State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), today announced the release of a new report titled, 2009 ETF Mid-Year Review: Follow The Flows, which details five key trends that helped shape the exchange traded funds industry during the first half of 2009.

According to the research report, U.S. ETF asset flows were marked by a continued shift away from Large Cap and Developed International equities and into emerging markets and defensive assets classes that include commodities and investment grade corporate bonds during the first half of the year.

"Asset flows into ETFs remained strong during the first half of the year, as demand for transparent, liquid, and cost-efficient investment vehicles climbed,” said Anthony Rochte, senior managing director at State Street Global Advisors. "Looking ahead, recent ETF asset trends suggest a renewed concern surrounding inflation and a bullish outlook for emerging market economies.”

Key themes highlighted in State Street’s 2009 ETF Mid-Year Review, include:

• The continued success of inverse/leveraged products;
• A practical approach for commodity exposure;
• Increasing acceptance and application of fixed income ETFs;
• Resurgence in demand for emerging market products; and
• Inflationary fears persist.

For more information on these developments and others emerging in the ETF industry, financial professionals can download a free copy of the 2009 ETF Mid-Year Review at SPDR^® University (www.spdru.com), State Street’s award-winning online educational resource for investment professionals.

State Street Global Advisors is one of the largest ETF providers in the United States and globally. As of June 30, 2009, US assets under management for SPDR ETFs totaled more than $143 billion.

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 $1.6 trillion in assets under management at June 30, 2009, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 25 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

The "SPDR^®” trademark is used under license from the McGraw-Hill Companies, Inc. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill. Standard & Poor S&P SPDR S&P 500 and Select Sector SPDRs are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use by State Street Bank and Trust Company.

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Bond funds contain interest rate risk (as interest rates rise bond prices usually fall). There are additional risks for funds that invest in mortgage-backed and asset-backed securities including the risk of issuer default; credit risk and inflation risk.

Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be suitable for all investors. The strategy will seek exposure to commodities through commodity-linked derivatives. Derivatives and commodity-linked derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous.

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.

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.

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.

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