The Industrial and Commercial Bank of China (ICBC) Adopts The Bank of New York Mellon's...

The Industrial and Commercial Bank of China (ICBC) Adopts The Bank of New York
Mellon's Remit Worldwide(SM) Solution for Global Remittances to Payees in
China
ICBC Participation Significantly Expands Global Reach of Remittance Solution
Provided by The Bank of New York Mellon to Client Banks

HONG KONG, Aug. 17 /PRNewswire-FirstCall/ -- The Bank of New York Mellon
(NYSE: BK) and the Industrial and Commercial Bank of China (ICBC) today
announced ICBC's launch of Remit Worldwide(SM), the global remittance solution
provided by The Bank of New York Mellon's Treasury Services Group.

ICBC's launch will enable customers of Remit Worldwide sending banks to remit
funds to beneficiaries with ICBC accounts. Cash pickup services will be
provided at more than 880 ICBC banking offices and all networks throughout
Shanghai. With more than 16,000 locations, ICBC is the largest commercial bank
in China by total assets and in the world by client deposits, and plans to
eventually extend Remit Worldwide participation to more retail locations.

Noting that beneficiaries welcome the convenience and security of receiving
remittances in a banking environment, ICBC said it is committed to providing
the best remittance solutions. With the most extensive domestic network in
urban China and one of the world's leading clearing capacities, ICBC is
cooperating with The Bank of New York Mellon on a number of China payment
initiatives.

"Remittances represent a major form of cross-border funds transfer, and
beneficiaries receiving remittances from customers of Remit
Worldwide-participating banks represent an important growth opportunity for
ICBC," said Richard A. Brown, Head of Treasury Services for The Bank of New
York Mellon in Asia-Pacific. "Reflecting our considerable global payments
capabilities, technology strengths, and extensive experience working with
correspondent banks, Remit Worldwide allows ICBC to access this area of
potential growth while also maintaining quality service delivery and
safeguarding the integrity of the bank's brand."

"Access to beneficiaries in China significantly expands the scope our service,
bringing to 15 the number of receiving countries accessible via Remit
Worldwide. We place a very high value on ICBC's trust, and look forward for
continuing our work with them across a broad range of treasury services
initiatives," Mr. Brown added.

Founded in 1984, ICBC is the largest wholesale and retail bank in China by
total assets and in the world by client deposits. ICBC has more than 16,000
locations in Mainland China and 134 overseas branches and subsidiaries in 15
other countries and areas worldwide. ICBC provide a broad range of financial
products and services for 190 million individual customers and 3.1 million
corporate customers. A leading provider of Internet-based banking services in
China, ICBC has also established agent bank relationships with more than 1,400
banks in 122 countries and areas of the world.

Remit Worldwide(SM) is an enhanced white-label offering that enables customers
of client retail banks to remit funds directly to beneficiaries overseas via
Remit Worldwide's network of receiving banks. Remit Worldwide is part of an
extensive portfolio of white label solutions, including a comprehensive suite
of cash management and trade finance services, offered to other financial
institutions by The Bank of New York Mellon's Treasury Services group.

With locations in 34 countries on six continents and a network of more than
2,000 correspondent financial institutions, The Bank of New York Mellon's
Treasury Services group delivers high-quality performance in global payments,
trade services, cash management, capital markets, foreign exchange and
derivatives. It helps clients optimize cash flow, manage liquidity and make
payments more efficiently around the world in more than 100 currencies.
Processing more than $1.4 trillion in payments transactions on a daily basis,
the company is a top-five participant in both the CHIPS and overall funds
transfer markets, and is a recognized leader in the delivery of white-label
treasury services solutions for banks and other large institutional clients.

The Bank of New York Mellon Corporation is a global financial services company
focused on helping clients manage and service their financial assets,
operating in 34 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, clearing services and treasury
services through a worldwide client-focused team. It has $20.7 trillion in
assets under custody and administration, $926 billion in assets under
management, services more than $11.8 trillion in outstanding debt, and
processes global payments averaging $1.8 trillion per day. Additional
information is available at bnymellon.com.

SOURCE The Bank of New York Mellon Corporation

Ron Sommer of The Bank of New York Mellon, +1-412-236-0082,
ron.sommer@bnymellon.com; or Ms. Zheng Yuezhi of ICBC, +86-10-66105021,
zhengyuezhi.bg@icbc.com.cn