1. Mellon Bank Corporation ($ in millions) Total NPAs at year end Net credit losses Provision for credit losses End Res. For credit losses Year end net profit 1985 607 91 148 361 202 1986 1,078 196 316 494 183

2. Mellon Bank Corporation ($ in millions) Total NPAs at year end Net credit losses Provision for credit losses End Res. For credit losses Year end net profit 1985 607 91 148 361 202 1986 1,078 196 316 494 183 1987 1,649 421 1,056 1,130 (844)

3. GSNB Opening Balance Sheet Assets Loans $497 Acquired assets 143 $640 Liabilities & Equity A-1 notes $225 A-2 Notes 288 Shareholders Equity: Senior preferred 94 Junior preferred 3 Common 34 $640 ($ in millions)

4. Assets Purchased From Mellon ($ in millions) Commercial and industrial loans Real estate loans Total loans Real estate assets Energy properties Total assets Number 47 69* 116 73 2 191 Mellon Gross Amount $649 326 975 326 56 $1,357 GSNB Book Value 7/1/88 $288 209 497 127 15 $639 Book / Gross 44% 64 51 39 29 47% * Portfolio of 1,144 residential mortgages considered to be one asset

5. 33% 63% 4% Total = $209 million Housing units and land ($132) Commercial ($59) Hotel ($8) Real Estate Loans ($ in millions)

6. Real Estate Assets ($ in millions) 22% 47% Total = $127 million 1% Multi-Family ($2) Land ($28) Commercial ($59) 2% Hotel ($3) 28% Housing Units ($35)

7. ($ in millions) Forecasted Net Cash Flows A-1 Notes A-2 Notes Preferred and common 250 200 150 100 50 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ‘98 151 154 190 65 131 21 12 8 22 June 30 Fiscal Year

8. Characteristics of Notes Note overcollateralization Asset diversity Extensive asset reviews Experienced management team

9. Overview of Transaction GSNB – Newly chartered liquidating national bank Equity purchased by Mellon - $131 million Mellon will dividend GSNB common to shareholders Assets purchased from Mellon at fair market value with proceeds from notes and equity

10. Collection Services Corporation (Subsidiary of Mellon) Headed by R.H. Daniel - 35 years credit / workout experience - Security Pacific, Crocker, Mellon 46 key full-time asset managers - More than 250 years of bank credit experience

11. Mellon Bank Corporation ($ in millions) Total NPAs at year end Net credit losses Provision for credit losses End Res. For credit losses Year end net profit 1985 607 91 148 361 202 1986 1,078 196 316 494 183 1987 1,649 421 1,056 1,130 (844) 1988 964 542 321 909 (65)

12. Mellon Bank Corporation ($ in millions) Total NPAs at year end Net credit losses Provision for credit losses End Res. For credit losses Year end net profit 1985 607 91 148 361 202 1986 1,078 196 316 494 183 1987 1,649 421 1,056 1,130 (844) 1988 964 542 321 909 (65) 1989 696 598 297 610 210 1990 781 405 315 525 174

13. Mellon Bank Corporation ($ in millions) Total NPAs at year end Net credit losses Provision for credit losses End Res. For credit losses Year end net profit 1985 607 91 148 361 202 1986 1,078 196 316 494 183 1987 1,649 421 1,056 1,130 (844) 1988 964 542 321 909 (65) 1989 696 598 297 610 210 1990 781 405 315 525 174 1991 933 229 250 596 280 1992 595 277 185 506 437