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New Enhancements Provide Comprehensive Access to Services for the High Net Worth Market

BOSTON--(BUSINESS WIRE)-- State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today enhancements to its wealth management service offerings that build on its comprehensive suite of services. State Street currently supports more than $250 billion in assets under custody and administration for more than 500 customers within the high net worth market.

State Street Wealth Connect(R) provides seamless access to State Street through a customizable web-based platform that is fully integrated with State Street's investment servicing solutions including global custody, accounting and corporate actions monitoring. Users can view and create custom reports and queries to analyze accounts, holdings, transactions and event information. In addition, the service provides on-demand client statements as well as additional transparency into underlying security positions through reporting on exposure and tax impact. Additional services, such as messaging and document delivery, help wealth managers to communicate directly with their customers through this secure portal. State Street WealthConnect can be customized as a full-service model or as a targeted set of services to meet the unique needs of each customer.

"Our wealth management customers are increasingly looking for a comprehensive service that helps them manage regulatory requirements, optimize their business processes and provide expanded functionality and reporting," said Steve Nazzaro, senior vice president of State Street's wealth manager services business. "The enhancements that State Street has made to its WealthConnect offering enables our customers to focus on asset management and growth instead of middle- and back-office functions."

The expanded service offering includes customized interfaces and white- label capabilities for wealth managers including registered investment advisors, trust companies, and private wealth management firms and their high net worth customers. Existing customers can access the system via the my.statestreet.com web interface. State Street is targeting to release additional functionality to the WealthConnect Platform within the next year including performance and analytics, administrative workstation and portfolio management tools.

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $17.9 trillion in assets under custody and administration, and $1.7 trillion in assets under management at September 30, 2009, State Street operates in 27 countries and more than 100 geographic markets worldwide. For more information, visit State Street's website at www.statestreet.com.

    Source: State Street Corporation