The new win, awarded to State Street after a competitive tender process, encompasses Lucida’s global custody, investment accounting, performance measurement, securities lending, transition management and compliance monitoring requirements.

“State Street’s experience and proven track record of servicing complex customer needs within the bulk annuity market were very important to us,” said Margaret Snowdon, Lucida’s o perations director . “As our assets grow we’re very confident that we have a partner who can meet all of our financial services needs.”

“Building on our success in servicing other bulk annuity providers as well as sophisticated LDI strategies, this mandate is another important step for State Street in what we see as a key growth market ,” said Peter O’Neill, executive vice president and head of State Street’s investment servicing and investment research and trading businesses in the United Kingdom, South Africa and the Middle East. “We now have an excellent customer base in the UK which we can use to expand into other geographic locations where defined benefit schemes have historically dominated the pensions landscape. We’re pleased to demonstrate our ability to service customers in this area.”

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 US$13.0 trillion in assets under custody and $1.9 trillion in assets under management at June 30, 2007, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.