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THE BANK OF NEW YORK SELECTED BY THE CITY OF MOBILE POLICE AND FIREFIGHTERS PENSION AND RELIEF FUND AS MASTER CUSTODIAN

 NEW YORK, April 1 /PRNewswire/ -- The Bank of New York (NYSE: BK) announced today that the City of Mobile, Ala., Police and Firefighters Pension and Relief Fund has selected the Bank as its Master Custodian. The fund's assets are valued at approximately $35 million.
 Mary H. Stubbs, the pension coordinator for the fund, commented, "Our fund is expected to grow rapidly, not only in value, but also in the variety of investment vehicles we use. Consequently, we and our consultant, The Hannah Group, feel we could benefit from the array of services provided by a top tier master custodian such as The Bank of New York. They can give us what we are looking for at an attractive price."
 Thomas J. Perna, executive vice president and head of the bank's Securities Processing Sector, said, "This is the second appointment we have won in the State of Alabama. We are extremely pleased that the word has gotten out about The Bank of New York and the unsurpassed level of service we provide."
 The Bank of New York is the principal subsidiary of The Bank of New York Company, Inc., which is the 17th largest bank holding company in the United States. The company provides a complete range of banking and other financial services to corporations and individuals worldwide through its five basic businesses: Corporate Banking, Retail Banking, Securities Processing, Trust and Investment Management, and Financial Market Services. The company's stock is traded on the New York Stock Exchange under the symbol BK.
 -0- 4/1/93
 /CONTACT: Michael M. Pascale, VP, 212-495-1041, or divisional contact: Michael Borkan, VP, 212-635-1709, both of Bank of New York/
 (BK)


CO: The Bank of New York Company, Inc. ST: New York, Alabama IN: FIN SU:

KD -- NY092 -- 2127 04/01/93 14:54 EST
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Publication:PR Newswire
Date:Apr 1, 1993
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