BNY Mellon Asset Servicing Selected for Korea's First Locally Domiciled Investment Trust Funds to China A-Share Market

BNY Mellon Asset Servicing Selected for Korea's First Locally Domiciled Investment Trust Funds to China A-Share Market

September 27, 2007

   LONDON, Sept. 27 /Xinhua-PRNewswire/ --

    BNY Mellon Asset Servicing, a global leader in
securities servicing, has been selected by PCA Asset China
Dragon A Share Fund -- Korea's first locally domiciled fund
that invests in China A-share market -- to provide custody
services. 

    China A-share markets in Shanghai and Shenzhen stock
exchanges are open only to Chinese-national investors and
qualified foreign institutional investors
("QFII"). PCA Investment Trust Management
Company, an affiliate of Prudential Asset Management, and
Kookmin Bank, trustee of the fund, is Korea's first locally
domiciled investment trust fund to invest directly into the
China A-share market. 

    Mr. Sang-Bum Lee, Head of the Foreign Custody team at
Kookmin Bank, commented: "Kookmin Bank is the largest
trustee bank in Korea with a strong corporate and retail
banking network. As the first trustee bank in Korea to
allow local investors to make investments into the China
A-share market, Kookmin Bank will take the advantage of
leading local investors to tap into this new investment
market. Kookmin Bank selected The Bank of New York Mellon
because of its strong partnership approach and its ability
to share their expert knowledge in the complex workflow of
securities and cash instruction movements to and from the
China market. Over the course of many years working with
The Bank of New York Mellon, they have consistently
demonstrated that they can commit their valuable resources
and time to meet our requirements and expectations as well
as the demands of the Korean market." 

    Mr. Tae Hyun Son, Team Head, Operations and Risk
Management of PCA Investment Trust Management Company in
Korea, ("PCA ITMC"), said: "PCA ITMC has
been working with The Bank of New York Mellon to set up
QFII related workflow. The Bank of New York Mellon is also
known in Korea to be working very closely with Kookmin Bank
on the development of the QFII workflow, and this close
working partnership was one of the important factors we
looked for when selecting suitable partners. We look
forward to enhancing our relationship with both Kookmin
Bank and The Bank of New York Mellon and believe the two
will provide us with excellent service that will meet our
current and future needs." 

    Chong Jin Leow, Head of Asia Asset Services, at BNY
Mellon Asset Servicing, said: "We have always been
committed to being the preferred partner of Kookmin Bank
and Prudential Asset Management to help them succeed. We
understood the needs of Korean investors' demands in
rapidly expanding the number of markets available to them,
and providing access to one of the world's fastest growing
markets represents an excellent opportunity for Korean
investors. We applaud Kookmin Bank and PCA ITMC and
Prudential Asset Management following the successful launch
of their first locally domiciled investment trust fund
targeting the China A-share market."

    Chong Jin Leow noted the complex securities and cash
workflow instructions between Korea and China is the
culmination of months of extensive work by the teams at The
Bank of New York Mellon, Kookmin Bank and PCA ITMC and
highlighted the value of establishing a strong and
disciplined relationship management infrastructure to meet
the demands of Korean retail clients.

    The Bank of New York Mellon has been conducting
business in Korea for nearly 20 years. The company has a
full branch office in Korea, and works with a wide range of
banks, governments, and other financial institutions
throughout the nation. 

    Notes to Editors

    BNY Mellon Asset Servicing offers clients worldwide a
broad spectrum of specialised asset servicing capabilities,
including custody and fund services, securities lending,
performance and analytics, and execution services.  BNY
Mellon Asset Servicing provides services through The Bank
of New York, Mellon Bank, N.A. and other related
companies.

    The Bank of New York Mellon Corporation is a global
financial services company focused on helping clients
manage and move their financial assets, operating in 37
countries and serving more than 100 markets.  The company
is a leading provider of financial services for
institutions, corporations and high-net-worth individuals,
providing superior asset management and wealth management,
asset servicing, issuer services and treasury services
through a worldwide client-focused team.  It has more than
$20 trillion in assets under custody and administration and
more than $1 trillion in assets under management. 
Additional information is available at
http://www.bnymellon.com .


    For more information, please contact:  

     Louisa Bartoszek 
     BNY Mellon Asset Servicing
     Tel:   [phone]
     Email: [e-mail]