SSgA just launched its SPDR Lehman International Treasury Bond ETF on the American Stock Exchange. The new fund is part of the fixed income family of SPDRs.

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State Street Global Advisors (SSgA(1)), the investment management arm of State Street Corporation (NYSE: STT - News) and the largest institutional fund manager in the world(2), today announced that the SPDRŽ Lehman International Treasury Bond ETF (Ticker: BWX) will begin trading on the American Stock Exchange (Amex) on October 5, 2007. The fund is the first international bond ETF available to US investors.

Designed to provide precise, low-cost* access to international fixed income, an asset class that has historically had a low correlation with US stock and bond markets(3), the SPDR Lehman International Treasury Bond ETF seeks to track the total return performance of the Lehman Brothers Global Treasury Ex-US Capped Index. The Index tracks fixed-rate local currency sovereign debt of investment grade countries outside of the US. As of August 31, 2007, the Index provided exposure to 674 issues from 18 countries denominated in 11 currencies.

"The SPDR Lehman International Treasury Bond ETF offers unmatched fixed income diversification that spans a wide range of developed and emerging countries," said James Ross, senior managing director at State Street Global Advisors. "In addition to providing investors with an opportunity to react to interest rate movements overseas, the SPDR Lehman International Treasury Bond ETF also can be used as a US dollar hedge."

With an annual expense ratio of 0.50 percent, the SPDR Lehman International Treasury Bond ETF complements State Street's growing family of fixed income ETFs. On September 13, 2007, State Street launched the SPDR Lehman Municipal Bond ETF, and in May 2007, five new SPDRs providing precise, low-cost access to an array of fixed income segments and maturities began trading. These funds include:

* SPDRŽ Lehman 1-3 Month T-Bill (BIL)
* SPDRŽ Barclays Capital TIPS ETF (IPE)
* SPDRŽ Lehman Aggregate Bond ETF (LAG)
* SPDRŽ Lehman Intermediate Term Treasury ETF (ITE)
* SPDRŽ Lehman Long Term Treasury ETF (TLO)

State Street Global Advisors has managed fixed income index funds since 1984. The firm manages more than $222 billion(4) in total fixed income globally and more than $114 billion(5) in ETF assets worldwide.

About State Street Global Advisors

State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT - News), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.9 trillion in assets under management as of June 30, 2007, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 25 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

(1) The Funds are advised by SSgA Funds Management Inc., a registered investment adviser and a wholly owned subsidiary of State Street Corporation. For more information visit www.spdretfs.com.

(2) Source: Pensions & Investments magazine, based on assets under management as of December 31, 2006.

(3)Source: SSgA Strategy & Research

(4) As of June 30, 2007

(5) As of July 31, 2007

ETFs trade like stocks, are subject to investment risk and will fluctuate in market value.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; and inflation risk.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets

*Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.

Diversification does not ensure a profit or guarantee against loss.

Lehman Brothers and Lehman Brothers Inc. are trademarks of Lehman Brothers Inc. and have been licensed for use in connection with the listing and trading of the SPDR Lehman ETFs on the Amex. The products are not sponsored by, endorsed, sold or promoted by Lehman Brothers Inc. and Lehman Brothers Inc. makes no representation regarding the advisability of investing in them.

The "SPDR" trademark is used under license from The McGraw-Hill Companies, Inc. ("McGraw-Hill"). No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill.

State Street Global Markets, LLC, member FINRA, SIPC is distributor for all SPDRs products and is a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR shares, MidCap SPDRs and Dow Diamonds, all unit investment trusts and Select Sector SPDRs.

Before investing, carefully consider the funds' investment objectives, risks, charges and expenses. A prospectus, which contains this and other important information about the fund can be obtained by calling 866.787.2257. Read it carefully before investing.  

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