STT State Street Corporation

State Street Global Alliance, LLC, (Global Alliance) the strategic venturing partnership jointly owned by State Street Global Advisors (SSgA) and Stichting Pensioenfonds ABP (ABP), today announced a commitment of US$100 million in acquisition capital and US$1 billion in seed capital by its partners to further expand Global Alliance. Through this commitment of additional financial resources, Global Alliance is actively seeking additional opportunities for investment. Formed in 2001, Global Alliance is a unique partnership that seeks to invest in early stage asset management firms with cutting-edge investment strategies in an effort to generate private equity-like returns. Global Alliance complements the investment capabilities and intellectual capital of SSgA, while offering value-added performance to ABP�s pension plan assets. Global Alliance companies benefit from the distribution and infrastructure support of SSgA and the support of ABP. �The structure of Global Alliance is a win-win scenario in which SSgA and ABP can access the capabilities and expertise of smaller, more entrepreneurial firms, while simultaneously providing our member companies with financial resources and distribution support that they wouldn�t otherwise be able to access,� said Jared Chase, chairman of Global Alliance. �Our successful track record, coupled with the role that our member companies play in generating alpha for our clients, has motivated SSgA and ABP to commit additional funds to this partnership.� The combined assets under management of Global Alliance companies have posted a compound annual growth rate in excess of 50 percent since its founding. Earlier this year, Global Alliance marked its five-year anniversary. Today its member companies collectively manage more than US$18 billion in assets (as of September 30, 2006). �ABP, together with SSgA, recognized very early that the smaller, niche firms offering non-traditional strategies are often where the greatest opportunities lie for value creation,� said Paul Spijkers, CIO, Alternative Investments of ABP. �Global Alliance offers its member companies an attractive partnership structure with strong incentives and an established platform for growth.� Global Alliance consists of seven portfolio companies �five majority-owned and two minority investments � all of which are focused on continuous new product and strategy development. In each case, the portfolio companies are separately branded and separately capitalized, and the management of each firm owns a significant percentage of the company. The majority companies are: Advanced Investment Partners, LLC, a leader in active quantitative equity strategies; Rexiter Capital Management Limited, a London-based investment management company specializing in active emerging markets investments; Shott Capital Management, LLC, a specialist in post-venture distribution management and private equity partnership investing; SSARIS Advisors, LLC, a provider of quantitative absolute return strategies; The Tuckerman Group, LLC, a direct real estate investment and REIT securities manager. Global Alliance�s two minority investments include: GovernanceMetrics International, a global corporate governance research and ratings firm; Innovest Strategic Value Advisors, an internationally recognized sustainability research and sub-advisory firm. For more information, please visit www.ssgaglobalalliance.com. About State Street Global Advisors State Street Global Advisors, the investment management arm of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With US$1.6 trillion in assets under management as of September 30, 2006, 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. About ABP ABP is the pension fund for employers and employees in service of the Dutch government and the educational sector. With an invested capital of more than �200 billion, ABP is the third largest pension fund in the world. Their 2.6 million participants have the assurance of income security against disability, death and pension. The fund is based on solidarity and non-profit. ABP�s main office is in Heerlen (southern part of the Netherlands) with branches in Amsterdam, New York and Hong Kong (as of 1 January 2007). For more information on ABP Investments please visit www.abp.nl