The Bank of New York Company, Inc. Announces Third Quarter 2005 Earnings

NEW YORK--The Bank of New York Company, Inc. will release its third quarter 2005 earnings results on Thursday, October 20, 2005, before trading begins on the New York Stock Exchange. The earnings release will also be available on the Company's website at www.bankofny.com/earnings.

Thomas A. Renyi, chairman and chief executive officer, and Bruce W. Van Saun, senior executive vice president and chief financial officer, will review the quarterly results in a live conference call and audio webcast on October 20, 2005, at 8:00 a.m. ET. The presentation will include information about the Company's businesses and recent financial performance and may include forward-looking statements. It will be accessible from the Company's website at www.bankofny.com/earnings and also by telephone at (888) 677-2456 within the United States or (517) 623-4161 internationally. The passcode is "The Bank of New York." A recorded replay of the presentation will be available on the Company's website and by telephone at (800) 945-7247 within the United States or (203) 369-3951 internationally, after the presentation's conclusion.

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.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.