JERSEY CITY, N.J., September 6, 2007 — Pershing LLC, a subsidiary of The Bank of New York Mellon, announced today that Mark Tibergien has joined Pershing Advisor Solutions LLC as chief executive officer and a member of Pershing LLC's Executive Committee. Mr. Tibergien will report to Richard Brueckner and Brian Shea, Pershing LLC's chairman and chief executive officer and president and chief operating officer respectively.

The addition of Mr. Tibergien will further strengthen Pershing Advisor Solutions' management team and will enhance its ability to deliver market- leading solutions to the rapidly growing registered investment advisor (RIA) marketplace. Mr. Tibergien is a nationally recognized expert and consultant on management issues within the financial services industry. Prior to joining Pershing, he was a principal at the accounting and consulting firm, Moss Adams LLP, where he was partner-in-charge of the Business Consulting Group, chairman of the Financial Services Industry Group and partner-in-charge of the Business Valuation Group. Mr. Tibergien has been working with public and private companies on matters related to business management, transition planning and strategy formulation since 1973. He is the co-author of Practice Made Perfect and How to Value, Buy, or Sell a Financial Advisory Practice, both published by Bloomberg Press.

Mr. Tibergien has worked closely with hundreds of independent RIAs, broker-dealers, investment managers, insurance companies, and other financial services organizations in the United States, Australia and Canada. For the past eight years, Accounting Today has recognized Mr. Tibergien among the "100 Most Influential" in the accounting profession. In 2003, Financial Planning magazine recognized him as a "Mover & Shaker" in their annual review of industry professionals, and for the fifth time in 2007, Investment Advisor magazine recognized him among the "25 Most Influential" in the financial services industry.

Richard F. Brueckner, chairman and chief executive officer of Pershing LLC, said, "Mark is a renowned expert in his field, and his knowledge and broad range of experience will help us to take further advantage of the significant opportunities in the RIA marketplace. His expertise will guide us as we continue to deliver innovative products, services, practice management support and technology solutions to meet the complex needs of this important market segment."

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 http://www.pershing.com/.

Pershing Advisor Solutions LLC (member FINRA/SIPC) is an affiliate of Pershing LLC leading provider of financial business solutions to independent, fee-based registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers. Through an innovative custody platform, Pershing Advisor Solutions delivers superior expertise and scalable and customizable solutions to help its customers manage and grow their fee-based businesses. Additional information is available at http://www.pershingadvisorsolutions.com/.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and move their financial assets, operating in 37 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 and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration and more than $1 trillion in assets under management. Additional information is available at http://www.bnymellon.com/.