Increasing move by Asian pension funds to look at international managers

NEW YORK, May 15, 2008 — Newton Investment Management Limited, part of BNY Mellon Asset Management, has been awarded a US$250 million global equity mandate by the Supervisory Board of Taiwan's Labor Pension Fund (New System).

The Taiwan Labor Pension Fund is a defined contribution state pension scheme set up in July 2007. The Fund's Supervisory Committee has since awarded a total of $1.5bn in international equity and bond mandates, for the first time this year awarding mandates to foreign asset managers.

Commenting on the appointment, Helena Morrissey, Chief Executive Officer of Newton said: "Our process and performance continues to position us well against competitors. We are delighted to be appointed to manage this mandate."

Newton has been managing global mandates for 30 years and applies a single portfolio approach to running global equity portfolios. The mandate will be managed by members of the global equity team at Newton*. Similar strategies are offered in the U.S. by Newton Capital Management Limited, an investment adviser registered with the U.S. Securities and Exchange Commission.

Despite market volatility, Newton's thematic investment approach has enabled the company to produce strong relative returns for investors during a turbulent 2007.

Newton Investment Management Limited is a London-based global asset management subsidiary of The Bank of New York Mellon Corporation and part of BNY Mellon Asset Management. With assets under management of more than 38 billion pounds Sterling, the company provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. News and other information about Newton is available at http://www.newton.co.uk/ .

*"The Newton Group" refers to the following group of affiliated companies, all of which are wholly-owned subsidiaries of The Bank of New York Mellon Corporation: Newton Investment Management Limited, Newton Capital Management Limited, Newton International Investment Management Limited, Newton Capital Management LLC and Newton Fund Managers (CI) Limited. Assets under management include assets managed by all of these companies except Newton Capital Management LLC, which provides marketing services in the U.S. Except for Newton Capital Management LLC and Newton Capital Management Limited, none of the other Newton companies offer services in the U.S. Newton Investment Management Limited and Newton Capital Management Limited are both authorized and regulated in the UK by the Financial Services Authority in the conduct of their UK investment business.

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 .

All information source BNY Mellon Asset Management International Limited as at 31 March 2008. This press release is issued by BNY Mellon Asset Management International Limited to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. Registered office: The Bank of New York Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority A Bank of New York Mellon Company(SM)

SOURCE: Newton Investment Management Limited

*Source Newton against IMA sectors to 31.12.07. Includes all UK regulated funds available to wholesale investors for which BNY Mellon Fund Managers Limited are the operator and Newton Investment Management Limited are the investment manager. Not available or offered to U.S. investors. All other information source BNY Mellon Asset Management International Limited as at 31 March 2008. This press release is issued by BNY Mellon Asset Management International Limited to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. Registered office: The Bank of New York Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority.
A Bank of New York Mellon Company^SM