CWI SPDR MSCI ACWI

State Street Global Advisors (State Street)(a), the investment management arm of State Street Corporation (NYSE: STT), today announced the launch of the SPDR� MSCI ACWI (All Country World Index) ex-US ETF (AMEX: CWI). The ETF�s benchmark is the MSCI All Country WorldSM ex USA Index, which includes developed and emerging markets stocks outside the United States. The CWI ETF is the first of its kind to offer comprehensive international exposure to both of these markets. �This new ETF complements our diverse offering of international ETFs, which span developed and emerging economies, by providing the most comprehensive international equity exposure available in a single trade,� said James Ross, senior managing director of State Street Global Advisors. �In fact, investors can cover the entire spectrum of global equity markets by combining CWI with our SPDR� DJ Wilshire Total Market ETF (AMEX: TMW).� The SPDR� MSCI ACWI ex-US ETF is the latest in State Street�s series of international ETF offerings. Recently, State Street launched the SPDR� DJ Wilshire International Real Estate ETF (AMEX: RWX) on the American Stock Exchange� (Amex�). RWX is based on the Dow Jones Wilshire ex-US Real Estate Securities IndexSM and is the first ETF to monitor performance of publicly traded global real estate securities outside of the United States. State Street currently manages more than $113 billion ETF assets worldwide (as of December 31, 2006) and is one of the largest providers in the US and globally, with a market share of more than 20 percent.(b) State Street continues to experience significant demand for these investment strategies and today manages a total of 69 ETFs worldwide. About State Street Global Advisors 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 $1.7 trillion in assets under management as of December 31, 2006, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 25 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com. (a) The Funds are advised by SSgA Funds Management Inc., a registered investment adviser and a wholly owned subsidiary of SSgA. (b) Source: SSgA Advisor Consulting Services as of December 31, 2006 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. Changes in real estate values or economic conditions can have a significant negative effect on issuers in the real estate industry, which may affect the fund, all of which may be magnified in international markets. Funds investing in a single sector may be subject to more volatility than funds investing in a diverse group of sectors. 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. Dow Jones Wilshire exUS RESI is an index designed to provide measures of non-U.S. real estate securities that serve as proxies for direct real estate investing. Dow Jones & Company, Inc. is the owner of the trademarks and copyrights relating to the Dow Jones Indexes. The Dow Jones Wilshire IndexesSM are calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company, Inc. and Wilshire Associates Incorporated. Dow Jones and Wilshire are the respective service marks of Dow Jones and Wilshire Associates and have been licensed for used by State Street Bank and Trust Company. Inclusion of a company in the Dow Jones Wilshire Indexes does not in any way reflect an opinion of Dow Jones or Wilshire on the investment merits of the company State Street Global Markets, LLC, member NASD, SIPC, is distributor for all SSgA� Funds and SPDRs products except for SPDR S&P 500, Dow Diamonds and Select Sector SPDRS which are distributed by ALPS Distributors, Inc., a registered broker-dealer. The SPDR� MSCI ACWI ex-US ETF is based on an MSCI Index. This ETF is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such financial product or any index on which such financial product is based. The prospectus contains a more detailed description of the limited relationship MSCI has with State Street. Before investing, 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. 10268-0108