STT State Street Corporation

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), announced today the appointments of Thomas V. Stolberg, CFA, and Charles M. Haley, CFA, as senior high yield analysts in its Global Fixed Income group. They report to Matthew Steinaway, vice president and head of credit research at State Street Global Advisors. Stolberg and Haley will enhance the management of SSgA�s high yield assets and further advance the firm�s global active credit capabilities. Both have more than ten years of investment management experience. Together with Scott Richards, senior high yield portfolio manager, they will also expand SSgA�s asset class coverage into leveraged loans and assist in the development of new products in this space. Stolberg joins SSgA from Boldwater Capital Management, L.P., where he served as a senior analyst. He previously held the role of senior vice president in the high yield division of State Street Research and Management (currently BlackRock). He received a bachelor of arts, cum laude, from Middlebury College in 1983. Haley also comes to SSgA from Boldwater Capital Management, L.P., where he served as credit analyst covering a wide variety of industry sectors. Prior to this role, he was vice president and senior high yield analyst with Columbia Management Group. He holds a bachelor of arts, cum laude, in mathematics and classics from Boston College. �Our selection of these two professionals for our active fixed income group resulted from their extensive background in active high yield bond investments and credit analysis,� said Paul Greff, director of Global Fixed Income for State Street Global Advisors. �They will help strengthen our ability to deliver to our clients a comprehensive alpha-generation toolkit comprised of global asset classes, such as high yield and leveraged loans, that are increasing in popularity.� More than a decade ago, SSgA established commingled bond fund structures which separate bond funds by sector and maturity. This structure enabled SSgA to provide its institutional clients with customizable fixed income solutions, often including the use of both passive and active bond strategies for a single client. More recently, SSgA has extended this approach to achieve full separation of alpha and beta in the firm�s fixed income offerings. SSgA continues to be a leader and innovator in institutional investment management. Already a global leader in passive fixed income, the firm has developed a suite of active and absolute return strategies across various fixed income asset classes, as well as portable alpha strategies that permit the �porting� of alpha from one strategy to another through the use of derivatives. In recent years, SSgA also moved into the management of structured fixed income products such as Collateralized Debt Obligations (CDOs), which are backed by pools of bonds, loans or other assets. SSgA manages more than $725 billion in global fixed income assets (as of September 30, 2006). Its fixed income group comprises more than 120 investment professionals around the world, including more than 40 in the U.S. 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 $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