NEW YORK, May 11, 2009 — The Bank of New York Mellon has been appointed trustee, registrar and paying agent for Metropolitan Transportation Authority's (MTA) $750 million Build America Bond Issue. Build America Bonds provide state and local governmental entities with federal-subsidized funding at lower borrowing costs.

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 and maintaining bondholder records.

"This mandate for New York's MTA reflects a key element of our business strategy in which we continuously upgrade our service offerings to accommodate new classes of securities," said Troy Kilpatrick, managing director and head of the Corporate and Municipal Finance Group within the company's Global Corporate Trust business. "The success of Build America Bond issuances is helping our municipal clients finance the rebuilding of our country's infrastructure, and we're committed to outperformance in providing support for these vital initiatives."

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