Press Release

The Bank of New York Doubles Size of Risk Services Business, Reaching $1 Trillion in Client Assets

NEW YORK, February 13, 2007 -- The Bank of New York, a global leader in securities servicing, has doubled the assets for which it provides global risk services from $500 billion to more than $1 trillion in just two years. The rapid growth has been driven by the introduction of new risk and analytics services, such as daily factor-based attribution, security characteristics and other risk measures.

Debra A. Baker, managing director and head of global risk services at The Bank of New York, said, “We’ve reached this milestone by anticipating the emerging risk management needs of our institutional clients and delivering best of breed analytics into our custodial reporting capabilities.”

As part of its ongoing product development, the Bank plans to introduce new risk management capabilities, such as risk budgeting, counterparty exposure monitoring and additional reporting on derivatives in the next year.

In 2004, the Bank entered into a strategic alliance with Wilshire Associates to deliver a comprehensive array of risk management services to a combined base of 800 institutional investor clients. The Bank has been providing variations of risk products and services to clients for nearly 30 years.

Global Risk Services provides performance measurement, analytics, alternative investment reporting, compliance monitoring, VaR and other risk measures to institutional clients worldwide. This division supports diverse market segments including pensions, endowments and foundations, investment managers, insurance companies and banks.

The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.

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