Update at a Glance

May 9, 2007

Learn About Mellon Working Capital Management Solutions at Windy City Summit

Mellon Working Capital Solutions (WCS) invites you to attend special sessions on ways to improve your working capital management, meet our representatives, and see select Mellon product and service demonstrations at this year's Windy City Summit, May 23-25 in Chicago.

The following presentations will be featured:

• "Taking Your Corporate Card Program to the Next Level" — Wednesday, May 23 from 10:00 a.m. - 10:50 a.m. with Anthony Giarnella, assistant vice president, CPM, CCM, senior Payments Product manager for Mellon WCS.
• "Paperless Wholesale Lockbox" — Friday, May 25 from 8:25 a.m. - 9:15 a.m. with Alan Evanish, vice president, CTP, Corporate Receivables senior Product manager for Mellon WCS.
• "Back Office Conversion — What it Means for Banks & Merchants" — Friday, May 25 from 10:15 a.m. - 11: 05 a.m. with Blaine Carnprobst, first vice president, CTP, Receipts Product line manager for Mellon WCS.
• "Financial Outsourcing of Working Capital Functions" — Friday, May 25 from 10:15am - 11:05am with Susan Creighton, vice president, CTP, Business Development executive for Mellon WCS.
• "Getting the Most Out of Your Online Payment Applications" — Thursday, May 24 from 2:05 p.m. - 2:55 p.m. with Michelle Palombo, vice president, CTP, AAP, Information Services Product line manager for Mellon WCS.
• "Fraud Trends: Are Your Internal Controls Adequate?" — Thursday, May 24 from 9:35 a.m. - 10:25 a.m. with Janice Dowiak, vice president, Disbursements senior Product manager for Mellon WCS.
• "Retail Lockbox Value Added Services — Tackling Exception Items Head On" — Wednesday, May 23 from 11:05 a.m. - 11:55 a.m. with Jeff Paradis, Premium Accounting manager for Safety Insurance; Joseph Cepec, assistant vice president, Consumer Receivables Product manager for Mellon WCS; and Blaine Carnprobst, first vice president, CTP, Receipts Product line manager for Mellon WCS.
• "Returns, Efficiency, Controls — Supercharge Treasury Investing with Portal Technology" — Thursday, May 24 from 3:55 p.m. - 4:45 p.m. with Dirk Racine, CTP, CPA, director of Treasury Operations for Telephone and Data Systems, Inc., and Kirk Black, vice president, CTP, CPA, Treasury Investments senior Product manager for Mellon WCS.

In addition, visit our booth (#315) to meet our payment solution experts and see online demonstrations of key treasury management products and services, including:

• Mellon iTelecash® — Mellon WCS' comprehensive, online information reporting and transaction initiation at your fingertips.
• Liquidity Management Service (LMS), Mellon's comprehensive Web-based investment tool — available via Mellon iTelecash® — that enables customers to conveniently initiate money market mutual fund and fixed income securities transactions with Mellon Financial Markets, LLC (MFM)*, Mellon's full-service broker dealer.
• Mellon Retail Lockbox Document Imaging — Online access to check and remittance document images, including Mellon Retail Lockbox Automated Exception Processing, for online, intraday review and correction of exceptions to assist in efforts to speed funds collection.

To learn more about these issues, including our latest offerings featuring Remote Check Capture and Back Office Conversion solutions, contact our cash management experts at 1 800 424-3004 or e-mail us at wcs@mellon.com.

*MFM is a member of the NASD and SIPC. Money market funds and other investments offered through MFM are not FDIC-insured, not bank-guaranteed, may lose value and will fluctuate in yield. Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. Investors may obtain prospectuses and other information through LMS and should read this information carefully before investing.