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                                                                    EXHIBIT 4.20






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                SERIES A CAPITAL SECURITIES GUARANTEE AGREEMENT

                                ONBANCorp, Inc.

                          Dated as of February 4, 1997

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                                TABLE OF CONTENTS

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                                                                                Page
                                                                                ----

                                    ARTICLE I
                         DEFINITIONS AND INTERPRETATION

<S>               <C>                                                             <C>
                  SECTION  1.1   Definitions and Interpretation . . . . . . . .    2

                                   ARTICLE II
                               TRUST INDENTURE ACT

                  SECTION  2.1   Trust Indenture Act; Application . . . . . . .    6
                  SECTION  2.2   Lists of Holders of Securities   . . . . . . .    6
                  SECTION  2.3   Reports by the Capital Securities
                                       Guarantee Trustee  . . . . . . . . . . .    7
                  SECTION  2.4   Periodic Reports to Capital Securities
                                       Guarantee Trustee  . . . . . . . . . . .    7
                  SECTION  2.5   Evidence of Compliance with Conditions
                                       Precedent    . . . . . . . . . . . . . .    7
                  SECTION  2.6   Events of Default; Waiver  . . . . . . . . . .    7
                  SECTION  2.7   Event of Default; Notice . . . . . . . . . . .    8
                  SECTION  2.8   Conflicting Interests    . . . . . . . . . . .    8

                                   ARTICLE III
                          POWERS, DUTIES AND RIGHTS OF
                      CAPITAL SECURITIES GUARANTEE TRUSTEE

                  SECTION  3.1   Powers and Duties of the Capital Securities
                                       Guarantee Trustee   . . . . . . . . . . .   8
                  SECTION  3.2   Certain Rights of Capital Securities
                                       Guarantee Trustee    . . . . . . . . . . . 10
                  SECTION  3.3   Not Responsible for Recitals or Issuance
                                       of Series A Capital Securities Guarantee   13

                                   ARTICLE IV
                      CAPITAL SECURITIES GUARANTEE TRUSTEE

                  SECTION  4.1    Capital Securities Guarantee Trustee;
                                        Eligibility     . . . . . . . . . . . . . 13
                  SECTION  4.2    Appointment, Removal and Resignation of
                                        Capital Securities Guarantee Trustee  . . 14

                                    ARTICLE V
                                    GUARANTEE

                  SECTION  5.1   Guarantee   . . . . . . . .  . . . . . . . . .   15
                  SECTION  5.2   Waiver of Notice and Demand  . . . . . . . . .   15
                  SECTION  5.3   Obligations Not Affected   . . . . . . . . . .   15
                  SECTION  5.4   Rights of Holders      . . . . . . . . . . . .   16
                  SECTION  5.5   Guarantee of Payment   . . . . . . . . . . . .   17

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                                                                                PAGE

<S>               <C>                                                           <C>
                  SECTION  5.6   Subrogation   . . . . . . . . . . . . . . . .  17
                  SECTION  5.7   Independent Obligations . . . . . . . . . . .  17

                                   ARTICLE VI
                    LIMITATION OF TRANSACTIONS; SUBORDINATION

                  SECTION  6.1   Limitation of Transactions    . . . . . . . .  17
                  SECTION  6.2   Ranking     . . . . . . . . . . . . . . . . .  18

                                   ARTICLE VII
                                   TERMINATION

                  SECTION  7.1   Termination     . . . . . . . . . . . . . . .  19

                                  ARTICLE VIII
                                 INDEMNIFICATION

                  SECTION  8.1   Exculpation     . . . . . . . . . . . . . . .  19
                  SECTION  8.2   Indemnification     . . . . . . . . . . . . .  20

                                   ARTICLE IX
                                  MISCELLANEOUS

                  SECTION  9.1   Successors and Assigns    . . . . . . . . . .  20
                  SECTION  9.2   Amendments    . . . . . . . . . . . . . . . .  20
                  SECTION  9.3   Notices     . . . . . . . . . . . . . . . . .  20
                  SECTION  9.4   Exchange Offer  . . . . . . . . . . . . . . .  21
                  SECTION  9.5   Benefit     . . . . . . . . . . . . . . . . .  22
                  SECTION  9.6   Governing Law     . . . . . . . . . . . . . .  22

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                 SERIES A CAPITAL SECURITIES GUARANTEE AGREEMENT

                  This GUARANTEE AGREEMENT (the "Series A Capital Securities
Guarantee"), dated as of February 4, 1997, is executed and delivered by
ONBANCorp, Inc., a Delaware corporation (the "Guarantor"), and The Bank of New
York, a New York banking corporation, as trustee (the "Capital Securities
Guarantee Trustee"), for the benefit of the Holders (as defined herein) from
time to time of the Series A Capital Securities (as defined herein) of OnBank
Capital Trust I, a Delaware statutory business trust (the "Issuer").

                  WHEREAS, pursuant to an Amended and Restated Declaration of
Trust (the "Declaration"), dated as of February 4, 1997, among the trustees of
the Issuer, the Guarantor, as sponsor, and the holders from time to time of
undivided beneficial interests in the assets of the Issuer, the Issuer is
issuing on the date hereof 60,000 capital securities, having an aggregate
liquidation amount of $60,000,000, such capital securities being designated the
9.25% Series A Capital Securities (collectively the "Series A Capital
Securities") and, in connection with an Exchange Offer (as defined in the
Declaration) has agreed to execute and deliver the Series B Capital Securities
Guarantee (as defined in the Declaration) for the benefit of holders of the
Series B Capital Securities (as defined in the Declaration).

                  WHEREAS, as incentive for the Holders to purchase the Series A
Capital Securities, the Guarantor desires irrevocably and unconditionally to
agree, to the extent set forth in this Series A Capital Securities Guarantee, to
pay to the Holders the Guarantee Payments (as defined below). The Guarantor
agrees to make certain other payments on the terms and conditions set forth
herein.

                  WHEREAS, the Guarantor is executing and delivering a guarantee
agreement (the "Common Securities Guarantee"), with substantially identical
terms to this Series A Capital Securities Guarantee, for the benefit of the
holders of the Common Securities (as defined herein), except that if an Event of
Default (as defined in the Declaration) has occurred and is continuing, the
rights of holders of the Common Securities to receive Guarantee Payments under
the Common Securities Guarantee are subordinated, to the extent and in the
manner set forth in the Common Securities Guarantee, to the rights of holders of
Series A Capital Securities and the Series B Capital Securities to receive
Guarantee Payments under this Series A Capital Securities Guarantee and the
Series B Capital Securities Guarantee, as the case may be.

