The Bank of New York Company, Inc. Appoints Richard F. Brueckner Senior Executive Vice President

Business Wire, May 31, 2006

NEW YORK -- The Bank of New York Company, Inc. announced today that Richard F. Brueckner, chief executive officer of Pershing LLC, a subsidiary of The Bank of New York Company, Inc. has been appointed senior executive vice president of The Bank of New York. Mr. Brueckner will continue to serve as a member of The Bank of New York's executive committee and will retain his responsibilities as chief executive officer of Pershing LLC. He joined The Bank of New York in May 2003, when the Bank acquired Pershing from Credit Suisse First Boston (CSFB).

Thomas A. Renyi, chairman and chief executive officer of The Bank of New York, said, "Rich has led the successful and complete integration of Pershing into The Bank of New York while meeting or exceeding the critical targets we set for the combined businesses. He has become a valued member of our Company's leadership team and will continue to play a key role as we pursue new growth opportunities in securities servicing worldwide."

Mr. Brueckner served as chief executive officer of Pershing and as a member of the CSFB Executive Board after CSFB's acquisition of Donaldson, Lufkin and Jenrette (DLJ) and Pershing in November 2000. Mr. Brueckner joined DLJ in 1978 and served as treasurer of DLJ Securities Corporation and chief financial officer of Pershing, where he held a variety of senior management positions in administration, finance, marketing, and operations. Prior to 1978, he was in the management group of the investment services department of KPMG Peat Marwick.

Mr. Brueckner is a governor of the NASD(R) and a director of the NASD Regulation. He currently serves as presiding governor, as chairman of the finance committee, and as a member of the executive committee and the governance committee. He has previously served as chairman of the NASD's National Adjudicatory Council and as chairman of the NASD's New York District Committee. Mr. Brueckner is also on the Board of Directors of the Securities Industry Association (SIA) and serves as the SIA's treasurer and as a trustee of the SIA's Foundation for Investor Education. He has been active in the SIA serving as the founding chairman of the clearing firms committee, chairman of the membership committee, chairman of the New York District, and chairman and chief executive officer of the Securities Industry Foundation for Economic Education. He has also served on the Board of Archipelago, LLC and as a trustee for the Frontier Trust Company in Fargo, North Dakota. Mr. Brueckner is chairman of the Board of Trustees of Muhlenberg College in Allentown, Pennsylvania, and a trustee of the United Way of Hudson County, New Jersey.

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: institutional services, private banking, and asset management. 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 www.bankofny.com.