JERSEY CITY, N.J., September 25, 2007 — Pershing LLC, a subsidiary of The Bank of New York Mellon, has launched Fixed Income Portfolio Solutions, a comprehensive suite of tools and sophisticated portfolio analytics. This new offering will enable Pershing's team of highly experienced fixed income specialists to help investment professionals and independent registered investment advisors (RIAs) provide their clients with proactive and actionable strategies, and will help them to better manage their clients' fixed income portfolios. Fixed Income Portfolio Solutions is powered by BondWave LLC, a leading provider of solutions to the fixed income markets.

Through Fixed Income Portfolio Solutions, Pershing's fixed income specialists utilize an array of scalable, automated tools to provide customers with client-specific fixed income support, customized model-based portfolio ideas, trade opportunity mining, graphical proposals and timely analysis. These new capabilities are available to introducing broker-dealer firms through Pershing LLC and to RIAs through Pershing's affiliate, Pershing Advisor Solutions LLC. Key features of Fixed Income Portfolio Solutions include:

   * The delivery of proactive alerts and alternatives for replacement bonds
     through Items for Attention (IFA) in NetExchange Pro® and NetExchange
     Advisor® when changes occur in a client's fixed income portfolio due
     to corporate actions, bond rating changes or bonds maturing;

   * Detailed reports and proposals which provide investment professionals
     and RIAs with a complete picture of their clients' fixed income
     portfolios, including itemized holdings, cash flow reports, shock
     analysis, fixed income allocation breakout, new cash proposals and
     repositioning proposals;

   * Extensive tax swap analytics, including alternative minimum tax (AMT),
     out-of-state municipal bonds and pre-refunded municipal bonds; and

   * The ability to construct or rebalance customized portfolios using
     proprietary models.

The introduction of Fixed Income Portfolio Solutions further enhances Pershing's ability to provide its customers and their clients with a wide range of robust trading services, which include equity and fixed income trading, international trading, flexible cutting-edge technology, operational support and best execution.

Craig Messinger, managing director of trading services at Pershing, said, "As a leading provider of an extensive range of trading services to the global capital markets, we are committed to developing and delivering best-of-breed products and solutions. The suite of capabilities and resources offered

through Fixed Income Portfolio Solutions will provide investment professionals and RIAs with innovative tools and analytics to help them manage their clients' fixed income holdings and portfolios more efficiently and effectively."

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. 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 and a 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. 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/.