                  NOW, THEREFORE, in consideration of the purchase by each
Holder, which purchase the Guarantor hereby acknowledges shall benefit the
Guarantor, the Guarantor executes and delivers


<PAGE>

this Series A Capital Securities Guarantee for the benefit of the Holders.

                                    ARTICLE I
                         DEFINITIONS AND INTERPRETATION

SECTION 1.1    DEFINITIONS AND INTERPRETATION

             In this Series A Capital Securities Guarantee, unless the context
otherwise requires:

             (a)        Capitalized terms used in this Series A Capital
                        Securities Guarantee but not defined in the preamble
                        above have the respective meanings assigned to them in
                        this Section 1.1;

             (b)        Terms defined in the Declaration as at the date of
                        execution of this Series A Capital Securities Guarantee
                        have the same meaning when used in this Series A Capital
                        Securities Guarantee unless otherwise defined in this
                        Series A Capital Securities Guarantee;

             (c)        a term defined anywhere in this Series A Capital
                        Securities Guarantee has the same meaning throughout;

             (d)        all references to "the Series A Capital Securities
                        Guarantee" or "this Series A Capital Securities
                        Guarantee" are to this Series A Capital Securities
                        Guarantee as modified, supplemented or amended from time
                        to time;

             (e)        all references in this Series A Capital Securities
                        Guarantee to Articles and Sections are to Articles and
                        Sections of this Series A Capital Securities Guarantee,
                        unless otherwise specified;

             (f)        a term defined in the Trust Indenture Act has the same
                        meaning when used in this Series A Capital Securities
                        Guarantee, unless otherwise defined in this Series A
                        Capital Securities Guarantee or unless the context,
                        otherwise requires; and

             (g)        a reference to the singular includes the plural and vice
                        versa.

             "AFFILIATE" has the same meaning as given to that term in Rule 405
under the Securities Act of 1933, as amended, or any successor rule thereunder.


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                  "BUSINESS DAY" means any day other than a Saturday or a
Sunday, or a day on which banking institutions in The City of New York or
Syracuse, New York are authorized or required by law or executive order to
close.

                  "CAPITAL SECURITIES GUARANTEE TRUSTEE" means The Bank of New
York, a New York banking corporation, until a Successor Capital Securities
Guarantee Trustee has been appointed and has accepted such appointment pursuant
to the terms of this Series A Capital Securities Guarantee and thereafter means
each such Successor Capital Securities Guarantee Trustee.

                  "COMMON SECURITIES" means the securities representing common
undivided beneficial interests in the assets of the Issuer.

                  "CORPORATE TRUST OFFICE" means the office of the Capital
Securities Guarantee Trustee at which the corporate trust business of the
Capital Securities Guarantee Trustee shall, at any particular time, be
principally administered, which office at the date of execution of this
Agreement is located at 101 Barclay Street, 21 West, New York, New York 10286.

                  "COVERED PERSON" means any Holder or beneficial owner of
Series A Capital Securities.

                  "DEBENTURES" means the series of subordinated debt securities
of the Guarantor designated the 9.25% Series A Junior Subordinated Deferrable
Interest Debentures due February 1, 2027 held by the Property Trustee (as
defined in the Declaration) of the Issuer.

                  "EVENT OF DEFAULT" means a default by the Guarantor on any of
its payment or other obligations under this Series A Capital Securities
Guarantee.

                  "GUARANTEE PAYMENTS" means the following payments or
distributions, without duplication, with respect to the Series A Capital
Securities, to the extent not paid or made by the Issuer: (i) any accumulated
and unpaid Distributions (as defined in the Declaration) that are required to be
paid on such Series A Capital Securities to the extent the Issuer has funds on
hand legally available therefor at such time, (ii) the redemption price,
including all accumulated and unpaid Distributions to the date of redemption
(the "Redemption Price") to the extent the Issuer has funds on hand legally
available therefor at such time, with respect to any Series A Capital Securities
called for redemption by the Issuer, and (iii) upon a voluntary or involuntary
termination and liquidation of the Issuer (other than in connection with the
distribution of Debentures to the Holders in exchange for Series A Capital
Securities as provided in the Declaration), the lesser of (a) the aggregate of
the liquidation


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amount and all accumulated and unpaid Distributions on the Series A Capital
Securities to the date of payment, to the extent the Issuer has funds on hand
legally available therefor, and (b) the amount of assets of the Issuer remaining
available for distribution to Holders in liquidation of the Issuer. If an Event
of Default has occurred and is continuing, no Guarantee Payments under the
Common Securities Guarantee with respect to the Common Securities or any
guarantee payment under any Other Common Securities Guarantees shall be made
until the Holders shall be paid in full the Guarantee Payments to which they are
entitled under this Series A Capital Securities Guarantee.

                  "HOLDER" shall mean any holder, as registered on the books and
records of the Issuer, of any Series A Capital Securities; provided, however,
that, in determining whether the holders of the requisite percentage of Series A
Capital Securities have given any request, notice, consent or waiver hereunder,
"Holder" shall not include the Guarantor or any Affiliate of the Guarantor.

                  "INDEMNIFIED PERSON" means the Capital Securities Guarantee
Trustee, any Affiliate of the Capital Securities Guarantee Trustee, or any
officers, directors, shareholders, members, partners, employees,
representatives, nominees, custodians or agents of the Capital Securities
Guarantee Trustee.

                  "INDENTURE" means the Indenture dated as of February 4, 1997,
among the Guarantor (the "Debenture Issuer") and The Bank of New York, as
trustee (the "Property Trustee"), pursuant to which the Debentures are to be
issued to the Property Trustee of the Issuer.

                  "INDENTURE EVENT OF DEFAULT" shall mean any event specified in
Section 5.01 of the Indenture.

                  "MAJORITY IN LIQUIDATION AMOUNT OF THE SERIES A CAPITAL
SECURITIES" means, except as provided by the Trust Indenture Act, a vote by
Holder(s) of more than 50% of the aggregate liquidation amount (including the
stated amount that would be paid on redemption, liquidation or otherwise, plus
accumulated and unpaid Distributions to the date upon which the voting
percentages are determined) of all Series A Capital Securities.

