BOSTON, MA -- 10/01/2007

State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that its hedge fund administration company, International Fund Services (IFS), achieved top rankings for the fourth consecutive year in Global Custodian magazine's annual Hedge Fund Administration Survey. The 2007 survey rated 20 service providers, the highest number ever.

IFS ranked first among managers with more than $1 billion, and achieved recognition as one of the top service providers in the Overall and Single Strategy categories.  According to Global Custodian, “IFS maintains its impressive record in this survey.”

“As the hedge fund industry grows ever more complex, having the right technology and expertise in place is key to a successful servicing relationship,” said Gary Enos, executive vice president and head of hedge fund services for State Street.   “These survey results confirm that our ongoing focus on customer service remains paramount.”

State Street provides a complete set of servicing and management solutions for hedge funds including recordkeeping, fund accounting, valuation, risk management and regulatory reporting.

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, October 1, 2007, and State Street does not undertake to revise those forward-looking statements to reflect events after the date of this release.