STATE STREET CORP — Director's Dealing 2008

Dec 17, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STATE STREET CORP (STT)
CIK: 0000093751
Period of Report: 2008-12-15

Reporting Person: Phalen James S (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-15	Common Stock	M	27400	$33.7187	Acquired	169379	Direct
2008-12-15	Common Stock	F	26217	$35.24	Disposed	143162	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-12-15	Employee Stock Option	$33.7187	M	27400	Disposed	2008-12-17	Common Stock (27400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	762	Indirect

Footnotes

F1: The reporting person indirectly beneficially owns 762 shares of State Street common stock under State Street's 401(k) plan, based on a plan statement dated as of November 30, 2008. The plan accounts for interest in units consisting of shares of State Street common stock and a small amount of cash. As a result, the number of underlying shares may fluctuate from time to time.

F2: The option vested in three equal annual installments commencing 12/17/1999.