                  "OFFICERS' CERTIFICATE" means, with respect to any person, a
certificate signed by the Chairman, a Vice Chairman, the Chief Executive
Officer, the President, a Vice President, the Comptroller, the Secretary or an
Assistant Secretary of the Guarantor. Any Officers' Certificate delivered with
respect to compliance with a condition or covenant provided for in this Series A
Capital Securities Guarantee (other than pursuant to Section 314(d)(4) of the
Trust Indenture Act) shall include:


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                  (a) a statement that each officer signing the Officers'
         Certificate has read the covenant or condition and the definitions
         relating thereto;

                  (b) a statement that each such officer has made such
         examination or investigation as, in such officer's opinion, is
         necessary to enable such officer to express an informed opinion as to
         whether or not such covenant or condition has been complied with; and

                  (c) a statement as to whether, in the opinion of each such
         officer, such condition or covenant has been complied with.

                  "OTHER COMMON SECURITIES GUARANTEES" shall have the same
meaning as "Other Guarantees" as defined in the Common Securities Guarantee.

                  "OTHER DEBENTURES" means all junior subordinated debentures
issued by the Guarantor from time to time and sold to trusts to be established
by the Guarantor (if any), in each case similar to the Issuer.

                  "OTHER GUARANTEES" means all guarantees to be issued by the
Guarantor with respect to capital securities (if any) similar to the Series A
Capital Securities issued by other trusts to be established by the Guarantor (if
any), in each case similar to the Issuer.

                  "PERSON" means a legal person, including any individual,
corporation, estate, partnership, joint venture, association, joint stock
company, limited liability company, trust, unincorporated association or
government or any agency or political subdivision thereof, or any other entity
of whatever nature.

                  "REGISTRATION RIGHTS AGREEMENT" means the Registration Rights
Agreement, dated as of February 4, 1997, by and among the Guarantor, the Issuer
and the Initial Purchasers named therein as such agreement may be amended,
modified or supplemented from time to time.

                  "RESPONSIBLE OFFICER" means, with respect to the Capital
Securities Guarantee Trustee, any officer within the Corporate Trust Office of
the Capital Securities Guarantee Trustee, including any vice president, any
assistant vice president, any assistant secretary, the treasurer, any assistant
treasurer or other officer of the Corporate Trust office of the Capital
Securities Guarantee Trustee customarily performing functions similar to those
performed by any of the above designated officers and also means, with respect
to a particular corporate trust matter, any other officer to whom such matter is


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referred because of that officer's knowledge of and familiarity with the
particular subject.

                  "SUCCESSOR CAPITAL SECURITIES GUARANTEE TRUSTEE" means a
successor Capital Securities Guarantee Trustee possessing the qualifications to
act as Capital Securities Guarantee Trustee under Section 4.1.

                  "TRUST INDENTURE ACT" means the Trust Indenture Act of 1939,
as amended.

                  "TRUST SECURITIES" means the Common Securities and the Series
A Capital Securities and Series B Capital Securities, collectively.

                                   ARTICLE II
                               TRUST INDENTURE ACT

SECTION 2.1     TRUST INDENTURE ACT; APPLICATION

                  (a) This Series A Capital Securities Guarantee is subject to
the provisions of the Trust Indenture Act that are required to be part of this
Series A Capital Securities Guarantee and shall, to the extent applicable, be
governed by such provisions; and

                  (b) if and to the extent that any provision of this Series A
Capital Securities Guarantee limits, qualifies or conflicts with the duties
imposed by Section 310 to 317, inclusive, of the Trust Indenture Act, such
imposed duties shall control.

SECTION 2.2     LISTS OF HOLDERS OF SECURITIES

                  (a) The Guarantor shall provide the Capital Securities
Guarantee Trustee (unless the Capital Securities Guarantee Trustee is otherwise
the registrar of the Capital Securities) with a list, in such form as the
Capital Securities Guarantee Trustee may reasonably require, of the names and
addresses of the Holders ("List of Holders") as of such date, (i) within one
Business Day after the fifteenth day of the month prior to the month in which a
relevant Distribution date falls, and (ii) at any other time within 30 days of
receipt by the Guarantor of a written request for a List of Holders as of a date
no more than 14 days before such List of Holders is given to the Capital
Securities Guarantee Trustee, PROVIDED that the Guarantor shall not be obligated
to provide such List of Holders at any time the List of Holders does not differ
from the most recent List of Holders given to the Capital Securities Guarantee
Trustee by the Guarantor. The Capital Securities Guarantee Trustee may destroy
any List of Holders previously given to it on receipt of a new List of Holders.


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                  (b) The Capital Securities Guarantee Trustee shall comply with
its obligations under Sections 311(a), 311(b) and Section 312(b) of the Trust
Indenture Act.

SECTION 2.3   REPORTS BY THE CAPITAL SECURITIES GUARANTEE TRUSTEE

                  Within 60 days after May 15 of each year, commencing May 15,
1997, the Capital Securities Guarantee Trustee shall provide to the Holders such
reports as are required by Section 313 of the Trust Indenture Act, if any, in
the form and in the manner provided by Section 313 of the Trust Indenture Act.
The Capital Securities Guarantee Trustee shall also comply with the other
requirements of Section 313 of the Trust Indenture Act.

SECTION 2.4   PERIODIC REPORTS TO CAPITAL SECURITIES GUARANTEE TRUSTEE

                  The Guarantor shall provide to the Capital Securities
Guarantee Trustee such documents, reports and information as required by Section
314 (if any) and the compliance certificate required by Section 314 of the Trust
Indenture Act in the form, in the manner and at the times required by Section
314 of the in Trust Indenture Act. Delivery of such reports, information and
documents to the Capital Securities Guarantee Trustee is for informational
purposes only and the Capital Securities Guarantee Trustee's receipt of such
shall not constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Guarantor's
compliance with any of its covenants hereunder (as to which the Capital
Securities Guarantee Trustee is entitled to rely exclusively on Officers,
Certificates).

SECTION 2.5   EVIDENCE OF COMPLIANCE WITH CONDITIONS PRECEDENT

                  The Guarantor shall provide to the Capital Securities
Guarantee Trustee such evidence of compliance with any conditions precedent, if
any, provided for in this Series A Capital Securities Guarantee that relate to
any of the matters set forth in Section 314(c) of the Trust Indenture Act. Any
certificate or opinion required to be given by an officer pursuant to Section
314(c)(1) may be given in the form of an Officers' Certificate.

