State Street to Partner with Community Organizations across Eight Countries in Global Volunteer Day

Business Wire, Dec 5, 2002

Business Editors

BOSTON--(BUSINESS WIRE)--Dec. 5, 2002

Over 600 Employees To Partner with and Assist Community Organizations

Supports United Nations' International Volunteer Day

State Street Corporation (NYSE: STT), the world's leading specialist in meeting the needs of sophisticated global investors, announced today that over 600 employees from 23 State Street offices in eight countries will partner with charitable organizations to contribute to local community outreach efforts. The volunteer program, which is State Street's second annual Global Volunteer Day, is organized in conjunction with the United Nations' International Volunteer Day.

"We are extremely pleased by our employees' enthusiastic response to our second annual State Street Volunteer Day," said David A. Spina, State Street Chairman and Chief Executive Officer. "We actively engage with our communities around the world both as a partner and as a leader. Global Volunteer Day is a terrific opportunity to coordinate a company-wide effort to help improve the well-being of people in the communities where we do business."

State Street employees from offices in California, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, as well as in Belgium, Canada, Germany, Japan, Luxembourg, Hong Kong and the United Kingdom will volunteer their time and skills today with several important community-focused organizations. Volunteers will work with organizations such as the Salvation Army, The American Red Cross, Caritas, Food Bank Japan, and the Heep Hong Society, to coordinate over 60 global service projects including food and clothing drives, working in hospitals and soup kitchens, and contributing to the beautification of shelters and schools.

State Street's second annual Global Volunteer Day coincides with International Volunteer Day, proclaimed by the United Nations General Assembly in 1981, to facilitate the vital contributions of volunteers worldwide, and to recognize their achievements. State Street's Global Philanthropy Program, which has Contributions Committees in 28 of its worldwide offices, has granted nearly US$70 million to non-profit organizations since 1977. State Street launched its Global Outreach volunteer program in February 2001 to build upon its commitment to serve the communities in which it does business. The program provides volunteer opportunities and support to employees who wish to contribute their time and skills to worthwhile organizations that care for the needs of less advantaged citizens in our society.

State Street Corporation (NYSE: STT) is the world's leading specialist in providing sophisticated global investors with investment servicing and investment management. With $5.7 trillion in assets under custody and $707 billion in assets under management, State Street is headquartered in Boston, Massachusetts and operates in 22 countries and over 100 markets worldwide. For more information, visit State Street's web site at www.statestreet.com.