BNY Mellon Investment Manager and RCG Ventures Purchase 99-Percent Occupied Center with High-Profile Retailers

PLYMOUTH MEETING, PA, June 28, 2010 — An investment fund managed by URDANG, the real estate investment manager and part of BNY Mellon Asset Management, and its joint venture partner RCG Ventures, LLC, have acquired Louetta Central Shopping Center, a 180,000-square-foot shopping center in Houston, TX, with high-profile retailers from two Texas-based developers. Terms of the transaction were not disclosed.

Louetta Central is a 99 percent-occupied center anchored by Kohl's, Ross Dress for Less, and Michael's. The center also includes a Walmart Super Center that was not part of the transaction. URDANG made its share of the acquisition through Urdang Value-Added Fund II, L.P., a private real estate fund managed by Urdang Capital Management Inc. The joint venture partners will focus on tenant retention to maintain occupancy.

"Due to market conditions and our willingness to assume the existing loans, we were able to acquire one of the strongest retail centers in north Houston at a compelling price," said David Rabin, managing director, Urdang Capital Management.

"We were attracted to this center due to the combination of location, access, visibility, and quality of tenancy," said Mike McMillen, principal of RCG Ventures. "Louetta is located in the center of northern Houston's economic drivers, and we believe the asset is well positioned to capitalize on northern Houston's future employment and population growth."

RCG Ventures, LLC (RCG) is an Atlanta based, privately funded real estate investment group that acquires multi-tenanted, anchored shopping centers in the eastern portion of the United States. RCG's portfolio currently consists of 49 properties in excess of 4 million square feet. In the next twelve months, RCG plans to acquire $75 million of well-located value added assets.

Founded in 1987 with an exclusive focus on institutional investment grade real estate, URDANG offers a variety of strategies and products, managing approximately $1.7 billion in public real estate securities through Urdang Securities Management, Inc. and approximately $1.6 billion in debt and private equity real estate investments through Urdang Capital Management, Inc. for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors. URDANG's research-driven process combines top down economic analysis and market/country selection with bottom up underwriting of properties, companies and management teams to seek high, risk-adjusted returns. It is one of the investment boutiques of BNY Mellon Asset Management.

BNY Mellon Asset Management is the umbrella organization for BNY Mellon's affiliated investment management firms and global distribution companies.

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.