SECTION 2.6   EVENTS OF DEFAULT; WAIVER

                  The Holders of a Majority in liquidation amount of Series A
Capital Securities may, by vote, on behalf of all Holders, waive any past Event
of Default and its consequences. Upon such waiver, any such Event of Default
shall cease to exist, and any Event of Default arising therefrom shall be deemed
to have been cured, for every purpose of this Series A Capital Securities
Guarantee, but no such waiver shall extend to any subsequent or


                                       7
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other default or Event of Default or impair any right consequent thereon.

SECTION 2.7    EVENT OF DEFAULT; NOTICE

                  (a) The Capital Securities Guarantee Trustee shall, within 90
days after the occurrence of a default with respect to this Capital Securities
Guarantee, mail by first class postage prepaid, to all Holders, notices of all
defaults actually known to a Responsible Officer, unless such defaults have been
cured before the giving of such notice, provided, that, except in the case of
default in the payment of any Guarantee Payment, the Capital Securities
Guarantee Trustee shall be protected in withholding such notice if and so long
as the board of directors, the executive committee, or a trust committee of
directors and/or a Responsible officer in good faith determines that the
withholding of such notice is in the interests of the Holders.

                  (b) The Capital Securities Guarantee Trustee shall not be
deemed to have knowledge of any Event of Default unless the Capital Securities
Guarantee Trustee shall have received written notice from the Guarantor, or a
Responsible Officer charged with the administration of the Declaration shall
have obtained actual knowledge, of such Event of Default.

SECTION 2.8   CONFLICTING INTERESTS

                  The Declaration shall be deemed to be specifically described
in this Series A Capital Securities Guarantee for the purposes of clause (i) of
the first proviso contained in Section 310(b) of the Trust Indenture Act.

                                   ARTICLE III
                          POWERS, DUTIES AND RIGHTS OF
                      CAPITAL SECURITIES GUARANTEE TRUSTEE

SECTION 3.1    POWERS AND DUTIES OF THE CAPITAL SECURITIES GUARANTEE TRUSTEE

                  (a) This Series A Capital Securities Guarantee shall be held
by the Capital Securities Guarantee Trustee for the benefit of the Holders, and
the Capital Securities Guarantee Trustee shall not transfer this Series A
Capital Securities Guarantee to any Person except a Holder exercising his or her
rights pursuant to Section 5.4(b) or to a Successor Capital Securities Guarantee
Trustee on acceptance by such Successor Capital Securities Guarantee Trustee of
its appointment to act as Successor Capital Securities Guarantee Trustee. The
right, title and interest of the Capital Securities Guarantee Trustee shall
automatically vest in any Successor Capital Securities Guarantee Trustee, and
such vesting and succession of title shall be effective whether or not


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conveyancing documents have been executed and delivered pursuant to the
appointment of such Successor Capital Securities Guarantee Trustee.

                  (b) If an Event of Default actually known to a Responsible
officer has occurred and is continuing, the Capital Securities Guarantee Trustee
shall enforce this Series A Capital Securities Guarantee for the benefit of the
Holders.

                  (c) The Capital Securities Guarantee Trustee, before the
occurrence of any Event of Default and after the curing of all Events of Default
that may have occurred, shall undertake to perform only such duties as are
specifically set forth in this Series A Capital Securities Guarantee, and no
implied covenants shall be read into this Series A Capital Securities Guarantee
against the Series A Capital Securities Guarantee Trustee. In case an Event of
Default has occurred (that has not been cured or waived pursuant to Section 2.6)
and is actually known to a Responsible Officer, the Capital Securities Guarantee
Trustee shall exercise such of the rights and powers vested in it by this Series
A Capital Securities Guarantee, and use the same degree of care and skill in its
exercise thereof, as a prudent person would exercise or use under the
circumstances in the conduct of his or her own affairs.

                  (d) No provision of this Series A Capital Securities Guarantee
shall be construed to relieve the Capital Securities Guarantee Trustee from
liability for its own negligent action, its own negligent failure to act, or its
own willful misconduct, except that:

                  (i) prior to the occurrence of any Event of Default and after
         the curing or waiving of all such Events of Default that may have
         occurred:

                        (A) the duties and obligations of the Capital Securities
                  Guarantee Trustee shall be determined solely by the express
                  provisions of this Series A Capital Securities Guarantee, and
                  the Capital Securities Guarantee Trustee shall not be liable
                  except for the performance of such duties and obligations as
                  are specifically set forth in this Series A Capital Securities
                  Guarantee, and no implied covenants or obligations shall be
                  read into this Series A Capital Securities Guarantee against
                  the Capital Securities Guarantee Trustee; and

                        (B) in the absence of bad faith on the part of the
                  Capital Securities Guarantee Trustee, the Capital Securities
                  Guarantee Trustee may conclusively rely, as to the truth of
                  the statements and the correctness of the opinions expressed
                  therein, upon any certificates


                                       9
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                  or opinions furnished to the Capital Securities Guarantee
                  Trustee and conforming to the requirements of this Series A
                  Capital Securities Guarantee; but in the case of any such
                  certificates or opinions that by any provision hereof are;
                  specifically required to be furnished to the Capital
                  Securities Guarantee Trustee, the Capital Securities Guarantee
                  Trustee shall be under a duty to examine the same to determine
                  whether or not they conform to the requirements of this Series
                  A Capital Securities Guarantee;

                        (ii) the Capital Securities Guarantee Trustee shall not
         be liable for any error of judgment made in good faith by a Responsible
         Officer, unless it shall be proved that the Capital Securities
         Guarantee Trustee was negligent in ascertaining the pertinent facts
         upon which such judgment was made;

                        (iii) the Capital Securities Guarantee Trustee shall not
         be liable with respect to any action taken or omitted to be taken by it
         in good faith in accordance with the direction of the Holders of a
         Majority in liquidation amount of the Series A Capital Securities
         relating to the time, method and place of conducting any proceeding for
         any remedy available to the Capital Securities Guarantee Trustee, or
         exercising any trust or power conferred upon the Capital Securities
         Guarantee Trustee under this Series A Capital Securities Guarantee; and

                        (iv) no provision of this Series A Capital Securities
         Guarantee shall require the Capital Securities Guarantee Trustee to
         extend or risk its own funds or otherwise incur personal financial
         liability in the performance of any of its duties or in the exercise of
         any of its rights or powers, if the Capital Securities Guarantee
         Trustee shall have reasonable grounds for believing that the repayment
         of such funds or liability is not reasonably assured to it under the
         terms of this Series A Capital Securities Guarantee or indemnity,
         reasonably satisfactory to the Capital Securities Guarantee Trustee,
         against such risk or liability is not reasonably assured to it.

