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State Street Wins Phoenix Asset Accounting Contract

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NU Online News Service, March 24, 2003, 12:43 p.m. EST – State Street Corp., Boston, has won a contract to provide investment accounting and regulatory reporting for $14 billion in assets held by Phoenix Life Insurance Company, a unit of The Phoenix Companies Inc., Hartford.

The deal includes $9 billion in Phoenix general account assets and $5 billion in separate account assets.

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State Street has already been providing custody services and related services for $8 billion in additional Phoenix assets, State Street says.