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MELLON BANK CORPORATION ANNOUNCES NEW CORPORATE IDENTITY FOR COMBINED TRUST AND INVESTMENT BUSINESSES OF MELLON AND THE BOSTON COMPANY

 PITTSBURGH and BOSTON, Nov. 4 /PRNewswire/ -- "Mellon Trust" has been selected as the name for the combined trust and investment business of Mellon Bank and The Boston Company, keying an identity strategy that uses the Mellon, The Boston Company, and Boston Safe Deposit and Trust (Boston Safe) names under the Mellon Trust banner.
 The new identity was developed as a result of Mellon's May 1993 acquisition of The Boston Company. With approximately $700 billion in assets under administration, Mellon Trust is a leader in the trust and investment business, holding top-five market positions in global trust and custody, private trust and asset management, institutional asset management, and mutual fund administration.
 "As Mellon and The Boston Company have progressed toward becoming a single, integrated trust and investment organization, a key focus has been to determine how the combined business will be known in the marketplace," said W. Keith Smith, vice chairman of Mellon Bank Corporation (NYSE: MEL) and chairman and chief executive officer of The Boston Company. "The name 'Mellon Trust' captures succinctly the essence of the combined enterprise."
 Smith indicated that while "Mellon Trust" will be the umbrella identity under which the businesses of the combined organization will operate, The Boston Company and Boston Safe names also figure prominently in the identity strategy.
 In addition to serving as the umbrella name for the combined organization, Mellon Trust will be the name under which the corporation will market its Master Trust, custody, defined contribution (401(k)), and other institutional trust products. The corporation's securities transfer and trusteeship businesses also will use the Mellon Trust name.
 The corporation's private trust and asset management activities, including The Boston Company's jumbo mortgages, will use the name Mellon Private Asset Management. Mellon Private Asset Management also serves as the umbrella name under which Mellon Private Capital Management, specializing in financial management for wealthy families, will be grouped. The Boston Safe name will continue to be used for this business in the Boston area, along with Mellon Private Asset Management.
 In institutional asset management, the corporation will use the name Mellon Global Asset Management, as both the umbrella name for institutional asset management and the name under which the Mellon institutional asset management business will operate; and The Boston Company Asset Management, as the name under which the institutional investment management business of The Boston Company will operate.
 In mutual fund administration, the corporation will continue to use the name The Boston Company Investor Services.
 In addition to the specific applications listed above, The Boston Company and Boston Safe names will continue in use in the Boston area.
 "We wanted to create a single identity that reflects the strength and unity of our combined businesses, and we wanted to preserve the identities--and the heritage--that each of our companies enjoys," said Sandra J. McLaughlin, senior vice president of corporate affairs for Mellon Bank Corporation. "Our new identity strategy meets both objectives and is consistent with our overall approach to this merger -- bringing together the best attributes of both organizations."
 "It was important for us to create a single brand name for the combined businesses," Smith added. "Of all the names we tested, Mellon Trust met our criteria uniquely well."
 Mellon Bank acquired The Boston Company from Shearson Lehman Brothers on May 21, 1993, for $1.4 billion.
 "Mellon Trust" is a service mark of Mellon Bank Corporation; it is not a legal entity.
 With assets of approximately $35 billion, Mellon Bank Corporation is a major superregional bank holding company. Through its subsidiaries, it provides wholesale, middle market and retail banking, as well as numerous fee-based service products, including trust and investment, cash management and mortgage banking.
 /delval/
 -0- 11/4/93
 /CONTACT: Thomas W. Butch of Mellon Bank, 412-234-6436, or F. Gregory Ahern of The Boston Company, 617-722-3550/
 (MEL)


CO: Mellon Bank Corporation; Mellon Bank; The Boston Company;
 Boston Safe Deposit and Trust ST: Pennsylvania, Massachusetts IN: FIN SU:


KC -- PG015 -- 0752 11/04/93 13:05 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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