HONG KONG, LONDON & NEW YORK, July 21, 2009 — BNY Mellon Asset Management, the global asset management arm of The Bank of New York Mellon, has announced that a selection of its boutique asset managers has been appointed to sub-manage a range of international investment funds on behalf of Woori Asset Management, the asset management subsidiary of Woori Financial Group. Woori Financial Group is one of the largest financial groups in South Korea. Woori Asset Management is the seventh largest asset manager in South Korea with approximately KRW15 trillion (US$10.1 billion) of assets under management.

The US$388 million mandate, comprising ten regional and sector equity mandates, will be split amongst BNY Mellon Asset Management's investment boutiques, including: Blackfriars Asset Management, Mellon Capital Management (Mellon Capital) and WestLB Mellon Asset Management (WMAM).

The boutique asset managers offer a wealth of investment experience. Headquartered in London with US$2.3bn in assets under management, Blackfriars focuses on global and regional emerging markets equity, debt, and global fixed income. San Francisco-based Mellon Capital is one of BNY Mellon's specialist asset managers focused on fundamentally-based global quantitative strategies and has a tradition of investment management innovation spanning over 30 years. WMAM is a 50:50 joint venture between WestLB and The Bank of New York Mellon. Located in Dusseldorf, Germany, WMAM offers clients both core and specialist products. A Japanese equity element of the mandate will be managed by a separate investment group within BNY Mellon Asset Management.

"A long history of strong client service, competitive performance and innovative products, continues to position all of our asset management boutiques well against our competitors," said David Jiang, CEO of BNY Mellon Asset Management Asia Pacific. "Korea is a key market for BNY Mellon and our business is growing significantly in the region. This appointment reflects our strength in depth and ability to match client needs with investment solutions."

Commenting on the outlook for the Korean economy, Yoohee Won, Chief Representative of BNY Mellon Asset Management's Korea office, added: "Korea has not been immune to the global financial turmoil sweeping the world. However, even with the negative forecasts for the economy, we believe any material weaknesses in the stock market are likely to offer strong opportunities in the long term. There is some disagreement on the timing of the recovery, but when the global economic situation improves, we believe the Korean market is in a good position to be one of the first to recover."

BNY Mellon Asset Management announced the opening of a Representative Office in Seoul in December 2006.

BNY Mellon Asset Management is the umbrella organisation for The Bank of New York Mellon Corporation's affiliated investment management firms and global distribution 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.

All information source BNY Mellon Asset Management as at 31/03/09. This press release is qualified for issuance in the UK and US and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorised. This press release is issued by BNY Mellon Asset Management (US) and BNY Mellon Asset Management International Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. WestLB Mellon Asset Management is not currently registered in the U.S. to publicly offer services. Past performance is not a guide to future performance. Registered office of BNY Mellon Asset Management International: The Bank of New York Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority