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To: Amy J who wrote (181095)	5/12/2005 2:05:41 PM
From: GVTucker	Respond to of 186894

OT, Amy, RE: It says individuals also use State Street - what is the typical profile of an individual investor that uses STT bank? I don't think that State Street has much individual business. It's probably in the money management area, trust management, stuff like that. What does it mean to have assets in custody as oppose to managing assets - are these custody trusts, right? The custody business is mostly just keeping securities. Once a portfolio gets to a certain size it no longer makes sense for a brokerage firm to keep the securities. You have a transaction with a brokerage firm, they transfer the securities to your name, and you keep the securities at State Street or wherever else you keep your shares. Sometimes this is physical shares, other times it is just an entry in their books.