BNY Mellon Investment Firm Utilizes Futures Contracts in Broad Range of Liquid Commodities

SAN FRANCISCO, March 7, 2011 — Mellon Capital Management, part of BNY Mellon Asset Management, has launched its Commodity Alpha Long-Bias Strategy, a commodities strategy designed to provide institutional investors with diversification beyond equities and fixed income and to provide a hedge against inflation.

The strategy is designed to add value by taking long and short positions in futures contracts for a range of liquid commodities including energy, precious metals, industrial metals, grains, livestock and other agricultural products. The strategy's managers seek positions in the commodities markets that appear attractive by evaluating various factors that can influence commodity futures prices.

"The commodities markets offer distinct investment opportunities as many of its participants are in these markets for reasons other than maximizing investment profits," said Eric Goodbar, managing director and alternatives strategist for Mellon Capital. "For example, producers, processors and consumers of commodities trade to lock in physical delivery or hedge their profit margins."

While maintaining a net long position, the strategy generally uses longer-dated futures contracts and takes long or short positions in contracts with positive roll returns with the goal of mitigating the costs associated with rolling futures.

Founded in 1983 by innovators in the investment management field, Mellon Capital Management Corporation applies a disciplined and analytical approach to global investment management strategies. As of December 31, 2010, the firm had $208 billion in assets under management, including assets managed by dual officers of Mellon Capital Management Corporation, The Bank of New York Mellon and The Dreyfus Corporation, and $9.2 billion in overlay strategies. Additional information about Mellon Capital is available at www.mcm.com. It is part of BNY Mellon Asset Management, one of the world's largest asset managers.

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

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 $25.0 trillion in assets under custody and administration and $1.17 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 (NYSE: BK). Additional information is available at www.bnymellon.com.

All information source BNY Mellon Asset Management at December 31, 2010. 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.

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