• SECURITIES SERVICING FEES UP 6% SEQUENTIALLY
• $12 BILLION OF NET LONG-TERM ASSET INFLOWS IN 2Q10
• CREDIT QUALITY IMPROVEMENT CONTINUES; PROVISION DOWN 43%; NPAs DOWN 12% SEQUENTIALLY
• STRONG CAPITAL GENERATION

 NEW YORK, July 20, 2010 -- The Bank of New York Mellon Corporation ("BNY Mellon") (NYSE:BK) today reported second quarter income from continuing operations applicable to common shareholders of $668 million, or $0.55 per common share, compared with $267 million, or $0.23 per common share, in the second quarter of 2009 and $601 million, or $0.49 per common share, in the first quarter of 2010.

"Our focus on winning new business and providing exceptional client service resulted in solid growth in securities servicing fees and continued long-term asset inflows for our asset and wealth management businesses. Our conservative risk profile is reflected in our excellent credit quality and strong capital generation," said Robert P. Kelly, chairman and chief executive officer of BNY Mellon.

"We continue to invest in our businesses. We just completed our Global Investment Servicing acquisition and expect to close on the acquisition of BHF's German asset servicing operation in August. In addition, we received regulatory approval for the opening of our asset management joint venture in Shanghai, expanded our asset management licensing in Korea, and announced our agreement to acquire a wealth management firm in Toronto," added Mr. Kelly.

Second Quarter Results - Unless otherwise noted, all comments begin with the results of the second quarter of 2010 and are compared to the second quarter of 2009, all information is reported on a continuing operations basis and sequential growth rates are unannualized. Please refer to the Quarterly Earnings Review for detailed business segment information.

• Assets under custody and administration amounted to $21.8 trillion at June 30, 2010, an increase of 6% compared with the prior year and a decrease of 2% sequentially. The year-over-year increase reflects higher market values and net new business. The sequential decrease primarily reflects lower market values. Assets under management, excluding securities lending assets, amounted to $1.0 trillion at June 30, 2010. This represents an increase of 13% compared with the prior year and a 5% sequential decrease. The year-overyear increase was primarily due to the acquisition of Insight Investment Management ("Insight") in the fourth quarter of 2009. The sequential decrease primarily reflects lower market values.

• Securities servicing fees totaled $1.267 billion, a decrease of 2% year-over-year and an increase of 6% sequentially. An increase in asset servicing revenue, excluding securities lending fee revenue, compared with the second quarter of 2009, was partially offset by lower issuer and clearing services revenue which were negatively impacted by lower money market distribution fees. Sequentially, issuer services, asset servicing and clearing services revenue improved reflecting new business, higher transaction volumes and seasonality. Securities lending fee revenue totaled $46 million in the second quarter of 2010 compared with $97 million in the prior year period and $29 million sequentially. The year-over-year decrease reflects narrower spreads and lower loan balances while the sequential increase primarily reflects seasonality.

• Asset and wealth management fees were $676 million in the second quarter of 2010. Adjusted for performance fees and income from consolidated asset management funds, net of noncontrolling interests, these fees totaled $686 million, an increase of 12% compared with the prior year period and a decrease of 1% sequentially (see page 11). The year-over-year increase reflects improved market values, the Insight acquisition and the impact of new business, partially offset by higher fee waivers and a reduction in fees due to money market outflows. Sequentially, the impact of new business was more than offset by lower market values.

• Foreign exchange and other trading activities totaled $220 million compared with $237 million in the prior year period and $262 million in the first quarter of 2010. In the second quarter of 2010, foreign exchange revenue totaled $244 million, an increase of 39% sequentially, driven by increased volatility. The negative other trading revenue of $24 million in the second quarter of 2010 primarily relates to credit valuation adjustments ("CVA") on derivatives due to widening spreads and lower fixed income trading revenue.

• Investment income and Other income totaled $145 million, increasing $92 million year-over-year, and was unchanged sequentially. The year-over-year increase reflects positive foreign currency translations and lease residual gains, partially offset by lower seed capital revenue.

• Net interest revenue (FTE) and the net interest margin were $727 million and 1.74% compared with $770 million and 1.89% sequentially. These declines primarily reflect our credit strategy to reduce targeted loan exposure, as well as reducing the duration of placements.

• Investment securities pre-tax net gains totaled $13 million compared to a pre-tax net loss of $256 million in the second quarter of 2009 and a $7 million pre-tax net gain in the first quarter of 2010.

The provision for credit losses decreased to $20 million in the second quarter of 2010 compared with $35 million in the first quarter of 2010. During the second quarter of 2010, the total allowance for credit losses increased $7 million and net charge-offs totaled $13 million. Nonperforming assets at June 30, 2010 totaled $406 million, a decrease of $53 million, or 12%, compared with March 31, 2010 primarily due to repayments.

• Total noninterest expense (excluding special litigation reserves, FDIC special assessment, restructuring

charges, M&I expenses and intangible amortization) (Non-GAAP) increased 4% compared with the prior year period and 3% sequentially. The increase compared with the prior year period was primarily driven by the impact of the Insight acquisition and higher incentive expenses. The sequential increase reflects higher support agreement charges resulting from a quarterly change in the market value of Lehman securities, the impact of the annual merit increase which was effective in the second quarter of 2010 and the U.K. bonus tax. Comparisons to both periods were also impacted by higher business development activity.

The effective tax rate was 30.2% in the second quarter of 2010.

The unrealized net of tax gain on our investment securities portfolio was $114 million at June 30, 2010 compared with an unrealized net of tax loss of $191 million at March 31, 2010. The improvement in the valuation of the investment securities portfolio was due to tightening credit spreads and a decline in interest rates.

Declaration of quarterly dividend - On July 20, 2010, The Bank of New York Mellon Corporation declared a quarterly common stock dividend of $0.09 per common share. This cash dividend is payable on Aug. 10, 2010 to shareholders of record as of the close of business on July 30, 2010. 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 $21.8 trillion in assets under custody and administration and $1.0 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.

Supplemental Financial Information
The Quarterly Earnings Review and supplemental financial trends for The Bank of New York Mellon Corporation have been updated through June 30, 2010 and are available at www.bnymellon.com (Investor Relations - Financial Reports).

Conference Call Data
Robert P. Kelly, chairman and chief executive officer; Gerald L. Hassell, president; and Thomas P. Gibbons, chief financial officer, along with other members of executive management from BNY Mellon, will host a conference call and simultaneous live audio webcast at 8:00 a.m. EDT on July 20, 2010. This conference call and audio webcast will include forward-looking statements and may include other material information. Persons wishing to access the conference call and audio webcast may do so by dialing (888) 677-5383 (U.S.) and (210) 838-9221 (International) Passcode: Earnings, or by logging on to www.bnymellon.com. The Earnings Release, together with the Quarterly Earnings Review and supplemental Financial Trends, will be available at www.bnymellon.com beginning at approximately 6:30 a.m. EDT on July 20, 2010. Replays of the conference call and audio webcast will be available beginning July 20, 2010 at approximately 2 p.m. EDT through Tuesday, Aug. 3, 2010 by dialing (866) 360-7726 (U.S.) or (203) 369-0178 (International). The archived version of the conference call and audio webcast will also be available at www.bnymellon.com for the same time period.