Company Press Release

BOSTON--(BUSINESS WIRE)--State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced the launch of 10 new SPDR exchange-traded funds (ETFs) that began trading on the American Stock Exchange today [July 22, 2008]. With the launch of these new international sector ETFs, State Street’s family of SPDR ETFs will number 80, including 31 that provide access to global and international markets.

The 10 new international sector SPDR ETFs offer a complete suite of precise tools to gain access to investment opportunities outside of the United States benchmarked to a series of the S&P World ex U.S. Broad Market Indices, these SPDR ETFs are market cap weighted, include only non-U.S. holdings and utilize the widely recognized Global Industry Classification Standard, or GICS as it is more commonly known.

“Developed in response to demand from investors seeking targeted exposure to sectors that do not include US-listed securities, our international sector SPDR ETFs offer the opportunity to make precise, cost-effective tactical and strategic allocations that can help manage portfolio risk and improve returns,” said James Ross, senior managing director at State Street Global Advisors. “Having launched the industry’s first sector ETFs in 1998, we are pleased to enhance our family of international ETFs with the addition of these new international investment tools.”

The new offerings include:

SPDR S&P International Consumer Discretionary Sector ETF, "IPD," Index includes more than 990 non-U.S. consumer discretionary companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Consumer Staples Sector ETF, "IPS," Index includes more than 330 non-U.S. consumer staples companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Financial Sector ETF, "IPF," Index includes more than 1,000 non-U.S. financial services companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Health Care Sector ETF, "IRY," Index includes more than 330 non-U.S. health care companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Industrial Sector ETF, "IPN," Index includes more than 1,200 non-U.S. industrial companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Materials Sector ETF, "IRV," Index includes more than 640 non-U.S. materials companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Technology Sector ETF, "IPK," Index includes more than 650 non-U.S. technology companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Telecommunications Sector ETF, "IST," Index includes more than 70 non-U.S. telecommunications companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Utilities Sector ETF, "IPU," Index includes more than 130 non-U.S. utilities companies with market capitalizations of at least $100 million. 0.50% expense ratio

SPDR S&P International Energy Sector ETF, "IPW," Index includes more than 300 non-U.S. energy companies with market capitalizations of at least $100 million. 0.50% expense ratio

State Street Global Advisors is one of the largest ETF providers in the United States and globally. As of June 30, 2008, US assets under management in State Street’s ETFs totaled more than $138.5 billion – up from $102.1 billion year over year.

About State Street Global Advisors

State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), 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 at June 30, 2008, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 27 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

Note to Editors: SPDR® Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. Offered by State Street Global Advisors, SPDR ETFs provide professional investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as the industry pioneer, State Street—in partnership with the American Stock Exchange—created the first ETF in 1993 (SPDR S&P 500 – Ticker SPY). Since then, we’ve sustained our place as an industry innovator through the introduction of many ground-breaking products, including first-to-market with gold, international real estate, international fixed income and sector ETFs. SPDR ETFs are managed by SSgA Funds Management, Inc, a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company.

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

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. Diversification does not ensure a profit or guarantee against loss.

Because of their narrow focus, sector funds tend to be more volatile than broadly diversified funds and generally result in greater price fluctuations than the overall market.

Investments in mid-sized companies may involve greater risks than those in larger, better known companies, but may be less volatile than investments in smaller companies.

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

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.

Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. A prospectus that contains this and other information about the fund may be obtained by calling 866.787.2257. Please read the prospectus carefully before investing. Diversification does not protect against loss.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Contacts
State Street Corporation
Marie McGehee, 617-664-1898
or
River Communications
Troy Mayclim, 914-686-5599 

Edited by: Neil Anderson, Managing Editor


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