Mandate covers custody, trustee, fund accounting, fund administration and sub-advisory services

LONDON, August 16, 2007 — Spa ETF Europe, a specialist provider of Exchange Traded Funds (ETFs), today announced that it has selected BNY Mellon Asset Servicing, the global leader in asset servicing, to provide European custody and administration services.

Spa ETF Europe is set to provide global private and institutional investors access to enhanced ETFs based on MarketGrader indices from the autumn. In support of its operations, the company has signed BNY Mellon Asset Servicing to provide full sub-advisory services, including global custody, trustee, fund accounting and fund administration. In addition, Spa ETF has appointed BNY Mellon Asset Management, one of the world's leading asset managers, as sub-advisor for its new family of ETFs, to be launched in the UK in September.

Daniel Freedman, director, Spa ETF International, comments: "In preparation for the launch of our fundamentals-based Exchange Traded Funds, it was important to identify an investor services provider with an established track record and a truly global model. We are confident that BNY Mellon Asset Servicing presents the best strategic fit to help us achieve our long-term growth plans."

Nadine Chakar, executive vice president at BNY Mellon Asset Servicing, says: "Our appointment further cements the dominant role BNY Mellon Asset Servicing enjoys in the ETF marketplace. We are delighted to be partnering with Spa ETF Europe at this exciting stage in the company's development and look forward to working alongside the team as their business grows over the coming months."

Spa MarketGrader ETFs will track the performance of US stock indices created by the MarketGrader quant-based methodology which has proven to consistently outperform major US indices. Its fundamental indices are unique in terms of the comprehensive set of 24 fundamental filters, the equal weighting of all securities and its specific diversification rules, designed to avoid the pricing anomalies that arise out of traditional market-cap based indices. In addition, each MarketGrader index periodically adjusts its holdings to ensure an equal weighting for all stocks and that holdings are of optimal grade.

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 move their financial assets, operating in 37 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 and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration and more than $1 trillion in assets under management. Additional information is available at www.bnymellon.com.

About Spa ETF Europe
Spa ETF Europe, headquartered in London, is a subsidiary of Spa ETF International, an innovative, independent specialist provider of Exchange Traded Funds (ETFs). The company has been established to offer global private and institutional investors access to enhanced ETFs tracking MarketGrader US focused indices.

Spa's ETFs will track the performance of stock indices created by the research provider MarketGrader's quant-based methodology. It uses 24 quantitative filters within four main areas (growth, value, profitability and cash flow) to carry out a fundamental evaluation of more than 5,600 North American stocks. Each index periodically adjusts its holdings to ensure an equal weighting for all stocks and to ensure holdings are of optimal grade.

SPA ETF International is supported by London & Capital, an independent firm of investment advisors and fund managers, with services including investment expertise, research, quantitative analysis and regulatory authorisations. London & Capital has $3.0 billion assets under management. Additional information is available at www.spa-etf.com.