NEW YORK, April 13, 2009 — The Bank of New York Mellon has been appointed trustee, paying agent, transfer agent and custodian for Mystic Re II Ltd.'s $225 million catastrophe bond issue. The three-year risk period bonds, issued by Cayman Islands-based special purpose vehicle Mystic Re II Ltd., covers Liberty Mutual Insurance Company and its affiliates for certain potential losses caused by earthquakes and hurricanes in the United States.

In its role, The Bank of New York Mellon will provide a variety of services for the debt issue, including processing principal and interest payments, acting as custodian for deposited assets and maintaining noteholder records. The Bank is the leading corporate trust provider in the catastrophe bond market with an 82% market share at the end of 2008.

Mystic Re II Ltd.'s bond issue addresses investor desire for transparency and safety around the management of the collateral associated with the deal. In particular, The Bank of New York Mellon will safekeep any cash collateral posted as security for performance under the transaction's total return swap.

"This transaction by Mystic Re II Ltd. highlights the innovative and transparent actions being taken by issuers in the catastrophe bond market to address investor concerns," said Elizabeth DaSilva, managing director and head of the Global Americas region for the Global Corporate Trust business. "With the cat-bond market expected to rebound in 2009, we will continue to work closely with underwriters and insurance clients to service the emerging deal structures that are satisfying market demand."

The Bank of New York Mellon's corporate trust business services more than $11 trillion in outstanding debt from 57 locations around the world. It services all major debt categories, including corporate and municipal debt, mortgage-backed and asset-backed securities, derivative securities and international debt offerings. The bank does not compete with investment banks and deal arrangers, which allows it to provide issuers, investors, borrowers and lenders with an independent and objective service for their transactions.

Corporate trust providers are appointed by corporations, municipal governments and other entities issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.

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 $20.2 trillion in assets under custody and administration, $928 billion in assets under management, and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.