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THE BANK OF NEW YORK SELECTED BY GATES CORPORATION AS TRUSTEE

 NEW YORK, Dec. 29 /PRNewswire/ -- The Bank of New York (NYSE: BK) announced today that the Gates Corporation of Denver has selected the Bank as Trustee for its Retirement Plan. The plan's assets are valued at approximately $286 million. Marlin J. Dorhout, manager of Defined Benefit Plans at Gates, said, "We selected The Bank of New York based on their commitment to meeting our needs through any necessary customization. This commitment was a consistent theme throughout the organization. We were also impressed with their Securities Lending capabilities."
 Thomas J. Perna, executive vice president and head of the Bank's Securities Processing Sector, commented, "We are widely recognized as one of the largest and most efficient securities services providers in the world, but it is our dedication to individual client service that most impresses our potential and current customers. We have repeatedly won praise for our willingness to go the extra mile for our clients."
 The Bank of New York is the principal subsidiary of The Bank of New York Company, Inc., which is the 15th 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- 12/29/92
 /CONTACT: Michael M. Pascale, vice president, 212-495-1041, or (divisional) Michael Borkan, vice president, 212-635-1709, both of the Bank of New York Company, Inc./
 (BK)


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

TS -- NY028 -- 0381 12/29/92 15:24 EST
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Publication:PR Newswire
Date:Dec 29, 1992
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