State Street Appointed Global Custodian and Trading Services Provider for Guotai Nasdaq-100 Index Fund

State Street Corporation, one of the world’s leading providers of financial services to institutional investors, announced today that it has been appointed as global custodian and trading service provider to the Guotai Nasdaq-100 Index Fund, the first fund in China to track the performance of an overseas index.

State Street will offer a range of integrated investment servicing solutions to the fund, including global custody, fund accounting, investment compliance reporting services, foreign exchange and portfolio research and trading solutions. The fund is managed by Guotai Asset Management Co. Ltd. China Construction Bank will act as local custodian.

“This opportunity is historic for Chinese investors to invest in Nasdaq-listed companies, and we are honored to be involved,” said Ms. Sau Kwan, managing director and senior vice president of State Street in Hong Kong. “State Street’s global approach to investment servicing, research and trading, and vast experience with index-linked products makes us uniquely suited to service China’s growing funds market.”

Ms. Shelley Yang, managing director of the International Business Department and head of overseas business marketing at Guotai Asset Management said, “This fund will offer new opportunities for Chinese investors, and we can think of no better partners than State Street and China Construction Bank. State Street was the clear choice for this role as we were seeking a firm with a truly global service platform, offering innovative and quality solutions.”

The Guotai NASDAQ-100 Index opened for subscription on March 22, becoming the first index-linked financial product to offer Chinese investors access to stocks listed on an overseas exchange. Investments will be conducted through the Qualified Domestic Institutional Investor (QDII) program, through which Chinese investors can invest in foreign capital markets.

Guotai Asset Management received a $700 million investment quota under QDII earlier this year. The Guotai NASDAQ-100 Index gives Chinese investors access to component stocks of the NASDAQ-100, to an exchange traded fund of that index, and to money market instruments and other approved financial instruments.

The NASDAQ-100 comprises the many of the world’s largest non-financial stocks. Guotai Asset Management has an exclusive licensing agreement with NASDAQ-OMX Group to use the NASDAQ-100 Index in development of financial products in China.

State Street Corporation has been actively involved in China’s financial landscape since 1997, working with many of its leading financial institutions including China Construction Bank for which it acts as a global partner serving the QDII sector. In 2005 it established its first presence on mainland China when it opened a representative office in Beijing.

About State Street

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $19 trillion in assets under custody and administration and $1.9 trillion in assets under management at March 31, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.

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