Addition Enhances US Market Presence of BNY Mellon Asset Management Boutique

LONDON and NEW YORK, July 31, 2009 — Alcentra*, a specialist asset manager focused on the sub-investment grade debt markets and part of BNY Mellon Asset Management, has announced that Alcentra NY, LLC, has entered into a definitive agreement to take on the Collateralized Loan Obligation (CLO) business of Rabobank Nederland, New York branch. The business consists of four cash flow CLOs and two Synthetic CDOs, issued under the Prospero, Veritas and Archstone names.

The transaction, which closed on 30 July 2009, will add approximately $1.53bn to Alcentra's AUM, taking its global total to more than $18bn across 41 separate funds. Following the transaction, Ron Grobeck (Portfolio Manager) and two analysts will transfer from Rabobank to Alcentra's New York team and report to Paul Hatfield, CIO and Head of US Operations for Alcentra.

Commenting on the transaction, Paul Hatfield said: "With our large and stable platform we are ideally positioned to take advantage of opportunities arising from the dislocation among smaller loan managers. The Rabobank funds are an excellent addition to Alcentra's US business and will enhance our market presence. This transaction firmly positions Alcentra as a leading consolidator in the US CLO market, as well as strengthening our front office team."

David Forbes-Nixon, Chairman and CEO of Alcentra, added: "Alcentra is the leading institutional loan investor in Europe and this transaction increases our US assets under management to over $5bn. We are now one of the top CLO managers globally, with 32 CLOs under management, and we will continue to expand the platform in Europe and the US, organically and through acquisition, as well as diversifying our product offering across other sub-investment grade instruments such as mezzanine, high yield and distressed debt where we see significant opportunities."

Separately, Alcentra will also be taking on the management of three of the BNY Mellon Capital Markets CLO funds, One Wall Street 1 & 2, plus the US Bank Loan Fund, subject to investor consents.

Alcentra's asset management and investment activities are focused on the sub-investment grade debt markets, with offices in London and New York. The group has 53 professionals and over $18 billion assets under management globally across 41 investment funds. Alcentra is 91% owned by The Bank of New York Mellon Corporation with 9% owned by Alcentra's management team and employees. Additional information is available at alcentra.com.

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 $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.8 trillion per day. Additional information is available at www.bnymellon.com.

*'Alcentra' refers to the following affiliated companies: Alcentra Limited and Alcentra NY, LLC. Assets under management include assets managed by both companies. Only Alcentra NY, LLC, offers services in the US. All information source BNY Mellon Asset Management as at 30/06/09. 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. 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