SECTION 3.2    CERTAIN RIGHTS OF CAPITAL SECURITIES GUARANTEE TRUSTEE

                  (a) Subject to the provisions of Section 3.1:

                  (i) The Capital Securities Guarantee Trustee may conclusively
         rely, and shall be fully protected in acting or refraining from acting,
         upon any resolution, certificate, statement, instrument, opinion,
         report, notice, request, direction, consent, order, bond, debenture,
         note, other


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<PAGE>

evidence of indebtedness or other paper or document believed by it to be genuine
and to have been signed, sent or presented by the proper party or parties.

         (ii) Any direction or act of the Guarantor contemplated by this Series
A Capital Securities Guarantee may be sufficiently evidenced by an Officers'
Certificate.

         (iii) Whenever, in the administration of this Series A Capital
Securities Guarantee, the Capital Securities Guarantee Trustee shall deem it
desirable that a matter be proved or established before taking, suffering or
omitting any action hereunder, the Capital Securities Guarantee Trustee (unless
other evidence is herein specifically prescribed) may, in the absence of bad
faith on its part, request and conclusively rely upon an Officers' Certificate
which, upon receipt of such request, shall be promptly delivered by the
Guarantor.

         (iv) The Capital Securities Guarantee Trustee shall have no duty to see
to any recording, filing or registration of any instrument (or any rerecording,
refiling or registration thereof).

         (v) The Capital Securities Guarantee Trustee may consult with counsel
of its selection, and the advice or opinion of such counsel with respect to
legal matters shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by it hereunder in good faith and in
accordance with such advice or opinion. Such counsel may be counsel to the
Guarantor or any of its Affiliates and may include any of its employees. The
Capital Securities Guarantee Trustee shall have the right at any time to seek
instructions concerning the administration of this Series A Capital Securities
Guarantee from any court of competent jurisdiction.

         (vi) The Capital Securities Guarantee Trustee shall be under no
obligation to exercise any of the rights or powers vested in it by this Series A
Capital Securities Guarantee at the request or direction of any Holder, unless
such Holder shall have provided to the Capital Securities Guarantee Trustee such
security and indemnity, reasonably satisfactory to the Capital Securities
Guarantee Trustee, against the costs, expenses (including attorneys' fees and
expenses and the expenses of the Capital Securities Guarantee Trustee's agents,
nominees or custodians) and liabilities that might be incurred by it in
complying with such request or direction, including such reasonable advances as
may be requested by the Capital Securities Guarantee Trustee; provided that,
nothing contained in this Section 3.2(a)(vi) shall be taken to relieve the
Capital Securities Guarantee


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Trustee, upon the Occurrence of an Event Of Default, of its obligation to
exercise the rights and powers vested in it by this Series A Capital Securities
Guarantee.

         (vii) The Capital Securities Guarantee Trustee shall not be bound to
make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other
paper or document, but the Capital Securities Guarantee Trustee, in its
discretion, may make such further inquiry or investigation into such facts or
matters as it may see fit.

         (viii) The Capital Securities Guarantee Trustee may execute any of the
trusts or powers hereunder or perform any duties hereunder either directly or by
or through agents, nominees, custodians or attorneys, and the Capital Securities
Guarantee Trustee shall not be responsible for any misconduct or negligence on
the part of any agent or attorney appointed with due care by it hereunder.

         (ix) Any action taken by the Capital Securities Guarantee Trustee or
its agents hereunder shall bind the Holders, and the signature of the Capital
Securities Guarantee Trustee or its agents alone shall be sufficient and
effective to perform any such action. No third party shall be required to
inquire as to the authority of the Capital Securities Guarantee Trustee to so
act or as to its compliance with any of the terms and provisions of this Series
A Capital Securities Guarantee, both of which shall be conclusively evidenced by
the Capital Securities Guarantee Trustee's or its agent's taking such action.

         (x) Whenever in the administration of this Series A Capital Securities
Guarantee the Capital Securities Guarantee Trustee shall deem it desirable to
receive instructions with respect to enforcing any remedy or right or taking any
other action hereunder, the Capital Securities Guarantee Trustee (i) may request
instructions from the Holders of a Majority in liquidation amount of the Series
A Capital Securities (ii) may refrain from enforcing such remedy or right or
taking such other action until such instructions are received, and (iii) shall
be protected in conclusively relying on or acting in accordance with such
instructions.

         (xi) The Capital Securities Guarantee Trustee shall not be liable for
any action taken, suffered, or omitted to be taken by it in good faith, without
negligence, and reasonably believed by it to be authorized or within the
discretion or rights or powers, conferred upon it by this Series A Capital
Securities Guarantee.


                                       12
<PAGE>


                  (b) No provision of this Series A Capital Securities Guarantee
shall be deemed to impose any duty or obligation on the Capital Securities
Guarantee Trustee to perform any act or acts or exercise any right, power, duty
or obligation conferred or imposed on it in any jurisdiction in which it shall
be illegal, or in which the Capital Securities Guarantee Trustee shall be
unqualified or incompetent in accordance with applicable law, to perform any
such act or acts or to exercise any such right, power, duty or obligation. No
permissive power or authority available to the Capital Securities Guarantee
Trustee shall be construed to be a duty.

         SECTION 3.3.   NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SERIES A
                            CAPITAL SECURITIES GUARANTEE

                  The recitals contained in this Series A Capital Securities
Guarantee shall be taken as the statements of the Guarantor, and the Capital
Securities Guarantee Trustee does not assume any responsibility for their
correctness. The Capital Securities Guarantee Trustee makes no representation as
to the validity or sufficiency of this Series A Capital Securities Guarantee.

