Update at a Glance

February 26, 2007

Mellon Prepares for Early Daylight Savings Time Change

As a result of the Energy Policy Act of 2005, Daylight Savings Time (DST) — which begins on the second Sunday in March — will be extended by four weeks in 2007. This extension will be in effect at least through 2015 and affects locations within the United States and Canada.

The extension of DST will affect all operating systems, applications and products that process dates and times. If the change is not addressed, time and date calculations could be incorrect.

Mellon is currently reviewing all products and applications to determine which will need to be fixed. We have dedicated appropriate resources to this effort and are confident that our systems will have completed all necessary programming changes and internal testing to ensure that there is no impact as a result of this change. We are also developing contingency plans to manage any unanticipated problems that may arise.

For more details on the upcoming DST extension, contact our cash management experts at
1 800 424-3004 or e-mail us at wcs@mellon.com.