State Street Global Philanthropy Reports Second Quarter Grants Totaling over $1.8 Million; 141...

Business Editors

State Street Corporation (NYSE: STT), the world's leading specialist in meeting the needs of sophisticated global investors, announced today that its Global Philanthropy Program awarded 141 grants totaling over $1.8 million during the second quarter of 2002. The program

makes contributions to nonprofit organizations that provide targeted community service initiatives, primarily in communities where State Street offices are located. Each year, State Street directs at least 1.5% of the company's pre-tax profits to the State Street Foundation in order to help address its communities' needs. Global Philanthropy is one of the programs that the Foundation funds.

State Street's grants were awarded to nonprofit organizations in five countries that provide services in the areas of education and job skills training, neighborhood revitalization, youth programs, health and human needs, civic improvement, and arts and culture. The Global Philanthropy Program has made 208 grants totaling over $4.1 million, year to date. Since the State Street Foundation was launched 25 years ago, over 4500 grants have been awarded worldwide totaling over $66.3 million.

State Street's Global Philanthropy Program has established 28 individual contribution committees in 13 countries including Australia, Belgium, Canada, Cayman Islands, Germany, Japan, Luxembourg, People's Republic of China (Hong Kong SAR), Singapore, South Africa, Switzerland, the United Kingdom and the United States. The U.S. contribution committees are located in Alameda, CA; Atlanta, GA; Boston, MA; Chicago, IL; Hartford, CT; Kansas City, MO; Los Angeles, CA; Manchester, NH; Naples, FL; Newport Beach, CA; New York, NY; Osterville, MA; Princeton, NJ; St. Louis, MO; and Winston-Salem, NC.

Among the programs awarded funding by various contribution committees in the second quarter were:

In Canada:

Big Brothers and Big Sisters of Toronto - to support the teaming of volunteer adults with children on the waiting list and to help develop a new strategic plan

In the People's Republic of China:

Oxfam Hong Kong (Hong Kong SAR) - to sponsor Trailwalker, a multi-day walking event (Nov. 8-10) that is Oxfam Hong Kong's primary fundraiser

In Singapore:

City Harvest Community Services Association - to support CHCSA's Education Centre, which prepares low-income secondary school students for the country's "O" level exam - mandatory for admittance to higher educational opportunities in Singapore

In the United States (office location in parentheses):

Oakland Police-Community Activities League (Alameda, California) - to support the summer camp and summer programs of the PCAL

Hands On Atlanta (Atlanta, Ga.) - to support the ongoing development and management of the organization's volunteer service provision

American Lung Association (Boston, Mass.) - to sponsor 60 disadvantaged children from Boston who have asthma to Camp Chest Nut in Becket, Mass.

Father Flanagan's Boys Home (Chicago, Ill.) - to support the efforts of the Girls and Boys Home National Hotline

Hole in the Wall Gang Fund (Hartford, Conn.) - to support the HITWG Summer Camp for children and their families who are coping with various diseases

The Greater Kansas City Community Foundation (Kansas City, Mo.) - to support the Neighborhood Self Help Fund, which promotes small projects to build stronger, safer communities

Florence Crittenton Center (Los Angeles, California) - to outfit the Center's Cougar Gym with new exercise equipment for the young residents

Concord Community Music School (Manchester, NH) - to expand the school's service to underserved children in Manchester between the ages of 2-18

I.M. Sulzbacher Center for the Homeless (Naples, Fla.) - to support the Center's Culinary Arts and Employment Training Program

Hoag Hospital Foundation (Newport Beach, Calif.) - to provide programs and services to the underinsured/uninsured, homeless, at-risk children and seniors

New York Public Library (New York, NY) - to support the Library's Page Program, which assists urban young adults by giving them part-time work experience

Lower Cape Cod Community Development Corporation (Osterville, Mass.) - to support the organization's Affordable Housing Initiative

Project Linus (Princeton, NJ) - to sponsor the program's "Kids Helping Kids" Quilt Mural project to help children suffering serious illness and trauma

Wyman Center (St. Louis, Mo.) - to support the Center's community-based youth services in the Near Southside neighborhood of St. Louis.

