BOSTON, MA -- 02/14/2008

Appointments Strengthen SSgA's Global Fixed Income Organization; Reflect Commitment to Asset Class Leadership

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), and the largest institutional fund manager in the world, today announced the appointment of six senior executives to its Global Fixed Income team. The appointment of three current SSgA executives and three industry veterans new to the company puts in place a strong and experienced senior team to lead the Global Fixed Income organization. The six executives will report to Mark Marinella, SSgA’s newly appointed Global Fixed Income CIO.

“Today’s announcement represents a significant step forward in our plan to strengthen and enhance our fixed income operations across research, portfolio strategy and risk management,” said Marinella. “By drawing on the experience and depth within SSgA and attracting outstanding individuals to our organization, we have established a talented and experienced group to lead our global fixed-income activities.”

The new team includes current SSgA executives John Kirby and Kevin Anderson, who will co-lead Global Fixed Income Beta Solutions. Anderson also will co-lead European and Pan-Asian regions with SSgA veteran William Street. Joining SSgA are William Cunningham, who has been appointed Global Head of Credit Strategies and Fixed Income Research; Thomas Hagstrom, who has been appointed Global Head of Fixed Income Business Management; and Brett Wander who has been appointed Global Head of Active Fixed Income and Alpha Strategies.

“It’s gratifying to recognize John, Kevin and Bill for the leadership they have demonstrated throughout their careers at SSgA,” said Marinella. “And we welcome Bill, Tom and Brett to SSgA. We know we will benefit from the wealth of knowledge and experience they bring to our organization.”

Marinella stated, “The entire Global Fixed Income team looks forward to working together with the entire SSgA organization to provide our clients around the world with products and services that will help them achieve their investment objectives.”

SSgA Global Fixed Income Leadership Team
Tom Hagstrom joins SSgA from RBS/Greenwich Capital, where he was managing director and a founding member of the credit business. Previously, he worked for State Street Research and Management where he was head trader and member of the Fixed Income Leadership Group. His responsibilities there also included investment management responsibilities in the Emerging Markets group. Earlier in his career, Hagstrom held executive positions with Lehman Brothers and Credit Suisse/First Boston. In his new role, Hagstrom will have chief operating officer responsibilities, including oversight of all processes, transactions and deliverables.

Brett Wander joins SSgA from Loomis Sayles, where he led that firm’s fixed income alpha strategies. He brings 20 years of alpha-driven investment experience covering a variety of sectors within the fixed income market. In his new role, Wander is responsible for government, mortgage-backed, global, municipal, and liability-driven fixed income investment strategies.

Bill Cunningham joins SSgA from State Street’s Global Markets group where he worked to build a fixed income broker/dealer effort. In his new role, Cunningham is responsible for helping to expand SSgA’s global fixed income research. He is also responsible for directing portfolio management efforts that involve specific active pursuit of alpha in high-yield and investment-grade bonds.

John Kirby joined SSgA in 1995 and most recently has been vice president and head of the Fixed Income Index team. A 25-year veteran of the investment management business, he has more than 15 years of experience in the fixed-income markets.

Kevin Anderson has headed International Fixed Income Beta Solutions for SSgA. Previously, he managed the structured fixed income team in London. Anderson joined SSgA in 2001 from Schroders, where he was responsible for fixed income risk management and the development of quantitative strategies.

Bill Street most recently was head of International Rates, with responsibility for leading the Active Rates teams in London and the U.S., along with the Global Credit function. He joined SSgA in 2007 from Unicredit, where he was head of fixed income and proprietary trading.

As of December 31, 2007, SSgA manages more than $259 billion in fixed income assets. SSgA’s Global Fixed-Income team consists of more than 65 professionals worldwide.