Boston — May 22, 2007 — State Street Corporation (NYSE: STT), the world’s leading provider of financial services to institutional investors, announced today that it has received seven first-place and four second place rankings in Global Investor magazine’s Global Custody Awards.

This year marked Global Investor magazine’s ninth annual Global Custody Awards, which were held at the Café Royal in London. Among its seven first-place rankings, State Street was named No. 1 in “Overall Results Weighted” and in both the “GI 100 Firms Only Unweighted” and “GI 100 Firms Weighted” categories. State Street was also named No. 1 in the “North American Respondent,” “European Respondents,” “Insurance Companies” and “European Institutional Fund Managers” rankings, all of which were Weighted.

In contrast with the Unweighted awards, which represent the scores provided by survey respondents, the Weighted awards also factor in a provider’s scale in terms of assets under management. In both categories, State Street’s results show significant year-over-year improvement in terms of raw score and/or relative ranking.

“These awards reflect State Street’s commitment to service quality and understanding our customer’s needs, and creating better connections with them,” said Jay Hooley, vice chairman and global head of investment servicing and investment research and trading at State Street. “We’re delighted to receive this recognition from our customers and the industry at large.”

About State Street:

State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $12.3 trillion in assets under custody and $1.8 trillion in assets under management at March 31, 2007, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s web site at www.statestreet.com.

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