State Street Releases Next Generation of Headquarters Reporting Product.

BOSTON -- State Street Corporation (NYSE:STT), the world's leading provider of services to institutional investors, announced today the latest release of its Headquarters Reporting (HQR) product. Developed primarily for multinational corporations with pension plans spanning multiple jurisdictions and multiple service providers, HQR is an automated service that provides customers with an aggregated view of worldwide investment information, including market values, asset allocations, exposures, performance results, and positions. An enhanced data acquisition capability enables State Street to provide a comprehensive and coherent consolidated view of the customer's worldwide investment assets.

HQR delivers asset information via a secure online platform. Its flexible reporting structure allows customers to view market valuations and positions, as well as portfolio and benchmark returns. HQR also provides users with the ability to customize their data hierarchies down to individual portfolio and holdings in currency of choice.

"HQR's robust capability to procure customers' data from other service providers throughout the world is a standout in the industry and a reflection of State Street's continued focus on providing information delivery solutions to our multinational pension customers for assistance with worldwide oversight of their investments," said Joseph Antonellis, Chief Information Officer at State Street. "By consolidating asset values and positions, as well as performance results and risk information, we've enabled our customers to efficiently and cost-effectively meet the global marketplace's increased demand for comprehensive data views and complex investment reporting."

Headquarters Reporting provides support for oversight, risk measurement and control for worldwide investment management. Key capabilities include:

--Consolidated worldwide asset information, performance results and risk information

--Reports on investment activity including beginning and ending asset values, returns and flow information

--Ability to drill down through the hierarchy of the information

--Assistance with regulatory reporting.

State Street has a decade of experience in helping multinational plan sponsors with consolidated reporting. This latest release of HQR signifies a next generation enhancement of these services, and the continuous strengthening of the reporting platform.

HQR is available to customers via mystatestreet.com, State Street's secure Web-based platform for customer data and applications. The Web site provides a single entry point to State Street's full suite of sophisticated market data and analysis applications in a highly customizable environment.

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 $9.5 trillion in assets under custody and $1.4 trillion in assets under management as of March 31, 2005, State Street operates in 25 countries and more than 100 markets worldwide. For more information, visit State Street's web site at www.statestreet.com.