BNY Mellon Agrees to Acquire BHF Asset Servicing GmbH

Will become second largest asset servicing provider in Germany

FRANKFURT and NEW YORK, March 8, 2010 - BNY Mellon, the global leader in asset management and securities
servicing, has agreed to acquire BHF Asset Servicing GmbH from BHF-BANK
Aktiengesellschaft and Sal. Oppenheim jr. & Cie. S.C.A. for EUR253 million
(US$343 million), subject to regulatory approvals. This transaction will
include the purchase of BHF Asset Servicing's wholly-owned fund
administration affiliate, Frankfurter Service Kapitalanlage-Gesellschaft mbH
(FSKAG).

The transaction is expected to be immediately accretive to GAAP EPS,
providing an IRR of between 17% and 19%. It is scheduled to close in the
third quarter of 2010 and will be funded internally.

BHF Asset Servicing and FSKAG will become part of BNY Mellon's Asset
Servicing business. The new combined German business will have EUR473
billion* (US$642 billion) in assets under custody and administration and a
depotbanking volume of EUR120 billion (US$163 billion). BNY Mellon becomes
the #2 provider by assets held in this key European market, the world's
fourth largest economy. In addition, the acquisition expands BNY Mellon's
existing capabilities to encompass the provision of German domestic custody
and KAG fund administration.

Tim Keaney, Chairman of Europe at BNY Mellon and co-CEO of BNY Mellon
Asset Servicing, said: "This transaction expands our capabilities and market
share in one of the world's largest fund markets, positioning BNY Mellon at
the forefront among securities servicing providers in Germany and creating a
strong platform for growth across our businesses."

The new BNY Mellon Asset Servicing business in Germany will offer a full
range of tailored solutions for investment companies, financial institutions
and institutional investors. It will be headquartered in Frankfurt am Main
and have 340 staff. It will be headed by Michelle Grundmann from BNY Mellon,
and Juergen P. Frank and Christopher V. Friedrich from BHF Asset Servicing.
They will report to Nadine Chakar, Head of Europe, Middle East & Africa
(EMEA) at BNY Mellon Asset Servicing.

Juergen P. Frank, Spokesman of the Managing Board, BHF Asset Servicing,
said: "Becoming a part of the world's leading asset servicing provider, whose
scale, geographic reach and commitment to this business is second to none, is
an extremely exciting proposition. It will provide many new opportunities for
BHF Asset Servicing clients and staff."

Michelle Grundmann, Managing Director and Branch Head Frankfurt am Main,
BNY Mellon, continued: "We've had a successful relationship with BHF-BANK for
more than seven years and this transaction was the next logical step for our
growing business, one that further underlines our long-term commitment to the
German market. Continuity of personnel and service levels will remain our
number one priority. As the success of our own post-merger integration
demonstrates, BNY Mellon possesses the expertise and resources necessary to
ensure that we continue to offer clients the innovation and excellent service
they have come to expect."

BNY Mellon has been serving clients in Germany since 1931. The company
opened its first office in Frankfurt in 1972 and following this transaction
will have 560 people in Germany. In addition to asset servicing, depotbanking
and asset management, BNY Mellon is active in Germany in the areas of
corporate trust, treasury services, depository receipts and client
management. It has over 100 institutional relationships in Germany and offers
regional coverage for 14 countries in the German speaking and Central Eastern
and South Eastern European region.

A leading provider of local custody, depotbank and fund administration
services to some of Germany's largest financial institutions and
institutional investors, BHF Asset Servicing has EUR315 billion (US$427.5
billion) assets under custody and administration and a depotbanking volume of
EUR94.4 billion (US$128 billion). FSKAG administers assets valued at EUR33.1
billion (US$44.9 billion).

*Includes EUR33.1 billion held by FSKAG

Notes to editors

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of
specialized asset servicing capabilities, including custody and fund
services, securities lending, performance and analytics, and execution
services.

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 $22.3 trillion in assets under custody
and administration, $1.1 trillion in assets under management, services $12
trillion in outstanding debt and processes global payments averaging $1.6
trillion per day. Additional information is available at www.bnymellon.com

This press release contains statements relating to future results of BNY
Mellon that are considered "forward-looking statements." These statements,
which may be expressed in a variety of ways, including the use of future or
present tense language, relate to, among other things, aspects of the
acquisition including the effect on BNY Mellon's position in the market, the
amount of volumes and assets under custody and administration and expected
accretion as well as expectations with respect to personnel, service levels,
sources of funding and the closing date, and long-term strategies, plans for
and other implications of the announced transaction. These forward-looking
statements, and other forward-looking statements contained in other public
disclosures of BNY Mellon which make reference to the cautionary factors
contained in this press release, are based on assumptions that involve risks
and uncertainties and that are subject to change based on various important
factors (some of which are beyond BNY Mellon's control). For additional
information with respect to risks and other factors that could occur, see BNY
Mellon's reports filed with the Securities and Exchange Commission pursuant
to the Securities Exchange Act of 1934. All statements speak only as of March
8, 2010, and BNY Mellon undertakes no obligation to update any statement to
reflect events or circumstances after March 8, 2010 or to reflect the
occurrence of unanticipated events.

Media: Ivan Royle, +44-20-7163-3230, ivan.royle at bnymellon.com; or Tim Steele, +44-20-7163-5850, tim.steele at bnymellon.com, or Analysts: Andy Clark, +1-212-635-1803, andy.clark at bnymellon.com, all of BNY Mellon