State Street Global Advisors (State Street), the investment management arm of State Street Corporation (NYSE: STT), today announced the launch of the SPDR S&P Emerging Markets Small Cap ETF (Ticker: EWX) on the American Stock Exchange. The SPDR S&P Emerging Markets Small Cap ETF seeks to track S&P/Citigroup Emerging Market Small Cap < $2 Billion Index, which includes more than 1,600 companies with market capitalizations below $2 billion domiciled in 26 countries. Its expense ratio is 0.65%. "The SPDR S&P Emerging Markets Small Cap ETF is a key addition to our growing family of SPDR ETFs,” said James Ross, senior managing director at State Street. "In addition to helping investors further diversify an international equity portfolio, EWX offers access to a market segment that has been the source of increasing interest, as small cap companies are often well positioned to take advantage of the strong growth occurring within emerging markets.” The SPDR S&P Emerging Markets Small Cap ETF compliments State Street’s existing suite of emerging markets ETFs, which now includes eight SPDR ETFs that provide precise, low cost access to segments of the market that have previously been inefficient or not readily accessible. These emerging markets SPDR ETFs include: SPDR S&P BRIC 40 ETF (BIK); SPDR S&P China ETF (GXC); SPDR S&P Emerging Asia Pacific ETF (GMF); SPDR S&P Emerging Europe ETF (GUR); SPDR S&P Emerging Latin America ETF (GML); SPDR S&P Emerging Markets ETF (GMM); and SPDR S&P Emerging Middle East & Africa ETF (GAF). State Street is one of the largest ETF providers in the United States and abroad with more than $159 billion of ETF assets under management.(a) Today, State Street’s family of SPDR Exchange Traded Funds allows investors to choose from more than 66 ETFs globally. For more information on SPDR exchange traded funds visit www.spdretfs.com. 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 trillion in assets under management at March 31, 2008, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Toronto, Montreal, Munich, Paris, Singapore, Sydney, Tokyo 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. Offered by State Street Global Advisors, 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. (a) As of March 31, 2008 SPDR ETFs are advised by SSgA Funds Management Inc., a registered investment adviser and a wholly owned subsidiary of State Street Corporation. ETFs trade like stocks, are subject to investment risk and will fluctuate in market value. Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets. Small company issues can be subject to increased volatility and considerable price fluctuations. Securities focused on a single country involve heightened risk and volatility. Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs. The "SPDR” 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. 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. Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. 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. 10880-0509