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                                                                      EXHIBIT 99




600 Powers Building, 16 West Main Street, Rochester,                585-454-1250
New York 14614-1601

FOR IMMEDIATE RELEASE                   CONTACT: Steven M. Morse
                                        VICE PRESIDENT & CHIEF FINANCIAL OFFICER
                                        (585) 454-1252




                     GENESEE CORPORATION LIQUIDATION UPDATE

     ROCHESTER, NEW YORK, November 6, 2003 - Genesee Corporation
(NASDAQ/NMS:GENBB) is currently operating under a plan of liquidation and
dissolution that was announced in August 2000, prior to which the Corporation's
Class B Common Stock was trading at approximately $23 per share. Under this
plan, the Corporation has divested its operating businesses and liquidated
substantially all of its other assets and has made liquidating distributions to
date of $37.50 per share. The Corporation's net assets in liquidation as
reported at August 2, 2003 were $5.10 per share. The Corporation expects to make
additional liquidating distributions as and when determined by its Board of
Directors. The Corporation is now ready to move forward to the next stage of its
plan.

     Within the next month or so, the Corporation intends to file a certificate
of dissolution with the New York Department of State, formally terminating its
corporate existence. However, as provided by law, the Corporation's existence
will continue for the purpose of winding up its affairs. The Corporation
anticipates that within approximately one month, its Class B Common Stock will
cease to be listed on the Nasdaq National Market and at that time the
Corporation will instruct its stock transfer agent and registrar to close the
Corporation's stock register.

     On October 31, 2003 the Corporation received a Nasdaq Staff Determination
indicating that, because the Corporation's stockholders' equity (net assets in
liquidation) is less than $10 million, its Class B Common Stock will be
de-listed from the Nasdaq National Market. The Nasdaq notice offered the
Corporation the opportunity to apply for listing on the Nasdaq SmallCap Market,
which would provide continued over-the-counter trading in the Class B Common
Stock. The cost of listing on the Nasdaq SmallCap Market for the balance of 2003
could be approximately $30,000, which includes a one-time non-refundable
entrance fee of $25,000. Given the Corporation's progress in executing its plan
of liquidation, the cost of a short-term listing on the Nasdaq SmallCap Market
makes this an unattractive option.









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     Therefore, the Corporation has requested a hearing before a Nasdaq Listing
Qualifications Board to review the Nasdaq Staff's Determination. The Corporation
expects that its Class B Common Stock will continue to trade on the Nasdaq
National Market, pending this hearing, for about a month. Unless the Nasdaq
National Market listing is extended, the Class B Common Stock will be de-listed
and there will cease to be an active over-the-counter trading market for the
Corporation's Class B Common Stock. At such time or thereafter, the Corporation
expects to instruct its stock transfer agent and registrar to close its stock
books, after which transfers of both its Class A and Class B Common Stock will
no longer be recognized by the Corporation.

     The practical impact of these expected developments is that shareholders
and others who may wish to purchase or sell the Corporation's Class A or Class B
Common Stock should do so promptly.

     In another cost-saving measure, the Corporation announced that it will not
be holding an annual meeting of its Class A Shareholders this year. Instead,
pursuant to the Corporation's Certificate of Incorporation, a written consent
executed by the Corporation's majority shareholder on November 5, 2003
re-elected Thomas E. Clement and Charles S. Wehle to serve as Directors until
2006.

     While the Corporation has targeted April 2004 for completion of its plan of
liquidation and dissolution, it has reported previously that there will be a
further phase required to wind up its business, necessitated by certain assets
and liabilities having a longer maturity or term. The duration of this
additional phase is unknown at this time. The Corporation intends to continue to
reduce operating costs whenever possible as it continues to carry out its plan
of liquidation and dissolution.

     FORWARD-LOOKING STATEMENTS. The preceding statements of intent and
expectations are subject to change in the event that the Corporation's analysis
of the relative costs and benefits of dissolution, de-listing from the Nasdaq
National Market and listing on the Nasdaq SmallCap market changes, and these
actions may be delayed by unforeseen factors. The Corporation undertakes no duty
to update these statements.