State Street Global Advisors Appoints Key Executives to Global CIOs for Equities, Fixed Income, Currency/Asset Allocation and Cash

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), and the largest institutional fund manager in the world, announced today that it has enhanced its organizational structure to expedite clients’ access to expertise and investment strategies by asset class on a global basis. The new structure will enable clients to gain a more comprehensive view of investment style options, research, risk/return parameters and strategy implementation for SSgA’s core asset class areas and better position clients to adapt to the dynamics of the increasingly complex global markets. Effective immediately, the following executives have been named Global CIOs for their respective asset classes: Alistair Lowe, Asset Allocation and Currency CIO; Mark Marinella, Fixed Income CIO; Steve Meier, Cash CIO and Arlene Rockefeller, Equities CIO. In addition, Shawn Johnson, chair of SSgA’s Investment Committee will also oversee the firm’s Advanced Research Center and Product Engineering Group. These executives have deep expertise in their respective fields and more than 100 years of combined experience in the investment management industry. Four are long-standing industry and SSgA veterans, while Mark Marinella joins from State Street’s investment research and trading arm, where he led fixed income trading initiatives. Marinella has more than two decades of fixed income experience at major firms such as BlackRock and CS First Boston. Lowe, Marinella and Meier will join Johnson and Rockefeller as members of SSgA’s Executive Management Group (EMG). All five will report directly to William Hunt, president and CEO, State Street Global Advisors. "While our current structure has served us well for the past several years, this new investment management alignment reflects a growing need from our clients for deeper and more focused leadership by asset class. In addition to our asset class CIO appointments, organizational changes around other key aspects of the investment process such as our Advanced Research Center and product engineering will enable us to meet the realities of fast-changing and increasingly volatile financial markets,” said Hunt. As Global Fixed Income CIO, Marinella will also take over the responsibilities of Paul Greff. Greff, who led SSgA’s fixed income team for the past two years and Michael O’Hara, head of active fixed income, are leaving the firm. In his new role, Marinella will be responsible for all fixed income strategies and products, and will focus on extending SSgA’s leadership position in new innovative areas such as liability driven investments (LDI) and addressing the recent underperformance experienced in a number of SSgA’s active fixed income strategies. Sean Flannery, regional CIO for North America, has left SSgA to pursue other opportunities. Hunt continued, "One of our great strengths is the depth and breadth of talent across SSgA and the entire State Street organization. This realignment of our investment leadership reflects the capability and readiness of our professionals to serve the evolving needs of our clients and the industry overall.” SSgA has experienced rapid growth over the past five years, both in terms of geographic expansion as well as in the array of investment strategies it offers to clients. At the same time, the investment management industry has undergone tremendous change, affording SSgA new opportunities to deliver solutions to its clients. "The last two years have represented the strongest 24 months in SSgA’s history. While we are disappointed that a number of our active fixed income strategies performed below our expectations amid unprecedented market conditions this year, we remain committed to significantly strengthening this key area of focus for our clients,” said Hunt. As of September 30, 2007 SSgA manages $2 trillion in assets for clients worldwide of which more than $200 billion is in fixed income with $36 billion in active fixed income. Background Notes for Editors Shawn Johnson is the Chairman of the SSgA Investment Committee, and Director of Institutional Fiduciary Services. He is a member of State Street's Major Risk Committee as well as SSgA's Independent Fiduciary Committee and the SSgA/Tuckerman Real Estate Investment Committee. In addition to managing SSgA's team of economists and strategists, Shawn oversees SSgA's Advanced Research Center, Product Engineering as well as private equity investments, including CitiStreet, Wilton and ADCM. Prior to joining SSgA, Shawn was Vice President of Business Development for MGA Software; a Manager for Braxton Associates, Deloitte & Touche's Corporate Strategy Consulting Group; President of TMT Software Company; and a Manager for General Electric's Aerospace Business Group. He also served as an Intelligence Officer with the United States Naval Reserve. Shawn earned a BS in Aerospace and Ocean Engineering and an MS in Electrical Engineering from Virginia Polytechnic Institute and State University (Virginia Tech), as well as an MBA from the Amos Tuck School of Dartmouth College. Shawn is also a trustee of Berea College. Alistair Lowe is Global Asset Allocation