State Street Announces Updates to Its Product and Technology Offerings

BOSTON--(Business Wire)--
State Street Corporation (NYSE:STT), the world's leading provider
of financial services to institutional investors, today announced new
updates to its product and technology offerings to strengthen its
industry-leading online information delivery tools for customers.

"State Street is further differentiating itself from the
competition with our continued focus on enhancing our technology,"
said Christopher Perretta, executive vice president and chief
information officer at State Street. "Our understanding of the
complexities our customers face, combined with the continuous
evolution of the industry helps us identify and select the best
technology solutions for our customers' needs."

Third-Party Risk and Compliance Offering

State Street recently expanded its ability to receive third-party
holdings data on behalf of its customers. Available on
my.statestreet.com, the new service provides State Street customers
with a global solution for reporting in two critical areas, risk and
compliance, which continues to be a key area of focus in the industry.

This new capability allows customers to consolidate the activities
they have across multiple service providers into a global standard
with an enriched data set utilizing State Street Investment Analytics'
robust solutions for post-trade investment compliance and risk
reporting. The data set offers a consolidated risk and compliance
profile allowing customers to monitor exposure and risk results across
their plans and managers globally.

Plus Web

State Street has launched a new Web application to support its
retiree services business. This new application, Plus Web, allows
employers and administrators to self administer their retiree data,
manage demographic information and reconcile their benefit payment
process.

Previously, State Street offered retirement payment processing
services to their customer base as a total business outsourcing
solution. State Street customers now have the option to continue to
maintain their employee retiree information on State Street's proven
PLUS platform, and will be able to in-source the administration and
management of participant and retiree information.

"Plus Web, accessible via my.statestreet.com for our trust and
custody customers, is yet another tool we provide to plan sponsors to
assist them in meeting the daily needs of pension administrators,"
said Michael Williams, executive vice president of institutional
investor services at State Street.

The dedicated portal, developed by Computer Sciences Corporation
(CSC) in collaboration with State Street, is customized for the needs
of each user, provides a custom queries tool for creating reports and
an open workspace area for posting shared documents.

Administration Product Suite (APS)

State Street recently introduced an enhancement for its
Administration Product Suite (APS) application, which is designed to
support service offerings to US mutual funds and similar entities.
This proprietary, Internet-based application supports automated survey
reporting to industry media companies on behalf of their customers.

The new application is an upgrade to prior technology, Fund
Administration Workstation (FAW). This enhancement underscores State
Street's continued focus on monitoring and reporting fund performance
statistics to fund directors and shareholders.

Corporate Action Service Enhancements

State Street has announced several enhancements to its corporate
action services, which will be available in the second quarter of
2008. With these latest upgrades, State Street will provide customers
with enhanced messaging, including email alerts advising them that
they have received a notification of a corporate event. In addition,
customers can also elect to receive messages from State Street
confirming that their response to a voluntary corporate action has
been received for further processing.

State Street customers who are SWIFT-enabled can now elect to
receive an instruction status message that is used to advise customers
of the status or change of a corporate action instruction. The message
will be generated near real time once the response has been updated in
the State Street system.

About State Street Corporation

State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $15 trillion in assets under custody and $2 trillion
in assets under management at March 31, 2008, State Street operates in
26 countries and more than 100 geographic markets worldwide. For more
information, visit State Street's web site at www.statestreet.com.

State Street Corporation
Steve Maguire, 617-664-3001

Copyright Business Wire 2008