LONDON, July 24, 2008 — Pershing Limited, an affiliate of Pershing LLC and a subsidiary of The Bank of New York Mellon Corporation, announced today that it has launched Nexus Loans, a collateralised lending service for advisors and wealth managers who serve high-net-worth investors. This new offering expands Pershing's suite of solutions for the private client and private wealth management market.

Nexus Loans enables advisors and wealth managers to provide their investors with the opportunity to borrow cash secured against their portfolios at competitive interest rates. The solution accepts a wide range of securities to be used as collateral and allows investors to maintain their investment holdings whilst accessing this source of multi-purpose funding. Nexus Loans also offers borrowers flexible loan amounts without a fixed repayment schedule. Pershing will provide operational and technology support for this solution, allowing advisors and wealth managers to focus on the investment needs of their clients.

Charles van der Merwe, chief executive officer of Pershing Limited, said, "Our Nexus Loans solution reinforces our commitment to provide advisors and wealth managers with the tools and capabilities they need to grow their businesses. This new offering is easy to arrange and administer, and provides investors with a powerful and flexible source of borrowing to use for business or personal expenses, investments or even to purchase other securities."

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 $11 trillion in outstanding debt. Additional information is available at http://www.bnymellon.com/.