This award significantly expands the scope of the services that Mellon will provide to Provident.

Mellon has served as a custodian for Provident's commingled funds since 1997. The outsourcing of the institutional back office for Provident will include trade processing, securities clearance and settlements, valuation, client billing, client statements, cash management support services, and performance and analytics measurement. Mellon will support Provident's institutional business from its Los Angeles service center.

"Mellon's back-office expertise will enable Provident to continue to focus its full attention and resources on the investment needs of our institutional clients," said Aaron W. Eubanks, managing director, chief operations officer and chief compliance officer of Provident Investment Counsel, Inc. "By using Mellon's scaleable technology platform for our back-office needs, we expect to grow our business in a cost-efficient manner."

"Provident's decision to significantly expand the services that it obtains from Mellon is a great vote of confidence," said Jack Klinck, vice chairman of Mellon Financial Corporation and president of Mellon's Investment Manager Solutions group. "Our investments in technology are enabling us to provide increasing capabilities and enhanced service to our clients."

Mellon's Asset Servicing group develops solution-oriented tools to support the entire investment process for public and private pension funds, endowments & foundations, asset managers, mutual funds, insurance and other financial institutions. Mellon Global Securities Services, Mellon's Investment Manager Solutions, Eagle Investment Systems, DPM Mellon, Mellon Analytical Solutions, as well as its joint venture partnerships - ABN AMRO Mellon and CIBC Mellon - deliver innovative products worldwide.