In Boston, $1.25 million to be awarded over five years to local nonprofits helping youth transition out of foster care

BOSTON, November 5, 2010 — BNY Mellon, the global leader in asset management and securities servicing, announced that it is launching a $6 million global workforce development initiative over five years to assist vulnerable youth making the transition into adulthood. With this investment, BNY Mellon will collaborate with leading public and non-profit agencies in the U.S., United Kingdom and Asia to enhance education, job training and career development opportunities.

It's estimated that each year more than 25,000 young people in the U.S. move out of foster care when they reach 18, including more than 700 in Massachusetts. In New England, BNY Mellon will provide $250,000 in the first year to three Boston-area nonprofits to extend or add to programs for youth transitioning from foster care into adulthood. Research shows these individuals are at greater risk for unemployment, poverty and homelessness.

"This focused initiative is designed to help young people successfully move from foster care into life-long independence," said Joanne Jaxtimer, BNY Mellon's managing director of Corporate Affairs in Boston. "This is a population that can easily slip between the cracks of existing safety net programs. Our goal is to help them stay connected to the people and services that will help them build life-long skills while remaining in a stable, healthy environment."

Selected for their strong track record of providing targeted support to youth in or emerging from foster care, BNY Mellon's partners in greater Boston include:

• More than Words – provides hands-on employment training, including work managing a bookstore, plus positive youth development
• Rediscovery, Inc. – offers a continuum of services to local youth, providing connections with outreach workers and education coordinators
• Youth Villages – helps emotionally and behaviorally troubled children and their families through a wide array of evidence-based programs, including in-home services and transitional living services

The new initiative is part of BNY Mellon's five-year "Powering Potential" program, the company's philanthropic focus on helping people in need by concentrating on basic needs and workforce development. To learn more about BNY Mellon's commitment to corporate social responsibility, visit www.bnymellon.com/csr.

BNY Mellon has about 4,000 employees in greater Boston.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 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 $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Learn more at www.bnymellon.com.