State Street Corporation Prices $2.5 Billion Common Stock Offering

BOSTON--(Business Wire)--
State Street Corporation (NYSE: STT) today announced the pricing
of its previously announced offering of $2.5 billion, or 35.7 million
shares, of common stock. State Street has also granted the
underwriters an option to purchase up to 5.4 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 $70 per share. State Street estimates
that the net proceeds from the offering will be approximately $2.4
billion, after deducting estimated expenses and underwriting discounts
and commissions (or approximately $2.8 billion, if the underwriters
exercise in full their option to purchase additional shares). State
Street intends to use the net proceeds from the offering for general
corporate purposes.

Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated are
joint book-running managers for the securities offering. Goldman,
Sachs & Co. will serve as the syndicate trading manager and settlement
agent for the offering. Credit Suisse Securities (USA) LLC, Lehman
Brothers Inc. and UBS Securities LLC are co-managers for the
securities offering.

State Street has filed a registration statement (including a
prospectus) with the Securities and Exchange Commission, or SEC, 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, the issuer, 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.'s prospectus department at 85 Broad Street, New York, NY
10004, e-mail: prospectus-ny@ny.email.gs.com, telephone: (212)
902-1171, facsimile: (212) 902-9316, or Morgan Stanley & Co.
Incorporated's prospectus department at 180 Varick Street, 2nd Floor,
New York, NY 10014, e-mail: prospectus@morganstanley.com, telephone:
(866) 718-1649.

This press release shall not constitute an offer to sell or the
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, +1 617-664-2888
or
Media:
Hannah Grove, +1 617-664-3377

Copyright Business Wire 2008