Munich, June 16, 2005 – State Street Corporation (NYSE: STT), the world’s leading provider of services to institutional investors, today announced the launch of the “State Street Financial Journalists Award” (“State Street-Preis für Finanzjournalisten”) for excellence in reporting on institutional investment services and investment management in Germany. The competition is aimed at financial editors and journalists who have had an article of outstanding quality published between July 1, 2004 and June 30, 2005 in print media distributed in Germany. Articles may be written in either German or English.

“The German State Street Financial Journalists Award is granted to honour and support journa­lists who contribute, through in-depth knowledge and excellent research, to a better understanding of the highly complex matters related to institutional investments. Investment Services and Investment Management have become of great importance particularly with regard to the necessary funding of pension plans.”, said Stefan Gmuer, Managing Director of the company’s German subsidiary State Street Bank GmbH, Munich. Klaus Esswein, Managing Director of the German investment management-arm State Street Global Advisors GmbH, Munich, emphasized: “While the discussion about the product design for retirement provision from a consumer’s point of view is important, the biggest challenge is to achieve the best possible performance of the accumulated assets with strictly controlled risk.”

The State Street Financial Journalists Awards have prize money totalling €15,000. Categories include “Best Journalist 2005” to honor a journalist who has covered the topic with a special expertise and dedication over a longer period.

A jury of high-profile representatives will evaluate the entries based on relevancy of the topic, content and style as well as on quality of research and journalistic presentation.

The jury includes: Professor Dr. Lutz Johanning, head of the Endowed Chair for Asset Management at the European Business School (EBS) in Oestrich-Winkel, Germany, Dr. Jochen M. Kleeberg, managing partner of alpha portfolio GmbH , Bad Soden/Taunus. Professor Dr. Dirk Lepelmeier, professor of financial services management at the German university of applied sciences “Fachhochschule Westkueste” (FHW), Heide, and Richard Peters, member of the board of directors of the German Supplementary Pension Agency of the Federal Government and State Government (“Versorgungsanstalt des Bundes und der Laender”, VBL), Karlsruhe.

The presentation of the 2005 Awards will take place on 14 November this year in Frankfurt/Main. In future the competition is scheduled to take place on a yearly basis.

Articles can be submitted both by the authors and by a third party. Entry conditions and further information on the prize are available at www.state-street-preis.de.

About State Street:

State Street Corporation (NYSE: STT) is the world's leading specialist in providing institutional investors with investment servicing, investment management and investment research and trading. With $9.5 trillion in assets under custody and $1.4 trillion in assets under management, State Street operates in 25 countries and more than 100 markets worldwide and employs 19,850 people worldwide. For more information, visit State Street’s web site at www.statestreet.com.

Media contact:

Klaus Riemenschneider, Northoff.Com Public Relations Beratung, Frankfurt/Main

Phone +49 69 952977-40, email: statestreet@northoff.com