LONDON — 15 February, 2007 — State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced that it has won a 2007 German Fund Prize (Deutscher Fondspreis) awarded by ratings agency Morningstar, together with industry magazine FONDS professionell. The third annual German Fund Prize distinguishes fund companies for their equity and bond fund ranges, long-term product quality and overall service to clients.

Out of 49 equity funds ranked among 28 fund managers, SSgA won the "Equity Funds – Large Company" category, with the highest average rating of 3.48 stars. Since the establishment of the awards three years ago, SSgA has consistently achieved a position among the top three managers, and was ranked No. 1 in 2005.

"The performance of our investment strategies is attributed to our talented team of investment professionals in Germany, who consistently implement our quantitative active investment approach," said Klaus Esswein, managing director of SSgA in Germany. "We are pleased to once again be recognized by Morningstar and FONDS professionell acknowledging our leadership in providing risk-controlled strategies to institutional investors."

Morningstar considered all funds of a company rated in the German market within its appropriate peer group. The primary criteria included fund performance, risk over a three-year period, and entry and exit fees of the fund.

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 US$1.7 trillion in assets under management as of December 31, 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 or www.statestreet.de.