BNY BROKERAGE ACHIEVES TOP 5 PLEXUS RANKING FOR BEST EXECUTION OF MEDIUM-CAP EXCHANGE-LISTED ISSUES

NEW YORK, N.Y., October 1, 2003 - The Bank of New York announced today that Plexus Group has ranked BNY Brokerage Inc. as one of the top five brokers for best execution in medium-cap exchange-listed stocks. BNY Brokerage is a leading agency brokerage firm with broad trade execution and commission management capabilities and is a member of BNY Securities Group.

Plexus Group, founded in 1986, is recognized within the financial services industry as a leading evaluator of institutional equity trading. Plexus Group reports the rankings from its Plexus Broker Universe, a transaction database compiled from trade data contributed by 125 investment managers and representing more than 800 brokers.

Carey S. Pack, president of BNY Brokerage, said, "This ranking highlights BNY Brokerage's commitment to servicing the diverse trading strategies of institutional investors and providing its clients with the highest level of execution quality and trading services. As one of the leading agency brokerage firms, we work closely with clients to understand their trading and investment objectives and are pleased that our execution quality can support enhanced trading performance for our institutional clients."

BNY Securities Group, a business unit composed of several broker-dealers and other companies, is the global agency brokerage, clearing and financial services outsourcing sector of The Bank of New York that provides "The Power of Choice" through business models that offer innovative solutions in trade execution, securities clearance, commission management and independent research to institutions, broker-dealers and corporations. BNY Securities Group is the largest provider of commission management services, has 26 New York Stock Exchange seats, and offers global execution and clearing services in over 80 markets with offices in the U.S., Europe, Asia, and Australia. BNY Brokerage Inc. is a member of NYSE/NASD/SIPC.

The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking.

Press Release Contact:
Marc Weinstein
Spring, O'Brien & Co.
(973) 267-8800

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