LONDON, 2 August 2007 — BNY Mellon Asset Servicing, the global leader in asset servicing, has been selected by National Pension Service of Korea, to provide global custody, securities lending and other services.

National Pension Service, currently the largest Asian public pension fund outside Japan, was established in 1988 under the National Pension Act and has KRW207 trillion (approximately US$224 billion) assets under management (June 2007). This is projected to grow to approximately KRW415 trillion (approximately US$449 billion) by 2012. National Pension Service will expand its investments in bonds and stocks overseas up to 20 percent of its total assets by 2012.

Tim Keaney, co-head of BNY Mellon Asset Servicing, said: "We have always been committed to being the preferred partner of National Pension Service, and helping them succeed with their global investments. We understand their desire to rapidly expand the number of markets and we will be able to help provide access to many of the world's fastest growing markets."

Keaney noted the enormous potential growth in pension schemes in Korea and their need to expand investments to global markets aggressively as Korean investors, from retail to institutional investors, have become ever-increasingly sophisticated.

The Bank of New York Mellon has been conducting business in Korea for nearly 20 years. The company has a full branch office in Korea, and works with a wide range of banks, government entities, and other financial institutions throughout the nation.

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.