SSgA Strengthens UK Active Equity Team with New Senior Portfolio Manager
London -- 02/11/2008

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 appointment of Christos Koutsoyannis to senior portfolio manager in its active European equity team. The team is responsible for managing SSgA's rapidly growing UK and European active equity strategies.

Koutsoyannis joins SSgA from Old Mutual, where he was deputy head of quantitative research with responsibility for coordinating research projects and managing portfolios as well as liaising with clients. In his new role, Koutsoyannis will undertake investment research alongside SSgA's Advanced Research Centre, and will also have responsibility for portfolio management. Based in London, he will report to Mark Webster, senior investment manager and head of the active equity team. Koutsoyannis has an economics degree from Trinity College, Cambridge; an M.Sc. in financial economics from Brunel University; and is currently working toward a Ph.D. in portfolio risk management from Birkbeck College.

"Christos is a very talented individual with a strong research background, specialising in portfolio construction and optimisation, and has had papers published in respected journals," said Webster. "He will add considerable intellectual strength and investment talent to our active equity team. We look forward to working with him."

SSgA has a strong track record managing active equity strategies using predominantly quantitative techniques. It employs sophisticated investment tools, experienced management talent and investment insight, together with advanced technology to identify, capture and utilize investment opportunities in equity markets.

The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results.

This news release may contain forward-looking statements, as defined by federal securities laws, including statements about the financial outlook and business environment. Any such statements are based on current expectations and involve a number of risks and uncertainties. Important factors, including those mentioned in this news release, that could cause actual results to differ materially are set forth in State Street Corporation's 2006 annual report and subsequent SEC filings. They include risks and uncertainties relating to the pace at which State Street Corporation ("State Street") adds new clients or at which existing clients use additional services, the value of global and regional financial markets, and the dynamics of the markets State Street serves. State Street encourages investors to review its annual report and SEC filings in conjunction with this announcement and prior to making any investment decision. The forward-looking statements contained in this news release speak only as of the date of release, February 11, 2008, and State Street does not undertake to revise those forward-looking statements to reflect events after the date of this release.

 
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