London - 16 August 2007

Mandate covers custody, trustee, fund accounting, fund administration and sub-advisory services

Spa ETF Europe, a specialist provider of Exchange Traded Funds (ETFs), today announced that it has selected BNY Mellon Asset Servicing, the global leader in asset servicing, to provide European custody and administration services.

Spa ETF Europe is set to provide global private and institutional investors access to enhanced ETFs based on MarketGrader indices from the autumn. In support of its operations, the company has signed BNY Mellon Asset Servicing to provide full sub-advisory services, including global custody, trustee, fund accounting and fund administration. In addition, Spa ETF has appointed BNY Mellon Asset Management, one of the world’s leading asset managers, as sub-advisor for its new family of ETFs, to be launched in the UK in September.

Daniel Freedman, director, Spa ETF International, comments: “In preparation for the launch of our fundamentals-based Exchange Traded Funds, it was important to identify an investor services provider with an established track record and a truly global model. We are confident that BNY Mellon Asset Servicing presents the best strategic fit to help us achieve our long-term growth plans.”

Nadine Chakar, executive vice president at BNY Mellon Asset Servicing, says: “Our appointment further cements the dominant role BNY Mellon Asset Servicing enjoys in the ETF marketplace. We are delighted to be partnering with Spa ETF Europe at this exciting stage in the company’s development and look forward to working alongside the team as their business grows over the coming months.”

Spa MarketGrader ETFs will track the performance of US stock indices created by the MarketGrader quant-based methodology which has proven to consistently outperform major US indices. Its fundamental indices are unique in terms of the comprehensive set of 24 fundamental filters, the equal weighting of all securities and its specific diversification rules, designed to avoid the pricing anomalies that arise out of traditional market-cap based indices. In addition, each MarketGrader index periodically adjusts its holdings to ensure an equal weighting for all stocks and that holdings are of optimal grade.

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