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Ken Kawai Joins The Bank of New York Securities Company Japan Ltd

NEW YORK, May 10, 2006 - The Bank of New York Securities Company Japan Ltd., a wholly owned subsidiary of The Bank of New York Company, Inc., has strengthened its marketing efforts focused on transition management and commission recapture services with the creation of a new position dedicated to the Japanese marketplace.

Ken Kawai, vice president, has been appointed as regional product manager to develop transition management and commission recapture opportunities in
Japan. Kawai, an industry veteran who joined the Bank in 1992, has extensive sales and marketing experience serving the needs of institutional investors across Japan.

Through its dedicated BNY Global Transition Management unit, the Bank offers end-to-end transition capabilities and conflict-free client advocacy to preserve assets, manage risk, and control costs. The Bank provides commission recapture services to more than 2,000 funds worldwide through Lynch, Jones & Ryan (LJR), a pioneer and one of the leaders in commission recapture. LJR's commission recapture program offers clients a simple way to save on their commission costs and conserve assets.

Takahide Akiyama, president of The Bank of New York Securities Company Japan Ltd., said, "Over the past two years and particularly since acquiring LJR, The Bank of New York has been moving aggressively to expand its commission recapture and transition management businesses worldwide, particularly in Japan. We are confident that Ken, with his long experience and expertise in the Japanese marketplace, will reach out effectively to plan sponsors in Japan to communicate the strength of our commission recapture and transition management offerings."