NEW YORK, October 24, 2008 — The Bank of New York Mellon, a global leader in alternative and hedge fund administration, announced that its Alternative Investment Services (AIS) business has been recognized for the services they provide to the US hedge fund industry at The Hedge Fund Journal's inaugural US Awards 2008.

Leading service providers to US funds were recognized across eight categories. Under fund administration, The Bank of New York Mellon was chosen for "Asset Growth and Thought Leadership Studies," in recognition of the firm's growth in alternative assets under administration, up by more than 77% over the past three years, as well as the global expansion of its fund administration team in Europe, Asia and the Americas.

The company's published research — in particular its thought leadership papers — Institutional Demand for Hedge Funds (Parts I and II) (produced with Casey, Quirk & Associates), Rethinking Performance in the Hedge Fund Industry (produced with Oxford Metrica) and Hedge Fund Valuation Standards; Evolution not Revolution (produced with Kinetic Partners) are all considered highly authoritative studies.

"Recognition like this is a testament to commitment we bring to the market, both in terms of informing the discussion on important trends and guiding our clients through current volatility," said Brian Ruane, executive vice president and head of financial institutions client management at The Bank of New York Mellon. "Our staff worldwide will continue to develop forums for thought leadership discussions and will work hard to maintain our place as an industry leader in the sure-to-be dynamic months and years ahead."

The Bank of New York Mellon is a leading hedge fund administrator with more than $200 billion in assets under administration and an extensive global presence, including locations in Bermuda, Cayman Islands, Hong Kong, Ireland, Luxembourg, Singapore and the United Kingdom, as well as US offices in California, Florida, Massachusetts, New Jersey, New York, Pennsylvania and Texas. In addition to hedge fund administration the company offers a wide range of accounting, cash management, collateral management, custody, corporate trust, asset management and wealth management services to the hedge fund industry.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 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, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, approximately $1.1 trillion in assets under management and services approximately $12 trillion in outstanding debt. Additional information is available at www.bnymellon.com.