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BOSTON--([ BUSINESS WIRE ])--State Street Corporation, (NYSE: STT), one of the worldas leading providers of financial services to institutional investors, announced today that it has appointed Timothy Donovan to senior managing director and head of real estate fund services for North America. Donovan, who reports to Bhagesh Malde, senior managing director in State Streetas alternative investment solutions group, will help expand State Streetas real estate investment servicing business across North America.

"Alternative asset classes like real estate have increased rapidly in popularity in recent years, as has the complexity of the funds"

aAlternative asset classes like real estate have increased rapidly in popularity in recent years, as has the complexity of the funds,a said Malde. aAs real estate fund managers seek out skilled and experienced administrators to service their funds, we are confident in the extensive real estate experience that Tim brings and in his ability to help expand this core area of our alternatives business.a

Donovan joins State Street from Beacon Residential Management where he served as chief executive officer responsible for the asset management of the companyas real estate portfolio. While at Beacon Residential Management, he also served as chief financial officer leading the companyas middle and back office operations. Donovan has also held a variety of senior level positions in finance and operations at other realty companies.

As the leader of alternative fund administration with approximately $895 billion in alternative assets as of March 31, 2012, State Street provides a complete suite of fund accounting, fund administration, corporate administration, and risk analytics and credit services to institutional investors, hedge fund, private equity and real estate fund managers.

About State Street

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 $23.2 trillion in assets under custody and administration and $2 trillion* in assets under management at March 31, 2012, State Street operates in 29 countries and more than 100 geographic markets. For more information, visit State Streetas web site at [ www.statestreet.com ].

* This AUM includes the assets of the SPDR Gold Trust (approx. $68 billion as of March 31, 2012), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.

The views expressed in this material are the views of Bhagesh Malde and State Streetas Alternative Investment Solutions Group through the period ended May 31, 2012 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

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