LONDON, 1 August 2007 — ABN AMRO Mellon Global Securities Services B.V. has been appointed as global custodian for assets valued at EUR 1 billion by Bedrijfspensioenfonds voor de Koopvaardij (Merchant Navy Pension Fund).

The Merchant Navy Pension Fund, which serves the retirement needs of the Dutch shipping industry, expressed interest in moving its discretionary portfolio to ABN AMRO Mellon in November 2006.

ABN AMRO Mellon's appointment was confirmed earlier this year, and in the past week the final tranche of assets — valued at just over EUR 1 billion — was successfully transitioned from the Pension Fund's previous provider. The Pension Fund's remaining assets — valued at EUR 2.4 billion — are invested in real estate, mortgage and pooled funds with F&C, which had a role in originally introducing the Merchant Navy Pension Fund to the ABN AMRO Mellon team.

Hylke Hylkema, this year's chairman of the Pension Fund, said: "We are pleased with the broad range of service capabilities offered by ABN AMRO Mellon and its flexibility in developing a service model tailored to our requirements, as well as by the scope and scale of the new Bank of New York Mellon organisation."

Nadine Chakar, CEO of ABN AMRO Mellon, said: "I am delighted that the Merchant Navy Pension Fund has selected us as their custodian, and we will be working closely with them to ensure they are fully equipped to deal with ongoing regulatory and legislative developments in the Dutch market.

"As our 'home' market, the Netherlands is absolutely central to our plans going forward, and I am looking forward to being able to offer the Merchant Navy Pension Fund, along with all our other clients, an even more comprehensive selection of innovative products and solutions once ABN AMRO Mellon become a part of The Bank of New York Mellon Corporation later this year."

ABN AMRO Mellon
ABN AMRO Mellon Global Securities Services B.V. is a 50-50 joint venture between ABN AMRO Bank N.V. and Mellon Bank NA. It provides global custody and related services to institutions around the world outside North America. The company combines ABN AMRO's worldwide servicing presence with Mellon's advanced technology and product capabilities. Value-added products and services include compliance monitoring, investment accounting, performance measurement and analytics. News and other information about ABN AMRO Mellon Global Securities Services are available at www.abnamromellon.com