Algonquin Studios Recognized as Technology Sector “2010 Small Business of the Year”

Buffalo, NY, May 27, 2010 --( M&T Bank recognized Algonquin Studios, Inc. as the “2010 Small Business of the Year” in the Technology Sector at the 18th annual Small Business Awards luncheon held Wednesday, May 12th, at the Buffalo Niagara Convention Center.

“M&T Bank believes Algonquin Studios, Inc. embodies successful and growing local companies and is pleased they received some of the recognition in Western New York’s business community that they so well deserve,” said M&T Bank Senior Vice President, Alfred F. Luhr, III.

“M&T Bank has had the vision and business sense to invest in a Buffalo startup,” Algonquin Studios CEO and Chairman, Stephen M. Kiernan stated. “Their investment has helped Algonquin Studios grow from a company that employed four people to one that currently employs 45 and saw $5 million in gross sales across our three companies last year.”

“Algonquin Studios, Inc. has received numerous SBA backed loans for two businesses. We have significantly expanded our data center in downtown Buffalo with the proceeds from some SBA loans and we were able to expand the contract embroidery, tackle twill, and fulfillment operations at our sister company, Big Bear, with other SBA funds.”

Awarded to companies that use Small Business Administration services to help grow and benefit their business, the Small Business Awards allow local banks and other commercial lenders, economic development agencies, chambers of commerce, and business organizations to recognize and celebrate the accomplishments and contributions of small firms. Co-Sponsored by Business First, the US Small Business Administration and SCORE, the awards ceremony was a part of the 2010 Small Business Matchmaker Awards Luncheon and Business to Business Exposition held as part of this year’s National Small Business Week events and festivities.

About Algonquin Studios:
Algonquin Studios is a Buffalo-based professional services firm that has been providing software development, web content management, web design, IT services, and business and technology consulting services since 1998.

About M&T Bank:
Established in 1856 as Manufacturers and Traders Bank, today the M&T Bank Corporation is one of the 20 largest independent bank holding companies in the U.S., with current assets of $68.9 billion and more than 750 branches and 14,000 employees located in New York, Pennsylvania, Maryland, New Jersey, Washington D.C., Virginia, West Virginia and Delaware.

About the U.S. Small Business Administration:
The U.S. Small Business Administration was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. As part of National Small Business Week, the US Small Business Administration recognizes the special impact made by outstanding entrepreneurs and small business owners.

Algonquin Studios
Stephen Kiernan II