PNC Financial Services (PNC)

PFPC

PFPC earned $30 million for the first three months of 2008 compared with $31 million in the year-earlier period. While servicing revenue growth of 14% was realized through new business, organic growth, and the completion of two acquisitions in December 2007, increased costs related to this growth and the acquisitions offset the increase.

PFPC

PFPC earned $30 million for the first quarter of 2008 compared with $31 million and $32 million for the first and fourth quarters of 2007, respectively.

Revenue growth was driven by new business, acquisitions and organic growth somewhat offset by equity market depreciation. Servicing revenue increased $30 million, or 14 percent, from the first quarter of 2007 and $15 million, or 7 percent, from the linked quarter. These increases resulted primarily from fee income growth in offshore operations and from the acquisitions of Albridge Solutions Inc. and Coates Analytics, LP in December 2007. Operating expense increased $28 million, or 18 percent, from the year ago quarter and $14 million, or 8 percent, from the linked quarter as a result of investments in technology, a larger employee base to support business growth and costs related to the acquisitions. Income taxes increased in the first quarter of 2008 due to state tax adjustments in both prior quarters of comparison.

PFPC provided accounting/administration services for $1.0 trillion of net fund assets and provided custody services for $476 billion of fund assets as of March 31, 2008 compared with $822 billion and $435 billion, respectively, on March 31, 2007 and $990 billion and $500 billion, respectively, at December 31, 2007. Total fund assets serviced by PFPC were $2.6 trillion at March 31, 2008 compared with asset servicing levels of $2.2 trillion at March 31, 2007 and $2.5 trillion at December 31, 2007.

- more -

PNC Reports First Quarter Net Income of $377 Million and $1.09 Diluted EPS – Page 8

PFPC

PFPC earned $128 million for 2007 compared with $124 million in 2006. Results for 2006 benefited from the impact of a $14 million reversal of deferred taxes related to earnings from foreign subsidiaries following management’s determination that the earnings would be indefinitely reinvested outside of the United States. Apart from the impact of this item, the earnings increase of $18 million in 2007 reflected the successful conversion of net new business, organic growth and market appreciation.

PFPC

PFPC earned $128 million in 2007 compared with $124 million in 2006. Results for 2006 benefited from the impact of a $14 million reversal of deferred taxes related to earnings of a foreign subsidiary. Higher servicing revenue in 2007 was driven by market appreciation, new business and organic growth while operating expense increased to support this business growth.

PFPC earned $32 million for the fourth quarter of 2007 compared with $31 million in the year-earlier period and $33 million in the linked quarter. Servicing revenue increased $20 million, or 10 percent, from the fourth quarter of 2006 and $7 million, or 3 percent, from the linked quarter. These increases were fueled by strong fee income growth in offshore operations as well as the impact of the December 2007 acquisitions of Albridge Solutions Inc. and Coates Analytics, LP. Operating expense increased $21 million, or 14 percent, from the year ago quarter and $8 million, or 5 percent, from the linked quarter reflecting higher headcount and technology costs to support additional business as well as costs related to the acquisitions.

PFPC provided accounting/administration services for $990 billion of net fund assets and provided custody services for $500 billion of fund assets as of December 31, 2007 compared with $837 billion and $427 billion, respectively, on December 31, 2006 and $922 billion and $497 billion, respectively, at September 30, 2007. Total fund assets serviced by PFPC were $2.5 trillion at December 31, 2007 compared with asset servicing levels of $2.2 trillion at December 31, 2006 and $2.5 trillion at September 30, 2007.

PFPC

PFPC earned $96 million for the first nine months of 2007 compared with $93 million in the year-earlier period. Earnings for the 2006 period benefited from the impact of a $14 million reversal of deferred taxes related to earnings from foreign subsidiaries following management’s determination that the earnings would be indefinitely reinvested outside of the United States. Higher earnings in the first nine months of 2007 reflected the successful conversion of net new business, organic growth and market appreciation.

Earnings from PFPC totaled $33 million in the third quarter of 2007 compared with $40 million in the prior year third quarter. The prior year quarter results included the impact of the tax benefit described above. A $20 million, or 10%, increase in servicing revenue compared with the third quarter of 2006 was fueled by strong fee income growth in transfer agency, offshore operations, managed accounts, advanced output solutions and alternative investments.

