Frankfurt and Munich -- 02/12/2008

New office opening reflects commitment to German market and expanding client base

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT) and the largest institutional fund manager in the world, today announced the opening of new offices in Frankfurt complementing its representative office in Munich. The new premises are located in the Skyper office building in Frankfurt's financial district. Axel Riedel, SSgA's director of sales, has been appointed to head the Frankfurt office.

"As one of the leading asset managers, we are very pleased to provide our customers with an expanded physical presence and more direct access to our outstanding team of experts," said Klaus Esswein, managing director of State Street Global Advisors in Germany. "The opening of our Frankfurt branch is a major step in the development of our activities in the German market and in the consolidation of our client relationships."

SSgA is the largest institutional fund manager in the world. For 30 years the company has had quantitative investment strategies. In addition to its leading position in index management, SSgA has also further developed its strengths in other areas such as active management. Through its Munich offices, SSgA has been serving institutional investors in Germany and Austria since 1998.

Mr. Riedel remarked: "Over the past few years, the public funds sector has become increasingly important to SSgA. With our new Frankfurt presence, we are dedicated to the importance of our growing client base of umbrella fund managers, financial institutions and intermediaries in the Frankfurt financial marketplace."

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