STT State Street Corporation

State Street Corporation (NYSE: STT), the world�s leading provider of financial services to institutional investors, today announced that it has been appointed by Bank of China (BOC) to jointly service the foreign currency insurance funds of China Life Insurance Company Limited (China Life), the largest life insurance company and one of the largest institutional investors in Mainland China. The appointment is significant given that China Life�s foreign currency insurance funds are one of the largest among all insurance companies in Mainland China. This is the first offshore insurance investment fund awarded as a jointly-serviced mandate in Mainland China. Under the arrangement, BOC will provide domestic master custody services and State Street will provide global custody, fund accounting, foreign exchange, performance measurement and compliance reporting services for the foreign currency insurance assets of China Life. State Street will provide this integrated suite of investment services from its operations centre in Hong Kong. State Street�s global expertise meets Bank of China�s objective of collaborating with only the most skilled and dedicated providers in the industry. This new partnership with BOC enables State Street to meet the complex needs of its customers. �We continue to see increased demand for our services from institutional investors in mainland China,� said Peter Baker, head of State Street�s investor services business in Asia ex-Japan. �As the investment landscape in China is fueled by the liberalization of foreign investment restrictions, our experience in servicing complex investment vehicles and ability to provide global solutions will continue to be key components to our success.� State Street Corporation is the world�s leading specialist in providing institutional investors with investment servicing, investment management and investment research and trading services. With $11.9 trillion in assets under custody and $1.7 trillion in assets under management as of December 31, 2006, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street�s website at www.statestreet.com. Notes to Editors: About China Life Insurance Company Limited China Life Insurance Company Limited (the "Company") (HKSE: 2628; NYSE: LFC; SSE:601628) was established in Beijing, China on June 30, 2003. On December 17 and 18, 2003, the Company successfully listed on the New York Stock Exchange and the Hong Kong Stock Exchange respectively. The Company�s A shares became listed in Shanghai on January 2007. The Company is the leading life insurance company in China's life insurance market (referring to the People's Republic of China for this press release, excluding the Hong Kong Special Administrative Region, Macau Special Administrative Region, and Taiwan Region). The Company has the most extensive distribution network in China that comprises of exclusive agents, direct sales representatives, and dedicated and non-dedicated agencies. The Company offers a series of products and services including individual and group life insurance, accident insurance and health insurance. It is the largest life insurance company in China, and is the leading provider of individual and group life insurance, annuities products, accident insurance and health insurance. As at December 31, 2005, the Company had over 70 million individual and group life insurance policies, annuities contracts and long-term health insurance policies that are in force, and also offers individual and group accident and short-term health insurance policies. Through its controlling shareholding in China Life Insurance Assets Management Company Limited, the Company is the largest insurance asset manager company and one of the largest institutional investors in China. About Bank of China Bank of China (BOC) is one of the leading commercial banks in China, providing a comprehensive range of commercial banking products and services in domestic and overseas markets. BOC's H shares became listed in Hong Kong in June 2006 (stock code: 3988) and its A shares became listed in Shanghai in July 2006 (601988 CH). BOC has been admitted as a constituent of the Hang Seng Index in Hong Kong since 4 December 2006. BOC's business comprises three principal segments: corporate banking, personal banking, and treasury products, and owns approximately 66% of the issued share capital of BOCHK which is the second largest commercial bank in Hong Kong by total assets as of 31 December 2005.