Press Releases

Teacher's Retirement System of Louisiana Names Mellon Global Securities Services to Provide Custody Service

BOSTON, September 11, 2003 — Mellon Financial Corporation announced that its Mellon Global Securities Services (GSS) group has been awarded the custody contract for the $11 billion Teachers' Retirement System of Louisiana (TRSL). Mellon will provide domestic and global trust and custody and cash management, while Russell/Mellon Analytical Services will supply performance measurement and analytics to Louisiana's largest public retirement system.

"We were impressed with Mellon's commitment to the custody and asset-servicing business," said Dan Bryant, chief investment officer of the Baton Rouge-based TRSL. "Furthermore, Mellon's leading-edge technology will enhance the level of reporting that we will receive. In addition, Russell Mellon's product line, including performance measurement, analytics and Private i®, will add significant value to our investment process.'' Private i, a software tool for managing and tracking alternative investments, is a registered trademark of the Burgiss Group, LLC.

"We are excited to be working with the Louisiana teachers," said Vince Sands, senior vice president and executive director, U.S. Trust Services for Mellon GSS. "Our investment in technology is enabling us to raise the level of service that custody providers can deliver."

Mellon Global Securities Services is one of the largest providers of asset services for public and private pension funds, asset managers, mutual funds, insurance, and other financial institutions. Through its joint venture partnerships — ABN AMRO Mellon, CIBC Mellon and Russell/Mellon Analytical Services — and its Eagle Investment Systems subsidiary, Mellon GSS delivers innovative solutions worldwide.

Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources services and treasury services. Mellon has approximately $3.1 trillion in assets under management, administration or custody, including $612 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at www.mellon.com.