STT State Street Corporation

State Street Corporation (NYSE:STT), the world's leading provider of financial services to institutional investors, today announced a number of product and technology enhancements aimed at expanding capabilities and services for its global customers. All of the new developments can be accessed via my.statestreet.com, State Street's integrated online customer information delivery platform, which acts as a secure, single entry point to State Street's full suite of sophisticated market data and analysis applications. "The evolving regulatory environment, along with the heightened complexity of the overall investment process, have meant that our customers need greater accessibility to their investment information along with better monitoring and control over the activities of their managers," said Joseph Antonellis, executive vice president and chief information officer for State Street. "The product and technology enhancements we made recently will help our customers save time and effort, while enabling streamlined access to key information. These new developments also highlight State Street's ongoing investment in the diverse technology needs of our global customer base." The new enhancements include: Online Documents State Street now offers an Online Document Manager ("Online Documents") as part of its comprehensive suite of customer applications, which enables customers to maintain, organize, readily access and circulate important financial documents in a common repository. These include letters, contracts, amendments, agreements, partnership agreements, contact lists, process and procedure guides, and compliance documents. Online Documents features secure and immediate document distribution to multiple users as well as an audit trail that monitors document posting dates and originators. In addition, the solution helps to eliminate the need for exchange of emails with large attachments. A centralized posting feature ensures consistency so that all users are able to view and update the same document in a secure manner. "Online Documents is a welcome enhancement to my.statestreet.com, providing one central location for our entire team to access documents," said Roger Biscay, assistant treasurer for Cisco Systems, a State Street customer. "We've already noticed a drastic reduction in the volume of emails exchanged by our team members on a daily basis." Securities Lending Performance Analyzer State Street has expanded the capabilities of its Securities Lending Performance Analyzer (SLPA)(R), a sophisticated online performance measurement tool which quantifies, manages and communicates the risk/return relationship in a securities lending program. SLPA now provides this analysis for customers who participate in lending programs involving Euro collateral in addition to U.S. Dollar collateral. Tax-Efficient Lot Selector In response to increased shareholder pressure on our institutional customers to improve tax efficiency and increase returns, State Street has enhanced the fixed income functionality of its integrated Tax-Efficient Lot Selector. The new tool is designed to minimize the tax burden to shareholders resulting from the sales of both equities and fixed income securities in funds they own. Minimizing a fund's gains from sales of these securities lowers capital gain distributions to shareholders, thereby lowering the taxes they pay to the IRS. The Tax-Efficient Lot Selector's straight-through process and accessibility via my.statestreet.com provide both operating efficiencies and convenience. The application also offers the flexibility to customize business rule and rate selection criteria to meet customers' specific needs. 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 $10.7 trillion in assets under custody and $1.5 trillion in assets under management (as of March 31, 2006), 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