NEW YORK, April 16, 2008 — The Bank of New York Mellon (NYSE: BK), a global leader in asset management and securities servicing, has been selected by Phynova Group plc ("Phynova") as the depositary bank for its American depositary receipt ("ADR") program. Each Phynova ADR represents ten ordinary shares. The ADRs trade on the over-the-counter (OTC) market under the symbol "PHNVY," and the ordinary shares are listed on the London Stock Exchange under the symbol "PYN."

Phynova Group is a UK company developing prescription pharmaceuticals derived from plants used in Chinese medicines. Phynova is focused on viral and metabolic diseases and cancer. Phynova's lead product for hepatitis C has now completed a Phase I/II trial in the U.S. For further information please visit http://www.phynova.com/.

"We look forward to working with The Bank of New York Mellon to develop our ADR program," said Robert Miller, chief executive officer of Phynova. "We selected the bank because of its unique focus on the depositary receipt market and we expect our program to benefit from its specialization and experience."

"We welcome Phynova as the first AIM-listed company to simultaneously establish an OTC program and apply to the OTCQX market," said Christopher Sturdy, executive vice president and head of The Bank of New York Mellon's Depositary Receipt Division. "As the depositary for 71% of all sponsored DR programs from the UK, we have extensive experience with UK issuers and will support Phynova with personalized investor outreach initiatives to help broaden its shareholder base."

The Bank of New York Mellon's Depositary Receipt business is conducted through The Bank of New York subsidiary, which acts as depositary for more than 1,300 American and global depositary receipt programs, acting in partnership with leading companies from 63 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at http://www.adrbny.com/.

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.