"The fall in this month's index that we can see so far was driven by investors based in Europe, where confidence has fallen below the key 100 threshold for the first time since August 2013."

BOSTON, August 25, 2015 - State Street Global Exchange today released the results of the State Street Investor Confidence Index® (ICI) for July 2015.

The Global ICI decreased to 108.7, down 4.5 points from July's revised reading of 113.2. Confidence among North American investors decreased with the North American ICI falling 0.8 points to 119.1, down from July's revised reading of 119.9. Meanwhile, the Asia ICI rose by 3.5 points to 93.0 while the European ICI fell 6.8 points to 93.5.

The Investor Confidence Index was developed by Kenneth Froot and Paul O'Connell at State Street Associates, State Street Global Exchange's research and advisory services business. It measures investor confidence or risk appetite quantitatively by analyzing the actual buying and selling patterns of institutional investors. The index assigns a precise meaning to changes in investor risk appetite: the greater the percentage allocation to equities, the higher risk appetite or confidence. A reading of 100 is neutral; it is the level at which investors are neither increasing nor decreasing their long-term allocations to risky assets. The index differs from survey-based measures in that it is based on the actual trades, as opposed to opinions, of institutional investors.

"In the wake of the devaluation of the renminbi and the continued turmoil in commodities, investors have exhibited an increasingly cautious tone in August with the Global ICI falling 4.5 points," commented Froot. "How this effects the Fed is yet to be seen; certainly the deteriorating overhang of global growth and the pull back in emerging markets makes a decision to raise rates increasingly precarious."

"The cut off to calculate this month's investor confidence index reading was August 19th, so we have only captured some reaction to China's decision to change its FX regime," added Michael Metcalfe, senior managing director and head of Global Macro Strategy, State Street Global Markets. "The fall in this month's index that we can see so far was driven by investors based in Europe, where confidence has fallen below the key 100 threshold for the first time since August 2013."

About the State Street Investor Confidence Index®

The index is released globally at 10 a.m. Eastern time in Boston on the last Tuesday of each month. More information on the State Street Investor Confidence Index is available at http://www.statestreet.com/ideas/investor-confidence-index.html.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.7 trillion in assets under custody and administration and $2.4 trillion* in assets under management as of June 30, 2015, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street's web site at www.statestreet.com.

* This AUM includes assets (approximately $26.7 billion as of June 30, 2015), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.

The views expressed in this material are the views of State Street through the period ended August 25, 2015 and are subject to change based on market and other conditions.

This news announcement contains forward-looking statements as defined by United States securities laws, including statements about the financial outlook and business environment. Those statements are based on current expectations and involve a number of risks and uncertainties, including those set forth in State Street's 2013 annual report and subsequent SEC filings. State Street encourages investors to read the corporation's annual report, particularly the section on factors that may affect financial results, and its subsequent SEC filings for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this press release speak only as of the date hereof, August 25, 2015 and the company will not undertake efforts to revise those forward-looking statements to reflect events after this date.

CORP-1567

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