Software provides comprehensive online account management.

The Bank of New York Company Dec 01, 2006

Press Release Summary:

NetExchange Investor(TM) enables registered investment advisors to provide clients with real-time access to account information, including trade confirmations, periodic account statements, and yearly tax statements. It offers consolidated snapshots of account activity, positions, and balance, including anticipated dividend payments and income distributions. Program shows market activity, including snapshots of how benchmark market indices are performing and most actively traded stock.

Original Press Release:

The Bank of New York's Pershing Advisor Solutions LLC Unit Launches NetExchange Investor(TM)

Enhanced Online Account Management Platform for Independent Registered Investment Advisors' Clients

JERSEY CITY, N.J., Nov. 9 /- The Pershing Advisor Solutions LLC unit of The Bank of New York Company, Inc. has launched NetExchange Investor(TM), a comprehensive online account management solution for independent registered investment advisors' clients. NetExchange Investor allows RIAs to provide their clients with real-time access to a wide range of critical business information on their investment portfolios, as well as financial market activity around the world.

NetExchange Investor, which replaces Pershing's PortfolioPoint(R) platform, will offer the following new features:
o Seamless access to account information, including current and archived trade confirmations, periodic account statements and yearly tax statements
o Access to BillSuite(TM), a leading bill payment and presentment service
o Consolidated snapshots of account activity, positions and balances, including anticipated dividend payments and income distributions, and the ability to view related accounts
o Broad array of market activity, including snapshots of how benchmark market indices are performing at any given point during the day and information about market movement and most actively traded stock
o Easy-to-use administrative features, including Microsoft(R) Excel download capabilities and enhanced instructional information on the usage of Quicken(R) and Microsoft Money(R)
o Cutting-edge design and navigation capabilities

John Iachello, managing director at Pershing Advisor Solutions, said, "We are enhancing and developing new products and technology solutions that help independent registered investment advisors create growth, maintain their competitive advantage and enhance the level of service they provide to their customers. When it comes to communicating with clients, NetExchange Investor provides advisors with the customizable tools, functionality and features they need to increase productivity and maximize results."

An online demonstration highlighting the benefits of NetExchange Investor to registered investment advisors is available at http://pershingadvisorsolutions.com/tournxi.

Pershing Advisor Solutions LLC is an affiliate of Pershing LLC and a leading provider of financial services outsourcing solutions to independent, fee-based registered investment advisors and dually-registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers. Pershing LLC, a subsidiary of The Bank of New York Company, Inc., has a 65-year heritage of providing custodial services and outsourcing solutions to many of the world's leading financial services organizations. Through an innovative custody platform, Pershing Advisor Solutions delivers superior expertise and scalable and customizable solutions to help manage and grow fee-based businesses. Additional information is available at pershingadvisorsolutions.com.

The Bank of New York Company, Inc. (NYSE:BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at bankofny.com.

CONTACT: Barbara Gallo, +1-201-413-2930

Web site: http://bankofny.com/
http://pershingadvisorsolutions.com/