Hall-Woodward Elementary School (Winston-Salem, NC) - to cover tuition fees for 10 Hispanic students to participate in the MusArt After School Enrichment Program

Following is the complete list of organizations that received grants from the Global Philanthropy Program in the second quarter of 2002, by location:

Canada: Big Brothers Big Sisters Toronto; Serve Canada

People's Republic of China (Hong Kong SAR): Hong Kong PHAB; Oxfam Hong Kong

Singapore: City Harvest Community Services Association

United Kingdom: Scottish Community Foundation

United States:

Alameda, California: Alameda County Health Care Foundation; Community Children's Center; East Bay Community Foundation; Friends of Alameda County CASA; Hospice of Contra Costa; Lincoln Child Center; Oakland Police-Community Activities League; St. Mary's Center

Atlanta, Georgia: Georgia Residential Child Care Association Foundation; Girls Incorporated of Greater Atlanta; Hands On Atlanta; Prevention Child Abuse Georgia

Boston, Massachusetts: Adolescent Consultation Services; All Dorchester Sports League; American Lung Association of Massachusetts; Arts In Progress; Black Ministerial Alliance of Greater Boston; Boston Homeowner Services Collaborative; Boston Medical Center; Boston Urban Youth Foundation; Chelsea Human Services Collaborative; Child Care Resource Center; Children's Museum; City Year Boston; Community Education Center; Dorchester House Multi-Service Center; East Boston Ecumenical Community Council; Ellis Memorial & Eldredge House; Family Service of Greater Boston; Federated Dorchester Neighborhood Houses; Fenway Community Health Center; Generations Incorporated; Horizon Initiative; Institute of Contemporary Art; Interseminarian Project Place; Junior Achievement; Latin American Health Institute; Lawyers' Clearinghouse on Affordable Housing and Homelessness; Lesson One Foundation; Massachusetts Association of Community Development Corporations; McCormack Center for the Arts at the Strand Theatre; Morgan Memorial Goodwill Industries; Museum of Afro-American History; National Foundation for Teaching Entrepreneurship; Nativity Preparatory School; Rogerson Communities; Saint Francis House; Self Esteem Boston Educational Institute; Urban Outreach; Wellesley College; WGBH Educational Foundation; YouthBuild Boston

Chicago, Illinois: Center for Nonprofit Management; Father Flanagan's Boys Home

Hartford, Connecticut: Camp Courant; Corporation for Independent Living; Equistrides Therapeutic Riding Center; Hole In The Wall Gang Fund; Leadership, Education and Athletics in Partnership; Make-A-Wish Foundation; Nutmeg Big Brothers Big Sisters

Kansas City, Missouri: American Humanics; Big Brothers and Sisters of Kansas City; Children's Center for the Visually Impaired; Greater Kansas City Community Foundation; Kansas City Neighborhood Alliance; Leukemia & Lymphoma Society

Los Angeles, California: Florence Crittenton Center; LA Works

Manchester, New Hampshire: Boy Scouts of America/Daniel Webster Council; Concord Community Music School; Court Appointed Special Advocates of NH; Greater Manchester Family YMCA; New Hampshire Council for the Humanities

Naples, Florida: Eden Institute Foundation; Immokalee Child Care Center Foundation; Sulzbacher Center for the Homeless

Newport Beach, California: Academy of Business Leadership; HFH of Orange County; Hoag Hospital Foundation

New York, New York: Big Brothers Big Sisters of NYC; Boys & Girls Club of America; City Meals-on-Wheels; Mission of Mercy; NY Public Library Astor Lenox and Tilden Foundations; St. Aloysius; St. Francis of Assisi Friary

Osterville, Massachusetts (Cape Cod): American Cancer Society; Cape & Islands Chamber Music Festival; Chatham Historical Society; Community Connections; Community Foundation of Cape Cod; Friends of Children's Cove; Healthcare Foundation of Cape Cod; Lower Cape Cod Community Development Corporation; Orleans Historical Society

Princeton, New Jersey: McCarter Theatre Company; NJ Council of Organizations and Schools for Autistic Children; Prevention Education Incorporated; Project Linus NJ; Seeing Eye; Women Aware

St. Louis, Missouri: Kidzlink; St. Louis Cardinals Community Fund; St. Louis Wheelchair Athletic Association; Wyman Center; YMCA of Greater St. Louis

Winston-Salem, North Carolina: Hall-Woodward Elementary School; Winston-Salem Children's Chorus; YWCA of Winston-Salem & Forsyth County

State Street Corporation (NYSE: STT) is the world's leading specialist in providing sophisticated global investors with investment servicing, investment management, investment research and trading services. With $6.3 trillion in assets under custody and $808 billion in assets under management, State Street is headquartered in Boston, Massachusetts and operates in 22 countries and 100 markets worldwide. For more information, visit State Street's web site at www.statestreet.com.