BNY Mellon and Western Securities Celebrate the Launch of BNY Mellon Western Fund Management Company

By Bny Mellon, PRNE
Sunday, November 14, 2010

Joint venture official opening ceremony in Shanghai

LONDON, NEW YORK and SHANGHAI, November 15, 2010 - BNY Mellon and Western Securities today officially celebrated the launch
of their new joint venture, BNY Mellon Western Fund Management Company, at an
opening ceremony in the Shanghai World Financial Center. The ceremony was led
by BNY Mellon chief executive officer and chairman, Mr. Robert P. Kelly, and
Western Securities chairman, Mr. Jianwu Liu, alongside BNY Mellon Western
FMC's chief executive officer, Dr. Bin Hu, and Chairman, Mr. Baohe An.

The joint venture was authorized by the China Securities Regulatory
Commission (CSRC) in July 2010 and is 51% owned by Western Securities, 49% by
BNY Mellon. Led by Dr. Bin Hu, BNY Mellon Western FMC will initially manage
domestic Chinese securities in a range of local retail fund products and
focus on leveraging distribution within the Chinese banking and securities
sectors, building awareness of the new company in the region.

Curtis Arledge, vice chairman of BNY Mellon and chief executive officer
of BNY Mellon Asset Management, said: "Today is a celebration of a major
milestone in our history in China. BNY Mellon Western FMC will combine world
class asset management expertise with a deep knowledge of the investment
needs and preferences of investors in China. This is an exciting time in the
economic development of China and we hope to quickly become a leader in
offering innovative, high quality, locally-focused investment products for
Chinese investors."

Western Securities' chairman, Mr. Jianwu Liu, said: "We are extremely
pleased to join forces with BNY Mellon, one of the world's strongest
financial institutions and are confident BNY Mellon Western FMC will quickly
become the first choice for investors by offering a broad range of financial
products and services, as well as the best market intelligence to help
Chinese institutions seize new opportunities and manage risk in the global

Dr. Hu added: "We have very ambitious expansion plans for our new
company, which include becoming one of China's leading QFII advisors through
actively pursuing QFII sub-advisory deals with foreign institutional
investors and providing access to new products in China."

Founded in 2001 with registered capital of RMB 1bn, Western Securities is
based in Xi'an and has 56 Securities Branches throughout China.

BNY Mellon Asset Management is the umbrella organisation for BNY Mellon's
affiliated investment management firms and global distribution companies.
Founded in 1784, BNY Mellon is listed on the New York Stock Exchange and has
a market capitalization of US$32.4 billion (30 September 2010) making it the
sixth largest bank by market capitalization in the United States. The company
is also one of the strongest financial institutions globally, with the
highest debt ratings of all major U.S. banks as ranked by both Moody's and

BNY Mellon Western FMC does not offer advisory services in the United

Notes to editors:

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
$11.6 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

Louisa Bartoszek, +44-20-7163-2826, louisa.bartoszek at; or Jamie Brookes, +44-20-7163-2146, jamie.brookes at

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