State Street Corporation (NYSE: STT) announced today that it has been appointed by leading Canadian fund manager Excel Funds Management Inc. (Excel Funds) to provide investment servicing solutions.

State Street will service all of Excel Funds’ investment funds, and will provide custody, fund accounting and administration, foreign exchange and equities trading, and securities lending services. International Financial Data Services (IFDS) Canada, a joint venture of State Street and DST Systems Inc., will provide transfer agency services.

“After an extensive review of candidates, State Street and IFDS emerged as the clear partners for our business,” said Bhim D. Asdhir, president and CEO of Excel Funds Management Inc. “We are excited to have leading global providers of investment services and technology supporting us and expect this move to facilitate greater efficiency in our middle and back office administration, improve information flow, and enhance dealer relations.”

“We are delighted Excel Funds has selected us to support their investment servicing needs," said Rob Baillie, head of State Street Canada. “Our recent survey of asset managers shows that two-thirds are diverting resources from critical business areas to focus on increased risk and compliance demands. Our integrated solution is well-suited to manage Excel Funds’ portfolio and regulatory risk so they can concentrate on growing their business and their already-established position as an authority on emerging markets.”

“Excel Funds was looking for market leading providers with strong track records and a deep understanding of the mutual fund industry,” said Katherine MacMillan, president and CEO, IFDS Canada. “We’re extremely pleased to have been selected to support their growth and their commitment to customer service excellence.”

Excel Funds offers the widest selection of investment funds to Canadian investors with access to more than 700 local portfolio managers and analysts around the world through its network of sub-advisors.

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 $27.3 trillion in assets under custody and administration and $2.2 trillion* in assets under management as of September 30, 2015, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.

* Assets under management include approximately $25 billion as of September 30, 2015, for which State Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.

About IFDS

International Financial Data Services is recognized as a world-leading provider of outsourcing and technology solutions to the financial services industry. IFDS services are provided to a wide range of global asset managers, wealth managers, platform providers, insurers, and life companies. Supporting more than 44 million investor and policy holder accounts for over 370 financial organizations across Asia-Pacific, Europe, and North America, the IFDS enterprise employs in excess of 7,000 experienced individuals located throughout Canada, Ireland, Luxembourg, the United Kingdom, and the U.S. IFDS is a 50/50 joint venture between Boston-based State Street Corporation, one of the world’s leading providers of financial services to institutional investors, and Kansas City, Missouri-based DST Systems Inc., a leading provider of sophisticated information processing and servicing solutions to companies around the world. Figures as September 30, 2013. For more information visit www.ifdsgroup.com.

About Excel Funds Management Inc.

Excel Funds is a multiple Lipper Award winner specializing in emerging markets. Founded in 1998 with the launch of the Excel India Fund, the largest and longest running India-focused fund in Canada, the Manager has been a Canadian leader in emerging market-focused mutual funds by offering a wide-range of innovative mutual funds that capture new growth opportunities. Through its network of sub-advisors, the Manager has access to the knowledge base of over 500 local portfolio managers and 200 analysts around the world. Its on-the-ground sub-advisors and proprietary asset allocation model contribute to the firm being “The Authority in Emerging Markets” in Canada. For further information, please contact your financial advisor, call our investor relations line at 1‐888‐813‐9813 or visit our website at www.excelfunds.com.

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State Street CorporationJulie Kane, +1 617-664-3001jekane@statestreet.com@StateStreetorRita John, +1 416-506-8000 x 5640RJohn@ifdsgroup.comorCaroline Grimont, +1 905-624-7744caroline.grimont@excelfunds.com

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