STT State Street Corporation

The SPDR® S&P 500 Exchange Traded Fund (ETF) Trust (NYSE: SPY) announced today that the Fund received payment as an authorized claimant from a class action settlement related to Merrill Lynch & Co.

The total amount payable to the Fund is listed below. When the Fund calculates its net asset value (“NAV”) per share on Thursday, June 24, 2010, it is estimated that the Fund’s NAV will be impacted by the receipt of the corresponding payment in the amount stated below based on the shares outstanding as of June 22, 2010.

Fund  

SettlementPayment

 

SharesOutstanding as ofJune 22, 2010

 

Per ShareAmount

SPDR® S&P 500 ETF Trust   $8,853,107   710,832,116   $0.0125

State Street manages more than $204 billion in SPDR ETF assets worldwide (as of March 31, 2010) and is one of the largest ETF providers in the US and globally.

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 $1.9 trillion in assets under management as of March 31, 2010, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 27 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

Note to Editors: SPDR® Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs provide professional investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as the industry pioneer, State Street—in partnership with the American Stock Exchange—created the first ETF in 1993 (SPDR S&P 500 – Ticker SPY). Since then, we’ve sustained our place as an industry innovator through the introduction of many ground-breaking products, including first-to-market successes with gold, international real estate, international fixed income and sector ETFs. SPDR ETFs are managed or marketed by SSgA or SSgA Funds Management, Inc, a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company.

Risk Disclosures

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.

"SPDR®" is a registered trademark of Standard & Poor’s Financial Services LLC ("S&P") and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Standard & Poor’s®, S&P®, SPDR®, S&P 500® and Select Sector SPDRs® are registered trademark of Standard & Poor’s Financial Services LLC and have been licensed for use by State Street Corporation.

Distributor: ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500 shares, MidCap SPDRs and SPDR Dow Jones Industrial Average , all unit investment trusts and Select Sector SPDRs.

Merrill Lynch and ALPS Distributors, Inc. are unaffiliated entities.

References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

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.spdrs.com. Read it carefully.

SPD000223Exp. 7/31/2010CORP-0127