First New Zealand client for asset management leader

SYDNEY, 17 January 2008 — BNY Mellon Asset Management has announced that its Australian distribution subsidiary, BNY Mellon Asset Management Australia Limited, has won its first institutional client in New Zealand. Auckland Regional Holdings has appointed the company to manage US$29m.

The mandate will invest in the Mellon Global Equity Fund, managed by BNY Mellon Asset Management's global equity specialist Newton Investment Management Limited. Newton combines a bottom-up stock selection process within a global thematic framework, utilising a series of constantly assessed investment themes to identify sectors and securities that evidence suggests offer superior returns potential.

Newton's success also relies on free-flowing communication among its investment professionals who work closely together in an open-plan environment in London, England. Newton's portfolios benefit from the best ideas of its entire 55-strong investment team.

James Gruver, managing director of BNY Mellon Asset Management Australia, said: "Clearly we are delighted to be able to announce another major milestone in the development of BNY Mellon's operation in Australia and New Zealand. We are thrilled that Auckland Regional Holdings has appointed Newton. Newton has nearly 30 years experience in managing portfolios on a truly global thematic basis and its global equity strategy has consistently outperformed its benchmark."

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 30 September 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