                                   ARTICLE IV
                      CAPITAL SECURITIES GUARANTEE TRUSTEE

SECTION 4.1    CAPITAL SECURITIES GUARANTEE TRUSTEE; ELIGIBILITY

                  (a) There shall at all times be a Capital Securities Guarantee
Trustee which shall:

                  (i) not be an Affiliate of the Guarantor; and

                  (ii) be a corporation organized and doing business under the
laws of the United States of America or any State or Territory thereof or of the
District of Columbia, or a corporation or Person permitted by the Securities and
Exchange Commission to act as an institutional trustee under the Trust Indenture
Act, authorized under such laws to exercise corporate trust powers, having a
combined capital and surplus of at least 50 million U.S. dollars ($50,000,000),
and subject to supervision or examination by Federal, State, Territorial or
District of Columbia authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the
supervising or examining authority referred to above, then, for the purposes of
this Section 4.1(a)(ii), the combined capital and surplus of such corporation
shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published.


                                       13
<PAGE>

                  (b) If at any time the Capital Securities Guarantee Trustee
shall cease to be eligible to so act under Section 4.1(a), the Capital
Securities Guarantee Trustee shall immediately resign in the manner and with the
effect set out in Section 4.2 (c).

                  (c) If the Capital Securities Guarantee Trustee has or shall
acquire any "conflicting interest" within the meaning of Section 310(b) of the
Trust Indenture Act, the Capital securities Guarantee Trustee and Guarantor
shall in all respects comply with the provisions of Section 310(b) of the Trust
Indenture Act.

SECTION 4.2    APPOINTMENT, REMOVAL AND RESIGNATION OF CAPITAL SECURITIES
                           GUARANTEE TRUSTEE

                  (a) Subject to Section 4.2(b), the Capital Securities
Guarantee Trustee may be appointed or removed without cause at any time by the
Guarantor except during an Event of Default.

                  (b) The Capital Securities Guarantee Trustee shall not be
removed in accordance with Section 4.2(a) until a Successor Capital Securities
Guarantee Trustee has been appointed and has accepted such appointment by
written instrument executed by such Successor Capital Securities Guarantee
Trustee and delivered to the Guarantor.

                  (c) The Capital Securities Guarantee Trustee shall hold office
until a Successor Capital Securities Guarantee Trustee shall have been appointed
or until its removal or resignation. The Capital Securities Guarantee Trustee
may resign from office (without need for prior or subsequent accounting) by an
instrument in writing executed by the Capital Securities Guarantee Trustee and
delivered to the Guarantor, which resignation shall not take effect until a
Successor Capital Securities Guarantee Trustee has been appointed and has
accepted such appointment by instrument in writing executed by such Successor
Capital Securities Guarantee Trustee and delivered to the Guarantor and the
resigning Capital Securities Guarantee Trustee.

                  (d) If no Successor Capital Securities Guarantee Trustee shall
have been appointed and accepted appointment as provided in this Section 4.2
within 60 days after delivery of an instrument of removal or resignation, the
Capital Securities Guarantee Trustee resigning or being removed may petition any
court of competent jurisdiction for appointment of a Successor Capital
Securities Guarantee Trustee. Such court may thereupon, after prescribing such
notice, if any, as it may deem proper, appoint a Successor Capital Securities
Guarantee Trustee.

                  (e) No Capital Securities Guarantee Trustee shall be liable
for the acts or omissions to act of any Successor Capital Securities Guarantee
Trustee.


                                       14
<PAGE>


                  (f) Upon termination of this Series A Capital Securities
Guarantee or removal or resignation of the Capital Securities Guarantee Trustee
pursuant to this Section 4.2, the Guarantor shall pay to the Capital Securities
Guarantee Trustee all amounts due to the Capital Securities Guarantee Trustee
accrued to the date of such termination, removal or resignation.

                                    ARTICLE V
                                    GUARANTEE

SECTION 5.1   GUARANTEE

                  The Guarantor irrevocably and unconditionally agrees to pay in
full to the Holders the Guarantee Payments (without duplication of amounts
theretofore paid by the issuer), as and when due, regardless of any defense,
right of set-off or counter-claim that the Issuer may have or assert. The
Guarantor's obligation to make a Guarantee Payment may be satisfied by direct
payment of the required amounts by the Guarantor to the Holders or by causing
the Issuer to pay such amounts to the Holders.

SECTION 5.2   WAIVER OF NOTICE AND DEMAND

                  The Guarantor hereby waives notice of acceptance of this
Series A Capital Securities Guarantee and of any liability to which it applies
or may apply, presentment, demand for payment, any right to require a proceeding
first against the Issuer or any other Person before proceeding against the
Guarantor, protests notice of nonpayment, notice of dishonor, notice of
redemption and all other notices and demands.

SECTION 5.3   OBLIGATIONS NOT AFFECTED

                  The obligations, covenants, agreements and duties of the
Guarantor under this Series A Capital Securities Guarantee shall in no way be
affected or impaired by reason of the happening from time to time of any of the
following:

                  (a) the release or waiver, by operation of law or otherwise,
of the performance or observance by the Issuer of any express or implied
agreement, covenant, term or condition relating to the Series A Capital
Securities to be performed or observed by the Issuer;

                  (b) the extension of time for the payment by the Issuer of all
or any portion of the Distributions, Redemption Price, Liquidation Distribution
or any other sums payable under the terms of the Series A Capital Securities or
the extension of time for the performance of any other obligation under, arising
out of, or in connection with, the Series A Capital Securities (other than an
extension of time for payment of Distributions,


                                       15
<PAGE>


Redemption Price, Liquidation Distribution or other sum payable that results
from the extension of any interest payment period on the Debentures permitted by
the Indenture);

                  (c) any failure, omission, delay or lack of diligence on the
part of the Holders to enforce, assert or exercise any right, privilege, power
or remedy conferred on the Holders pursuant to the terms of the Series A Capital
Securities, or any action on the part of the Issuer granting indulgence or
extension of any kind;

                  (d) the voluntary or involuntary liquidation, dissolution,
sale of any collateral, receivership, insolvency, bankruptcy, assignment for the
benefit of creditors, reorganization, arrangement, composition or readjustment
of debt of, or other similar proceedings affecting, the Issuer or any of the
assets of the Issuer;

                  (e) any invalidity of, or defect or deficiency in, the Series
A Capital Securities;

                  (f) the settlement or compromise of any obligation guaranteed
hereby or hereby incurred;

                  (g) the consummation of the Exchange offer; or

                  (h) any other circumstance whatsoever that might otherwise
constitute a legal or equitable discharge or defense of a guarantor, it being
the intent of this Section 5.3 that the obligations of the Guarantor with
respect to the Guarantee Payments shall be absolute and unconditional under any
and all circumstances.

