KBE SPDR S&P Bank

Keefe, Bruyette & Woods, Inc., a full service investment bank that specializes in the financial services sector, and a wholly-owned subsidiary of KBW, Inc. (NYSE: KBW), today announced upcoming changes to the KBW Bank Index (Index Symbol: BKXSM, ETF Symbol: KBESM) and KBW Mortgage Finance Index (MFX). Effective prior to the opening of business on Thursday, July 3, 2008, KeyCorp (NYSE: KEY), a component of the BKX, will undergo a share increase based on a recently completed common equity offering. In addition, as Bank of America (NYSE: BAC) has completed its acquisition of Countrywide Financial Corp. (NYSE: CFC), a component of the MFX, CFC will be deleted from the index and replaced with Lender Processing Services (NYSE: LPS). The KBW family of indices and exchange traded funds include: KBW Bank Index (Index Symbol: BKXSM, ETF Symbol KBESM); KBW Capital Markets Index (Index Symbol: KSXSM, ETF Symbol KCESM); KBW Insurance Index (Index Symbol: KIXSM, ETF Symbol KIESM); KBW Regional Banking Index (Index Symbol: KRXSM, ETF Symbol: KRESM) and KBW Mortgage Finance Index (Index Symbol: MFXSM). About KBW KBW, Inc. is the parent of Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and KBW Asset Management. Keefe, Bruyette & Woods, Inc. is a full service investment bank specializing in the financial services industry. Founded in 1962, it is widely recognized as a leading authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. The firm has established industry-leading positions in the areas of research, corporate finance, mergers and acquisitions, as well as sales and trading for financial services companies.