State Street Corporation

State Street Corporation

January 11, 2005 10:30 ET

State Street Tops ISF Magazine's 2004 Combined Beneficial Owner and Borrower Rankings




JANUARY 11, 2005 - 10:30 ET

State Street Tops ISF Magazine's 2004 Combined
Beneficial Owner and Borrower Rankings

BOSTON & LONDON--(CCNMatthews - Jan 11, 2005) -

State Street Corporation (NYSE: STT), the world's leading provider of
services to institutional investors, announced today that it has been
ranked first by International Securities Finance (ISF) magazine in its
2004 combined rankings assessment.

For the first time, the publication combined the results of its annual
Beneficial Owners and Global Equity Finance surveys to assess which
lending agent is best managing both the borrower and lender sides of the
business. In March, State Street was rated the Top Lender (weighted) in
ISF's Beneficial Owners Survey; in September, State Street was named the
Top Lender by borrowers for the fourth consecutive year in the
publication's Global Equity Finance Survey. In addition, State Street
placed first in all three regional categories (Americas, Europe and
Asia) of the Global Equity Finance Survey and was ranked No. 1 for
breadth of supply and global coverage.

"To be successful, an agent must, first and foremost, make a good return
for their underlying beneficial owners; however it is important that
they do not achieve this at the expense of the borrower relationships,"
according to ISF. "State Street ranked first, highlighting the fact that
size can benefit both borrowers and beneficial owners if handled

"We appreciate this recognition by ISF and our clients - both borrowers
and lenders -- and we feel it is a reflection of State Street's ability
to provide outstanding service and risk managed solutions," said Edward
J. O'Brien, executive vice president and head of securities finance for
State Street. "Our top-quality staff, global presence and in-depth
knowledge of the markets in which we operate are key assets that enable
us to effectively manage relationships and meet client needs."

ISF is a quarterly magazine providing independent coverage of the
securities financing and repurchase, prime brokerage and hedge fund
industries. It is the only magazine dedicated to reporting all
regulatory, tax legal and market developments in this business. ISF also
operates a daily updated Web site,

State Street lends securities in more than 35 markets around the world
via a global network of trading locations -- providing clients with
around-the-clock opportunities, as well as regional expertise and
experience. State Street has provided securities lending services since
1974, and has developed an industry-leading approach to risk and return
management. Its securities lending program is available to all
institutional investors worldwide, whether their assets are held in
custody at State Street or elsewhere. For more information, visit

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 $9.0
trillion in assets under custody and $1.2 trillion in assets under
management, as of September 30, 2004, State Street operates in 24
countries and more than 100 markets worldwide. For more information,
visit State Street's Web site at


Contact Information

    State Street Corporation
    Hannah Grove, 617-664-3377
    Carolyn Cichon, 617-664-8672