Mellon Global Cash Management Expands Private-Label Offerings With Introduction of Wholetail Lockbox Service - Combines wholesale and retail paper payments in a single lockbox solution - PITTSBURGH, Aug. 3 /PRNewswire-FirstCall/ -- Mellon Global Cash Management (GCM) today announced the availability of wholetail lockbox services for the private-label clients it serves through Mellon Enterprise Cash Management, a premier provider of private-label cash management outsourcing solutions for financial institutions. Wholetail lockbox services, which unite the flexibility of wholesale lockbox processing with the convenience and speed of electronic remittance scanning found in retail lockbox processing, is available in all seven Mellon Enterprise lockbox sites -- Atlanta, Boston, Chicago, Dallas, Los Angeles, Philadelphia and Pittsburgh. Business customers receiving 5,000 or more payments per month, including a mixture of both scannable and nonscannable remittance documents, would most benefit from this new offering. The solution also is particularly well suited to business customers that receive single payments with multiple remittances, multiple checks with single remittances and/or payments that do not match the billed amounts. "Banks with customers in the health care, utility, insurance and telecommunications industries, are among the best candidates for our new wholetail lockbox solution," said Robert W. Stasik, executive vice president and head of Mellon GCM, a treasury services business of Mellon Financial Corporation. "The service may also provide an alternative for business customers that collect consumer and business payments, but do not meet the established volume thresholds required for traditional retail lockbox processing." Business customers also benefit from online access to check and remittance detail on processed retail transactions, along with check, remittance detail, correspondence and envelopes for processed wholesale transactions. The images are available either through EnternetBank, Mellon's private-label, Internet- based information reporting and transaction initiation service; a CD-ROM delivered daily, weekly or monthly; or by file transmission. Mellon GCM provides a full range of cash management outsourcing solutions to small, mid-sized and large financial institutions through its Enterprise business unit. Available services include wholesale and retail lockbox, controlled disbursement, positive pay, account reconciliation, data exchange, electronic cash management information reporting, wire transfer and ACH origination. Banks that private label/outsource cash management services can realize the benefits of significant fee-based revenues, while avoiding considerable capital investments. Mellon Global Cash Management, a payments industry leader synonymous with quality performance and known for its innovation and expertise, designs comprehensive solutions through its broad line of cash management services to meet the specialized treasury needs of corporations, nonprofit organizations and financial institutions. Recently, an independently-administered customer satisfaction survey revealed that Mellon GCM continues to distinguish itself from its competition in the areas of operating quality, commitment to cash management and customer service. In addition, Mellon GCM was one of only two providers to achieve an A+ average for product performance in the 2004 Phoenix-Hecht(R) Quality Index(TM) of 33 major cash management providers. Mellon GCM is the only electronic payments services provider in the U.S. to complete both a Level 3 Capability Maturity Model(R) (CMM(R)) assessment for its software engineering practices and achieve ISO 9001:2000 Registration. More information on Mellon GCM is available at http://www.mellon.com/gcm . Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, human resources and investor solutions, and treasury services. Mellon has approximately $3.6 trillion in assets under management, administration or custody, including more than $675 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at http://www.mellon.com/ . DATASOURCE: Mellon Financial Corporation CONTACT: Ron Gruendl of Mellon Financial Corporation, +1-412-234-7157, or Web site: http://www.mellon.com/ http://www.mellon.com/gcm

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