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 as the best service provider in four categories at the 2006 ICFA European Custody and Fund Administration Awards. In a ceremony held on 22 February at the Grosvenor House Hotel in London, State Street was honoured with the following awards: -- European Custodian of the Year -- European Transition Manager of the Year -- European Mutual Fund Administrator of the Year -- European Securities Lender of the Year The aim of the ICFA Awards process is to recognise and highlight excellence and specific achievement throughout many sectors of the European investment back office, encouraging service providers to raise standards and improve efficiency and client service. A team of six expert judges, chaired by ICFA editor Jason Conway, was assembled to assess the individual merits of the nominations and decide upon the 2006 award winners. The panel included: Stefan Bichsel, president of the European Fund and Asset Management Association; Dr. Werner Frey, CEO of the European Securities Forum; Crispin Henderson, COO of Threadneedle Investments; John Li, chairman, KPMG Luxembourg; and Terry McCaughey, independent advisor for Terry McCaughey Associates. "The judging panel was very impressed with State Street's performance in 2005, which is reflected in the fact that they won more awards this year than any other single provider," said Conway. "In particular it was felt that they have taken on a leadership role in some complex areas across Europe - this was particularly noteworthy in the European Custodian of the Year category, where State Street's track record in investment manager outsourcing partnerships has been excellent." "We are delighted to have received these honours and believe they speak well about the depth and breadth of our service offering, the talented individuals and teams we have throughout Europe, the spirit of innovation which continues to drive us forward, and the commitment we have to servicing the needs of our European customers," said Jay Hooley, executive vice president and head of global investment servicing at State Street. ICFA is the leading bi-monthly magazine dedicated to providing balanced global coverage of global custody and fund administration news and trends. With an audited circulation of over 7,000 readers ICFA delivers concise in-depth analysis of the very latest industry developments. 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 services. With $10.1 trillion in assets under custody and $1.4 trillion in assets under management (as at 31 December 2005), 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.