Approval of Application by The Bank of New York Mellon Corporation, New York

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Press Release

Approval of Application by The Bank of New York Mellon Corporation, New York

May 16, 2008

NEW YORK—The Federal Reserve Bank of New York approved on May 15 the application by The Bank of New York Mellon Corporation, New York, New York, to merge Bank of New York Mellon Interim Institutional Bank, Pittsburgh, Pennsylvania (MIB) with and into Bank of New York, New York (BNY), incident thereto, BNY will assume assets and liabilities of MIB and retain and operate MIB’s branches:

Pittsburgh Institutional Branch, Pittsburgh, Pennsylvania; Everett Branch, Everett, Massachusetts; Ligonier Institutional Branch, Ligonier, Pennsylvania; Radnor Institutional Branch, Radnor, Pennsylvania.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.

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