January 25, 2011

BNY Mellon Appointed as Corporate Trustee for Korean Airlines JPY40 billion ABS Note


Asia expected to lead global financing markets revival in 2011

HONG KONG, 25 January 2011 — BNY Mellon, the global leader in asset management and securities servicing, has been appointed to provide corporate trust services for Korean Airlines Co., Ltd's ("KAL") JPY 40 billion asset-backed securitization ("ABS") Note - the largest Asian ABS deal in 2010. In addition to providing account bank services, BNY Mellon acts as Note Trustee, Principal Paying Agent, Reference Agent, Note Registrar, Principal Transfer Agent, Irish Stock Exchange Listing & Paying Agent under English law; Japanese Trustee under Japan law, and Transaction Administrator, Security Agent, and Bond Issuer Servicer under Korean law.

The KAL ABS Note is backed by future receivables, which are the proceeds of passenger tickets bookings of KAL flights between Japan and Korea sold in Japan, excluding any on-line booking revenue.

"Asia is leading the way in the financial markets revival," said Gary Lew, Head of Corporate Trust for Asia (ex-Japan), BNY Mellon. "This sort of multiple jurisdiction deal is an interesting approach to how we predicted domestic corporations would diversify funding. Issuers and investor interaction like this is a healthy formula for growth in the Asia-Pacific region, and we are well-placed to serve on these complex transactions as they emerge."

BNY Mellon's corporate trust business services nearly $12 trillion in outstanding debt from 58 locations in 20 countries. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.

Corporate trust providers are appointed by debt issuers as well as fund and collateral management institutions to perform a variety of services related to debt and collateral administration, safekeeping, direct cash and investment management, portfolio and transparency analytics, reporting, and final asset disposition and distribution activities.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com.