Ankura Capital and Blackfriars Asset Management join BNY Mellon's unique multi-boutique model

BOSTON, LONDON and SYDNEY, Australia, February 9, 2009 — BNY Mellon Asset Management, the global asset management arm of The Bank of New York Mellon, has announced the launch of two investment boutiques, one focused on the management of domestic Australian equities, the other on emerging markets equities and global fixed income.

The launch of Ankura Capital Pty Limited and Blackfriars Asset Management Limited follows The Bank of New York Mellon's purchase of two investment subsidiaries from its joint venture with WestLB in December 2008.

Headquartered in Sydney, Australia, Ankura Capital manages approximately AUS$1 billion in Australian equities and has a primarily Australian client base. The firm follows a quantitative investment approach combined with a qualitative risk management overlay, adaptive to changing environments, and has significantly outperformed the S&P/ASX200 index over one, three and five years*. Research input is derived from direct market observations that are more pragmatic than theoretical. Ankura Capital will retain all investment staff as well as a management team that has been working together since 1995. Greg Vaughan will continue as managing director and chief investment officer.

Blackfriars Asset Management focuses on global and regional emerging markets equity, debt, and global fixed income, where its established team has delivered a top quartile ten year track record**. Headquartered in London, England, and with more than US$2.3bn in assets under management, Blackfriars Asset Management will continue to be led by Hugh Hunter, chief executive officer.

As wholly-owned investment managers within BNY Mellon Asset Management's unique multi-boutique structure, both firms will enjoy complete investment autonomy under the umbrella of one of the world's leading financial services companies. Additionally, the firms will have access to BNY Mellon Asset Management's extensive global distribution franchise.

Commenting on the launches, Ronald P. O'Hanley, president and chief executive officer of BNY Mellon Asset Management, said: "Despite the challenging economic environment our business is well positioned to weather the current market uncertainty. The launch of these two new boutiques recognises our ability to meet clients' needs as they look to alternative sources for alpha."

Jon Little, vice chairman of BNY Mellon Asset Management and responsible for the oversight of the firm's international investment management firms, added: "Accelerating the already significant growth of our asset management business in Australia and the Asia Pacific region as a whole is a key strategic priority for us. In addition, many emerging markets economies are in a position of relative strength compared to their Western counterparts. We see increased investment opportunities in this area, and in our dialogues with clients globally many of them are looking at these types of strategies to drive the growth of their investment portfolios."

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 US$20.2 trillion in assets under custody and administration, US$928 billion in assets under management and services more than US$11 trillion in outstanding debt. Additional information is available at bnymellon.com.

*Source Intech to 31/12/08. **Source Morningstar to 31/12/08. Ankura Capital Pty Limited and Blackfriars Asset Management Limited are not currently registered in the U.S. to publicly offer services. All information source BNY Mellon Asset Management International Limited as at 31 December 2008. 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. Authorised and regulated by the Financial Services Authority.
A Bank of New York Mellon Company