BOSTON, May 6, 2008 –State Street Corporation (NYSE: STT), the world’s leading provider of financial services to institutional investors, today announced that it has signed a lease for a new operations centre in Krakow, Poland. The new 125,000 square foot building, which is scheduled to be complete in June 2009, will be located at 36 Podgórska Street, in the Kazimierz District of Krakow, and will accommodate up to 1,000 employees.

To mark State Street’s entrance into Poland, a lease signing ceremony was held today at Krakow City Hall with the Mayor of Krakow in attendance.

“Poland is a key component to support our continued growth in Europe,” said Tim Caverly, executive vice president of State Street’s investor services business in continental Europe who presided over today’s events in Krakow. “ Krakow provides access to a highly educated workforce and deep labor pool of talent. Our State Street employees here have already become an integral part of our business activities.”

State Street currently has more than 150 employees in Poland who provide support for the company’s fund accounting business in continental Europe. With more than 27,000 employees worldwide and more than 6,000 in Europe, State Street has a goal of increasing its revenue from outside of the US to 50 percent. In 2007, 41 percent of the company’s revenues were generated from non-US operations. By establishing this operations centre, State Street will expand its capabilities and further advance business growth opportunities in Ireland, Luxembourg, Germany and across Europe.

“Krakow is an attractive place to develop our business,” continued Caverly. “It is a city that graduates 25,000 students a year, many of whom have the broad range of language and technical skills that we’re looking for. Krakow also has the second largest airport in Poland making it easily accessible to the rest of Europe.”

“We are impressed by the scale and speed of State Street operations in Poland, and welcome such a renowned tenant in our office building,” said Eli Alroy, the chairman of Supervisory Board of GTC. Globe Trade Centre S.A. (GTC) is one of the leading developers in the New Europe, developing real estate projects in Central and Eastern Europe and South Eastern Europe.

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 trillion in assets under custody and $2 trillion in assets under management at March 31, 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.