The Bank of New York Creates Global Registrar and Custody Service for Voluntary Carbon Units

The new registrar and custody service is a critical component inthe development of global standards and processes for the voluntarycarbon offset market, allowing participants who wish to activelytransfer VCUs to do so via a centralized team within the Bank'scorporate trust services division. The register will provide acentralized, secure and paperless environment to support a widespectrum of participants in the voluntary emissions reduction market.

Companies can purchase carbon emissions credits either to offsettheir own carbon emissions or to provide offset products and servicesto consumers.

Karen Peetz, senior executive vice president and head of The Bankof New York's Corporate Trust Division, said, "The collaborativeeffort between our global structured finance team and various marketparticipants has led to an innovative and tailored service that showsour commitment to creating solutions that meet our clients emergingneeds. We expect our collective efforts will greatly assist in thedevelopment and growth of this important market in voluntary carbonunits."

The Bank of New York is a leading provider of corporate trust andagency services. The Bank and its subsidiaries and affiliatesadminister a portfolio of more than 90,000 trustee and agencyappointments, representing $3 trillion in outstanding securities formore than 30,000 clients around the world. The Bank is a recognizedleader for trust services in several debt products, includingcorporate and municipal debt, mortgage-backed and asset-backedsecurities, derivative securities services and international debtofferings.

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,asset management, and private banking. The Company's extensive globalclient base includes a broad range of leading financial institutions,corporations, government entities, endowments and foundations. Itsprincipal subsidiary, The Bank of New York, founded in 1784, is theoldest bank in the United States and has consistently played aprominent role in the evolution of financial markets worldwide.Additional information is available at www.bankofny.com.

This announcement is not an offer to sell or a solicitation of anoffer to buy any securities. The offering is made only by means of theprospectus.