September 2008

CUSTODY 2008: State Street Directory

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STATE STREET
State Street Corporation
One Canada Square, Canary Wharf, London E14 5AF, UK
Tel: +44 207 416 2500
Web: www.statestreet.com

Country of origin: USA
Operating in Europe: more than 25 years

Senior executives:
James S. Phalen (London)   Executive Vice President
Timothy J. Caverly (Luxembourg)   Executive Vice President
Peter O’Neill (London)   Executive Vice President
Michael S. Walsh (London)   Senior Vice President

Business Split: Custody represents 83% (December 2007) of wider organisation revenues
Parent’s other main business lines:
                       Asset management (17%)

European subcustody arrangements:
AUT    Bank Austria Creditanstalt AG, Vienna
BEL    Deutsche Bank AG, Netherlands
            (operating through the Amsterdam branch
            with support from its Brussels branch)
BUL    ING Bank N.V., Sofia branch
CRO   Privredna Banka Zagreb d.d., Zagreb
CYP    BNP Paribas Securities Services, S.A., Athens
            (operating through its Athens branch)
CZE    Ã?Å?eskoslovenská obchodní banka, a.s.,
             Prague
DEN   Skandinaviska Enskilda Banken AB,
            Stockholm (via its Copenhagen branch)
EST    AS Hansabank, Tallinn
FIN      Skandinaviska Enskilda Banken AB
            (operating through its Helsinki branch)
FRA    Deutsche Bank AG, Netherlands
            (operating through the Amsterdam branch
            with support from its Paris branch)
GER   Deutsche Bank AG, Frankfurt
GRE   National Bank of Greece S.A., Athens
HUN   UniCredit Bank Hungary Zrt., Budapest
ISL      Kaupthing Bank hf., Reykjavik
IRL      Bank of Ireland, Dublin
ITA      Deutsche Bank S.p.A., Milan branch
LAT     A/s Hansabanka, Riga
LTU    SEB Bankas, Vilnius
LUX    Clearstream Banking
            (Luxembourg securities only)
NED   Deutsche Bank AG, Amsterdam
NOR   Skandinaviska Enskilda Banken AB
            (operating through its Oslo branch)
POL    Bank Handlowy w Warszawie S.A., Warsaw
POR   Banco Comercial Português S.A., Lisbon
ROM   ING Bank N.V., Bucharest branch
SVK    Ã?Å?eskoslovenská obchodní banka, a.s.,
            Bratislava branch
SLO    UniCredit Bank Slovenija d.d., Ljubljana
SPA    Deutsche Bank S.A.E., Barcelona
SWE   Skandinaviska Enskilda Banken AB,
            Stockholm
SWI     UBS AG, Zurich; Credit Suisse, Zurich
UK      State Street Bank and Trust Company, UK branch

Domestic markets that are strategically important in the near future
                       UK
                       Germany
                       France

Services offered in addition to Custody
                       Securities lending
                       Equity finance
                       Cash management
                       Collateral management
                       Tax reclamation
                       Commission recapture
                       Performance attribution
                       Proxy voting
                       Compliance monitoring
                       Fund admin services
                       Transfer agency
                       Distribution support
                       Transition management

Products/services showing the greatest increase in demand in past twelve months:
                       Hedge fund administration

Products and services for development over the next twelve months:
                       Derivatives servicing

©2008 Funds Europe