LONDON – 7 August 2008 – State Street Corporation (NYSE: STT), the world’s leading provider of financial services to institutional investors, announced today that it has been appointed by Sun Life Financial of Canada (UK) to provide a range of investment administration services for more than $15 billion in assets.

State Street will provide Sun Life’s UK operation with fund accounting and unit pricing, regulatory reporting, global custody, compliance monitoring, performance measurement, derivatives pricing and processing and collateral management services.

“State Street’s broad range of services customised for the insurance market was a key attribute for us in our selection of a service provider,” said Janet Fuller, chief executive officer of Sun Life Financial of Canada (UK). “We also have been impressed by the quality of its customer service teams and control environment, and look forward to building a long-term partnership.”

“We are pleased to forge this relationship with Sun Life for their operations in the UK,” said Wade McDonald, head of customer management for State Street's investor services team in the United Kingdom, Middle East and Africa. “With State Street’s expertise in the insurance industry, we have built a full suite of services specifically aimed at meeting the multi-faceted requirements of global organisations such as Sun Life.”

State Street provides full-service investment accounting and custody services to more than 130 insurance customers with assets in excess of $1 trillion. State Street has worked with Sun Life’s subsidiary, MFS Investment Management, since 1924 when Boston-based MFS launched the first US mutual fund. Today, State Street services Sun Life globally in supporting many of its insurance, institutional and mutual fund products.

Last year State Street released its State Street Vision Report on the insurance industry as part of its series of proprietary reports designed to help financial services professionals enhance their knowledge of key themes and trends affecting their industry. State Street’s insurance report offers an overview of major trends underway in the global insurance industry that will significantly impact growth and opportunities, such as the outsourcing of asset management and the evolution of new partnerships and alliances to build on product development and distribution. The report analyzes how these changes are driving the growth of third-party outsourcing in the industry and discusses new opportunities across all segments of the insurance business.

To obtain a copy of the report or for more information, members of the press can contact publicrelations@statestreet.com. All other requests should be directed to vision@statestreet.com.

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 $15.3 trillion in assets under custody and $1.9 trillion in assets under management at June 30, 2008, 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.