PFPC

PFPC earned $33 million for the third quarter of 2007 compared with $40 million in the year-earlier period and $32 million in the linked quarter. The prior year quarter results included a $13.5 million benefit from the reversal of deferred taxes related to foreign subsidiary earnings. The increase in earnings compared with the linked quarter reflects the conversion of two new client services during the second quarter of 2007, growth from existing clients, and market appreciation. Servicing revenue increased $20 million, or 10 percent, from the third quarter of 2006 and was fueled by strong fee income growth in transfer agency, offshore operations, managed accounts, advanced output solutions and alternative investments.

PFPC provided accounting/administration services for $922 billion of net fund assets and provided custody services for $497 billion of fund assets as of September 30, 2007 compared with $774 billion and $399 billion, respectively, on September 30, 2006 and $868 billion and $467 billion, respectively, at June 30, 2007. Total fund assets serviced by PFPC were $2.5 trillion at September 30, 2007 compared with asset servicing levels of $2.0 trillion at September 30, 2006 and $2.4 trillion at June 30, 2007.

PFPC

PFPC earned $63 million for the first six months of 2007 compared with $53 million in the year-earlier period. The 19% earnings increase from the first half of 2006 reflected new business, organic growth and market appreciation, partly offset by client deconversions.

PFPC

PFPC earned $32 million for the second quarter of 2007 compared with $26 million in the year-earlier period and $31 million in the linked quarter. The earnings increase compared with the second quarter of 2006 and the linked quarter reflects the successful conversion of two new client services during the quarter, growth from existing clients, market appreciation and an improved operating margin. A $20 million, or 10 percent, increase in servicing revenue from the second quarter of 2006 was fueled by strong fee income growth in transfer agency, managed accounts, alternative investments, and offshore operations.

PFPC provided accounting/administration services for $868 billion of net fund assets and provided custody services for $467 billion of fund assets as of June 30, 2007, compared with $743 billion and $389 billion, respectively, on June 30, 2006 and $822 billion and $435 billion, respectively, at March 31, 2007. Total fund assets serviced by PFPC were $2.4 trillion at June 30, 2007, compared with asset servicing levels of $1.9 trillion at June 30, 2006 and $2.2 trillion at March 31, 2007.

- more -

PNC Reports Second Quarter Net Income of $423 Million and EPS of $1.22 – Page 6

PFPC

PFPC earned $31 million for the first quarter of 2007 compared with $27 million in the year-earlier period. The 15% earnings increase from the first quarter of 2006 reflected new business, organic growth and market appreciation, partly offset by client deconversions. Certain tax benefits also contributed to the increase in earnings compared with the first three months of 2006.

PFPC

PFPC earned $31 million for the first quarter of 2007, compared with $27 million in the year-earlier period and $31 million in the linked quarter. The earnings increase from the first quarter of 2006 reflected new business, organic growth and market appreciation, partly offset by client deconversions. Certain tax benefits also contributed to the increase in earnings compared with the first quarter of 2006.

PFPC provided accounting/administration services for $822 billion of net fund assets and provided custody services for $435 billion of fund assets as of March 31, 2007, compared with $750 billion and $383 billion, respectively, on March 31, 2006 and $837 billion and $427 billion, respectively, at December 31, 2006. Total fund assets serviced by PFPC were $2.2 trillion at March 31, 2007, compared with asset servicing levels of $1.9 trillion at March 31, 2006 and $2.2 trillion at December 31, 2006.

PFPC

PFPC’s earnings of $124 million in 2006 increased $20 million, or 19%, compared with $104 million in 2005. Earnings for 2006 included the impact of a $14 million reversal of deferred taxes related to earnings from a foreign subsidiary following management’s determination that the earnings would be indefinitely reinvested outside of the United States. Earnings for 2005 included the after-tax impact of a one-time termination fee of $6 million and a prepayment penalty of $5 million, along with $4 million of various tax benefits. Higher earnings in 2006 reflected servicing revenue contributions from several growth areas of the business and the successful implementation of expense control initiatives.

PFPC

PFPC earned $124 million in 2006, compared with $104 million in 2005. The increase resulted from the benefit of a deferred tax reversal of $14 million in the third quarter, increased servicing revenue and disciplined expense control.

The business earned $31 million for the quarter, compared with $29 million in the year-earlier period and $40 million in the linked quarter. The earnings decrease from the third quarter of 2006 reflected the tax benefit in the earlier period.

