STT State Street Corporation

State Street Corporation (NYSE:STT), the world's leading provider of services to institutional investors, announced today that it has been named "Best at Investor Services in North America" for the second consecutive year by Euromoney magazine in its 2005 Awards for Excellence. "We are honored that our customers have once again expressed appreciation for our outstanding service and ability to provide a wide and integrated range of investment solutions," said Jay Hooley, executive vice president and head of global investment services for State Street. "This award is attributable to our industry leadership and ability to consistently stay ahead of the curve in meeting the investment servicing needs of our customers." According to Euromoney, "State Street is still out in front, largely through first-mover advantage in the hot topic in investor services in the past couple of years -- how to service hedge funds -- and the Boston bank got in on the act with its acquisition of IFS." In 2002, State Street acquired International Fund Services (IFS), a leading provider of fund accounting and administration as well as trade support and middle office services for alternative investment portfolios, and today services more than $120 billion in alternative investment assets. IFS recently achieved top rankings for the second consecutive year in Global Custodian magazine's tenth annual Hedge Fund Administration Survey. "State Street continues to lead in the more traditional investor services business as well," continued Euromoney. The publication cited State Street's $224 billion mandate from Bank of America, one of the largest awarded in the industry, and $60 billion mandate from the Oregon State Treasury as key milestones for the accolade. The Euromoney Awards for Excellence recognize the finest financial institutions worldwide in a range of disciplines, including debt, equity, M&A, project finance, and cash and risk management. The awards were chosen based on nominations submitted by participating companies and through interviews with clients. All winners are profiled in the July issue of Euromoney. Please visit www.euromoney.com for more details. State Street Corporation (NYSE: STT) is the world's leading specialist in providing institutional investors with investment servicing, investment management and investment research and trading. With $9.5 trillion in assets under custody and $1.4 trillion in assets under management as of March 31, 2005, State Street operates in 25 countries and more than 100 markets worldwide. For more information, visit State Street's web site at www.statestreet.com.