Society for Human Resource Management Recognizes Lisa B. Peters or

NEW YORK and PITTSBURGH, September 29, 2008 — The Bank of New York Mellon (NYSE: BK) announced that Lisa B. Peters received the 2008 Human Capital Business Leader of the Year award from the Society for Human of Resource Management (SHRM) during SHRM's Strategic HR Conference in Palm Springs, Calif.

Peters is the company's chief human resources officer and a member of the executive committee, which oversees day-to-day operations for a global financial services company with $1 trillion in assets under management and $23 trillion in assets under custody and administration.

"We are very proud of this well-deserved recognition of Lisa's exceptional leadership and her contributions toward building a high-performance culture at The Bank of New York Mellon," said Bob Kelly, chairman and chief executive officer, The Bank of New York Mellon. "Under her direction, our company has instituted a comprehensive approach to global talent management that has been instrumental to attracting and developing the best and brightest and positioning our company for future growth."

One of the most prestigious honors in the HR profession, the SHRM Human Capital Leadership Awards recognize industry excellence and outstanding performance. Three awards honor exemplary HR departments and one award is presented to a senior human resource professional whose leadership directly impacts a company's performance and prominence. The honorees also will be featured in the November issue of HR Magazine.

A catalyst for organization-wide change, SHRM acknowledged Peters' key role in support of the July 2007 merger and successful integration of The Bank of New York and Mellon Financial, which created the global leader in asset management and securities servicing, with 43,100 employees in 34 countries.

"The Bank of New York Mellon is known for its exceptional client service. Our organization is truly people-powered," Peters said. "The Human Resources function at our company is focused on engaging our people, so that they are highly motivated, have the opportunity to contribute to their fullest ability and recognize the tremendous value we place on them. I'm fortunate to lead a great team who meet challenges head-on each day and know they are essential to our shared success."

Founded in 1948, SHRM represent 235,000-plus members in more than 135 countries. For information, visit http://www.shrm.org/.

About the Award: The SHRM Human Capital Business Leader of the Year Award honors a senior HR professional who develops and implements strategies with direct bottom-line impact and advances the strategic role of HR in the organization.

About the Society for Human Resource Management: The Society for Human Resource Management is the world's largest association devoted to human resource management. Representing more than 235,000 members in over 130 countries, the society serves the needs of HR professionals and advances the interests of the HR profession. Founded in 1948, SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China and India. Visit SHRM online at http://www.shrm.org/.

About the Bank of New York Mellon: The Bank of New York Mellon Corporation, a global financial services company focused on helping clients manage and service their financial assets, operates in 34 countries and serves 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.

About Lisa B. Peters: Lisa Peters is Chief Human Resources Officer for The Bank of New York Mellon. She is a member of the Company's Executive Committee, the organization's most senior management body, which oversees day-to-day operations.

Human Resources delivers products and services through its network of human resources professionals located in more than 10 countries to the Company's 43,100 employees worldwide. The department is responsible for delivering to managers and employees compensation and benefits; talent management, including talent acquisition and development; and employee relations, including work life and wellness programs. Human Resources also supports managers through strategic consulting, management of HR issues, products and service delivery, management of organizational performance and execution of HR processes. She held the same position at Mellon Financial Corporation prior to its July 2007 merger with The Bank of New York.

Peters joined Mellon in 1982, and advanced through a variety of management positions in several functional areas, including human resources, legal and corporate affairs, special banking services, and retail risk management and compliance. In 1999, she was appointed special assistant to the chairman, whom she directly supported on complex and diverse issues affecting the Corporation and its businesses. Her scope of activity included comprehensive business planning and analysis, assessment of the business environment and potential risks, evaluation of internal control processes and strategic issue identification.

Peters began her career as a consultant and account representative with Comshare, Inc. (now Extensity), where she consulted with Human Resource directors of Fortune 500 companies on the design of statistical models and database systems for salary administration, human resources planning, Equal Employment Opportunity and general administration.

A summa cum laude graduate of the State University of New York at Buffalo, she holds bachelor's degrees in business management and psychology. She is a member of The Conference Board's advisory council on human resources management, the Alpha Group of Human Resources Executives and the Executive Women's Group of Pittsburgh.