JERSEY CITY, N.J., February 27, 2008 — BNY Mellon Shareowner Services today announced the successful launch of a new service offering tailored to the needs of Special Purpose Acquisition Companies (SPACs). Publicly traded companies formed to raise capital to fund acquisitions or other similar business combinations, SPACs have grown considerably in recent years, both in terms of number of entities created and average deal size. BNY Mellon Shareowner Services introduced a turnkey service offering tailored to the needs of SPACs late last year, and the service is now being provided to an initial set of clients representing a combined $1.5 billion in capital.

"We took a careful look at the market segment early last year, and discovered that no one was offering to SPACs on a comprehensive basis all of the services they require," said Declan Denehan, Senior Vice President of BNY Mellon Shareowner Services Business Development. "Considering the range of securities services required -- transfer, warrant, escrow and trust account agent; cash management; proxy solicitation; and corporate actions processing -- it's hardly surprising that integrated service packages were not available. When you factor in asset management as a key part of the service delivery package, and the close degree of coordination between asset servicing and asset management that an integrated solution requires, the absence of a provider that can pull it all together is even easier to understand."

"Our new SPAC solution fills this void, providing clients with an ideal solution from both an expertise and coordination standpoint. It enables us to offer a comprehensive suite of services and resources -- all under one roof -- that respond to our clients' needs at every stage of a SPAC's life cycle, from inception to business combination and beyond," Denehan said."

"We've made a strategic commitment to expanding our business to include far more than traditional transfer agency services," said Gretchen Mohen, President of BNY Mellon Shareowner Services. "Operating as part of a global asset management and asset servicing leader enables us to add important new dimensions to innovative offerings like our SPAC service, all the while maintaining the reputation for control, compliance, audit and reliability that serves as the foundation for our business."

In addition to its top-ranked stock transfer services, BNY Mellon Shareowner Services offers a comprehensive suite of products and services ranging from record keeping and corporate actions to demutualizations, direct investment, dividend reinvestment, proxy solicitation and employee stock plan administration. BNY Mellon Shareowner Services is part of The Bank of New York Mellon's Issuer Services group, which is also a leading provider of corporate trust services and the market leader in servicing depositary receipts with more than 1,300 sponsored programs.

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.