Press Releases

Los Angeles City Employees' Retirement System Selects The Boston Company Asset Management to Manage $100 Million

BOSTON, November 4, 2003 — Mellon Financial Corporation today announced that The Boston Company Asset Management, LLC, a wholly owned subsidiary, has been named to manage a mandate in excess of $100 million in emerging market equities for the Los Angeles City Employees' Retirement System (LACERS). The mandate will be benchmarked against the Morgan Stanley Capital International Emerging Markets Index.

"Our mandates for emerging markets continue to grow," said Corey Griffin, TBCAM president. "Plan sponsors increasingly are seeing value in emerging markets and are turning to The Boston Company Asset Management for our consistent performance and proven ability in this arena."

LACERS is a public pension fund providing service retirements, disability retirements, and health insurance subsidies to its members and their families. Established in 1937, LACERS covers 24,000 active employees and 13,000 retirees.

The Boston Company Asset Management, LLC is a global asset management firm offering domestic, international and balanced strategies to defined benefit, defined contribution and other funds of public, corporate and Taft-Hartley plans, as well as investment services to endowment and foundation organizations; sub-advisory services are offered as well. The Boston Company was founded in 1970 and as of September 30, 2003, managed $30 billion in assets.

Mellon Financial Corporation is a global financial services company. Headquartered in Pitts-burgh, 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 and investor solutions, and treasury services. Mellon has approximately $3.2 trillion in assets under management, administration or custody, including $625 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.