STT State Street Corporation

State Street Global Advisors (SSgAa), the investment management arm of State Street Corporation (NYSE: STT) and the largest institutional fund manager in the world�, today announced the launch of the SSgA Core Edge Equity Fund, a long-short (130/30) mutual fund that seeks to achieve long-term capital appreciation over the course of an economic cycle. The SSgA Core Edge Equity Fund will invest its assets, including proceeds received from short sales of securities, primarily in large and medium-capitalization securities; the underlying valuation or business fundamentals of which indicates prospects for growth. The equities that the fund owns should equal as much as 130 percent of the fund�s net asset value at any given time. The fund plans to short sell the securities of companies with apparent deteriorating business fundamentals and/or valuations. The replacement cost of all securities sold short should equal approximately 30 percent of the fund�s net asset value at any time. �The SSgA Core Edge Equity Fund offers mutual fund investors access to State Street�s unmatched experience as a disciplined manager of long-short equity strategies for institutional clients,� said James Ross, senior managing director at State Street Global Advisors. �By removing the long-only constraint from the stock selection process, the Core Edge Equity Fund is designed to provide an increase in expected returns with a risk level that is moderately higher than that of the S&P 500 Index.� Edge strategies, State Street�s version of short-extension or 130/30 approaches, introduce a limited amount of short selling in order to take advantage of a negative viewpoint in the stock ranking process while providing capital for additional long positions of the same magnitude to maintain 100 percent exposure to a benchmark. State Street has more than 15 years of experience in managing long-short equity investment strategies, and as of December 31, 2007, the firm managed $12.8 billion in Edge strategies. �Since the launch of our first Edge strategy, we�ve seen significant interest for access to long-short strategies, as intermediaries and advisors have increasingly demanded a bridge between moderate risk/moderate value-added long-only strategies and higher-risk hedge funds as a way to generate higher returns,� said Anthony Rochte, senior managing director at State Street Global Advisors. SSgA established itself as an early leader in the 130/30 market segment having launched its first strategy in 2004. Today SSgA offers Edge strategies across a wide array of geographical segments and across the active risk space. About State Street Global Advisors State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $2.0 trillion in assets under management as of December 31, 2007, 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. a The Funds are advised by SSgA Funds Management Inc., a registered investment adviser and a wholly owned subsidiary of State Street Corporation. The SSgA Core Edge Equity Fund presents different risks than those typically associated with long-only equity investing. Specifically, this Fund may utilize leverage as a result of short selling. The use of leverage as a result of short selling could increase the volatility of the Fund's share price and cause the Fund to incur a loss. The Fund may actively trade portfolio securities and will typically have a turnover rate of 150% - 240%. Tax-sensitive investors may wish to consult a tax professional prior to investing. Before investing, consider the funds� investment objectives, risks, charges and expenses. To obtain a prospectus which contains this and other information, call 1-866-787-2257 or visit www.ssgafundss.com. Read it carefully. Distributor: State Street Global Markets, LLC, member FINRA, SIPC �Source: Pensions & Investments magazine, based on assets under management as of December 31, 2006. 10767-0109