State Street Unveils Two New International SPDRs SM, Including The First Capitalization Weighted International Small Cap ETF

BOSTON--(BUSINESS WIRE)--State Street Global Advisors (SSgA)(a), the investment management arm of State Street Corporation (NYSE: STT), today announced two new SPDRs_SM exchange traded funds (ETFs) will begin trading on the American Stock Exchange (Amex) on April 26.

“In providing access to virtually the entire developed international market and the overseas small-cap market, these two new SPDRs are powerful additions for investors looking to build well-diversified portfolios.”

Based upon S&P®/Citigroup® Global Equity Indices, the new SPDRs offer investors precise, low-cost access to developed international markets, including the first capitalization-weighted vehicle covering international small cap equities.

ETF Name	Ticker	Index Country Exposure	Expense Ratio
SPDR® S&P® International Small Cap ETF	GWX	Index includes companies with market capitalizations below $2 billion domiciled in developed countries outside the U.S.	0.60%
SPDR S&P World ex-US ETF	GWL	Index includes more than 5,000 companies domiciled in developed countries outside the U.S., including Canada.	0.35%

“ Offering investors unmatched exposure to developed and emerging markets, our comprehensive family of international ETFs has been met with strong demand,” said James Ross, senior managing director of State Street Global Advisors. “In providing access to virtually the entire developed international market and the overseas small-cap market, these two new SPDRs are powerful additions for investors looking to build well-diversified portfolios.”

With the launch of these two SPDRs, State Street’s family of US-listed ETFs features 53 funds – including a full suite of 16 that offer precise access to international and emerging markets.

State Street manages more than $114 billion of ETF assets worldwide (as of March 31, 2007) and is one of the largest providers in the US and globally, with a market share of nearly 20 percent. (b)

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$1.8 trillion in assets under management as of March 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 SSgA.

(b) Source: SSgA Advisor Consulting Services as of March 31, 2007

ETFs trade like a stock and are subject to market risk.

Foreign investments involve greater risks than US investments, including political and economic risks and the risk of currency fluctuations.

Small company issues can be subject to increased volatility and considerable price fluctuations.

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

The “SPDRs” trademark is used under license from The McGraw-Hill Companies, Inc. (McGraw-Hill). No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill.

Distributor: State Street Global Markets, LLC, member NASD, SIPC.

Before investing, carefully consider the funds’ investment objectives, risks, charges and expenses. A prospectus, which contains this and other important information about the fund can be obtained by calling 866.787.2257. Read it carefully before investing.

10444-0408