BNY Mellon Appointed as Depositary Bank by IBS Group

NEW YORK, Nov. 15, 2010 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been appointed by IBS Group (IBS) as the depositary bank for its  global depositary receipt (GDR) program.  Each IBS DR represents one ordinary share and trades on the Regulated Market of the Frankfurt Stock Exchange under the symbol "IBSG."  Formerly, IBS depositary receipts were included for trading in the Open Market of the Frankfurt Stock Exchange (FSE). The IBS GDRs and equity shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S., absent registration or an applicable exemption from the registration requirements.

IBS is an information technology and consulting services company based in Russia, incorporated in Isle of Man, with business operations in Russia, the CIS, Europe, United States, Canada and Vietnam.  The IBS Group operates three business segments: IT services (IBS IT Services), software development (Luxoft), and online software delivery (Softkey).  The company has approximately 6,000 employees.  

"Listing on the Regulated Market of the FSE is an important step for IBS, but also paves the way for other Russian companies in Germany," said Anatoly Karachinsky, IBS president and chief executive officer.  "Today's listing underlines our commitment to high standards of investor relations best practice, while also improving the accessibility of our GDRs to investors.  We believe IBS offers investors an attractive opportunity to gain exposure to the Russian technology sector."

"We believe IBS' decision to be the first to list depositary receipts on the FSE's Regulated Market is well-timed and will bring the company enhanced exposure," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business.  "Their decision also further demonstrates the significant role depositary receipts are playing in the global marketplace."

BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.

BNY Mellon (NYSE: BK) 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 $24.4 trillion in assets under custody and administration and $1.14 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. Learn more at www.bnymellon.com.

This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.

SOURCE BNY Mellon

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