The Bank of New York Appoints Private Client Asset Management Investment Officers

Patrick T. Crowe, managing director and chief investment officerof Personal Asset Management, is responsible for overseeing equitystrategies and investment research for the Bank's private clients.Kevin Connolly, managing director and chief investment officer ofPersonal Fixed Income, directs fixed income investment strategies.Burton Siegel, managing director of the Investment Advisory Group, isresponsible for devising and implementing customized, openarchitecture asset allocation strategies for clients.

All three individuals now report to Kevin J. Bannon, The Bank ofNew York's chief investment officer and chairman of the Bank'sInvestment Policy Committee, which determines strategy and portfolioallocation recommendations for institutional and private clients.

"These appointments reflect our commitment to developing anddelivering investment solutions that help high-net-worth individualsaccumulate and grow their wealth," said Kevin J. Bannon, executivevice president and chief investment officer for BNY Asset Management."Pat, Kevin and Burt collectively bring more than 75 years of privateclient investment experience to their positions, which will helpsolidify our focus on delivering superior, long-term returns to ourclients."

BNY Asset Management's assets under management have grown from $76billion at year-end 2002 to $105 billion at year-end 2005, making itone of the largest investment managers in the United States. BNY AssetManagement offers corporations, public funds, Taft/Hartley plans,nonprofit organizations and high net-worth individuals and families abroad range of equity, fixed-income and alternative investmentproducts.

The Bank of New York's Private Bank manages and administers morethan $60 billion in assets for high net worth clients. It has beenserving the needs of wealthy individuals and families for twocenturies.

The Bank of New York Company, Inc. (NYSE: BK) is a global leaderin providing a comprehensive array of services that enableinstitutions and individuals to move and manage their financial assetsin more than 100 markets worldwide. The Company has a long traditionof collaborating with clients to deliver innovative solutions throughits core competencies: securities servicing, treasury management,investment management, and individual & regional banking services. TheCompany's extensive global client base includes a broad range ofleading financial institutions, corporations, government entities,endowments and foundations. Its principal subsidiary, The Bank of NewYork, founded in 1784, is the oldest bank in the United States and hasconsistently played a prominent role in the evolution of financialmarkets worldwide. Additional information is available atwww.bankofny.com.