VIENNA, AUSTRIA, July 14, 2008 — BNY Mellon Asset Servicing, the global leader in securities servicing, has been appointed by Innovest Kapitalanlagegesellschaft AG ("Innovest") as global custodian for their full global fund range, including 76 different funds and sub-funds. Innovest's global portfolio contains assets exceeding US$4.4 billion, covering 58 different markets. In addition to global custody, BNY Mellon will be providing Innovest with an array of cash management and foreign exchange support services.

A subsidiary of Siemens Financial Services, Innovest is amongst Austria's largest Funds-of-Funds Managers for institutional investors, with over US$10 billion in assets under management.

The foundation for appointment of BNY Mellon was laid when Innovest's longstanding local depot bank, Allianz Investmentbank AG, converted global custody for all Austrian Allianz funds to BNY Mellon in June 2007. This move created a strong link in the two organisations' respective global and local processing capabilities, from which Innovest will now benefit through enhanced, integrated overall servicing capability.

"While we were certainly impressed by BNY Mellon's market knowledge and global business approach, the deciding factor for us revolved around their renowned, high-touch approach to servicing their clients and the efficiencies demonstrated through Allianz Investmentbank, with whom they have successfully partnered for the last year," said Dr. Johann Maurer from Innovest Kapitalanlage AG. "It was critical for us to ultimately identify a partner who understood the growing complexity of global institutional asset management and could deliver the full range of support that we require."

Timothy F. Keaney, co-CEO of BNY Mellon Asset Servicing, comments: "Innovest is a sophisticated investment manager with truly global servicing needs, and a prominent institution we are proud to add to our client base. The investment of our organisation in building cutting edge technology and world class client service has ultimately been targeted to supporting clients of Innovest's calibre. We look forward to servicing them in the future and facilitating their ongoing business growth."

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialised asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.

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.