#147;FOR&#148; THE
ELECTION OF ALL NOMINEES.</B>


<P align="left" style="font-size: 9pt">&nbsp;


<P align="left" style="font-size: 9pt">&nbsp;


<P align="left" style="font-size: 9pt">&nbsp;



<P align="center" style="font-size: 8pt">Please check here if you plan to attend the meeting. <FONT face="Wingdings">&#111;</FONT>


</DIV>
<BR clear="all"><BR>
<DIV align="center">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap valign="bottom">Signature of Shareholder</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Date:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="bottom">Signature of Shareholder</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Date:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 7pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Note:</B>&nbsp;</TD>
    <TD>Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.</TD>
</TR>
</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
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