Winner Determined in Survey of More than 1,000 Pension Funds Worldwide

SAN FRANCISCO, March 4, 2008 — Mellon Transition Management Services (MTMS), the transition management specialist for BNY Mellon Asset Management, has been named 2008 Transition Manager of the Year by Global Pensions magazine. The magazine determined its winner by surveying more than 1,000 pension funds worldwide.

"The transition management industry increasingly is appreciating the way we do business, including our emphasis on transparency, our commitment to the fiduciary model, and our dedication to conducting efficient transitions," said Mark Keleher, chief executive officer of MTMS. "Our aim is to reduce both the explicit costs, such as fees, as well as the implicit costs tied to the way the transition is conducted."

Keleher added that the Global Pensions honor followed a recent tribute from PlanSponsor magazine, which named MTMS best in class in 48 categories. MTMS also has been named best transition manager overall by Global Investor for the last three years.

"We are pleased with the continuing growth of our business as volume in 2007 increased significantly in Europe and the United States," Keleher said. "We see expanding opportunities in Asia and recently opened an office in Sydney, Australia."

BNY Mellon Asset Management is one of the world's largest global asset managers with more than US$1 trillion in assets under management. The multi- boutique asset management model encompasses the investment skills of world class specialist asset managers who are amongst the most advanced and highly regarded names in money management. With investment expertise that spans the asset class spectrum, BNY Mellon Asset Management offers a comprehensive suite of beta-achieving and alpha-generating investment strategies to meet the unique needs of institutional investors.

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 $23 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.