STATE STREET APPOINTS STEPHEN SWIFT TO VICE PRESIDENT OF EQUITY SALES IN THE UK

London, 20th June 2005 – State Street Global Markets, the investment research and trading arm of State Street Corporation (NYSE:STT), today announced the appointment of Stephen Swift to vice president of its equity sales team in the UK.

Swift, based in London, will report to Paola Bergamaschi, head of equity sales for State Street Global Markets in Europe. Swift will join State Street’s growing equities team and will be responsible for customers across the UK and continental Europe.

"We are seeing increasing demand for our unique research and trading solutions, and as such, are delighted to have recruited Stephen to join our team," commented Dan Wiener, managing director of securities trading Europe for State Street. "His solid experience in European equity sales will help advance our leadership as we continue to deepen client relationships."

As an institutional equities professional with 18 years of experience of European markets and five years of specialisation in technology, Swift most recently worked as director of European technology sales for Credit Suisse First Boston. Swift was one of the founding specialist salespeople in the European technology team, and worked to build Europe’s leading technology franchise in primary transactions and secondary broking.

Swift previously held positions at Kleinwort Benson, Schroder Securities and Citicorp Scrimgeour Vickers, and holds a Bachelor of Arts (Honours) degree from the University of Cambridge.

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