Addition of BNY Mezzanine and Hamilton Loan businesses will complement U.S. platform

LONDON and NEW YORK, July 9, 2008— Alcentra, a specialist asset manager focused on the sub-investment grade debt markets, has appointed Paul Hatfield to lead its business in the U.S.

Hatfield, a managing director with Alcentra's London team, is to relocate to New York in September and will be responsible for developing Alcentra's business in the leveraged loan market. Hatfield joined Alcentra in 2003 as a portfolio manager for Alcentra's European CLO funds.

He will be replaced by Graham Rainbow, who joins as executive director from Barclays Capital, where he spent 13 years most recently as a director in leveraged finance syndicate. Rainbow will act as portfolio manager, with David Forbes-Nixon remaining as senior portfolio manager for Alcentra's European CLO funds.

Alcentra is also increasing its U.S. product offering with the addition of two New York-based specialist managers to its group -- BNY Mezzanine Partners, a specialist US mezzanine loan manager, and Hamilton Loan Asset Management, a leveraged loan manager. Both businesses were divisions of BNY Mellon Capital Markets, LLC.

"Paul's experience within our market-leading European platform will help us to better serve our US clients. I am delighted to also welcome Graham who will help us continue our growth in Europe," said David Forbes-Nixon, chairman and chief executive officer of Alcentra. "The addition of BNY Mezzanine Partners and Hamilton Loan Asset Management significantly strengthens our position in the U.S. market, increasing the products and capabilities we can offer to clients."

BNY Mezzanine Partners comprises a team of eight professionals headed by Paul Echausse and manages a $210 million U.S. mezzanine fund. Hamilton Loan Asset Management comprises a team of nine professionals headed by Dean Stephan and manages $1.6 billion of leveraged loans across five investment vehicles.

Alcentra's asset management and investment activities are focused on the sub-investment grade debt markets, with offices in London, New York and Los Angeles. The group has 70 professionals and more than $19 billion assets under management globally across 38 investment funds. Alcentra is 80% owned by The Bank of New York Mellon with 20% owned by Alcentra's management team and employees. Additional information is available at alcentra.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 $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 unless otherwise stated. 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.
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