Nordea and The Bank of New York Appointed by Swedish AP7 Pension Fund as Global Custodian; First Win Following Announcement of Strategic Agreement to Provide Global Custody in Nordic Region

Nordea and The Bank of New York were joint bidders for themandate, which represents the first win following their strategicagreement announced in August 2005. The two companies are now workingtogether to provide global custody services to Nordea's institutionalclients in the Nordic and Baltic Sea regions.

Peter Norman, executive president of AP7 commented, "We selectedNordea and The Bank of New York because we were very impressed by thejoint offering that they presented. We have a need for a robust globalcustody solution to address the needs of the fund and we are confidentthat their appointment gives us this."

Tim Keaney, Head of Europe at The Bank of New York, continued,"Our appointment with Nordea by AP7 pension fund, a big name in thissector, is testimony to the strength of our joint global custodyoffering in the region. Through our relationship with Nordea, we nowhave a compelling, robust securities servicing solution to offercustomers, and a growing commitment to the Nordic market."

Birger Gezelius, Head of Nordea's Financial Institutions Division,said, "The market in our region is changing and becoming much moretransparent. The enhanced offering that we can provide our clientsthrough the partnership with The Bank of New York recognises andaddresses this. I am delighted that we have won this important mandatewith AP7 and am pleased with the confidence that they have shown inour new approach to the market."

The Bank of New York Company, Inc. (NYSE:BK) is a global leader inproviding a comprehensive array of services that enable institutionsand individuals to move and manage their financial assets in more than100 markets worldwide. The Company has a long tradition ofcollaborating with clients to deliver innovative solutions through itscore competencies: securities servicing, treasury management,investment management, and individual & regional banking services. TheCompany's extensive global client base includes a broad range ofleading financial institutions, corporations, government entities,endowments and foundations. Its principal subsidiary, The Bank of NewYork, founded in 1784, is the oldest bank in the United States and hasconsistently played a prominent role in the evolution of financialmarkets worldwide. Additional information is available atwww.bankofny.com.

Nordea is the leading financial services group in the Nordic andBaltic Sea region and operates through three business areas: RetailBanking, Corporate and Institutional Banking and Asset Management &Life. The Nordea Group has almost 11 million Nordic customers and1,150 branch offices. The Nordea Group is a world leader in Internetbanking, with 4.1 million e-customers. The Nordea share is listed inStockholm, Helsinki and Copenhagen. www.nordea.com