SYDNEY -- 03/19/2008

Team appointments reflect increased focus on product engineering across Australia/New Zealand region

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE:STT) and the largest institutional fund manager in the world, today announced the expansion of its local Product Engineering team.

Chris Robertson joins as a product engineer to assist in the development, marketing and maintenance of products and services to Australian and New Zealand-based clients. Chris has more than 15 years of investment management and research experience gained in Australia and overseas and will have a particular focus on SSgA's active equity strategies. He holds a Masters of Management by Macquarie University and a Bachelor of Business Studies in Finance. Chris is also vice chairman of the Investment and Financial Services Association (IFSA) Performance Group.

Peter Nguyen has been promoted to the role of product engineer support, having previously worked in SSgA's local business development team. Both Chris and Peter will report to Sydney-based Product Engineer Jonathan Shead.

With approximately AU$80 billion* in locally-sourced assets under management, SSgA provides investment management services to more than 300 of Australia's and New Zealand's leading institutional investors, including many of the Pacific's largest superannuation funds. Given the large and sophisticated nature of SSgA's client base, product engineering is an essential component of SSgA's offering that helps managers forge deeper relationships with clients, and to tailor investment solutions to suit the changing investment landscape.

Lochiel Crafter, investment strategist at State Street Global Advisors, said the expansion of the team reflected SSgA's dedication to providing innovative solutions and to working in partnership with large institutional clients. "Through our Product Engineering teams around the world, as well as the work of our global Advanced Research Centre, we continue to invest heavily in ongoing research into active as well as passive strategies as an effort to give our clients the most progressive insights into building and maintaining efficient portfolios," Mr Crafter said.

* As of December 31, 2007

The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results.