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THE BANK OF NEW YORK SELECTED BY LOUISIANA STATE EMPLOYEES' RETIREMENT SYSTEM AS GLOBAL CUSTODIAN

THE BANK OF NEW YORK SELECTED BY LOUISIANA STATE EMPLOYEES' RETIREMENT
 SYSTEM AS GLOBAL CUSTODIAN
 NEW YORK, July 7 /PRNewswire/ -- The Bank of New York announced today that the Louisiana State Employees' Retirement System has selected the bank as its Global Custodian for its non-U.S. assets, which are valued at approximately $500 million. The U.S. assets, comprising $1.2 billion, have been held in custody at the bank since 1985.
 Thomas D. Burbank, J.R., executive director of the system, said, "Given our decision to make a long-term commitment to international investing, we felt quite comfortable in employing The Bank of New York as our Global Custodian."
 Thomas J. Perna, executive vice president and head of the bank's securities processing sector, said, "The rigorous standards demanded by the Louisiana System demonstrated our ability to deliver the best product for the most value. The Louisiana State Employees' Retirement System was confident in our commitment to worldwide securities servicing and impressed by our superior systems and top-notch personnel. The participants in the system will benefit from the superior service they will receive from The Bank of New York."
 The Bank of New York was founded in 1784 by Alexander Hamilton and is the nation's oldest bank operating under its original name. It is the principal subsidiary of The Bank of New York Company, Inc. (NYSE: BK), which is the seventeenth largest commercial bank holding company in the United States, with total assets of $40.1 billion at March 31, 1992. 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.
 -0- 07/07/92
 CONTACT: (public relations) Michael M. Pascale, VP, 212-495-1041, or Margaret Southerland, AVP, 212-495-1725; or (divisional) Michael Borkan, VP, 212-635-1709, all of the Bank of New York
 (BK) CO: BANK OF NEW YORK; LOUISIANA STATE EMPLOYEES'
 RETIREMENT SYSTEM


IN: FIN ST: NY,LA -- NY065 -- X818 07/07/92
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Publication:PR Newswire
Date:Jul 7, 1992
Words:337
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