The Bank of New York and KPM Technologies, Inc. Launch Endowment Solutions Joint Marketing Alliance

NEW YORK, N.Y., May 19, 2005 - The Bank of New York and KPM Technologies, Inc. have formed a marketing alliance to meet the specialized accounting and reporting needs of nonprofit organizations.

Through the alliance, The Bank of New York will become KPM Technologies' preferred custodial provider and the Bank will refer the KPM software solution to its nonprofit clients nationwide. The software, "Endowment Manager 2005^TM" integrates donations and investment performance and also solves the accounting issues associated with the management of all endowment-like funds.

The alliance will help address nonprofit organizations' growing need to automate the administration of their endowment and related funds. Endowment Manager 2005^TM helps to maximize endowment investment performance as well as manage expenditures and compliance requirements. It integrates data from existing accounting systems, as well as data from custodians or investment management firms.

"The Bank of New York recognizes the specific requirements for tracking and reporting on donor endowments and has established this alliance as a way to provide a direct link to the growing number of clients who can benefit from a comprehensive software solution," said Patrick E. Curtin, executive vice president at The Bank of New York.

"Endowment Manager 2005^TM is a specialized, fully auditable subsidiary ledger system, uniquely designed for managing information related to endowment clients. It provides a revolutionary information management tool designed to help a nonprofit organization and its entire endowment management team to maximize their endowment and other restricted funds," noted Kemper Mazzarelli, president of KPM Technologies, Inc.

About The Bank of New York

The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.

About KPM Technologies, Inc.

Endowment Solutions is a subsidiary of KPM Technologies, Inc., an established financial services software provider. Endowment Solutions focuses on providing software and services for the nonprofit community, including colleges and universities, private schools, arts organizations, community foundations, social service agencies, healthcare organizations, and other types of charities and cultural institutions, to maximize their organization's endowment. Additional information is available at www.endowmentsolutions.com.