The Bank of New York Mellon is Open For Business.

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1 TREASURY SERVICES The Bank of New York Mellon is Open For Business. Merger Spawns New Platform for Enhanced Treasury Services. Sponsored supplement to Treasury & Risk magazine

2 The Bank of New York Mellon is Open for Business Complementary Strengths Yield Enhanced Value, Enable Global Growth for Clients Eric D. Kamback, Executive Vice President and Deputy Sector Head of The Bank of New York Mellon Treasury Services, is responsible for all strategic initiatives related to global payment, global trade, and cash management services including sales initiatives, client support, product management and product development. What is the significance of the merger between The Bank of New York Company, Inc. and Mellon Financial Corporation for the Treasury Services business? The combined companies form a global franchise with complementary strengths. Mellon brings its market leading U.S. cash management solutions and resources to which The Bank of New York adds its international infrastructure and expertise in global payments and trade finance. This tremendous synergy enables the new company s Treasury Services sector to concentrate on providing a complete suite of global working capital solutions to our clients. Our comprehensive capabilities also provide a platform from which we can continue to innovate with new product development. Eric discusses the strategic value of The Bank of New York Mellon, and the benefits that the newly merged franchise brings to its corporate and financial institution clients worldwide. How do your clients benefit from the merger? Under continued cost pressure, clients wish to leverage their relationship with a smaller group of banking partners that can serve them domestically and internationally. They want a trusted provider that can help them navigate the complex global banking environment mitigate risks and address regulatory requirements while minimizing fees, increasing efficiency, enhancing service quality, and optimizing working capital. The complementary strengths of The Bank of New York Mellon s legacy companies enable us to become a full solutions provider to our clients. Not only do we participate in the global banking arena, but through our active involvement in organizations such as SWIFT and NACHA, we represent the needs of our clients in industry efforts to shape the global payments landscape. Our business leaders are engaged in leading industry dialogue at the country, regional, and global levels. Given this combined strength, what differentiates The Bank of New York Treasury Services from its global bank competitors? Treasury Services is a core business for The Bank of New York Mellon. For many of our competitors, treasury services play a small role in their overall strategy. Our senior management understands that, to be successful, we must continually invest in the business. These investments go beyond technology and include building deep levels of expertise within the industry and processes for collaboration with clients. Today, our company serves 80 percent of the Fortune 500 and 70 percent of the Global 500. But our commitment to the industry goes well beyond. A key component of our strategy is to private label our capabilities to enable other financial institutions to deliver treasury services to their business customers. This evidences our deep 2

