State Street Pledges Support for Tsunami Recovery Effort

    Business Editors

    BOSTON--(BUSINESS WIRE)--Jan. 5, 2005--State Street Corporation (NYSE: STT), the world's leading specialist in meeting the needs of institutional investors, today announced it has made a financial commitment to support the relief efforts following the earthquake and resulting tsunamis in South Asia. This includes a direct grant of $300,000 from the State Street Foundation to the American Red Cross International Response Fund and $100,000 that will be used to match employee donations through a special disaster relief Matching Gifts program.
    "As a global company, with offices throughout the Asia Pacific region, we feel that it is very important to provide financial assistance to the vital relief work being undertaken by the American Red Cross," said Ronald E. Logue, chairman and chief executive officer of State Street. "We're also supporting our employees' ability to continue to contribute through the establishment of a special Matching Gifts program."
    As part of a global humanitarian network, the American Red Cross responds to international emergencies with caring assistance, skilled expertise and inventive solutions. The organization donated an initial $30 million in aid and has raised more than $79.2 million in donations through its International Response Fund since December 26. Red Cross aid workers are also in the affected regions to reunite families, maintain water sanitation and distribute relief materials.
    "State Street established its Disaster Relief Emergency Assistance Fund in 2001 for urgent situations such as this one," said George A. Russell, Jr., State Street's executive vice president and head of the State Street Foundation. "The Fund allows us to make grants quickly as global emergencies like this arise."
    The most recent grants from the Disaster Relief Emergency Assistance Fund prior to this were made in the fall of 2004 to aid victims in the Southeastern U.S., Cayman Islands and Haiti following a series of severe hurricanes. The company has also contributed to relief efforts in the American Midwest and the Mid-Atlantic states after tornadoes and hurricanes in 2003. State Street also donated to Oxfam Hong Kong for its work with the SARS Prevention and Capacity Building Program in Beijing China; to flood victims in Germany and earthquake victims in India and El Salvador; and to those affected by the terrorism acts in the U.S. on September 11, 2001.

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CONTACT: State Street Corporation RICHARD PEARL, 617 664 3107

KEYWORD: MASSACHUSETTS INDUSTRY KEYWORD: BANKING SOURCE: State Street Corporation

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