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Presentation to the Suffolk County Council Pension Fund Committee 14 February 2008 Simon Brooks / Simon Baylis

2 AGENDA Introductions Corporate Overview State Street Service Team Current Service Breadth 2007 Overview Securities Lending programme Existing month end Reporting Package Month end Reporting Timescales Questions

3 State Street Corporation Founded in 1792 Over 20,000 employees worldwide Office locations in over 26 countries Over 3,000 clients in over 60 countries AA- Senior Debt rating 23% ten-year total annualised return to stockholders 16% ten-year growth rate in dividends per share CORPORATE OVERVIEW Facts as of 01/01/2008 Investment Servicing Investment Research & Trading Investment Management Investment Solutions Investment Servicing £7.7 trillion assets under custody Custody, Accounting and Administration Consulting, Outsourcing and Implementation Transfer Agency and Recordkeeping Performance, Risk and Compliance Capital, Lending and Liquidity Investment Management (SSgA) £1 trillion managed Largest institutional investment manager worldwide Expertise across all asset classes, risk strategies and investment approaches

4 STATE STREET SERVICES TEAM Customer Management –Simon Brooks – Client Executive –Simon Baylis – Head of IFS –Stewart Godfrey – Client Service Manager – IFS –Simon Baggaley – Client Service Associate – IFS –Eugene Ferris – Client Service Associate – IFS Performance Measurement –Louis Paul-Hill – Customer Manager Securities Lending –Manoj Katwa – Customer Manager

5 CURRENT SERVICE BREADTH Core Custody Services –Custody administration and Asset safety –Settlement Administration –Income Collection –Corporate Action processing –Tax Reclamation Value Added Services –Investment Accounting Reporting & tailored reporting package –Performance Measurement Revenue Added Services –Securities Lending –Cash Management

6 SUFFOLK COUNTY COUNCIL PENSION FUND – 2007 OVERVIEW Q Preferential interest Conditions applied Securities Lending Programme initiated Q2 Appointment of TM Termination of 2 Investment Managers Appointment of 2 new Investment Managers Q3 New Managers – start date Q4 Two new Currency managers appointed Total Holdings: 497 segregated holdings, 48 Pooled Fund holdings Transactions: / 103 Markets 13 Active Accounts

7 SECURITIES LENDING PROGRAMME Agency Lending Programme commenced 25/01/07 Fully Collateralised Lending Constraints Lending inventory - GBP500M Revenue Fee Split 70/30 Monthly reporting Earnings 2007 – GBP46,000 Revenue projections 2008 – GBP105,000 Q1-12%, Q2-53%, Q3-22%, Q4-13%

8 EXISTING MONTH END REPORTING PACKAGE Suite of audited Investment Accounting Reports – Manager level – BD12 – Trial Balance – Full NAV rec – Purchase and Sales – Income Received / Receivables – Unrealised / Realised gains and losses Movement of Investment Reports – Manager level Full NAV reconciliation reporting – Manager level SORP Reporting – MOI – Manager Level Mystatestreet Monthly Report Card

9 Month End Reporting Timescales

10 Late Account Closures

Q & A

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