SYDNEY -- 09/10/2008

State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE:STT) and the largest institutional fund manager in the world¹, today announced the expansion of its global structured products (GSPG) team with the appointments of Vessela Tasker and Ken Chuah as portfolio managers.

The appointments reflect the continued growth of SSgA's range of index strategies to help satisfy large institutional investors' increasing appetite for new forms of passive portfolio strategies that access new markets, benchmarks and risk premia, such as hedge fund beta and private equity.

"We are pleased to complement the strengths and skills of our GSPG team with the additions of Vessela Tasker and Ken Chuah, " said Mr. Rob Goodlad, managing director of State Street Global Advisors in Australia. "Their backgrounds build on the analytical skills of the GSP team and will help ensure that the high-quality research supporting our new beta products continues. The depth of Ms. Tasker's and Mr. Chuah's skills sets and experience will also help enhance our indexing capabilities across the Australasian region, and enable us to continue to deliver outcomes that meet our clients' expectations," Mr. Goodlad continued.

Mr. Chuah will be responsible for managing both domestic and indexed equity portfolios on behalf of Australian and New Zealand clients. Before joining SSgA, he was a quantitative analyst at Deutsche Asset Management Australia where he enhanced the investment process from a qualitative and quantitative perspective, developed new products and improved portfolio management tools.

Prior to joining Deutsche his experience included a position as institutional business development manager (Asia ex-Japan) for Colonial First State Investments and as a portfolio manager at Rothschild Australia Asset Management where he managed and contributed to research and investment analysis for its asset allocation overlay. Mr. Chuah attended the Business School at the University of Melbourne where he completed his Master of Business with Honours Average in Finance and Economics. He also has a Bachelor of Computer Science from Cornell University, School of Engineering in the US.

Ms. Tasker will be responsible for managing both domestic and international indexed equity portfolios on behalf of Australian and New Zealand clients. Prior to this current role, Ms. Tasker was a research and quant analyst at Investors Mutual Limited (IML), an active value equity manager in Australia where she was responsible for company research and valuation with a particular focus on the resources sector as well as creating and maintaining internal stock screens for industrial stocks.

Before joining IML in 2005, Ms. Tasker worked as an associate for one year at Aronson+Johnson+Ortiz (AJO), an institutional investment manager with more than US$20bn in assets based in Philadelphia. She was also involved in portfolio accounting and performance measurement. Prior to joining AJO in 2004, Ms. Tasker was an associate at S&P Corporate Value Consulting and performed company valuations for various purposes including but not limited to M&A, Purchase Price Allocations, tax and other accounting purposes. Ms. Tasker holds a Bachelor of Science in Finance and Management Information Systems with Honours from Drexel University in the US. She has passed Level I of the Chartered Financial Analyst examination.

¹ Source: Pensions & Investments magazine for assets under management as of December 31, 2007