PITTSBURGH, July 9, 2007 — The funded status of a typical U.S. pension plan was largely unchanged in June, despite market weakness, according to BNY Mellon Asset Management, which tracks the financial health of U.S. pension plans through its BNY Mellon Pension Liability Indexes. For the year to date, the typical plan has improved its funded status by 7.4 percent.

"As a result of the soft equity markets, the assets of a moderate risk pension portfolio declined one percent in June," said Peter Austin, executive director of BNY Mellon Pension Services. "However, this was offset by a similar decline in typical pension liabilities, as long-maturity interest rates rose 11 basis points during the month. Higher interest rates reduce liabilities and the value of bonds."

For the first half of the year, assets of a typical moderate risk portfolio increased 5.0 percent while liabilities declined 2.4 percent, resulting in the 7.4 percent improvement in funding status.

Unexpected changes in a plan's demographics, among other factors, also affect the size of the benefit liability. The BNY Mellon Pension Liability Indexes, which were launched in March 2006, are designed to track the market values and returns of pension liabilities for young, average and mature pension plans. (See more about the indexes at http://www.melloninstitutional.com/public/knowledge/publications/
content/publications/liability_index.html.)

BNY Mellon Asset Management is a leading global provider of investment management products and services that offers a broad range of equity, fixed-income, hedge and liquidity management products through individual asset management companies and multiple distribution channels.

The Bank of New York Mellon Corporation (NYSE: BK) is a global financial services company focused on helping clients move and manage 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 and wealth management, asset servicing, issuer services, and treasury services through a worldwide client-focused team. It has more than $18 trillion in assets under custody and administration and $1 trillion in assets under management, and it services more than $11 trillion in outstanding debt. Additional information is available at www.bnymellon.com.