New ADRs result from SEC rule change expected to foster greatly expanded ADR market

NEW YORK, October 27, 2008 — The Bank of New York Mellon (NYSE: BK), the global leader in asset management and securities servicing, has established more than 200 new unsponsored American depositary receipt (ADR) programs for companies around the world. A change implemented on October 10 by the Securities and Exchange Commission (SEC) to Rule 12g3-2(b) under the Securities Exchange Act of 1934 has opened up the opportunity for a significant rise in the number of over-the-counter ADRs on the market.

The Bank of New York Mellon is proactively establishing ADR programs for select, eligible non-U.S. companies to make ADRs from diverse industry sectors and regions available to U.S. investors. Well known and widely held firms such as Michelin, BMW AG, El Al Airlines and Nippon Oil are just a few of the new ADRs that both U.S. retail and institutional investors will now be able to hold in their portfolio as dollar-denominated securities.

"Recognizing that U.S. investors continue to embrace global diversification, we are bringing much-desired DR supply to the U.S. market," said Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon's Depositary Receipt Division. "U.S. investors are increasingly generating demand for DRs as a simple, streamlined means for exposure to companies outside the U.S."

As a result of the rule change, certain non-U.S. companies are now automatically exempt from SEC reporting requirements, provided specified information is accessible on their websites. Submitting hard-copy exemption requests to the SEC is no longer required.

The Bank of New York Mellon acts as depositary for more than 1,300 sponsored American and global depositary receipt programs, acting in partnership with leading companies from 64 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at http://www.bnymellon.com/dr.

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 $22.4 trillion in assets under custody and administration, approximately $1.1 trillion in assets under management and services approximately $12 trillion in outstanding debt. Additional information is available at http://www.bnymellon.com.

This release is for informational purposes only. The Bank of New York Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.