State Street Introduces Vision Report on the Insurance Industry

State Street Corporation, (NYSE: STT), the world’s leading provider of financial services to institutional investors, today released The 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. "The insurance industry is experiencing significant challenges, amidst a highly competitive landscape of mergers and acquisitions and a heightened regulatory focus,” said Jay Hooley, vice chairman of State Street Corporation. "State Street’s latest Vision report will serve as a guide to help industry professionals position their business models to optimize investment returns and operations using the most efficient and cost-effective methods available.” The report draws on State Street’s knowledge of the insurance business across the company. Earlier Vision reports published by State Street focused on the Asia bond market and the hedge fund industry. Since 1978, State Street’s investment management arm, State Street Global Advisors (SSgA), has managed general account investment assets on behalf of insurance companies around the world. Today, SSgA Insure-VestSM, the company’s dedicated insurance investment team, manages more than $32 billion in insurance assets globally, and brings together the company’s global resources to deliver strategic solutions to insurance customers. SSgA Insure-Vest leverages State Street’s experience as one of the world’s leading global investment service providers to develop end-to-end integrated solutions. State Street provides full-service investment accounting and custody services to more than 130 insurance customers with assets in excess of $1 trillion. As a testament to its leadership in the insurance arena, last year State Street was appointed by Amlin plc and Amlin Bermuda Limited to provide a suite of investment services for £2.2 billion in assets. State Street’s wholly owned subsidiary, Princeton Financial® Systems, is a leading provider of portfolio management and accounting systems for global institutional investors, including its flagship PAM® investment management systems, used by approximately 250 insurers worldwide. 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 $15.1 trillion in assets under custody and $2.0 trillion in assets under management at September 30, 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. This news release may contain forward-looking statements, as defined by federal securities laws, including statements about the financial outlook and business environment. Any such statements are based on current expectations and involve a number of risks and uncertainties. Important factors, including those mentioned in this news release, that could cause actual results to differ materially are set forth in the company’s 2006 annual report and subsequent SEC filings. They include risks and uncertainties relating to the pace at which State Street adds new clients or at which existing clients use additional services, the value of global and regional financial markets, and the dynamics of the markets State Street serves. State Street encourages investors to review its annual report and SEC filings in conjunction with this announcement and prior to making any investment decision. The forward-looking statements contained in this news release speak only as of the date of release, November 15, 2007, and the company does not undertake to revise those forward-looking statements to reflect events after the date of this release.