New York City, March 28, 2008 Buttonwood International Group released the fourteenth annual survey of the global custody industry. On an aggregate basis, worldwide custody assets increased to US$88 trillion as of year-end 2007, compared to US$72 trillion for the prior year, a 22% jump in value. In the emerging markets category, the Latin America region showed the strongest growth in custody assets, ending the Asia-Pacific region's four-year run in this category. BNY Mellon Asset Servicing is this year's big story. The recent merger of BNY and Mellon Financial Corporation formed the world's largest global custodian with US$23 trillion of assets-in custody, a phenomenal 66% year-over-year annual growth and a very commanding 26% market share. JPMorgan and State Street Corporation are now locked-in a competitive race for second and third spots, each with about US$15 trillion of AIC. The industry continues on a consolidation trend. The top four players - BNY Mellon, JPMorgan, State Street, and Citibank, N.A.- have a combined 77% market share of the total industry as compared to 68% just one year ago. In a review of alternative investments, global custodians provided fund accounting and administrative services to nearly 8,000 funds representing over US$1.4 trillion in assets, a modest 11% increase in assets over the prior year. The largest category is hedge funds, with asset valuations essentially flat since one year ago. International securities lending, now offered in nearly 70 markets, had a very strong showing. Lending portfolios favored fixed income over equity, with government bonds dominating the fixed income category. Forays into new emerging markets are growing at a modest rate. Network expansion plans are expected to hit a high-water mark of 100 countries for 2008 - the average number of countries covered by a single custodian. Complete survey results may be found in the 2008 Global Custody Yearbook, The Fact Book edition. Global custodian participants in Buttonwood's Industry Forum are: BNY Mellon Asset Servicing BNP Paribas Securities Services Brown Brothers Harriman HSBC Securities Services JP Morgan The Northern Trust Company RBC Dexia Investor Services State Street Corporation