Buffalo Arena Re-Branded With HSBC Name; HSBC & Crossroads Arena LLC Reach Agreement.

Business Editors

BUFFALO, N.Y.--(BUSINESS WIRE)--March 17, 2000

-Effective today, Buffalo's state-of-the-art sports and entertainment complex, formerly known as Marine Midland Arena, will be named HSBC Arena, under terms of an agreement reached between HSBC Bank USA and Crossroads Arena LLC.

The bank, which purchased the naming rights for twenty years in 1996, changed its name a year ago as part of a global branding campaign. As part of the agreement, the contract will be extended for ten additional years, until 2026.

"HSBC Arena will serve as a reflection of this organization's historic commitment to Buffalo and Erie County and our long-range plans to maintain a strong presence in this region," said Youssef A. Nasr, president and CEO, HSBC Bank USA. "We are especially pleased to be introducing the new name to the public during the NCAA Tournament, an event which will focus the national spotlight on Western New York"

"We are extremely pleased to have reached a positive resolution over the naming rights and look forward to having the HSBC name on the Arena," said Timothy J. Rigas, chief executive officer of the Buffalo Sabres.

Although it will take some time to change the signage on the roof of the Arena, the name change will formally take effect immediately. Plans are being made to showcase the "HSBC Arena" name inside the facility in time for the start of the 2000 NCAA Division I Men's Basketball Championship East Region First & Second Rounds on March 17 and 19, 2000.