LONDON, March 12, 2008 — BNY Mellon Asset Servicing has outperformed its peer group of the world's largest global custodians in its inaugural appearance in the annual R&M Survey of custody clients and fund managers.

In addition to topping the 'Big Boys' chart*, BNY Mellon was ranked #1 in the Third Party Administrators/Outsourced Providers and USA Asset Owners categories. [*State Street, JP Morgan & Citigroup.]

Established in July 2007 following the merger of The Bank of New York Company Inc. and Mellon Financial Corporation, BNY Mellon Asset Servicing was one of only three providers to record an improved score* in R&M's 2008 survey of clients and fund managers. [*Compared to the average of The Bank of New York and Mellon's respective 2007 scores.]

  BNY Mellon secured a Top Three finish in the following categories:

  -- The Experts (respondents who surveyed five or more custodians)
  -- USA
  -- USA Asset Managers
  -- North America
  -- UK Asset Owners
  -- Asset Owners
  -- Rest of the World

  It also finished above its peers in the following categories:

  -- Asset Managers
  -- Asset Managers Indirect/Both
  -- Asset Managers Direct

  Sample BNY Mellon client comments included:

  -- The integration of BNY Mellon's platform and services has been nothing
     short of impressive"
  -- "Timeliness, accuracy and due care have all been maintained with the
     highest levels of service"
  -- "...a reflection of how smoothly the operation normally works"
  -- "Client service is particularly strong"
  -- "They are continually improving where there seems to be no room for
     improvement"

Richard Hogsflesh, Managing Director, R&M Surveys, said: "BNY Mellon has put in a critic-silencing performance, powering past its peers by quite some margin - there is a huge gulf in service levels between BNY Mellon and the organisation closest to it in size. This result silences critics of its merger and demonstrates the ability of BNY Mellon to adopt the best practices of each of its legacy operations. This result has set a new benchmark for the industry. The challenge now is not on BNY Mellon but on its peers to keep up."

The R&M Survey results follow BNY Mellon's strong showing in Global Custodian magazine's 2007 Global Custody Survey - published in January - in which The Bank of New York Mellon's worldwide custody providers (BNY Mellon Asset Servicing and CIBC Mellon Global Securities Services Company) received the highest number of 'Top-Rated' recognitions (nine) and 'Best in Class' awards (13o) out of all surveyed firms.

Jim Palermo, Co-CEO of BNY Mellon Asset Servicing, said: "I'd like to thank our clients for their continued support and for this latest vote of confidence in our merged organisation. Following on from our sterling Global Custodian results, our success in this prestigious survey underlines the strengths of our offering and shows that our focus on quality and service excellence over the past year has paid off handsomely. These R&M results are further testament to the dedication and creativity of everyone working across our Asset Servicing business.

"This time last year we had just announced our intention to merge, and were separate companies with high hopes and big plans and twelve months on our strategy has been well received by our clients, as these surveys illustrate. However, we have no intention of resting on our laurels in 2008. There is immense enthusiasm within this new organisation and we look forward to pursuing our goals with the same energy and commitment we demonstrated over the last 12 months."

The R&M Survey is based on feedback from investment managers, pension funds and other institutional global custody clients. The 2008 survey collected more than 881 responses worldwide and asked participants to rate global custody providers across a range of service categories. Scores in each of these categories were then combined to produce an overall ranking.

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 $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.