NEW YORK, June 2, 2008 — The Bank of New York Mellon, the global leader in asset management and securities servicing, has appointed Scott F. Posner chief executive officer of its Global Corporate Trust business. He will succeed and report to Karen B. Peetz, who has been promoted to chief executive officer of Issuer, Treasury & Broker-Dealer Services, effective July 1, 2008.

Since joining The Bank of New York in 1997, Posner has held leadership positions within Global Corporate Trust and other securities servicing businesses. He currently oversees all sales and marketing efforts globally for Global Corporate Trust, and was previously responsible for developing and implementing business strategy across the division. He was also chief executive officer of Asset Solutions, a wholly-owned subsidiary of The Bank of New York Mellon that provides commercial loan servicing, and chief financial officer for the company's shareowner services business.

"Global Corporate Trust is one of the largest contributors to our Company's earnings and has excellent potential for long-term growth around the world," said Ms. Peetz. "Scott has played a key role in creating an industry-leading franchise recognized for delivering high-quality service to its diverse client base. His leadership abilities and knowledge of the debt markets will enable us to further expand the servicing capabilities we offer debt issuers globally and the opportunities for our employees to grow."

The Bank of New York Mellon's corporate trust business services $12 trillion in outstanding debt from 55 locations around the world. It services all major debt categories, including corporate and municipal debt, mortgage-backed and asset-backed securities, collateralized debt obligations, derivative securities and international debt offerings. The Bank of New York Mellon's corporate trust and agency services are delivered through The Bank of New York and The Bank of New York Trust Company, N.A.

Corporate trust providers are appointed by corporations, municipal governments and other entities issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.

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 and more than $1.1 trillion in assets under management. Additional information is available at bnymellon.com.