and Currency CIO for State Street Global Advisors responsible for the management and development of asset allocation and currency strategies for institutional clients worldwide. His responsibilities include the design and management of portable alpha and other overlay strategies. Previously, Mr. Lowe was head of the Investor Solutions Group at SSgA, which specializes in tax-efficient indexing and efficient implementation of active equity strategies. He is a member of SSgA's Investment Committee and Senior Management Group. Mr. Lowe, who has been working in the investment management field since 1985, joined SSgA in 1996 from NatWest Investment Management, Inc. He earned an undergraduate degree in Economics and a postgraduate degree in Computer Science at Cambridge University (Churchill College), U.K. Mark A. Marinella is Global Fixed Income CIO for SSgA responsible for all fixed income strategies and products as well as extending SSgA’s leadership position in new innovative areas such as liability driven investments (LDI). Mr. Marinella has more than 20 years of fixed income experience. Prior to joining State Street, he was head of cash management for BlackRock providing leadership for over $75 billion in Institutional Money Market assets and responsible for portfolios management, business development and client service. Between 2003 and 2005 Mr. Marinella was Chief Investment Officer for State Street Research and Management, in charge of the fixed income group, where he provided significant leadership and is credited with developing an inclusive and highly customer-focused culture. He spent almost 10 years at CS First Boston in the fixed income trading area where he was responsible for expanding CSFB's institutional fixed income business before becoming a fixed income portfolio manager in 1995. Mr. Marinella is a Chartered Financial Analyst and holds a master’s degree in marketing and finance from Boston College and a bachelor’s degree in economics from the University of Massachusetts, Boston. Steven R. Meier, CFA, FRM is Global Cash CIO at State Street Global Advisors. Mr. Meier, who joined SSgA in 2003, has more than 24 years of experience in the global fixed income markets. Previously he was a member of the firm's Global Fixed Income portfolio management team, with responsibility for US cash and securities lending cash collateral portfolio management. Prior to joining SSgA, Mr. Meier was a managing director in State Street's Global Markets group responsible for developing its global fixed income business. He also served as chief operating officer of State Street's electronic bond trading subsidiary, Advanced Auctions LLC, and was a member of its European subsidiary's Board of Directors. He received extensive capital markets experience and held senior positions in trading and investment banking in New York and London while working for Merrill Lynch and Credit Suisse First Boston for nearly 12 years. He also served on TradeWeb LLC's Executive Board while head of CSFB's global electronic trading unit. In addition, Mr. Meier was a senior global bond Portfolio Manager with Oppenheimer Capital and member of its Fixed Income Strategy Group. A member of SSgA’s Senior Management Group, Mr. Meier has earned the Chartered Financial Analyst designation, is a certified Financial Risk Manager (FRM), a member of the Boston Security Analysts Society, the Association for Investment Management and Research (AIMR) and the Global Association of Risk Professionals (GARP). He holds a BBA from Hofstra University, an MBA from Indiana University's Graduate School of Business and an Advanced Certificate of Investment Management from the London Business School. Arlene Rockefeller, CFA, is Global Equities CIO at State Street Global Advisors. She has served as senior managing director for Global Equities for the past three years. Ms. Rockefeller joined SSgA in 1982 and has served in a variety of positions. As head of the U.S. Structured Products group, she was instrumental in developing trading strategies for index changes, quantitative management of taxable strategies, exchange traded funds and portfolio construction methodologies. She has also led an Enhanced Investment Strategies group and was appointed to lead the Evaluation Group, an independent group responsible for analyzing and improving on performance attribution for active and enhanced equity portfolios. She is a member the SSgA Investment Committee, the Investment Board of the Tuckerman Group, and a member of SSgA’s Executive Management Group. Ms. Rockefeller holds a Bachelors degree in Statistics and a Masters degree in Informational Science from the University of Chicago. She also holds a Masters of Business Administration degree, with honors, from Boston University and earned the Chartered Financial Analyst designation. 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 September 30, 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. The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results. This news release may contain forward-looking statements, as defined by federal securities laws, including statements about the financial outlook and business environment. 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