State Street Global Advisors Appoints Director of ETF Sales; Move Underscores SSgA's Commitment to Expanding its ETF Business.

BOSTON -- State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT) and one of the largest institutional managers in the world, announced today the appointment of David Sandrew to director of Exchange Traded Fund (ETF) sales. Sandrew will report to Greg Ehret, co-head of SSgA Advisor Strategies.

In this new role, Sandrew will be responsible for coordinating ETF business development initiatives focused on key intermediary and institutional clients. Sandrew will manage a team of ETF product and support professionals.

"David's in-depth knowledge of the ETF industry together with his broad experience in the capital markets makes him the ideal candidate for this key position," said Ehret. "David's expertise as a dedicated member of our team will allow us to significantly expand the reach our ETF business and further enhance the breadth and quality of ETF solutions we provide to our clients."

Sandrew joins State Street Global Advisors from Barclays Bank. While he was director in the bank's Prime Services Group in Equity Finance, he opened and established the bank's prime brokerage office in Boston. Prior to this, Sandrew was responsible for global client relationships on behalf of UBS Warburg LLC's institutional equity division. Previously, he spent eight years at Charles Schwab & Co., where he held several positions, including vice president of Schwab Capital Markets & Trading and Schwab Institutional divisions. Earlier in his career, Sandrew had been a financial advisor.

State Street Global Advisors

State Street Global Advisors, the investment management group of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.4 trillion in investment programs and portfolios (as of June 30, 2005), State Street Global Advisors has investment centres in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 28 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.