BNY Mellon Working Capital Solutions Leverages Robust Account Management Platform to Power Growth of Retained Asset Offering

PITTSBURGH, April 8, 2008 — The Bank of New York Mellon's Treasury Services group today announced that a third mandate for the retained asset accounts service provided by BNY Mellon Working Capital Solutions has increased the total number of retained asset accounts being managed to more than 50,000.

Enabling insurance providers to retain the value of lump sum death payouts, annuities, and workers compensation through an innovative recordkeeping and servicing platform, BNY Mellon Working Capital Solutions' retained asset account offering has grown to more than 50,000 accounts since its introduction last spring.

"The key to our tremendous growth in the retained asset accounts management space has been our success leveraging the platform we use for managing other client accounts in the health savings accounts (HSA), corporate notes and asset management check clearing spaces," said Greg Cicero, senior vice president and head of BNY Mellon Working Capital Solutions. "Across all of these markets, our emphasis in terms of platform development has been the same: using an efficient, robust architecture that allows our customers to create highly customized solutions for the accounts they rely on us to manage."

BNY Mellon Working Capital Solutions' platform is the only retained asset offering that provides support from a single entity for all major platform service components, including record keeping, call center, intelligent voice response, and bank transaction processing. Other important functionalities include customized client Websites with electronic funds transfer capabilities; self-service options; and e-statements. Back-office tools such as the creation of business objects databases and access for customers to user-friendly, on-line account holder and program information allow customers to better meet clients needs and perform data mining as part of their growth strategies.

BNY Mellon Working Capital Solutions is part of the Treasury Services group of The Bank of New York Mellon. Helping clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 currencies, the Treasury Services group delivers high-quality performance in global payments, trade services, cash management, capital markets, foreign exchange and derivatives.

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.