8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report:    October 16, 2003

State Street Corporation

(Exact Name of Registrant as Specified in its Charter)

Massachusetts	0-5108	04-2456637
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

225 Franklin Street, Boston, Massachusetts	02110
(Address of principal executive offices)	(Zip code)

Registrant's telephone number, including area code:   (617) 786-3000

Item 5.    Other Events.

On October 16, 2003, Registrant issued a statement that it had elected Kennett F. Burnes to the Board of Directors of the Corporation.

The press release issued by Registrant in connection with the announcement is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 7.     Financial Statements and Exhibits.

            (c) Exhibits.

            99.1     Form of press release dated October 16, 2003

Signatures

            Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STATE STREET CORPORATION
By:   /s/Frederick P. Baughman
Name:	Frederick P. Baughman
Title:	Senior Vice President, Controller and Chief Accounting Officer

Date:  October 21, 2003

2

EXHIBIT INDEX

Exhibit

99.1     Form of press release dated October 16, 2003

3

EX-99.1

225 Franklin Street
Boston, MA 02110-2804
United States of America

FOR IMMEDIATE RELEASE

For Release:	FOR IMMEDIATE RELEASE
Contact:	Media:	Arlene C. Roberts
		+1 617/664-3933

STATE STREET ELECTS KENNETT F. BURNES
TO ITS BOARD OF DIRECTORS

Boston, MA, October 16, 2003 – State Street Corporation (NYSE: STT), the world’s leading specialist in meeting the needs of sophisticated global investors, announced today that Kennett F. Burnes, chairman, president and chief operating officer of Cabot Corporation, has been elected to its Board of Directors, effective immediately.

“We are very pleased to welcome Kennett to the Board of Directors,” said David A. Spina, chairman and chief executive officer of State Street Corporation. “His extensive business and legal experience will make him a valuable asset to our Board.”

Prior to joining Cabot, Burnes, 60, was a partner at the Boston-based law firm Choate, Hall & Stewart, where he specialized in corporate and business law for nearly 20 years.

“I am delighted to join State Street’s Board of Directors,” said Mr. Burnes. “State Street’s market leadership position, its reputation for outstanding client service, and its strong and dedicated management team make it an important force in global financial services.”

Burnes is vice chairman of the Corporation of the Schepens Eye Research Institute. He currently serves on the Board of Directors of Cabot Corporation and J.K. Adams Co., Inc. and on the Dana Farber Cancer Institute’s Board of Trustees. A member of the Massachusetts Bar Association, Burnes holds both an L.L.B. and B.A. degree from Harvard University.

State Street Corporation (NYSE: STT) is the world's leading specialist in providing sophisticated global investors with investment servicing, investment management, research and analytics and trading services. With $8.8 trillion in assets under custody and $965 billion in assets under management, State Street is headquartered in Boston, Massachusetts and operates in 23 countries and over 100 markets worldwide. For more information, visit State Street's web site at www.statestreet.com.

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