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 the National Pension Service (NPS), South Korea's social security system, to provide global custody, securities lending and related services. "We are focused on increasing our overseas investments and working closely with a leading global custodian who can offer us a range of investment services,� said Moonsoo Kim, spokesperson for NPS. �We are extremely impressed with State Street�s local customer service team based in Seoul and sophisticated technology capabilities." "We are very pleased to build on our relationship with NPS,� said KK Tse, executive vice president and head of investment servicing in Asia Pacific for State Street. �State Street is committed to providing the highest quality services in the industry as our customers continue to expand their global investment strategies.� This mandate from NPS further builds on State Street�s strong presence in the Asia-Pacific region. In March, State Street announced that it was appointed by Bank of China to jointly service the foreign currency insurance funds of China Life Insurance Company Limited, the largest life insurance company and one of the largest institutional investors in mainland China. It was the first offshore insurance investment fund awarded as a jointly serviced mandate in mainland China. In July, State Street was appointed by the Workers Compensation Nominal Insurer of New South Wales, Australia, to provide investment services for approximately A$12 billion in assets. Earlier this year State Street also celebrated its 25th anniversary in Hong Kong, a testament to the company�s position as an important part of the infrastructure of the financial services industry in the Asia-Pacific region. Notes to editors/background on State Street: 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. Through its dedicated public funds business, State Street currently services approximately 40 percent of the public fund business in the United States. State Street is also the leading hedge fund servicing provider with approximately US$440 billion in assets. Further enhancing its position as one of the leading providers of financial services to institutional investors, earlier this year State Street acquired Investors Financial Services Corp. With this acquisition, State Street is now the leading investment servicing provider to the offshore and hedge fund industries and also acquires considerable capabilities in private equity servicing. About State Street State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With US$13.0 trillion in assets under custody and US$1.9 trillion in assets under management at June 30, 2007, 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. About National Pension Service South Korea's National Pension Service provides pension benefits for Korean residents. National Pension Service manages more than US$200 billion in assets, making it the fourth largest pension fund in the world.