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Two Major Steps in Providing Unparalleled Service to Our Customers

Issue 2 - June 2007

We are pleased to announce that a new Pershing office has been opened in Lake Mary, Florida. Expected to be fully staffed with more than 300 associates by the fourth quarter of 2007, our associates at the Lake Mary facility will perform a wide array of functions including customer service, operational support, and account management. The 67,000-square-foot facility can accommodate more than 400 associates—allowing us room to grow and expand as we keep pace with your future service demands.

Asked to comment on the opening, Pershing’s chief executive officer, Richard F. Brueckner, said, "Our presence in central Florida offers additional geographic diversification that helps ensure Pershing provides its customers with reliable and flexible operations. This new location also supports our growth and ability to serve our customers."

This move satisfies the Securities and Exchange Commission’s (SEC ) requirement that financial institutions have backup facilities 500 miles or more away from the home office. You should have every assurance that in the event that disaster strikes, your business will not be disrupted.

New Data Center
On the technical architecture front, Pershing is pleased to announce significant upgrades to our data center infrastructure, as well as the second-quarter testing of our new, state-of-the-art Tennessee Processing Center (TPC). This facility will meet the demand for larger primary and contingency facilities that was created by the merger of Pershing and The Bank of New York.

Pershing’s strategic plan involves running technical operations at the TPC and at our New Jersey-based data centers. This New Jersey and Tennessee combination strategy also allows us to satisfy requirements established by the SEC for out-of-region disaster recovery.

Pershing has developed a plan to help minimize performance issues during the migration. We also will provide individual technical and testing support to your firm to mitigate issues.

The benefit of both of these moves to you is increased dependability. If the unexpected occurs, Pershing is now better positioned than ever before to weather the storm.

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