BNY Mellon Completes Acquisition of Pinnacle Arbitrage Compliance

Addition bolsters corporate trust capabilities in public finance sector

NEW YORK, Nov. 2 /PRNewswire-FirstCall/ -- BNY Mellon has completed its
previously announced acquisition of Pinnacle Arbitrage Compliance, one of the
largest independent U.S. firms devoted exclusively to compliance services for
tax-exempt bond issuers and conduit borrowers. Terms of the agreement, first
announced on September 2, were not disclosed.

The acquisition gives BNY Mellon Corporate Trust, a recognized leader in the
public debt market with a long tradition of providing customized solutions to
meet client-specific needs, a team of professionals devoted exclusively to
providing compliance reporting services that include:

-- Arbitrage Rebate Calculations
-- Spending Exception Analyses
-- Yield Reduction Calculations
-- Yield Reduction Payment Determinations
-- IRS Form 8038-T Preparation
-- Overpayment Refund Requests
-- Assistance with IRS Examinations

-- Escrow Monitoring Services

Additional information on these services is available at
www.bnymellon.com/ct/arbitrage

BNY Mellon Corporate Trust services nearly $12 trillion in outstanding debt
from 58 locations in 20 countries. Its clients include governments and their
agencies, multinational corporations, financial institutions and other
entities that access the global debt capital markets. The corporate trust
business utilizes its global footprint and expertise to deliver a full range
of issuer and related investor services and develop customized and
market-driven solutions. Its range of core services includes debt trustee,
paying agency, escrow and other fiduciary offerings.

Corporate trust providers are appointed by debt issuers as well as fund and
collateral management institutions to perform a variety of services related to
debt and collateral administration, safekeeping, direct cash and investment
management, portfolio and transparency analytics, reporting, and final asset
disposition and distribution activities.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). BNY Mellon 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. BNY Mellon 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 $22.1 trillion in assets under custody
and administration and $966 billion in assets under management, services $11.9
trillion in outstanding debt and processes global payments averaging $1.6
trillion per day. Additional information is available at www.bnymellon.com.

SOURCE BNY Mellon

Ron Gruendl, +1-412-234-7157, ron.gruendl@bnymellon.com, or Kevin Heine,
+1-212-635-1590, kevin.heine@bnymellon.com