HONG KONG -- 03/06/2008

State Street Recognized for Excellence in Investment Management, Securities Lending and Corporate Philanthropy

State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that it has received top rankings in Asia Asset Management magazine's 2007 Achievement Awards. State Street Global Advisors (SSgA), the company's investment management arm, was named "Most Improved Institutional House" in Hong Kong and awarded "Best Community Service." State Street was also rated "Best Securities Lending House" for the second consecutive year. The awards were presented on Thursday, March 6, at a dinner ceremony held at the Four Seasons Hotel in Hong Kong.

"Since opening our office in Hong Kong in 1990, SSgA has continued to expand and refine our asset management capabilities in the rapidly growing Asia-Pacific market," said Mr. Bernard Reilly, senior managing director for State Street Global Advisors (SSgA) Asia Limited. "We are honoured to have SSgA's strong business growth and successful community outreach programmes recognized by Asia Asset Management. These rankings are a testament to our long-standing commitment to supporting the business and community needs of the region."

State Street is in its 10th consecutive year as principal sponsor of the Oxfam Trailwalker, one of the region's largest fundraising events, helping to raise more than HK$180 million in support of Oxfam's poverty and emergency relief projects. The company also sponsors the event in Australia, Japan and the United Kingdom. For six years, the company has received the Caring Company distinction from the Hong Kong Council of Social Service.