The Bank of New York Introduces Business Insured $weep(SM).

NEW YORK -- The Bank of New York has introduced Business Insured $weep(SM), a unique product that helps small businesses maximize their interest earning potential by automatically linking a business checking account with an FDIC insured money market account.

Through Business Insured $weep, customers get the ease and flexibility of a standard business checking account combined with the earning power and security of an FDIC insured money market vehicle. Business customers can write checks, make deposits, stop payments, and execute wire transfers. Any excess funds above the target balance in the checking account will be automatically swept into an FDIC insured money market account on a daily basis. When funds are needed to cover withdrawals, checks, debit card transactions or other debits, funds are automatically transferred from the money market account to the checking account. Business Insured $weep includes 300 transaction items per month and carries up to $300,000 FDIC insurance.

The money market component of Business Insured $weep, Reserve Insured Deposits(R), is being offered through The Reserve Funds, founder of the world's first money market fund.

Lawrence Grech, senior vice president and Head of The Bank of New York's Retail Product Strategy and Delivery Group, said, "The Bank of New York offers our clients a broad array of products and services designed to help them meet their business objectives. With Business Insured $weep, small business clients have full check writing capabilities, the safety of FDIC insurance and an economical way to maximize their interest earning potential."

Jeff Cominsky, vice president at The Reserve Funds, said, "We are pleased that we are able to help The Bank of New York address their clients' need for a safe, secure and convenient investment option by making Reserve Insured Deposits(R) available through Business Insured $weep."

Business Insured $weep is also available as part of Business Value Banking(SM), The Bank of New York's relationship product that combines business and personal checking accounts with a suite of additional services, including online banking with bill pay, debit card, discounts on merchant and payroll services, and preferred pricing on lending and leasing.

Through its network of 341 branches and 64 business and professional financial centers in the New York metropolitan area, The Bank of New York offers traditional banking, financial planning, and insurance products to over 700,000 households and businesses through internet, telephone, ATM and branch banking. The Bank's suite of small business products includes checking and saving accounts, investment products, lending and financing, employee and business owner services.

The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.