Two more local authorities appoint BNY Mellon manager

LONDON, 31 July 2007 — Newton Investment Management Limited, a UK asset management subsidiary of The Bank of New York Mellon Corporation, has been awarded two new global equity mandates making it one of the key managers for local authorities in the United Kingdom.

Cumbria County Council has appointed Newton to run a £149m portfolio in respect of its local government pension scheme and Suffolk County Council's pension fund has selected Newton to run a £178m portfolio. Both mandates will be managed on a segregated basis by members of the global team at Newton.

Newton has been managing global mandates for over a quarter of a century and applies a single portfolio approach to running global equity portfolios. Newton's global equity composite has outperformed in all of the 37 rolling 3-year periods since inception* and has an average three-year outperformance of 3.7 % p.a. since 31 March 1995.

Commenting on the wins, Helena Morrissey, Chief Executive Officer of Newton, said: "Local authority clients can rely on Newton to provide a high level of service along with a robust and proven approach to managing global equities. Our continued outperformance proves that this approach works, and we are delighted to be awarded these new mandates."

Newton Investment Management Limited is a London-based UK asset management subsidiary of The Bank of New York Mellon Corporation. With assets under management of more than £38 billion, the company provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. Newton has offices in London, Edinburgh, Leeds and Jersey. News and other information about Newton is available at www.newton.co.uk.

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.

*Inception of Newton Global Equity Composite 1 April 1995, performance vs MSCI World Index to 30 June 2007, rolling three-year periods to calendar quarter end dates. Source Newton.

All information and figures source Newton unless otherwise stated as at 30 June 2007. This press release is issued by Newton Investment Management 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: Mellon Financial Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1371973. Authorised and regulated by the Financial Services Authority.
A Bank of New York Mellon Company^SM