LONDON, May 21, 2008 — Pershing Limited, an affiliate of Pershing LLC and a subsidiary of The Bank of New York Mellon Corporation, announced today that it has been selected by Zurich Financial Services Group to provide mutual fund processing services through its Nexus Funds solution.

Through Nexus Funds, clients of Sterling ISA Managers Limited, part of Zurich Financial Services Group, will benefit from access to a wider range of funds than previously available. Nexus Funds is a straight-through processing, no-transaction fee mutual fund solution that is fully integrated with the Pershing Nexus® platform. Deals benefit from guaranteed contractual settlement and consolidated trailer fee payments, ensuring predictable settlement dates and streamlining clients' administration and payment processes.

Pershing's Nexus platform provides private client wealth managers, life companies, building societies and independent financial advisors (IFAs) with a single access point to buy and sell a variety of global funds and all major financial instruments including equities, fixed income and foreign exchange.

Peter Christmas, chief relationship officer at Pershing Limited, said, "We are delighted that Zurich has chosen our Nexus Funds solution for their mutual funds processing needs. This is a very important step toward our objective to become a major service provider to this part of the market. Equally, Pershing's whole of market, multi-asset class platform, coupled with our independence from competing life companies, is especially attractive for firms looking to enhance their proposition to their IFA clients with new servicing initiatives and greater fund choice and flexibility."

Paul Wright, investment management director at Zurich UK Life, said, "We are pleased to be working closely with Pershing. This latest development allows us to offer Sterling customers access to a wider range of funds through our award winning Sterling proposition."

Pershing Limited provides broker-dealers, asset managers, intermediary firms and financial institutions across Europe with a comprehensive range of products, services and solutions including retail clearing, fully disclosed institutional global clearing, broker services and execution services. Established in London in 1987, Pershing Limited and its subsidiary, Pershing Securities Limited, are members of the London Stock Exchange and Euroclear UK & Ireland. Pershing Limited has direct memberships with LCH.Clearnet and SWX Europe. Pershing Securities Limited is a member of Deutsche Borse, Eurex Clearing and Clearstream. Pershing Limited is an affiliate of Pershing LLC, a leading global provider of financial business solutions to more than 1,150 institutional and retail financial organisations and independent investment advisers who collectively represent over five million active investors. Pershing LLC (member FINRA/NYSE/SIPC) is a member of every major U.S. securities exchange, and a subsidiary of The Bank of New York Mellon Corporation. Additional information is available at http://www.pershing.co.uk/.

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.