LONDON, 29 May, 2008 — Newton has further underscored the case for its distinctive single portfolio approach to multi-asset investing, citing the advantage of the perspective afforded by its process over fund of funds strategies.

According to the latest CAPS Pooled Pension Funds Survey from BNY Mellon Asset Servicing, over 12 months to 31 March 2008, the median balanced pooled pension fund fell by -3.3% net of fees, while Newton's flagship balanced product, the Newton Exempt Fund returned +5.5%, ranking it second in the survey*.

Iain Stewart, fund manager of the Newton Exempt Fund, said: "Both short and longer term results confirm that our highly distinctive approach to multi-asset investing remains valid for a broad range of pension assets, both in terms of performance, transparency, and investment management fees."

"During this decade we have seen pension funds shift away from awarding single-manager multi-asset mandates towards multi-specialist structures. At Newton we continue to believe that running a range of asset classes and geographies in a single portfolio can add significant value over time. Our process provides the fund manager with perspective and flexibility not always available to the fund of funds manager. In a constantly changing world these are powerful attributes, as our funds' performance through the credit crisis has demonstrated," Stewart added.

The breadth of performance over the 12 months to 31 March 2008 is testament to Newton's investment approach across many different mandate types. Net of fees, Global Equity funds run by Newton were ranked 2nd and 3rd out of 67 funds, and the Newton Overseas Equity Fund was ranked 2nd out of 26 funds*.

At the regional equity level, the consistency continued with Newton UK equity funds ranked 9th and 11th out of 104 funds, the Newton Continental European Fund ranked 2nd out of 43 funds and the Newton American Fund best in class out of 37 funds*.

"Our performance is underlined by our investment themes as they help us navigate through market dynamics. The continually evolving framework of themes that we use to focus our research effort helps us understand how the world is changing and thus highlights areas of opportunity and risk," concluded Stewart.

Newton Investment Management Limited is a London-based global asset management subsidiary of The Bank of New York Mellon Corporation and part of BNY Mellon Asset Management. 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. 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 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 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 bnymellon.com.

*BNY Mellon Asset Servicing CAPS Pooled Pension Funds Survey to 31 March 2008. All other information source BNY Mellon Asset Management International Limited as at 31 March 2008. This press release is issued by BNY Mellon Asset Management International Limited to members of the financial press and media and the information contained herein should not be construed as investment advice. Not available or offered to U.S. investors. Past performance is not a guide to future performance. Registered office: The Bank of New York Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority.
A Bank of New York Mellon Company^SM