State Street Corporation Prices $2.0 Billion Common Stock Offering

BOSTON--(Business Wire)--
State Street Corporation (NYSE: STT) today announced the pricing of its
previously announced offering of $2.0 billion, or 51.3 million shares, of its
common stock. State Street has also granted the underwriters an option to
purchase up to 7.7 million additional shares of common stock. The offering is
being conducted as a public offering registered under the Securities Act of
1933, as amended.

The offering was priced at $39.00 per share. State Street estimates that the net
proceeds from the offering will be approximately $1.9 billion, after deducting
estimated expenses and underwriting discounts and commissions (or approximately
$2.2 billion, if the underwriters exercise in full their option to purchase
additional shares). Subject to consultation with its banking regulators, State
Street plans to notify the US Treasury of its intention to repurchase the US
Treasury`s preferred stock and common stock purchase warrant investment in State
Street under the TARP Capital Purchase Program. If permitted to do so, the
company expects to repurchase the preferred stock and warrant with the proceeds
of this offering and a proposed offering of senior notes, not guaranteed under
the Federal Deposit Insurance Corporation`s Temporary Liquidity Guarantee
Program. State Street intends to use offering proceeds not used for this
repurchase for general corporate purposes.

Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated are joint
book-running managers for the offering.

State Street has filed a registration statement (including a prospectus) with
the Securities and Exchange Commission for the offering to which this
communication relates. Before you invest, you should read the prospectus in the
registration statement (and the supplement thereto) and other documents State
Street has filed with the SEC for more complete information about State Street
and this offering. You may get these documents for free by visiting EDGAR on the
SEC web site at www.sec.gov. Alternatively, State Street, any underwriter or any
dealer participating in this offering will arrange to send you the prospectus if
you request it by contacting Goldman, Sachs & Co., Attention: Prospectus
Department, 85 Broad Street, New York, NY 10004, telephone: (866) 471-2526,
facsimile: (212) 902-9316, email: prospectus-ny@ny.email.gs.com; or Morgan
Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street,
2nd Floor, New York, NY 10014, telephone: (866) 718-1649, email:
prospectus@morganstanley.com.

This press release shall not constitute an offer to sell or solicitation of an
offer to buy, nor shall there be any sale of, these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction.

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.

State Street Corporation
Edward J. Resch, +1 617-664-1110
or
Investors:
Kelley MacDonald, +1 617-664-3477
or
Media:
Hannah Grove, +1 617-664-3377

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