London, 9 January, 2007 — State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT) and the largest institutional fund manager in the world, today announced its appointment to manage $65 million in Japan Small Cap equities for Industriens Pension, a key player in Denmark’s pension market and manager of supplementary pensions for more than 300,000 Danish workers.

“We value the combination of State Street Global Advisors’ localized investment professionals and expertise of its team in Tokyo,” said Jan-Ole Hansen of Industriens Pension. “Combine those qualities with the capabilities of SSgA’s Advanced Research Center and the level of service we’ve consistently received from SSgA, and it becomes the clear choice to help us with achieving our investment goals.”

The new award adds to a 3-year relationship and the $300 million in assets that SSgA currently manages for Industriens Pension.

“We are pleased that Industriens Pension has decided to expand its relationship with State Street Global Advisors,” said Benoît Fally, managing director of SSgA in Brussels. “SSgA’s quantitative investment processes are ideally suited for capturing the inefficiencies of financial markets while providing consistent, predictable returns and optimizing information ratios. This expansion of our relationship underscores SSgA’s proven expertise and experience in quantitative portfolio management.”

SSgA’s Advanced Research Center combines global research capabilities, industry-wide intellectual capital and adherence to rigorous research standards to solve investment challenges for clients around the world. Its industry-seasoned professionals have in-depth expertise in quantitative financial engineering modeling and are committed to excellence in research.

About State Street Global Advisors:
State Street Global Advisors, the investment management arm of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.6 trillion in assets under management as of September 30, 2006, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 25 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

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020 7282 1081

Stephen Sheppard
020 7282 1025