Press Releases

Newton Appointed to Manage Hampshire County Council Pension Fund

LONDON 14 November 2006 — Newton Investment Management, a UK asset management subsidiary of Mellon Financial Corporation, has been awarded a global equity mandate to manage £300 million in respect of the Hampshire Pension Fund.

Newton has been managing global mandates for 25 years and applies a single portfolio approach to running global equity portfolios. The mandate will be managed by members of the global team at Newton.

Commenting on the win, Helena Morrissey, Chief Executive Officer of Newton, said: "This appointment is an endorsement of our solid investment process and expertise in managing global portfolios. We feel that our investment philosophy and the execution of our approach, with analysts and fund managers located in a single London office, provides us with a true global perspective from which to construct portfolios for clients. We look forward to working with Hampshire County Council in achieving their objectives."

Newton Investment Management Limited is a London-based UK asset management subsidiary of Mellon Financial Corporation. With assets under management of almost £33 billion, the company provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. Newton has offices in London, Edinburgh, Leeds and Jersey. News and other information about Newton is available at www.newton.co.uk.

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 asset management, private wealth management, asset servicing and payment solutions and investor services. Mellon has approximately $5.3 trillion in assets under management, administration or custody, including $918 billion under management. News and other information about Mellon is available at www.mellon.com.