STT State Street Corporation

Largest Corporate Contribution Supports "State Street Corporation Lobby" in New Waterfront Museum State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, and The Institute of Contemporary Art, Boston (ICA) today announced that State Street is awarding the ICA a $3 million contribution to support the ICA's $62 million capital campaign. The campaign supports the ICA's new and expanded facility on the waterfront for presenting multi-disciplinary contemporary art. State Street's contribution will include naming rights for the main entrance lobby of the new museum, slated to open later this year. "In many ways, the lobby is the heart of the museum--a lively public space where visitors are welcomed, have an immediate experience of contemporary art, and enjoy a stunning view of the harbor and skyline," said Jill Medvedow, James Sachs Plaut Director of the Institute of Contemporary Art. "State Street's naming of the ICA lobby underscores its commitment to a vibrant cultural community, essential to the civic health of Boston. We are deeply grateful for its generous support." The lobby, a dynamic feature of the building designed by Diller Scofidio + Renfro, provides the first experience of the ICA's striking architecture, with towering glass walls, views of Boston Harbor to the north and west, and a tapered design that draws visitors into the museum. "This contribution to the ICA is an example of our commitment to supporting the local community in Boston," said Ronald E. Logue, chairman and chief executive officer of State Street. "The new ICA is an important symbol of the revitalized waterfront area in Boston, and we are proud to be part of this effort. Our recent support of the State Street Pavilion at Fenway Park and now the ICA has a common goal--to preserve the rich history of the past while advancing the future of our city." The new Institute of Contemporary Art is currently under construction on Boston's waterfront, an area poised for transformation. Already home to the Boston Convention & Exhibition Center, the Seaport Hotel and the World Trade Center, the area symbolizes crucial physical, economic, and cultural growth in the city and links Boston's financial district with the revitalized Seaport. As the primary entrance to the museum, the 3,625-square-foot lobby will be visitors' first experience of the new ICA and will serve as a space for private, corporate, and community events. Its tapered design leads visitors to the admissions desk, where a digital video sign extending over the length of the desk provides daily information about museum events. Another unique feature of the lobby is the Art Wall. Located along the eastern interior wall, this space features artwork commissioned annually from an internationally known artist, providing a contemporary art experience to everyone who enters or approaches the building. From the lobby, visitors can access the Water Cafe by Wolfgang Puck, the ICA Store, and the entrance to the ICA's Education Center. Scheduled to open later in the fall, the ICA will be the cultural centerpiece of the waterfront and one of the city's most recognized architectural landmarks. Diller Scofidio + Renfro's bold architectural vision for the project and the dramatic waterfront location will create a dynamic, state-of-the-art center for performances and educational activities, as well as a contemplative exhibition space for contemporary art. With the contribution from State Street, the largest corporate contribution to the ICA, it has reached a new milestone in its capital campaign, with over $60 million raised toward its $62 million goal. Previous corporate gifts to the campaign include two gifts of $1.5 million each, and one $2 million gift. The Institute of Contemporary Art, currently located at 955 Boylston Street in Boston, will open its new waterfront location later this year. For more information, call 617-266-5152 or visit www.icaboston.org. 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 $10.9 trillion in assets under custody and $1.5 trillion in assets under management at June 30, 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.