LONDON, November 14, 2007 — BNY Mellon Asset Servicing, the global leader in securities servicing, has been appointed by London Borough of Islington Pension Fund to provide global custody services for assets valued at 718 million pounds.

BNY Mellon Asset Servicing has acted as London Borough of Islington Pension Fund's global custodian since August 1998 and was reappointed in November 2004 following a full tender exercise by Islington. Islington has agreed to extend the agreement for a further two years to 30 November 2009, with further options of two one-year extensions.

"We are pleased to be extending our partnership with BNY Mellon Asset Servicing," said Andy Nutter, officer at The London Borough of Islington. "We have worked with The Bank of New York since 1998 and have been very impressed with the excellent service the team have delivered, particularly their IT platform, combined with excellent value for money and an enthusiastic, professional team. After a thorough review of the market, we decided that BNY Mellon Asset Servicing remains best-placed to meet the pension fund's service requirements."

Nadine Chakar, executive vice president at BNY Mellon Asset Servicing, said the London Borough of Islington mandate was one of many such contract renewals secured by the bank in the last few months, showing that client response to the merger between The Bank of New York and Mellon so far has been extremely welcoming and positive.

"We are delighted that yet another major UK local authority has selected us to continue to act as their custodian, and that our commitment to building true partnerships with our clients has again been validated. Our creative and flexible approach to delivering global custody and value added services, allied to our fully integrated technology platform, ensures our clients benefit from enhanced efficiency, transparency and service quality," Chakar added.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialised asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.

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.