STT State Street Corporation

State Street Corporation (NYSE:STT), the world�s leading provider of financial services to institutional investors, announced today that assets under administration serviced by its private equity fund team has surpassed $100 billion, as of June 30 2008. State Street�s private equity fund services team provides full-service fund administration services to more than 100 private equity and venture capital investment sponsors and fund of fund managers, who manage more than 350 funds domiciled globally. �We have been encouraged by the overall growth in our private equity servicing business, despite a slowdown within certain sectors of the industry,� said Jack Klinck, executive vice president and global head of State Street�s Alternative Investment Solutions team. �Our total assets under administration have grown by approximately 20 percent since establishing our dedicated service offering, and we look forward to building on this strong foundation.� During 2008, State Street has added $14 billion in private equity assets, representing 27 new funds as well as eight new client relationships. Given the continued growth of alternative investments including institutional investors� rising interest with private equity funds, State Street established its private equity service offering in 2007. Building on the private equity servicing capabilities it assumed as part of the acquisition of Investors Financial Services Corp. (IFIN) last year, State Street acquired Palmeri Fund Administrators (PFA) to further strengthen its capabilities for this growing market segment. The expertise of its dedicated team of private equity professionals combined with State Street�s global reach and support has created a world-class offering for private equity fund sponsors. State Street�s private equity solution is part of its Alternative Investment Solutions team which includes more than 2,200 employees located in Boston, Ireland (Drogheda, Dublin, Naas), London, New York City, Tokyo, Toronto, Sydney and Fair Lawn, New Jersey. 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 $15.3 trillion in assets under custody and $1.9 trillion in assets under management at June 30, 2008, 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.