Asset management leader looking to further expand footprint

SYDNEY, 19 February 2008 — BNY Mellon Asset Management has announced that its Australian distribution subsidiary, BNY Mellon Asset Management Australia Limited, now manages Australian and New Zealand sourced assets worth over A$25 billion. This important milestone has occurred less than five years after the company established its asset management operations in Australia.

BNY Mellon Asset Management Australia distributes the investment skills and products of BNY Mellon's specialist asset managers to Australian and New Zealand institutional and wholesale investors. Australian institutional investors continue to be the most significant driver of this exceptional rate of growth.

Speaking from Sydney, where he travelled to share this growth story with clients and employees, Ron O'Hanley, president and chief executive officer of BNY Mellon Asset Management, said: "Australia and the Asia Pacific region continue to be a strategic priority for BNY Mellon Asset Management. Our multi-boutique structure is unique — each investment manager retains its singular focus on clients' investment objectives and delivering the strategies to help achieve them. At BNY Mellon Asset Management, we are continually developing our product offering to suit sophisticated investors. Australia is one of the most advanced markets in the world and we are keen to further expand our business in the region."

James Gruver, managing director, BNY Mellon Asset Management Australia Limited, added: "It is with great pride that we announce this achievement. We hope to continue growth in Australia and New Zealand through our focus on institutional and wholesale investors while looking to the adviser market for even further expansion. Our dedication to client service and product excellence will help us continue our success."

BNY Mellon Asset Management's multi-boutique offering is also available to Australian retail investors through Advance Asset Management, another channel benefiting from strong growth. Several of BNY Mellon Asset Management's investment boutiques provide sub-advisory services for Australian and New Zealand investors including Mellon Capital Management, Newton Investment Management, The Boston Company Asset Management, Standish Asset Management and Pareto Investment Management.

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 $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt. Additional information is available at bnymellon.com.

All information and figures source BNY Mellon Asset Management unless otherwise stated as at 31 December 2007. This press release is issued by BNY Mellon Asset Management Australia Limited (ABN 56 102 482 815, AFS Licence No. 227865) to members of the financial press and media and the information contained herein should not be construed as investment advice.
BNY Mellon Asset Management Australia Limited Level 6, 7 Macquarie Place Sydney NSW 2000 www.bnymellonam.com.au.