STT State Street Corporation

Underscores Commitment to Investment Research with Addition of Six Quantitative Analysts State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT) and the largest institutional fund manager in the world, today announced an expansion of its Advanced Research Center (ARC), an internal think-tank that creates proprietary models aimed at continuous improvement of the investment process. Mama Attiglah, Alejandro Gaba, Renato Guido, Zhan Onayev, Raul Rivera and Ritirupa Samanta have joined the quantitative research analysts team led by Mark Hooker, managing director of the ARC. These analysts will enhance existing models and incorporate newly-developed quantitative forecasting techniques into the investment process at SSgA. Attiglah is currently completing a Ph.D. in dynamic stochastic control at the Cass Business School of City University. Gaba was previously a quantitative analyst for the structured finance/managed funds group at Moody's Investors Service and a Ph.D. candidate in finance at the University of Rochester, where he also holds a master of science degree in business administration, specializing in applied economics. Guido was previously a lecturer in quantitative finance at the University of New South Wales where he holds a Ph.D. in finance/statistics. Onayev joined the ARC from the World Bank, where he was a consultant in the quantitative strategies, risk and analytics department. He holds a Ph.D. in finance and an MBA from George Washington University. Rivera holds masters degrees in mathematical finance from Boston University and in economics from the University of Houston, and is working toward his CFA qualification. Samanta was previously a senior research associate with State Street Associates, the research partnership of State Street Global Markets. She holds a Ph.D. in international finance and economics and a master of science degree in finance from Brandeis University. Attiglah and Guido are located in the ARC group in London, headed by Ralph Smith, while Gaba, Onayev, Rivera and Samanta are based in Boston. "The addition of these talented individuals to the research team is an illustration of our commitment to research-driven innovation," said Hooker. "We will continue to build on our quantitative research capabilities in order to deliver innovative investment solutions, including alpha-generating strategies, to our clients." The ARC serves as the repository for SSgA's accumulated investment experience and intellect. Combining global research capabilities, industry-wide intellectual capital and adherence to rigorous research standards, the ARC's analysts rely on their in-depth experience in quantitative financial engineering modeling to design the latest and most innovative quantitative investment solutions. In October 2005, in conjunction with the local quantitative investment team in Australia, the ARC unveiled SSgA's Global Alpha Plus strategy, designed to provide institutional investors with more efficient active returns in global equity markets. State Street Global Advisors (SSgA) is the investment management group of State Street Corporation. SSgA delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.4 trillion in investment programs and portfolios (as of December 31, 2005), State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 28 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.