3 commitment to the industry to operational excellence and service quality, technology investment, and the scale required for providing efficient and cost-effective solutions. Our corporate clients directly benefit from this strategy. Another differentiator is the deep relationships that we ve built with our correspondent banking network. When we work with other financial institutions globally, we don t compete with them. We leverage this strength in facilitating global business for our clients. We bring a high level of expertise and collaboration across our network to getting the transaction done. Our service quality is second to none. What are the areas of strategic focus within treasury services for the newly combined firm? We are strategically focused on ensuring that the clients from our respective legacy organizations immediately benefit from our expanded, comprehensive product capabilities. And we will continue to focus on enhancing our capabilities across the spectrum of working capital solutions as we move ahead. And we are fully committed to being number one in service quality in the industry. A Global Leader Our track record of proven performance underscores our commitment to delivering superior solutions that support our corporate clients as they expand globally. Number 1 in customer satisfaction for Treasury Services* (Bank Leader Survey, ) Number 1 in all Greenwich Quality Indexes: Cash Management Relationship; Bank Operations; Customer Service; Implementation; and Internet and E-Commerce (Greenwich; 2005, 2006) Number 1 Global Trade Services Provider (Trade Finance Magazine; 2004, 2005) Number 1 Accounts Payable Outsourcing Provider (Brown-Wilson Group, 2006) Best Foreign Exchange Service Provider Overall (Global Investor, 2007) 4th largest USD payment processor transferring $1.4 trillion daily (Clearing House and Federal Reserve Board) 2nd in Fedwire transactions and Book Transfers; 3rd in CHIPS and Retail Lockbox (Ernst & Young combined rankings, 2006) Satisfaction based on Legacy Mellon Clients. What kinds of solutions and expertise are they looking for from their banking partners? Companies want straight-through processing (STP) for all of their transactions not just the domestic ones. Within an increasingly complex global marketplace, our clients want us to handle the exception items those non-stp items that require manual intervention and make the process transparent to them. They seek simplified, integrated solutions that eliminate the borders between them and their vendors, customers, and employees. The Bank of New York Mellon is creating a single integrated channel for transaction initiation that eliminates exception processing from the client perspective. We call this buffeting; which means that we absorb any process differences, using technology to create a seamless transaction flow for our clients. How do the company s treasury services capabilities and global infrastructure support clients as they expand globally? It should be as easy for clients to deal with their business partners globally as it is domestically. Clients should not have to pause to consider whether they would receive better service or prices by working directly with an overseas bank. Within the Treasury Services line of business, we have four areas of strategic focus: Cash and Accounts Payable Services, Liquidity Services, Trade Finance, and Global Payments. We draw from across these product groups to craft client-focused solutions within an increasingly global operating environment. What are you hearing from clients about their key objectives and challenges as they expand globally? Our global infrastructure emphasizes strong relationships with local correspondent banks so that we can flawlessly execute transactions and deliver the related information flows. This enables our clients to efficiently work with their global business partners. How will this merger integration differ for clients from the typical experience? Typically in a merger environment, consolidation absorbs a high level of resources, and, to a large extent, business goes on hold, and clients suffer. This merger is different. The Bank of New York Mellon is open for business. We are already building forward momentum based on the joint strengths of our heritage organizations. We are leveraging our complementary capabilities to benefit our clients. We continue to aggressively pursue product development. The combined strengths of our legacy companies offer a full set of treasury services and a platform from which to drive innovation. 3

4 Two-Part Web Seminar Series on Emerging Trends in Payments Best Practices for Sending (11/13/07 at 2pm EST) and Receiving Payments (12/5/07 at 2pm EST) Attendees will learn to: Be more cost effective and efficient when making global payments and receiving deposits Better optimize cash flow Implement technology solutions for your business demands Moderator: Pat Wechsler, Editorial Director, Treasury & Risk Panelists: Al Briand, Director of Product Management, The Bank of New York Mellon Treasury Services Michael Gallanis, CTP, CPA, Partner, Treasury Strategies, Inc.

5 TREASURY SERVICES About Our Services Our Vision To provide the industry s best total global treasury solution, as evidenced by operational excellence, exceptional service, product leadership, and consultative expertise. Global Payments Manage Cash Flow, Liquidity & Risk Global Payment Services Page 5 Cash and Accounts Payable Services Page 6 Trade Finance Services Page 6 Liquidity Services Page 7 To schedule a discussion about your business issues with one of The Bank of New York Mellon s thought leaders, call 1 (800) or send an to wcs@bnymellon.com The Bank of New York Mellon combines advanced technology, innovative products, and industry expertise to help our clients optimize cash flow, manage liquidity, and mitigate risk while efficiently and cost effectively reaching their customers, vendors, employees and investors around the world. Our clients can make payments around the world in more than 100 currencies. Global payment activity continues to globally, they increasingly need an grow as companies and individuals efficient and cost effective way to make regularly make cross-border payments cross-border foreign currency payments within the emerging global marketplace. for salaries, pensions, dividends, and We enable our clients to make crossborder payments anytime, anywhere. global mass payments solution that accounts payable. We offer a simplified Our capabilities address the spectrum of integrates an International ACH (IACH) clients needs for domestic and international payments, U.S. dollar and multicur- alternative for reaching suppliers, payment capability, an electronic rency, treasury and commercial, low and employees, customers, and investors. high value, one-time and repetitive We leverage our correspondent banking payments. network to automate the payment flow to Cross-border, low-value, repetitive the beneficiary s bank account. The bulk payments pose a challenge for our solution removes the cost and delay corporate clients. As clients expand associated with check payments. Global Payment Services at a Glance U.S. Dollar Clearing Direct Remittance Payments Multicurrency Funds Transfer Disbursements Foreign Exchange Concentration and Collection Global Mass Payments Services 5

