Agreement with Enlace Int, S.A. DE C.V. enables Pershing to continue expanding its global reach

JERSEY CITY, N.J., December 3, 2007 — Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, has been appointed by Enlace Int, S.A. DE C.V., to act as a principal clearing agent, focused specifically on its Mexican sovereign debt transactions. Enlace is one of the largest inter-dealer brokerage firms in Mexico and a member of the Mexican Securities Banking Commission.

This agreement establishes Pershing as the first provider of clearing services and settlement capabilities to the Mexican inter-dealer brokerage marketplace. It also further extends Pershing's international reach as a leading global provider of business solutions to many of the world's finest institutional and retail financial organizations.

Pershing's PerNet system, an innovative, Web-based middle office platform, will provide Enlace with the ability to monitor and reconcile accounts and trades and view transactions and reports based on customizable parameters. PerNet is fully integrated into Pershing's technology infrastructure and enables it to manage and oversee trade flows and counter-party risk on behalf of its customers.

Eduardo Riba, chief executive officer of Enlace Int, said, "Pershing has provided reliable and unparalleled clearing and settlement services to many leading global financial organizations for nearly 70 years. Their expertise in clearing our sovereign debt transactions will further enable us to continue to successfully grow our business."

Frank La Salla, managing director of the global securities services group at Pershing, said, "As Mexico's fixed income market continues to grow, it will require specialized expertise and an array of sophisticated, market-leading business solutions. Our agreement with Enlace adds a new dimension to our institutional fixed income clearing capabilities, and underscores our commitment to expand our global business. Enlace will benefit from our strategic focus on helping our customers enhance their business operations."

Established in Mexico in April 1993, Enlace was the first inter-dealer brokerage company authorized by the Mexican Central Bank. Since then, Enlace has been providing financial institutions with valuable and timely information on the Mexican financial markets. With a balanced combination of experienced people and advanced technologies, Enlace offers its customers efficient tools to access and interact with the OTC markets. Enlace's fast, clear and efficient dissemination of "live" prices contributes significantly to the improvement of its customers' trading, increasing liquidity and strengthening the markets with transparency and impartiality. Additional information is available at enlaceint.com.

Pershing LLC is a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organizations and independent registered investment advisors who collectively represent over five million active investors. Financial organizations, investment professionals and independent registered investment advisors depend on Pershing's depth of experience and consultative approach to provide them with forward-thinking solutions that help them to grow their businesses. Located in 19 offices worldwide, Pershing is committed to service excellence and to providing dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions and practice management support. Pershing (member FINRA/NYSE/SIPC) is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, the Irish Stock Exchange and the London Stock Exchange. Pershing LLC is a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at pershing.com.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt. Additional information is available at bnymellon.com.