State Street Acquires Exchange Traded Fund License Rights for SPDR, MidCap SPDR and DIAMONDS Trusts.

BOSTON -- State Street Corporation announced today that it has acquired the licensing rights for three exchange-traded funds (ETFs) listed and traded on the American Stock Exchange (AMEX). The three ETFs-- the SPDR(R) Trust, MidCap SPDR Trust and DIAMONDS(TM) Trust-- are sponsored by PDR Services LLC (PDR), a wholly-owned subsidiary of the American Stock Exchange LLC. Collectively these three ETFs represent about one third of the ETF market.

The licensing rights, which State Street has acquired from PDR and the AMEX, grant State Street the use of the SPDRs, MidCap SPDRs and DIAMONDS trademarks together with certain other trademarks of Standard and Poors(R) and Dow Jones(R), including the S&P 500(R), the S&P MidCap 400 and the Dow Jones Industrial Average(TM). State Street also assumes exclusive responsibility to market and promote the three ETFs.

The SPDR Trust, MidCap SPDR Trust and DIAMONDS Trust will continue to be listed on the AMEX. The financial terms of the agreement will not be material to State Street Corporation.

About State Street Corporation

State Street Corporation (NYSE: STT) is the world's leading specialist in providing institutional investors with investment servicing, investment management and investment research and trading. With $9.8 trillion in assets under custody and $1.4 trillion in assets under management (as of September 30, 2005), State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street's web site at www.statestreet.com.

This news announcement contains forward-looking statements as defined by United States securities laws, including statements about the financial outlook. Those statements are based on current expectations and involve a number of risks and uncertainties, including those related 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, the pace of cross-border investment activity, changes in interest rates, the pace of worldwide economic growth and rates of inflation, the extent of volatility in currency markets, consolidations among clients and competitors, State Street's business mix, the dynamics of markets State Street serves, and State Street's success at integrating and converting acquisitions into its business. Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in State Street's 2004 annual report on Form 10-K and subsequent SEC filings. State Street encourages investors to read the Corporation's annual report, particularly the section on factors that may affect financial results, and its subsequent SEC filings 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, November 1, 2005, and the Corporation will not undertake efforts to revise those forward-looking statements to reflect events after this date.

"Standard & Poor's(R)", "S&P(R)", S&P 500(R), "Standard & Poor's 500", "500", "SPDRs", Standard & Poor's MidCap 400 Index", "S&P MidCap 400 Index", "Standard & Poor's MidCap Depositary Receipts", and "MidCap SPDRs" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by State Street Corporation

"Dow Jones(TM)", "DIAMONDS(TM)" and "Dow Jones Industrial Average(TM)" are trademarks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by State Street Corporation. The DIAMONDS Trust, based on the Dow Jones Industrial Average, is not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of investing in such product.