Ranked Second Globally as "Best Transition Manager Overall"

SAN FRANCISCO, May 1, 2008 — Mellon Transition Management (MTM), the transition management specialist for BNY Mellon Asset Management, has been named the top 2008 transition manager in the Americas by Global Investor magazine. The magazine determined its winner after more than 500 institutional investors rated their transition managers in 12 categories. MTM also placed second overall globally in the category of "Best Transition Manager Overall."

MTM finished in the top three in 11 out of the 12 categories in Global Investor's survey including project management, reporting capability, pre-trade and post-trade analysis, risk controls, access to liquidity, audit trail, accuracy of shortfall estimation, relationship management and overall services.

"Mellon Transition Management's commitment to transparency, the fiduciary model, and dedication to conducting efficient transitions has been driving the growth in our business," said Mark Keleher, chief executive officer of MTM. "The award reflects the growing respect that we are seeing for our business model."

The award from Global Investor followed last month's announcement that MTM was named 2008 Transition Manager of the Year by Global Pensions Magazine.

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 $12 trillion in outstanding debt. Additional information is available at bnymellon.com.