Dallas Area Rapid Transit Authority Chooses State Street to Service $120 Million Retirement Plan.

Business Editors

BOSTON--(BUSINESS WIRE)--Oct. 24, 2001

State Street Corporation announced today that it has been selected by the Dallas Area Rapid Transit Authority (DART) to service its $120 million retirement plan. State Street will provide custody and benefit payment services to the 1,600 participants of the plan.

"This appointment reflects our commitment to expanding our base of clients in the region by providing value-added solutions and superior customer service," said Kevin Jones, senior vice president and head of State Street's specialized trust services business in St. Louis. "We look forward to our partnership with DART in delivering solutions to their servicing needs." Commenting on the appointment of State Street, Ben Gomez, vice president of DART said: "State Street's commitment to working with us to provide personalized service to our more than 1,600 participants was the key factor in our decision. We are confident that their state-of-the art participant service center and committed team of professionals will serve us very well."

State Street will service the business from its St. Louis office. State Street has more than 1,000 employees providing institutional trust and custody from its offices in St. Louis and Kansas City.

Dallas Area Rapid Transit (DART) is the public transit authority for Addison, Carrollton, Cockrell Hill, Dallas, Farmers Branch, Garland, Glenn Heights, Highland Park, Irving, Richardson, Rowlett, Plano and University Park. The authority provides bus, light rail, commuter rail, paratransit, HOV lanes and vanpool services.

With $5.8 trillion in assets under custody and $663 billion under management, State Street Corporation is the world's leading specialist in meeting the needs of sophisticated global investors. Offices are located in the United States, Canada, Chile, Cayman Islands, Netherlands Antilles, Ireland, United Kingdom, Netherlands, France, Belgium, Luxembourg, Switzerland, Germany, Czech Republic, United Arab Emirates, Russia, People's Republic of China, Taiwan, South Korea, Japan, Singapore and Australia. State Street Corporation's common stock is traded on the New York Stock Exchange under the symbol STT. For more information, visit State Street's website at www.statestreet.com.