LONDON and BOSTON, October 13, 2008 — Eagle Investment Systems LLC, a leading provider of financial services technology and a subsidiary of The Bank of New York Mellon, announced today that Axial Investment Management has selected its performance measurement solution to assist its fund managers with their investment administration.

Axial Investment Management, Pearl Group's asset liability specialist, with $24 billion under management, chose Eagle's performance measurement solution to improve data quality, generate daily performance, and produce weekly and monthly management reports utilising daily calculated performance data.

Through Eagle's technology, Axial will be able to quickly and easily calculate returns in different formats to meet the requirements of various audiences. It will also have the flexibility to consolidate data from multiple sources to create different views of data across its business. This will enable Axial to present performance returns in one format for clients and other formats for portfolio and external managers. Eagle's technology will allow Axial to automate its internal processes for calculating returns, thus streamlining and improving the efficiency of a previously lengthy manual process.

"At Axial, we pride ourselves on our ability to offer market-leading analysis of assets and risk," said John Cusins, CEO of Axial. "We believe Eagle's technology will enable us to offer a frequency and flexibility of reporting that is unrivalled."

"Our integrated capabilities of data management and performance measurement deliver a single, dynamic solution providing managers with innovative technology to rapidly and accurately measure the performance of their portfolio," added John Legrand, managing director of Eagle's EMEA and Asia Pacific operations. "We are thrilled to be working with Pearl Group at this exciting stage in their company's history and look forward to assisting them in making further efficiencies to their performance measurement practices."

Axial Investment Management is an FSA regulated fund manager which was established in March 2006 by Pearl Group to manage all of the assets of the Pearl Group Life Companies.

Axial's primary focus:

• Building proprietary diagnostics for analysing different investment strategies from external managers
• Developing sophisticated asset liability models that allow more detailed management of complex life company liabilities and to enable poorly allocated capital to be released for better risk reward strategies
• Building a leading research and asset allocation team for investing in best of breed 3rd party managed investments chosen from traditional and absolute return strategies globally

Eagle Investment Systems LLC is a global provider of financial services technology, serving the world's leading financial institutions. Eagle's Web-based systems support the complex requirements of firms of any size including institutional investment managers, mutual funds, hedge funds, brokers, public funds, plan sponsors, and insurance companies. Eagle is committed to providing enterprise-wide, leading-edge technology and professional services for investment accounting, data management, performance measurement and information delivery. Eagle's product suite is offered as an installed application or can be hosted via Eagle ACCESS, Eagle's application service provider. To learn more about Eagle's solutions, contact sales@eagleinvsys.com or visit www.eagleinvsys.com.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized 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 service their financial assets, operating through its subsidiaries and affiliates 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 more than $23 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $12 trillion in outstanding debt. Additional information is available at www.bnymellon.com. (Information and figures in this paragraph source The Bank of New York Mellon as at 30 June 2008)