Michael Cole-Fontayn succeeds Sturdy as Head of Depositary Receipt business

HONG KONG, LONDON and NEW YORK, May 6, 2008 — The Bank of New York Mellon, the global leader in asset management and securities servicing, has appointed Chris Sturdy as chairman of the Asia-Pacific region. Michael Cole-Fontayn is to be Sturdy's successor as Head of The Bank of New York Mellon's Depositary Receipt (DR) business.

Sturdy has been the head of The Bank of New York Mellon's Depositary Receipt (DR) business since 2003. Under his leadership, the company's DR business has grown considerably year on year and significantly expanded its reach in Asia-Pacific.

In this new position based in Hong Kong, Sturdy will lead the development and implementation of the Company's business strategy for the Asia-Pacific region and will chair its Asia-Pacific Management Committee. He will report to Ronald P. O'Hanley, Vice Chairman of The Bank of New York Mellon and Executive Committee member responsible for oversight of the Asia Pacific region, and Torry Berntsen, Chief Client Management Officer.

Sturdy joined The Bank of New York Mellon in 1982 and spent more than a decade in key roles in London. For more than eight years, he has been developing valuable new business for the company in Asia-Pacific, cultivating extensive client relationships there and gaining valuable experience and insight within countries from Japan to China, India and Australia.

"Hosting the world's largest population and its fastest growing economies, Asia-Pacific continues to present us with one of the greatest growth potentials for our company," said Bob Kelly, chief executive officer of The Bank of New York Mellon. "Our clients in the region include some of the world's largest financial institutions, 15 central banks, as well as several key sovereign wealth funds. While substantial and growing rapidly, our potential is far greater. Given his Asia experience, Chris is without question the right leader to continue the acceleration of our business in this key region."

Cole-Fontayn joined The Bank of New York in 1984 and worked in various banking groups before joining the DR Division in 1992. In 1993, he moved to Hong Kong where he led the division's Asia-Pacific business for seven years. He returned to London in 2000 and ran the DR Division's Europe-Middle East-Africa (EMEA) business for three years before taking charge of business development in 2003. During his tenure, the DR business has won more than 60 percent of all new business opportunities and expanded deeply into emerging and frontier markets around the world. He will continue to be based in London and will report to Brian Rogan, chief executive officer of Issuer and Treasury Services for The Bank of New York Mellon.

"The DR Division remains one of our most dynamic and fastest growing businesses," said Rogan. "In Michael, it will be led by someone who has spent his entire career at our organisation and whose market knowledge and leadership abilities will mean continued results for our clients and growth for our employees. Reflecting the global nature of our rapidly expanding business, Michael will continue to be based in London — a major international business centre not just for the DR division, but for the whole of The Bank of New York Mellon worldwide.

"I also want to recognise Chris Sturdy's stellar contributions over the last five years — efforts that have made our DR business the industry leader it is today," concluded Rogan.

The Bank of New York Mellon has been conducting business in the Asia-Pacific region for over 50 years. The company has 16 offices in 12 countries in the region, including full-service branches in Shanghai, Tokyo, Hong Kong, Singapore, Seoul, and Taipei, and employs around 3,000 employees. Businesses represented in the Asia-Pacific Region include asset servicing, asset management, issuer services and treasury services.

The Bank of New York Mellon's Depositary Receipt business is conducted through The Bank of New York subsidiary, which acts as depositary for more than 1,300 American and global depositary receipt programs, acting in partnership with leading companies from 63 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.

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.