BOSTON, June 11 /PRNewswire/ --

Eagle Investment Systems LLC, a leading provider of financial services technology and a subsidiary of The Bank of New York Mellon, today announced that Ark Asset Management Co., Inc. (Ark), a leading investment management firm in the institutional marketplace, will transition its installation of the Eagle investment management suite, which is currently managed in-house, to the Eagle ACCESS application service provider.

In 2003, Ark implemented Eagle's data management, accounting, and performance solutions to leverage the advanced functionality, flexibility and scalability they provided. Since then, Ark has incrementally shifted its technology strategy from internally managing its middle- and back-office systems to a total outsource model. The migration to Eagle ACCESS will be the final step in the process. Once completed, it will allow the firm to focus on growing its asset management business, improving its IT infrastructure and reducing its number of committed resources.

"When we began our relationship with Eagle years ago, our initial goal was to acquire a data management, performance and investment accounting system that offered flexibility, ease-of-use and scalability, and Eagle's solutions have certainly met this need," said Gillian Plastaras, chief administrative officer of Ark Asset Management Co., Inc. "As our firm has evolved, we have shifted our focus to leveraging Eagle's robust solutions to our maximum benefit, without the costs and need for additional resources dedicated to managing and maintaining an in-house platform."

Since 2004, Ark has outsourced all of its IT and middle- and back-office operations to iX Partners, including Ark's technology-related staffing, vendor management and service delivery requirements. iX Partners will continue managing the remaining in-house technology and will interface directly with Eagle ACCESS on Ark's behalf.

"For a few years now, Ark has been using hosted and outsourced solutions to run its IT and investment operations," said Paul Cucurullo, managing partner of iX Partners. "This is Ark's next step in the direction of moving all systems off site to allow its business leaders to focus on core business competencies. As a strategic partner of Ark's we will use our Eagle and investment management operations expertise to leverage Eagle ACCESS' outstanding capabilities and to continue in our strategic and tactical role with Ark."

"In today's economic state, we have noticed a trend where many firms like Ark want to concentrate on core business needs and allow service providers to manage the scheduled upgrades, disaster recovery, and other technology requirements," said John Lehner, president of Eagle. "By leveraging the Eagle ACCESS model, Ark will be able to reduce its infrastructure overhead and repurpose those resources toward expanding its business and servicing investors."

About Ark Asset Management Co., Inc.

Ark Asset Management Co., Inc. ("Ark") manages US equity and US fixed income assets for institutional clients, including sub-advisory relationships for pooled vehicles. The firm has substantial experience managing portfolios in all types of market environments and is committed to delivering quality investment management and service to our clients. Ark offers six primary investment strategies; each adheres to an established investment process and is aligned to a particular index. Ark is an independent, employee-owned investment adviser. For more information about Ark, please contact Lynda Leslie, Director of Client Services at lleslie@the-ark.com.

About iX Partners, Ltd.

iX Partners is a leading provider of middle and back office services and solutions to the global asset management and financial services communities. They are led by industry professionals with several decades of extensive experience managing and servicing the investment operations and technology functions of asset management and other financial firms. Through its support of critical service areas, the iX team has developed the in-depth understanding of transactions and positions processing, management, and reporting that are the cornerstone of effective investment decision support. iX Partners clients include leading asset managers, investment banks, ratings agencies, and financial information providers for whom we have provided both large-and small-scale solutions. Please visit the iX Partners website, www.ixpartners.com , for additional information.

About Eagle Investment Systems

Eagle Investment Systems LLC is a global provider of financial services technology, serving the world's leading financial institutions. Eagle's Web-based systems support the complex requirements of firms of any size including institutional investment managers, mutual funds, hedge funds, brokers, public funds, plan sponsors and insurance companies. Eagle is committed to providing enterprise-wide, leading-edge technology and professional services for investment accounting, data management, performance measurement and information delivery. Eagle's product suite is offered as an installed application or can be hosted via Eagle ACCESS, Eagle's application service provider. To learn more about Eagle's solutions, contact sales@eagleinvsys.com or visit www.eagleinvsys.com .

About The Bank of New York Mellon

The Bank of New York Mellon Corporation (NYSE: BK) is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company 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 more than US$23 trillion in assets under custody and administration, more than US$1.1 trillion in assets under management and services US$12 trillion in outstanding debt. Additional information is available at bnymellon.com.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through The Bank of New York, Mellon Bank, N.A. and other related companies.

Web site: http://www.eagleinvsys.com http://www.ixpartners.com http://www.bnymellon.com

Kendra Ahern of Eagle Investment Systems LLC, +1-617-219-0209, kahern@eagleinvsys.com