Global Advantage Emerging Markets High Value Fund Named Best Emerging Markets Equity Fund
MUNICH and VIENNA -- 03/04/2008
Fund from State Street Global Advisors secures first place at the Morningstar Fund Awards in Vienna

State Street Global Advisors the investment management arm of State Street Corporation (NYSE: STT) and the largest institutional fund manager in the world1, today announced that its Global Advantage Emerging Markets High Value fund has been ranked the best fund in the Emerging Markets Equity category at this year's Morningstar Fund Awards in Austria.

The Morningstar Fund Award 2008 is awarded by the independent rating agency Morningstar and the business magazine trend-INVEST. The awards were distributed at an awards ceremony last night in Vienna as part of a gala event, with Morningstar rating all funds registered in Austria. The rating scores are based on the return, the risk, and the cost structure of a fund compared to its peer group.

"This honor once again reflects the ongoing collaboration of our portfolio management and research professionals to achieve success in our quantitative-active strategies," said Klaus Esswein, senior managing director at State Street Global Advisors in Munich. Our continued success as a leading provider for such strategies reflects our commitment to help institutional investors meet their investment objectives."

The GAF Emerging Markets funds are managed by State Street Global Advisors; Keppler Asset Management, Inc. is the investment advisor.

1Source: Pensions & Investments magazine for total assets as of December 31, 2006

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