                  There shall be no obligation of the Holders to give notice to,
or obtain consent of, the Guarantor with respect to the happening of any of the
foregoing.

SECTION 5.4   RIGHTS OF HOLDERS

                  (a) The Holders of a Majority in liquidation amount of the
Series A Capital Securities have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the Capital Securities
Guarantee Trustee in respect of this Series A Capital Securities Guarantee or
exercising any trust or power conferred upon the Capital Securities Guarantee
Trustee under this Series A Capital Securities Guarantee.

                  (b) If the Capital Securities Guarantee Trustee fails to
enforce such Series A Capital Securities Guarantee, any Holder may institute a
legal proceeding directly against the Guarantor to enforce the Capital
Securities Guarantee Trustee's rights


                                       16
<PAGE>


under this Series A Capital Securities Guarantee, without first instituting a
legal proceeding against the Issuer, the Capital Securities Guarantee Trustee or
any other person or entity. The Guarantor waives any right or remedy to require
that any action be brought first against the Issuer or any other person or
entity before proceeding directly against the Guarantor.

SECTION 5.5     GUARANTEE OF PAYMENT

                  This Series A Capital Securities Guarantee creates a guarantee
of payment and not of collection.

SECTION 5.6     SUBROGATION

                  The Guarantor shall be subrogated to all (if any) rights of
the Holders against the Issuer in respect of any amounts paid to such Holders by
the Guarantor under this Series A Capital Securities Guarantee; provided,
however, that the Guarantor shall not (except to the extent required by
mandatory provisions of law) be entitled to enforce or exercise any right that
it may acquire by way of subrogation or any indemnity, reimbursement or other
agreement, in all cases as a result of payment under this Series A Capital
Securities Guarantee, if, at the time of any such payment, any amounts are due
and unpaid under this Series A Capital Securities Guarantee. If any amount shall
be paid to the Guarantor in violation of the preceding sentence, the Guarantor
agrees to hold such amount in trust for the Holders and to pay over such amount
to the Holders.

SECTION 5.7    INDEPENDENT OBLIGATIONS

                  The Guarantor acknowledges that its obligations hereunder are
independent of the obligations of the Issuer with respect to the Series A
Capital Securities, and that the Guarantor shall be liable as principal and as
debtor hereunder to make Guarantee Payments pursuant to the terms of this Series
A Capital Securities Guarantee notwithstanding the occurrence of any event
referred to in subsections (a) through (h), inclusive, of Section 5.3 hereof.

                                   ARTICLE VI
                    LIMITATION OF TRANSACTIONS; SUBORDINATION

SECTION 6.1   LIMITATION OF TRANSACTIONS

                  So long as any Capital Securities remain outstanding, the
Guarantor shall not (i) declare or pay any dividends or distributions on, or
redeem, purchase, acquire, or make a liquidation payment with respect to, any of
the Guarantor's capital stock (which includes common and preferred stock) or
(ii) make any payment of principal of, or premium, if any, or interest on


                                       17
<PAGE>


or repay, repurchase or redeem any debt securities of the Guarantor (including
any Other Debentures) that rank PARI PASSU with or junior in right of payment to
the Debentures or (iii) make any guarantee payments with respect to any
guarantee by the Guarantor of the debt securities of any subsidiary of the
Guarantor (including other Guarantees) if such guarantee ranks PARI PASSU with
or junior in right of payment to the Debentures (other than (a) dividends or
distributions in shares of, or options, warrants, rights to subscribe for or
purchase shares of, common stock of the Guarantor, (b) any declaration of a
dividend in connection with the implementation of a stockholders' rights plan,
or the issuance of stock under any such plan in the future, or the redemption or
repurchase of any such rights pursuant thereto, (c) payments under this Series A
Capital Securities Guarantee or the Common Guarantee, (d) as a result of a
reclassification of the Guarantor's capital stock or the exchange or the
conversion of one class or series of the Guarantor's capital stock for another
class or series of the Guarantor's capital stock, (e) the purchase of fractional
interests in shares of the Guarantor's capital stock pursuant to the conversion
or exchange provisions of such capital stock or the security being converted or
ex- changed, and (f) purchases of common stock related to the issuance of common
stock or rights under any of the Guarantor's benefit plans for its directors,
officers or employees or any of the Guarantor's dividend reinvestment plans) if
at such time (i) there shall have occurred any event of which the Guarantor has
actual knowledge that (a) is, or with the giving of notice or the lapse of time,
or both, would be an Indenture Event of Default and (b) in respect of which the
Guarantor shall not have taken reasonable steps to cure, (ii) if such Debentures
are held by the Property Trustee, the Guarantor shall be in default with respect
to its payment of any obligations under this Series A Capital Securities
Guarantee or (iii) the Guarantor shall have given notice of its election of the
exercise of its right to extend the interest payment period pursuant to Section
16.01 of the Indenture and any such extension shall be continuing.

SECTION 6.2    RANKING

                  This Series A Capital Securities Guarantee will constitute an
unsecured obligation of the Guarantor and will rank (i) subordinate and junior
in right of payment to Senior Indebtedness (as defined in the Indenture), to the
same extent and in the same manner that the Debentures are subordinated to
Senior Indebtedness pursuant to the Indenture, (ii) PARI PASSU with the
Debentures, the Other Debentures, the Common Securities Guarantee and any Other
Guarantee and any Other Common Securities Guarantee, and (iii) senior to the
Guarantor's capital stock.


                                       18
<PAGE>

                                   ARTICLE VII
                                   TERMINATION

SECTION 7.1     TERMINATION

                  This Series A Capital Securities Guarantee shall terminate (i)
upon full payment of the Redemption Price (as defined in the Declaration) of all
Series A Capital Securities, (ii) upon liquidation of the Issuer, the full
payment of the amounts payable in accordance with the Declaration or the
distribution of the Debentures to the Holders and the holders of the Common
Securities or (iii) upon exchange of all the Series A Capital Securities for the
Series B Capital Securities in the Exchange Offer. Notwithstanding the
foregoing, this Capital Securities Guarantee will continue to be effective or
will be reinstated, as the case may be, if at any time any Holder must restore
payment of any sums paid under the Series A Capital Securities or under this
Series A Capital Securities Guarantee.

