State Street Global Advisors Launches streetTRACKS MSCI Europe Small Cap Exchange-Traded Fund - New Exchange-Traded Fund To Begin Trading On Euronext Paris

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 launch of a new smallcap exchange-traded fund (ETF), the streetTRACKS MSCI Europe Small Cap ETF (SMC FP) which will commence trading today on Euronext Paris. The streetTRACKS MSCI Europe Small Cap ETF provides investors with exposure to the 453(1) underlying securities of the MSCI Europe Small Cap Index.

A market innovator and today one of the leading providers of ETFs worldwide, SSgA manages more than $71 billion in ETF assets worldwide.

“This new product joins SSgA’s comprehensive range of European ETF products which together seek to offer sophisticated institutional and retail investors the broadest exposure to the European markets,” said Alain Dubois, European director of marketing for Exchange Traded Funds at State Street Global Advisors.

SSgA’s array of European ETF products include 10 streetTRACKS MSCI sector ETFs, the streetTRACKS MSCI Europe ETF, the streetTRACKS AEX Index ETF, and two ETFs managed for UNICO’s i-tracker funds.

“The introduction of this new small-cap product further demonstrates SSgA’s commitment to the ETF market, and to manufacturing and administering complex, yet easy-to-use investment products that only our skills and experience can deliver,” said Dubois.

StreetTRACKS MSCI Europe Small Cap is the eleventh tracker launched in 2005 on NextTrack, the Euronext compartment for exchange-traded funds. To date, 62 funds have been listed on NextTrack, covering everything from country indices to geographical areas and business sectors.

(1) As of May 31, 2005

About State Street Global Advisors
State Street Global Advisors, the investment management group of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.4 trillion in investment programs and portfolios (as of March 31, 2005), State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 28 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

About Euronext
Euronext, the first pan-European exchange, results from the September 2000 merger of equity and derivatives markets in Amsterdam, Brussels and Paris. BVLP, the Portuguese exchange and LIFFE, the international derivatives exchange, joined Euronext in 2002. Euronext offers services that include listing of financial instruments, trading in securities and derivatives, data dissemination and IT support. Measured by value and number of trades processed through its central order book, Euronext is the largest cash equity market in Europe. Euronext.liffe, the derivatives business of Euronext, is Europe’s second largest derivatives exchange by volume and the value of trading.