STT State Street Corporation

State Street Continues to Deepen Relationships with Existing Customers State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that it has expanded its relationship with Illinois-based Calamos Investments(R) (Calamos) to provide fund accounting services for nine open-end mutual funds and one variable insurance fund representing nearly $29.8 billion in assets at April 30, 2006. State Street now provides services for 14 of Calamos' funds representing approximately $36 billion in assets at April 30, 2006. "State Street has demonstrated a commitment to our business since we began working together more than two years ago," said Nimish Bhatt, senior vice president of Calamos. "As we looked to consolidate service providers, State Street emerged as the clear leader in fund accounting during our rigorous due diligence process. The expertise of its client service team has been instrumental in providing support for the complex securities held in our mutual funds." State Street began providing fund accounting services to Calamos in February 2004, when Calamos launched the Calamos Strategic Total Return Fund. With more than $2 billion in assets raised during its offering period, this was among the largest closed-end fund initial public offerings in recent years. "When we began partnering with Calamos in 2004, we stated our commitment to supporting the firm's future growth," said Alan Greene, executive vice president of State Street. "This additional mandate confirms that our customers continue to gain considerable value from State Street's expertise and that we provide a level of service that is unmatched in the industry." State Street is the leading provider of fund accounting in the United States, servicing more than 40 percent of the mutual fund industry, and is the largest contributor of mutual fund NAVs to NASDAQ. Calamos Investments is a diversified investment management firm with more than $48.4 billion in assets under management at April 30, 2006. The firm offers equity, high yield, convertible and alternative investment strategies, using a risk-managed approach to capital appreciation and income-producing strategies. Calamos Investments serves institutions and individuals via separately managed accounts, open-end mutual funds and closed-end funds. For more information, visit www.calamos.com. 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.