Professional Pensions Magazine Names State Street ''Custodian of the Year'' and State...

Professional Pensions Magazine Names State Street ''Custodian of the Year'' and State Street Global Advisors ''Currency Manager of the Year''

Pensions Industry Recognizes State Street's Commitment to
Innovation and Outstanding Service Standards
BOSTON--(Business Wire)--
State Street Corporation (NYSE:STT), the world's leading provider
of financial services to institutional investors, announced today that
it has been named "Custodian of the Year" and "Currency Manager of the
Year," by Professional Pensions magazine at its 2008 UK Pensions
Awards. The judging panel selected State Street for its innovative
solutions tailored to meet changing market and client needs,
outstanding reporting and performance management techniques and
top-tier customer service.

Professional Pensions established its annual awards to honor
providers who "offer the highest level of service to occupational
pension schemes and their members." Regarded as the industry's most
prestigious accolades, these awards recognize continuous and ongoing
improvement and are determined by a judging panel, which is chaired by
Professional Pensions editor Len Roberts and professionals from across
the occupational pensions industry. Nominees were evaluated across
four categories of set criteria, focusing on innovation,
communication, performance/benefit to clients and service standards.

As "Custodian of the Year," State Street stood out for its
innovative suite of services, including its OTC derivatives hub and
increased collateral management capabilities. State Street was also
cited for service excellence, earning high marks for the depth and
breadth of customer partnerships. Building upon customer demand for
accurate, timely and bespoke information, State Street was also
recognized for my.statestreet.com, which allows customers immediate
access to account information, including reporting capabilities.

"State Street strongly believes that today's custodian must be a
true partner, with the resources to support customers in all areas of
the investment process and the expertise to anticipate new challenges
and opportunities," said Michael Walsh, senior vice president and
managing director of State Street's investment servicing business in
the United Kingdom, Middle East and Africa. "This award by
Professional Pensions as Custodian of the Year is a recognition of our
ability to continue providing the most comprehensive solutions for the
UK pensions market."

As "Currency Manager of the Year," State Street Global Advisors
earned top marks for its consultative, solutions-oriented approach to
currency management. SSgA was also credited with enhancements to its
investment model for currency management, resulting from substantial
research and increased sensitivity to market regimes. Also significant
to this recognition was SSgA's commitment to proactive and transparent
reporting, as evidenced through numerous client-tailored reporting
options, available on a daily, monthly, quarterly, or annual basis,
with performance calculations in compliance with the CFA Institute's
mandatory requirements for Global Investment Performance Standards.

Collin Crownover, managing director and head of currency
management at SSgA, commented, "With demand increasing for currency
management strategies from pension schemes worldwide, it is an honor
to be recognized by Professional Pensions. Our experience in
evaluating currency markets and enhancing risk-adjusted returns
through active and passive currency management is highlighted by this
award, underscoring SSgA's ongoing commitment to delivering
unparalleled service and performance to our clients."

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 Global Advisors, the investment management arm of
State Street Corporation (NYSE: STT), delivers investment strategies
and integrated solutions to clients worldwide across every asset
class, investment approach and style. With $2 trillion in assets under
management at March 31, 2008, State Street Global Advisors has
investment centers in Boston, Hong Kong, London, Milan, Montreal,
Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 27
cities worldwide. For more information, visit State Street Global
Advisors at www.ssga.com.

State Street Corporation
Marie McGehee, 617-664-1898

Copyright Business Wire 2008