New ETFs Aimed at Growing Market for Active Management

NEW YORK, April 29, 2009 — BNY Mellon Asset Servicing, the global leader in securities servicing, announced today that it has been selected by AdvisorShares Trust to provide comprehensive exchange traded funds (ETF) services. BNY Mellon will supply custody, fund accounting, fund administration, basket calculation, and transfer agency services for AdvisorShares' multi-manager and single-manager strategies.

"We're pleased to be working with BNY Mellon, which excels in providing ETF services to our sophisticated family of active ETFs," said Noah Hamman, chief executive officer of AdvisorShares. "We are excited about the imminent launch of our first ETF and anticipate introducing additional products shortly. The AdvisorShares ETF structure delivers the combined benefits of active management found in mutual funds with the advantages of an ETF, including tax efficiencies and real-time pricing and transaction capability."

"Our reputation for service was a key reason for being chosen as a partner by AdvisorShares," said Joseph Keenan, managing director and head of relationship management for U.S. Asset Services at BNY Mellon Asset Servicing. "We are continuing to develop the technology required to support an expanding array of ETFs, particularly in the actively managed space."

AdvisorShares is an innovative investment management firm designed to offer actively managed ETFs. Exchange Traded Funds are one of the fastest growing investment products due to their operational and tax efficient structure, and ease of accessibility. AdvisorShares intends to offer a variety of investment products designed to help investors reach their financial goals. The company seeks out top investment management firms interested in sub-advisory and product development opportunities, as well as qualified emerging money managers. AdvisorShares Investments, LLC, is majority owned by Fund.com Inc., an online financial community which provides investment insight, analysis and portfolio planning tools. Additional Information about AdvisorShares Investments, LLC is available at www.AdvisorShares.com.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York Mellon and other related companies.

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 $19.5 trillion in assets under custody and administration, $881 billion in assets under management, services more than $11 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.