SHANGHAI, May 11, 2010 — BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected by China Construction Bank ("CCB") as the global custodian for the upcoming QDII fund in China to be launched by ICBC Credit Suisse Asset Management Co Ltd ("ICBCCS"). The new Fund will be called the ICBCCS Global Selected Equity Fund.

ICBCCS is the first fund management company to have two QDII products on the market following the completion of the new fund's fundraising. The ICBCCS Global China Opportunity Equity Fund was the company's first QDII fund which launched in 2008.

"QDII's have had a difficult ride over the last couple of years, due in part to the reduction in investor confidence triggered by the global financial crisis," said Chong Jin Leow, head of Asia, BNY Mellon Asset Servicing. "However confidence is rapidly returning and with in US$4.2 billion worth of QDII quotas granted by the State Administration of Foreign Exchange in 2010 up to the end of March, it is clear that the door is wide open again after being closed for about 15 months."

"We are committed to working on behalf of our QDII clients in the months and years ahead to ensure they meet all regulatory requirements, increase the effectiveness of their operations and minimize exposure to risk," added Leow.

CCB is one of the largest providers of domestic custody in the Chinese market, from both QDII and QFII perspective, while ICBCCS is a joint venture initiated and held by Industrial and Commercial Bank of China Co, Ltd, Credit Suisse, and China Ocean Shipping (Group) Company – which hold stakes of 55%, 25% and 20% respectively.

BNY Mellon has had a presence in mainland China for over 15 years with a branch in Shanghai and two representative offices in Beijing. Shanghai is also BNY Mellon's only regional hub of Trade Finance in Asia. The company's regional Asia-Pacific headquarters is located in Hong Kong. BNY Mellon provides a wide variety of products and services to Chinese institutional investors including asset management, asset servicing, treasury services and depositary receipts.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon 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. BNY Mellon 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 $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Additional information is available at www.bnymellon.com.