Market Overview

Charles River Development to be acquired by State Street Corporation

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Complementary offerings combine to deliver an interoperable,
front-to-back client investment servicing platform for Buy-Side
investment firms

Charles River Development, provider of the Charles River Investment
Management Solution (Charles
River IMS
), announced today a definitive agreement to be acquired by
State Street Corporation (NYSE:STT). The acquisition, which is subject
to regulatory approvals and customary closing conditions, is expected to
be completed in the fourth quarter of 2018.

The acquisition will combine Charles River's front and middle office
Software as a Service (SaaS) capabilities with State Street's extensive
front, middle and back office capabilities to deliver a comprehensive
end-to-end interoperable Buy-Side platform.

"The synergy between our firms provides the market with a major new
differentiating offering that will change the way the buy side
operates," said Peter Lambertus, CEO of Charles River. "State Street's
commitment to investment in R&D is also a big plus. In today's SaaS
technology environment, Charles River's hosted platform provides for
up-to-date software, data provisioning, management, open integration and
optimal operations which relieves clients of the cost and burden of
on-premises operations. These SaaS capabilities will play a major role
in the overall end-to-end offering."

The platform integration capabilities will allow clients to use
different supplier components and services as desired. Charles River
will remain committed to supporting its clients as it does today while
offering the extended end-to-end capabilities.

About Charles River

Institutional, wealth, asset owner and alternative investment firms use
the Charles River IMS to manage more than $25 Trillion in assets. The
major components of the Charles River IMS include portfolio decision
support, order management, trading, compliance, post-trade settlement,
IBOR, performance measurement/attribution, risk, collateral management,
data provisioning, data management and others.

Headquartered in Burlington, Massachusetts, Charles River supports over
300 clients in more than 40 countries with 750 employees in 11 regional
offices. For more information, please visit www.crd.com.

About State Street Corporation

State Street Corporation (NYSE:STT) is the world's leading provider of
financial services to institutional investors including investment
servicing, investment management and investment research and trading.
With $33.9 trillion in assets under custody and administration and $2.7
trillion* in assets under management as of June 30, 2018, State Street
operates globally in more than 100 geographic markets and employs over
38,000 worldwide. For more information, visit State Street's website at www.statestreet.com/platformforgrowth.

* Assets under management include the assets of the SPDR® Gold ETF and
the SPDR® Long Dollar Gold Trust ETF (approximately $33 billion as of
June 30, 2018), for which State Street Global Advisors Funds
Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State
Street Global Advisors are affiliated.

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