New research in Britain: Investment Choice, Risk & Reward from 'the People's Perspective'

London, 8 March 2011 — Research undertaken by BNY Mellon Asset Management amongst British consumers provides a new insight into attitudes towards investment risk and reward from the 'people's perspective'. The research reveals that the level of comfort regarding pension and investment matters among the general public may be much lower than widely thought.

The report "Investment Choice, Risk & Reward from 'the People's Perspective'", found that nearly half (45%) of British consumers are unwilling to take any financial risk with investments. Looking at motivators for this attitude, the survey showed this is likely to be driven by lack of understanding with 45% not feeling they understand the risk involved in investments.

David Calfo, Head of Group DC Strategy at BNY Mellon, comments, "Our research reveals the sheer scale of the task ahead when it comes to helping the general public in the UK understand the importance of investing for the future. As the 2012 pension reforms approach bringing automatic enrolment of employees into workplace pension schemes, we will soon begin to bring a wider group of individuals into retirement investing. To prepare for this change, we believe that there is a clear need to reiterate the basics.

"It is vital that our industry works together to simplify communications to ensure that investors understand and be comfortable with the concept of investing. At the very least, investors need to be able to recognise the difference between saving and investing, and why this matters. A failure to get to grips with simple financial concepts will have significant ramifications for everyday life, both while working and in retirement."

Copies of the full report can be downloaded at www.bnymellonam.com/dcpensions

BNY Mellon Asset Management is the umbrella organisation for BNY Mellon's affiliated investment management firms and global distribution companies. Information about BNY Mellon Asset Management is available at www.bnymellonam.com.

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. Additional information is available atwww.bnymellon.com.

Survey Statistic Undertaken by YouGov in October 2010, amongst 2,151 individuals intended to be representative of the British (excluding Northern Ireland) adult population, 43% of the sample had either an employer or personal pension, 21% were retired and 37% had made no pension provision. Fieldwork was undertaken between 15th- 18th October 2010. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+). All other information source BNY Mellon Asset Management as at 31 December 2010. This press release is qualified for issuance in the UK 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 International Limited 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 Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority. A BNY Mellon Company(SM)