PITTSBURGH, Jan. 6 /PRNewswire/ -- One of Mellon Financial Corporation's
(NYSE: MEL) key goals last weekend was to make the transition to the year 2000
uneventful for its global customers, and with Mellon now in its fourth
business day of the new year, this goal has been reached.
"As we begin to wind down monitoring our key indicators and performing
wellness checks of our own systems, as well as those of our key providers and
vendors, it's clear that the transition into 2000 was truly uneventful for
Mellon and our customers," said Martin G. McGuinn, Mellon chairman and chief
executive officer. "We are delighted because that is what we have been
working toward since 1996."
As a global financial services company, Mellon has subsidiaries and
alliances in more than a dozen other countries, several of which enjoyed
banking holidays on Monday, Jan. 3. "As we have transitioned into our fourth
business day of 2000 domestically, and the third in which all of our
international affiliates are operating, it continues to be business as usual,"
McGuinn said. Mellon will continue to monitor other critical dates in the
future, including the end of the first month and quarter of business, as well
as Leap Year Day (Tuesday, Feb. 29).
"The extraordinary efforts over the past several years of all of our
26,000 employees in getting ready for the date change, and particularly the
approximately 7,000 worldwide who worked during the past weekend, made a clear
statement about what Mellon stands for and is able to accomplish when we work
as a team," McGuinn said. "We were prepared, we were confident and we
communicated openly and clearly with our customers and other important
audiences."
Mellon Financial Corporation is a global financial services company with
approximately $2.5 trillion in assets under management, administration or
custody, including approximately $450 billion under management. One of the
world's leading providers of wealth management and global investment
management for individual and institutional investors, as well as global
investment services for businesses and institutions, Mellon also offers a
comprehensive array of banking services for individuals and small, midsize and
large businesses and institutions in selected geographies. Its world-class
asset management companies, which include The Dreyfus Corporation in the
United States and Newton Management Limited in the United Kingdom, provide
investment products in virtually every asset class and investment style. In
addition, Mellon is a top global provider of custody, retirement and benefits
consulting services through its Mellon Trust and Buck Consultants affiliates.
Headquartered in Pittsburgh, Mellon has operations or joint ventures around
the world.
Press releases and other information about Mellon Bank Corporation and its
products and services are available at http://www.mellon.com on the Internet. For
Mellon press releases by fax, call 1-800-758-5804, identification number
552187.
This information is a Year 2000 readiness disclosure as defined in the
Federal Year 2000 Information and Readiness Disclosure Act. This press
release contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Reference is made to the
Corporation's filings on Forms 10-K and 10-Q with the Securities and Exchange
Commission for factors that could cause actual results to differ materially
from those anticipated, including without limitation adequate resolution of
Year 2000 issues by third-parties and the adequacy of contingency plans.
SOURCE Mellon Financial Corporation
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Related links:
http://www.mellon.com
Company News On-Call:
http://www.prnewswire.com/comp/552187.html or fax,
800-758-5804, ext. 552187
CONTACT:
Ron Gruendl of Mellon, 412-234-7157, or
gruendl.rr@mellon.com
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