PFPC provided accounting/administration services for $837 billion of net fund assets and provided custody services for $427 billion of fund assets as of December 31, 2006, compared with $835 billion and $476 billion, respectively, on December 31, 2005 and $774 billion and $399 billion, respectively, at September 30, 2006. Total fund assets serviced by PFPC were $2.2 trillion at December 31, 2006, which represented an increase over the asset servicing levels of $1.9 trillion at December 31, 2005 and $2.0 trillion at September 30, 2006.

- more -

PNC 2006 Diluted EPS of $8.73 Sets All-Time Record – Page 6

PFPC

PFPC’s earnings of $93 million in the first nine months of 2006 increased $18 million, or 24%, compared with the first nine months of 2005. Earnings for the 2006 period included the impact of a $14 million reversal of deferred taxes related to earnings from foreign subsidiaries following management’s determination that the earnings would be indefinitely reinvested outside of the United States. In addition, higher earnings in the first nine months of 2006 reflected servicing revenue contributions from several growth areas of the business and the successful implementation of expense control initiatives which improved the company’s operating margin. Earnings for the first nine months of 2005 included a $3 million tax benefit identified as part of the One PNC initiative.

PFPC earned $40 million in the third quarter of 2006 compared with $28 million in the third quarter of 2005. The earnings increase from the third quarter of 2005 resulted from the $14 million reversal of deferred taxes referred to above.

PFPC

PFPC earned $40 million for the quarter, compared with $28 million in the year-earlier period and $26 million in the linked quarter. The earnings increases from the third quarter of 2005 and the second quarter of 2006 were the result of a $14 million reversal of deferred taxes related to earnings from foreign subsidiaries. The reversal resulted from a management decision to permanently reinvest earnings of the subsidiaries in foreign countries. Third quarter 2005 earnings included a $3 million tax benefit identified as part of the One PNC initiative. This business is investing in high growth areas, including managed accounts services and offshore servicing.

PFPC provided accounting/administration services for $774 billion of net fund assets and provided custody services for $399 billion of fund assets as of September 30, 2006, compared with $793 billion and $475 billion respectively on September 30, 2005 and $743 billion and $389 billion respectively at June 30, 2006. Total fund assets serviced by PFPC were $2.0 trillion at September 30, 2006, which represented an increase over the asset servicing levels of $1.8 trillion at September 30, 2005 and $1.9 trillion at June 30, 2006.

PFPC

PFPC’s earnings of $53 million in the first six months of 2006 increased $6 million, or 13%, compared with the first six months of 2005. Higher earnings in the first half of 2006 reflected servicing revenue contributions from several growth areas of the business and the successful implementation of expense control initiatives which improved the company’s operating margin.

PFPC earned $26 million in the second quarter of 2006 compared with $24 million in the second quarter of 2005. The earnings increase from the second quarter of 2005 was a result of continued emphasis on cost reductions and process efficiencies as competitive factors impacted revenue growth.

PFPC

PFPC earned $26 million for the quarter, compared with $24 million in the year-earlier period and $27 million in the linked quarter. The earnings increase from the second quarter of 2005 was a result of continued emphasis on cost reductions and process efficiencies as competitive factors impacted revenue growth. Second quarter 2006 earnings decreased compared with the first quarter of 2006 due to the impact of fee concessions made earlier in the year and a client deconversion, which were only partially offset by increases in existing client business and expense reductions.

PFPC provided accounting/administration services for $743 billion of net fund assets and provided custody services for $389 billion of fund assets as of June 30, 2006, compared with $766 billion and $462 billion respectively on June 30, 2005 and $750 billion and $383 billion respectively at March 31, 2006. Total fund assets serviced by PFPC were $1.9 trillion at June 30, 2006, which was consistent with the level at both June 30, 2005 and March 31, 2006.

PFPC

PFPC’s earnings increased $4 million, or 17%, to $27 million in the first quarter of 2006 compared with the prior year first quarter. Higher earnings in the 2006 quarter reflected strong revenue contributions from several areas of the business and disciplined expense control.

PFPC’s accounting/administration net fund assets increased $5 billion, to $750 billion, and custody fund assets decreased $79 billion, or 17%, as of March 31, 2006 compared with the balances at March 31, 2005. The decrease in custody fund assets resulted primarily from the deconversion of a major client during the first quarter of 2006 which was partially offset by new business, asset inflows from existing customers and equity market appreciation.