State Street Enhances Its SPDRs Offering With New Emerging Markets ETF

BOSTON--(Business Wire)--
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 (less than) $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(R) 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

State Street Corporation
Marie McGehee, 617-664-1898
or
River Communications
Troy Mayclim, 914-686-5599

Copyright Business Wire 2008