                                  ARTICLE VIII
                                 INDEMNIFICATION

SECTION 8.1    EXCULPATION

                  (a) No Indemnified Person shall be liable, responsible or
accountable in damages or otherwise to the Guarantor or any Covered Person for
any loss, damage or claim incurred by reason of any act or omission performed or
omitted by such Indemnified Person in good faith in accordance with this Series
A Capital Securities Guarantee and in a manner that such Indemnified Person
reasonably believed to be within the scope of the authority conferred on such
Indemnified Person by this Series A Capital Securities Guarantee or by law,
except that an Indemnified Person shall be liable for any such loss, damage or
claim incurred by reason of such Indemnified Person's negligence or willful
misconduct with respect to such acts or omissions.

                  (b) An Indemnified Person shall be fully protected in relying
in good faith upon the records of the Guarantor and upon such information,
opinions, reports or statements presented to the Guarantor by any Person as to
matters the Indemnified Person reasonably believes are within such other
Person's professional or expert competence and who has been selected with
reasonable care by or on behalf of the Guarantor, including information,
opinions, reports or statements as to the value and amount of the assets,
liabilities, profits, losses, or any other facts pertinent to the existence and
amount of assets from which Distributions to Holders might properly be paid.


                                       19
<PAGE>


SECTION 8.2     INDEMNIFICATION

                  The Guarantor agrees to indemnify each Indemnified Person for,
and to hold each Indemnified Person harmless against, any and all loss,
liability, damage, claim or expense incurred without negligence or bad faith on
its part, arising out of or in connection with the acceptance or administration
of the trust or trusts hereunder, including the costs and expenses (including
reasonable legal fees and expenses) of defending itself against, or
investigating, any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder. The obligation to
indemnify as set forth in this Section 8.2 shall survive the termination of this
Series A Capital Securities Guarantee.

                                   ARTICLE IX
                                  MISCELLANEOUS

SECTION 9.1    SUCCESSORS AND ASSIGNS

                  All guarantees and agreements contained in this Series A
Capital Securities Guarantee shall bind the successors, assigns, receivers,
trustees and representatives of the Guarantor and shall inure to the benefit of
the Holders then outstanding.

SECTION 9.2    AMENDMENTS

                  Except with respect to any changes that do not materially
adversely affect the rights of Holders (in which case no consent of Holders will
be required), this Series A Capital Securities Guarantee may only be amended
with the prior approval of the Holders of a Majority in liquidation amount of
the Securities (including the stated amount that would be paid on redemption,
liquidation or otherwise, plus accrued and unpaid Distributions to the date upon
which the voting percentages are determined). The provisions of the Declaration
with respect to consents to amendments thereof (whether at a meeting or
otherwise) shall apply to the giving of such approval.

SECTION 9.3    NOTICES

                  All notices provided for in this Series A Capital Securities
Guarantee shall be in writing, duly signed by the party giving such notice, and
shall be delivered, telecopied or mailed by first class mail, as follows:

                  (a) If given to the Issuer, in care of the Administrative
Trustee at the Issuer's mailing address set forth below (or such other address
as the Issuer may give notice of to the Holders and the Capital Securities
Guarantee Trustee):


                                       20
<PAGE>


                              OnBank Capital Trust I
                              c/o ONBANCORP, INC.
                              P.O. Box 4983
                              Syracuse, New York 13221-4983
                              Attention: William M. LeBeau
                                               Administrative Trustee
                              Telecopy:   (315) 424-5951

                  (b) If given to the Capital Securities Guarantee Trustee, at
the Capital Securities Guarantee Trustee's mailing address set forth below (or
such other address as the Capital Securities Guarantee Trustee may give notice
of to the Holders and the issuer):

                              The Bank of New York
                              101 Barclay Street, 21 West
                              New York, New York 10286
                              Attention: Corporate Trust Trustee Administration
                              Telecopy: (212) 815-5915

                  (c) if given to the Guarantor, at the Guarantor's mailing
address set forth below (or such other address as the Guarantor may give notice
of to the Holders and the Capital Securities Guarantee Trustee):

                              ONBANCorp, Inc.
                              101 South Salina Street
                              Syracuse, New York 13202
                              Attention: Robert J. Berger
                                         Senior Vice President, Treasurer
                                         and Chief Financial Officer
                              Telecopy:  (315) 424-5951

                  (d) If given to any Holder, at the address set forth on the
books and records of the Issuer.

                  All such notices shall be deemed to have been given when
received in person, telecopied with receipt confirmed, or mailed by first class
mail, postage prepaid except that if a notice or other document is refused
delivery or cannot be delivered because of a changed address of which no notice
was given, such notice or other document shall be deemed to have been delivered
on the date of such refusal or inability to deliver.

SECTION 9.4   EXCHANGE OFFER

                  In the event an Exchange Offer Registration Statement (as
defined in the Registration Rights Agreement) becomes effective and the Issuer
issues any Series B Capital Securities in the Exchange Offer, the Guarantor will
enter into a new capital securities guarantee agreement, in substantially the
same form as


                                       21
<PAGE>

this Series A Capital Securities Guarantee, with respect to the Series B Capital
Securities.

SECTION 9.5    BENEFIT

                  This Series A Capital Securities Guarantee is solely for the
benefit of the Holders and, subject to Section 3.1(a), is not separately
transferable from the Series A Capital Securities.

SECTION 9.6    GOVERNING LAW

                  THIS SERIES A CAPITAL SECURITIES GUARANTEE SHALL BE GOVERNED
BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.


                                       22
<PAGE>

THIS SERIES A CAPITAL SECURITIES GUARANTEE is executed as of the day and year
first above written.

                                        ONBANCORP, INC., as Guarantor

                                        By: /s/ Robert J. Berger
                                            -----------------------------
                                        Name: Robert J. Berger
                                        Title: Senior Vice President,
                                               Treasurer & Chief
                                               Financial Officer

                                        THE BANK OF NEW YORK, as Capital
                                        Securities Guarantee Trustee

                                        By: /s/ Walter Gitlin
                                            -----------------------------
                                        Name: Walter Gitlin
                                        Title: Authorized Signatory