State Street Secures $60 Billion Investment Servicing Mandate from Oregon State Treasury.

BOSTON -- Highlights State Street's Position as Leading Provider of Services to Public Funds in the United States

State Street Corporation (NYSE:STT), the world's leading provider of services to institutional investors, announced today that it has been retained by the Oregon State Treasury (Oregon) to provide a variety of investment services for $60 billion in assets. State Street will provide custody, accounting, securities lending, performance and analytics, and transition management services. The Oregon State Treasury has been a State Street customer for more than eight years.

"Over the course of our relationship, we continue to receive outstanding client service from State Street's team of professionals," said Oregon State Treasurer Randall Edwards. "We chose to partner with State Street because of its ability to anticipate and deliver a broad spectrum of solutions to suit our needs."

State Street currently services approximately 45 percent of the public fund business in the United States, through its dedicated public fund team, with customers in 33 states and the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

"Because of our deep commitment to the public funds market, we have cultivated longstanding relationships with our customers, such as the State Treasury of Oregon," said Lee Jones, senior vice president of head of State Street's public fund business in the United States. "With more than two decades of unwavering focus on the needs of these customers, our proven ability to deliver superior service highlights our position as the provider of choice."

State Street has an extensive track record in providing investment solutions for public funds. In addition to the Oregon State Treasury, State Street has retained and/or secured new relationships through a competitive bidding process with a number of public funds including the State of Connecticut, Illinois State Board of Investments, North Carolina Department of the State Treasurer, Minnesota State Board of Investment, the Employees' Retirement System of the State of Hawaii, the Teacher Retirement System of Texas, Texas Municipal Retirement Fund, the Ohio Public Employees Retirement System and the Retirement System of Alabama.

About State Street

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.

About the Oregon State Treasury

The Oregon State Treasury is a highly sophisticated organization with a wide range of financial responsibilities, including managing the investment of state funds, issuing all state bonds, serving as the central bank for state agencies, and administering the Oregon 529 College Savings Network. The Treasury is managed like a business, striving to save taxpayers money and earn the highest possible return on investments. The Treasury consists of six main divisions: finance, investment, debt management, Oregon 529, information services, and executive. For more information, visit www.ost.state.or.us.