State Street Elects Two New Members to its Board of Directors

State Street Elects Two New Members to its Board of Directors

Boston, March 13, 2009 – State Street Corporation (NYSE:STT), the world’s leading provider of financial services to institutional investors, today announced the election of Robert Kaplan and Patrick de Saint-Aignan to its board of directors. Robert Kaplan is professor of management practice at Harvard Business School and former vice chairman of The Goldman Sachs Group with oversight for the investment banking and investment management divisions. Patrick de Saint-Aignan, a dual citizen of France and the United States, is a 30-year veteran of Morgan Stanley who held several positions as a managing director, including head of the firm’s global risk management function. Effective immediately, the addition of these two members brings the company’s total number of directors to 14.

“We are pleased to welcome Robert Kaplan and Patrick de Saint-Aignan to our board. Their global experience and leadership in financial services including senior roles in investment management, risk management and capital markets will provide valuable perspective as we continue to strengthen our presence in key markets around the world,” said Ronald E. Logue, chairman and chief executive officer of State Street Corporation. “With the addition of these new directors, our board continues to reflect a diverse range of global experiences and market knowledge.”

Prior to joining Harvard in September 2005, Kaplan, age 50, served as vice chairman of The Goldman Sachs Group with responsibility for investment banking and investment management divisions. During his tenure with Goldman Sachs, Kaplan served in a number of roles, including global co-head of the investment banking division, head of the corporate finance department and head of Asia-Pacific investment banking. He was also a member of the firm’s management committee, served as co-chairman of the firm’s partnership committee and chairman of the Goldman Sachs Pine Street Leadership Program. Kaplan is co-chairman of the board of Project A.L.S., co-chairman of the board of the TEAK Fellowship, and is also a member of the boards of the Harvard Medical School, Harvard Management Company, and the Ford Foundation. Kaplan received an MBA from Harvard and a bachelor of science from the University of Kansas.

Patrick de Saint-Aignan, age 60, retired in 2007 from Morgan Stanley having held multiple positions in corporate finance, capital markets and firm management during his 30-year tenure. At Morgan Stanley, he headed successively the firm’s global fixed-income derivatives business, its debt capital markets activities, its office in Paris and the firm-wide risk management function. He was a founder, director and chairman of the International Swaps and Derivatives Association; censeur on the Supervisory Board of IXIS Corporate and Investment Bank; and Independent Director of the Bank of China Limited, where he served as chairman of the audit committee and a member of the risk policy committee and the personnel and remuneration committee. De Saint-Aignan was honored with Risk Magazine’s Lifetime Achievement Award in 2004. He is a member of the board of directors of Allied World Assurance Company, where he is chairman of the compensation committee and a member of the audit committee and enterprise risk committee. De Saint-Aignan received an MBA from Harvard University and his BBA from the Ecole des Hautes Etudes Commerciales.

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 trillion in assets under custody and $1.4 trillion in assets under management at December 31, 2008, State Street operates in 27 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at

Forward-Looking Statements
This news announcement contains forward-looking statements as defined by United States securities laws, including statements about State Street’s strategies, as well as its goals, opportunities and business environment. These statements are not guarantees of future results or performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements, and those statements should not be relied upon as representing State Street’s expectations or beliefs as of any date subsequent to the date of this release. Important factors that may affect future results and outcomes include the global financial market disruption and the current worldwide economic recession; potential changes in the competitive environment; the level and volatility of interest rates and the performance and volatility of securities, credit, currency and other markets; the performance and demand for the products and services we offer; and the other financial, market, competitive, regulatory and business factors set forth in State Street’s 2008 Annual Report on Form 10-K and its subsequent SEC filings. State Street encourages investors to read these filings, particularly the sections on Risk Factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this press release speak only as of the date hereof, March 13, 2009, and State Street does not undertake efforts to revise those forward-looking statements to reflect events after this date.

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