First Niagara Financial Group Announces $250 Million Preferred Stock Offering

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First Niagara Financial Group,Inc. (Nasdaq: FNFG) today announced the commencement of an underwritten publicoffering of $250 million aggregate liquidation preference of itsfixed-to-floating rate perpetual non-cumulative preferred stock, Series B. Inaddition, First Niagara expects to grant the underwriters of the preferredstock offering a 30-day option to purchase up to $37.5 million of additionalshares of preferred stock. Goldman, Sachs & Co. will serve as the globalcoordinator for the offering, Merrill Lynch, Pierce, Fenner & SmithIncorporated will serve as the physical bookrunner for the offering, Goldman,Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and WellsFargo Securities, LLC will serve as joint book-running managers for theoffering, Citigroup Global Markets Inc. will serve as the joint lead manager,and Sandler O'Neill + Partners, L.P. will serve as the co-manager for theoffering.

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