State Street Introduces Vision Report on Sovereign Wealth Funds

BOSTON--(Business Wire)--
State Street Corporation (NYSE:STT), the world's leading provider
of financial services to institutional investors, today released its
Vision Report on sovereign wealth funds (SWFs), the fifth report in a
series of papers targeting issues at the core of institutional
investing. State Street's Vision Series is intended to advance
understanding of key themes and trends within the financial services
industry.

The latest report assesses the impact of SWFs on the global
economy. With nearly $3 trillion in aggregate financial resources and
a rapid growth trajectory, SWFs are increasingly important
cross-border investors. Across the industry, their rise to prominence
has provoked discussion across the industry around issues of
accountability, transparency and the appropriateness of government
control over investment decision-making.

"While political issues relating to sovereign wealth funds have
dominated the discussion, less attention has been paid to the actual
nature of SWFs -- their liabilities, their differing investment
objectives and their likely impact on capital markets," said Jay
Hooley, president and chief operating officer of State Street.
"Drawing on State Street's perspective as a market practitioner, we've
focused our report on these areas. We hope our insights into this
fast-growing market will assist industry participants as they
formulate their own views and anticipate trends that could affect them
and their customers."

State Street was among the first investment managers to recognize
and focus on this unique client segment and now manages assets for
more than 70 sovereign and supranational clients. In 2000, State
Street Global Advisors (SSgA), State Street's investment management
arm, established the Official Institutions Group (OIG) to oversee
investment management services for sovereign clients such as central
banks, government agencies and supranational institutions.

State Street's investment servicing and research and trading
businesses also maintain relationships with more than 40 SWFs and
central banks. State Street provides flow-based investor behavior
research to approximately 70 percent of the world's central banks,
including those in all G10 countries.

The Vision Report on SWFs draws on knowledge from George R.
Hoguet, managing director, senior portfolio manager and global
investment strategist specializing in emerging markets at SSgA; John
Nugee, managing director, SSgA, and head of State Street's Official
Institutions Group; and Andrew Rozanov, head of Sovereign Advisory and
managing director of State Street Global Markets.

State Street has published Vision Reports on topics including the
Asian bond markets, hedge fund servicing, the insurance industry and
global pensions. To obtain a copy this Vision Report on SWFs or for
more information, members of the press can contact
publicrelations@statestreet.com. All other requests can be directed to
vision@statestreet.com.

About State Street:

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 $15.3 trillion in assets under custody and $1.9
trillion in assets under management at June 30, 2008, State Street
operates in 26 countries and more than 100 geographic markets
worldwide. For more information, visit State Street's website at
www.statestreet.com.

State Street Corporation
Marie McGehee, 617-664-1898
or
Steve Maguire, 617-664-3001

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