JERSEY CITY, N.J., May 6, 2009 — Pershing Advisor Solutions LLC, a subsidiary of The Bank of New York Mellon Corporation , announced today that its independent registered investment advisor (RIA) customers now have access to a broader array of fixed income investment choices to help them achieve their clients' long-term financial goals. These enhanced capabilities are being offered to RIAs through BondWave Advisors' Program Portfolios™ solution. BondWave Advisors is a division of BondWave LLC, a leading provider of solutions to the fixed income markets.

BondWave Advisors' Program Portfolios solution enables Pershing's RIA customers to create and manage individual fixed income accounts for their clients using a model-based investment strategy. RIAs have the ability to white-label the offering and maintain control of their clients' assets while continuing to direct the entire investment process. These activities include strategy selection, portfolio monitoring services, customized electronic messaging and reporting. Program Portfolios provides Pershing Advisor Solutions' RIA customers with the underlying investment methodologies and technical platform to support this unique fixed income investment approach.

Mark Tibergien, chief executive officer of Pershing Advisor Solutions, said, "We continuously explore opportunities to provide our customers with innovative capabilities and business solutions to help them enhance their efficiency, productivity and the quality of service they deliver to their clients. The introduction of Program Portfolios underscores our continued commitment to provide RIAs with a broad array of robust global trading solutions that will help them grow their businesses."

Russ Graham, chief executive officer of BondWave LLC, added, "Program Portfolios provides RIAs with a turnkey portfolio management solution that helps ease the complexities of managing their clients' fixed income investment portfolios. We are pleased to have the opportunity to work closely with Pershing and are confident that the suite of capabilities and resources offered through Program Portfolios will enable Pershing's RIA customers to better manage their clients' fixed income holdings in a more efficient and effective manner."

Pershing Advisor Solutions LLC (member FINRA/SIPC) is an affiliate of Pershing LLC and a leading provider of financial business solutions to independent, fee-based registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers. Pershing LLC (member FINRA/NYSE/SIPC), a subsidiary of The Bank of New York Mellon Corporation, is committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Through an innovative custody platform, Pershing Advisor Solutions delivers superior expertise and scalable and customizable solutions to help its customers manage and grow their fee-based businesses. Additional information is available at www.pershingadvisorsolutions.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 $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.