JERSEY CITY, N.J., October 22, 2012 — Pershing LLC, a BNY Mellon company, today announced that its prime brokerage unit was named 'Best Prime Broker— Custodial Solution' for the third time in as many years at HFMWeek's US Hedge Fund Services Awards ceremony in New York.

The honor was awarded to Pershing following a vote by a panel of independent judges, which assessed entrants based on financial progress, growth and genuine innovation. A variety of factors led the panel to grant Pershing the award, including: excellent client service, consistency and ease of doing business. Pershing enhanced its offering this year with the launch of two innovative collateral management tools, PrimeConnect™ and PrimeConnect40™, which provide control and transparency to hedge fund and '40 Act fund customers with online, same-day collateral movement, which generates operational efficiencies and cost-savings.

"To be named Best Prime Broker—Custodial Solution three years in a row by HFMWeek is a great honor," said Gerry Tamburro, managing director of Pershing's prime brokerage unit. "We work every day to make our customers successful and we are extremely pleased to see that effort recognized with this award."

The HFMWeek award is the latest in a series of honors Pershing Prime Services has received this year. Pershing was named Best North American Prime Broker in the 2012 Hedgeweek Global Awards. The firm also received two top rated awards, five commendations and 41 "best in class" recognitions following the 2012 Prime Brokerage survey by Global Custodian.

Pershing LLC (member FINRA/NYSE/SIPC) is a leading global provider of financial business solutions to more than 1,500 institutional and retail financial organizations and independent registered investment RIAs who collectively represent approximately 5.5 million active investors. Located in 23 offices worldwide, Pershing and its affiliates are committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Pershing is a member of every major U.S. securities exchange and its international affiliates are members of the Deutsche Borse, Australian Stock Exchange, Irish Stock Exchange, London Stock Exchange and Toronto Stock Exchange. Pershing LLC is a BNY Mellon company. Additional information is available at www.pershing.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, offering superior investment management and investment services through a worldwide client-focused team. It has $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.