London, England; Düsseldorf, Germany; Sydney, Australia;
New York, NY
Founded: 1998*
Assets Under Management: $51.4 billion (3/31/08)

WestLB Mellon Asset Management (WMAM) is a joint venture of WestLB AG and BNY Mellon Asset Management that was launched on April 1, 2006.  WestLB's asset management activities formerly marketed under the WestAM brand in Germany, UK, Italy, Luxembourg, Spain, USA, Australia and Japan have been incorporated into the new company, as have BNY Mellon’s German-based activities. WMAM combines the European expertise of WestLB with the global product range of BNY Mellon to offer our clients a comprehensive range of investment services.

In addition to creating first-class investment products, we attach special importance to our ability to deliver comprehensive client service. We are noted for our structured investment approaches, our dedicated client focus and our excellent range of specialist investment products.

Our investment philosophy is characterized by the following tenets:

· Multi-factor approach to decision making
· Formally derived and scored, complemented where necessary by
  judgmental inputs
· Only appropriate levels of risk taken
· Concentrated, team-based decision making in individual locations -
  Centers of competence
· Primary research shared across the firm

This investment philosophy applies equally, in our view, to all asset classes in all kinds of markets. Every product we offer carries the hallmark of these basic principles.

WestLB Mellon Asset Management (WMAM) is a company jointly and equally owned by WestLB AG and BNY Mellon Asset Management combining WestLB’s main asset management activities (branded WestAM) with BNY Mellon’s asset management activities.

*WestAM was established in its current form in 1998, when the institutional asset management activities of WestLB were combined into a single business unit and named WestAM. Since then, WestAM has grown organically and by acquisition. However, the experience of WestLB in institutional asset management dates back to 1969.

WestLB Mellon Asset Management Holdings Limited
(an Investment Company)
Woolgate Exchange, 25 Basinghall Street, London, EC2V 5HA.
Place of Registration: UK. Company No. 05640740.

The term "investment company" is used here in an English law context and it does not necessarily signify that the relevant company is an investment company as that term is defined or used in any jurisdiction outside England and Wales.