SEOUL, South Korea, July 20, 2009 — BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected as global custodian by Korea Life Insurance (KLI). BNY Mellon will provide a range of administration services to create a single-source global custody solution to KLI.

Established in 1946 as South Korea's first life insurance company, KLI is today the second largest insurance seller in Korea. Last year, KLI earned a 'AAA' credit rating - the highest in the country - and tied for second place on the National Consumer Satisfaction Index (NCSI).

Mr. Kyung-Ro Lee, Executive Vice President at Korea Life Insurance, said: "After an extensive due diligence process, we chose BNY Mellon because of its financial stability, strong technology reinvestment programme and its proven record in respect of service standards, client focus and relationship management."

"It is important that institutions have a strong custodian that they can trust and help them navigate these turbulent market conditions," said Chong Jin Leow, head of Asia Pacific, BNY Mellon Asset Servicing. "As a well-capitalised and visibly committed large player, with a long history of client service excellence, we are ideally placed to be the trusted partner Korean financial institutions need."

The Bank of New York Mellon has had a presence in South Korea for over 20 years. The company provides a wide variety of products and services to Korean institutional investors including securities servicing, trade finance, foreign exchange and other treasury services. The company opened an asset management representative office in 2008.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialised asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing offers its products and services through The Bank of New York Mellon and other subsidiaries of The Bank of New York Mellon Corporation.

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.