6 Cash and Accounts Payable Comprehensive Working Capital Management The combined strengths of the heritage Mellon and Bank of New York organizations provide a rich set of cash management products and services. This includes comprehensive accounts receivable and accounts payable solutions, as well as transaction initiation and reporting for the full range of cash management. Our receivables solutions include wholesale, retail, and custom lockbox services, which leverage our national network of lockbox sites. Payables capabilities include paper and electronic disbursement methods, Cash and Accounts Payable Services at a Glance B2B and B2C Receivables Disbursements Treasury Management Finance and Accounting Services Energy Consumption Analysis Private-label Outsourcing for Financial Institutions image capabilities, and fraud protection tools such as Positive Pay and Positive Payee. The Bank of New York Mellon is committed to investing in capabilities that enable our clients to reduce cost, increase efficiency, and strengthen control. This includes making strategic acquisitions and building partnerships. For example, ClearTran, a heritage Mellon acquisition, provides an end-to-end payments processing solution for companies accepting consumer and business payments over the telephone, through an automated voice system, or via the Internet. Likewise, Mellon s aquisition of SourceNet Solutions brings a full array of outsourcing services accounts payable processing, disbursements, purchasing card administration, trade payables finance, document-to-digital conversion, e-commerce solutions such as invoice processing, and energy consumption analysis a tool for understanding and controlling energy costs and usage. We intend to augment these rich outsourcing services with additional global capabilities. Trade Finance Efficient Management of Global Trade Transactions The Bank of New York was the first U.S. bank to issue a letter of credit more than 200 years ago. Today, The Bank of New York Mellon provides comprehensive global trade finance solutions that enable our clients to facilitate trade, manage risk, expedite payments, finance trade flows, and navigate global markets. We take an advisory approach that includes working closely with our correspondent banking network to facilitate trade transactions while mitigating the financial risk between buyers and sellers. Clients seek a more comprehensive solution for managing traditional letter of credit activity and growing open account transactions. Using our global network and leading Internet trade systems, we can offer clients Trade Finance Services at a Glance Letters of Credit U.S. Dollar Reimbursements Global Collections 6

7 Liquidity Services Integrated Suite of Liquidity Management Solutions Liquidity services are fundamental to enabling clients to improve their cash flow, optimize working capital efficiency, and enhance financial performance. Our solutions combine concentration and investment services to address client preferences to actively or passively manage their liquidity. Comprehensive information reporting tools facilitate cash positioning and other support activities. The Bank of New York Mellon combines the complementary strengths of its legacy organizations in delivering its suite of liquidity services. Mellon brings an integrated online investment portal through which clients can gain access to a wide selection of short-term investments at competitive yields. The Bank of New York provides robust concentration services, including overnight investment sweeps. Clients must follow investment policies and guidelines, which dictate their needs. This means we must offer a complete spectrum of liquidity and investment alternatives to satisfy a broad range of investment criteria and preferences. The Bank of New York Mellon lets clients customize our solutions to address their unique requirements, and we will add features and functions where we see client need. We take a highly collaborative approach to working with our clients. In light of Sarbanes-Oxley requirements, clients are concerned with Liquidity Services at a Glance Concentration Services enhancing internal controls around their investment process. As they expand globally, clients must manage liquidity within an increasingly complex operating environment. Our solutions support client efforts to both strengthen controls and operate efficiently as they increasingly manage global liquidity. Investment Services a common platform from which to efficiently manage their entire trade business, including tracking, managing, financing, and settling their open account transactions. The Bank of New York Mellon invests in capabilities that address clients evolving needs for solutions that facilitate supply chain integration. For example, we are engaged in the development of a SWIFTNet Trade Services Utility (TSU), which will enable us to provide innovative solutions related to both open account transactions and supply chain integration. Technology plays an important role in providing tools that enable our clients to more efficiently manage their trade transactions. We have invested $3.5 billion in technology in the past five years to enable us to innovate in ways that enhance the global competitiveness of our clients. We leverage our own technology platform and operations to provide cost effective trade outsourcing solutions. Our strategic investments in technology and outsourcing capabilities underscore our commitment to the trade finance business. Structured Trade Outsourcing Services Exporter Collections via the Internet 7

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