State Street Makes Two Senior Appointments in the U.K

Promotes Michael Walsh to Head of Business in Scotland, Appoints Steve Wisson as Outsourcing Client Specialist

Edinburgh – 17 October 2005 -- State Street Corporation (NYSE: STT), the world's leading provider of services to institutional investors, today announced two appointments within its Investor Services business in Northern Europe:

• Michael Walsh, currently head of WM Performance Services, has been named managing director and head of State Street’s business in Scotland. Walsh assumes the role from John Corcoran, who is returning to Boston to take up a role in State Street’s mutual fund administration group. Walsh will continue to retain his role with WM, which he has held since January 2004. State Street acquired WM in January 2003 in conjunction with a substantial portion of Deutsche Bank’s Global Securities Services business.

• Steve Wisson has been appointed to a new role as senior vice president responsible for client integration within State Street’s investment operations outsourcing group. Wisson joins State Street having served for three years as the global head of operations for AXA Investment Managers (AXA IM), a role in which he worked very closely with State Street in forming their landmark outsourcing partnership.

"I’m delighted to welcome Michael and Steve to their new positions," said Jeff Conway, senior vice president and head of State Street’s investment servicing business in Northern Europe. "Michael has done a terrific job in his role with WM, and I am confident that he can build upon the incredibly strong foundation John has helped build in Edinburgh. Steve brings more than 20 years of middle- and back-office experience to his new position, and his expertise and broad market acumen will help solidify State Street’s position as the market leader in the outsourcing field. Both of these moves highlight our strong organisational depth and our ability to attract talented individuals to fill key positions both within and from State Street’s existing management team."

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