STATE STREET CORP — Director's Dealing 2007

Jan 3, 2007

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: STATE STREET CORP (STT)
CIK: 0000093751
Period of Report: 2006-12-21

Reporting Person: Malerba James J (SVP and Controller)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5571	Direct
Common Stock	217	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$48.07	2014-12-15	Common Stock (4000)		Direct

Footnotes

F1: The reporting person indirectly beneficially owns 217 shares of State Street common stock through State Street Corporation's 401(k) plan, as of December 29, 2006 The plan accounts for interest in units of shares and a small amount of cash. As a result, the number of underlying shares may fluctuate from time to time.

F2: Options are exercisable in three equal annual increments commencing on December 15, 2006