Company Press Release

BOSTON and CHICAGO, March 30, 2010 – State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE: STT) today announced that it has entered into an agreement with Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, under which Nuveen will become sub- adviser for municipal bond SPDR® exchange traded funds (ETFs) along with other municipal bond investment strategies managed by State Street Global Advisors.

Under the terms of the agreement, Nuveen Asset Management, a recognized leader in the municipal bond market, will be responsible for managing the assets of five existing municipal bond SPDR ETFs under oversight of SSgA Funds Management, Inc. (“SSgA FM”) and the Board of Trustees for each SPDR ETF. SSgA FM will continue to serve as the investment adviser for the municipal bond SPDR ETFs. With nearly $2 billion in assets, SSgA’s municipal bond ETFs will be re-branded as SPDR Nuveen municipal ETFs and include:

• SPDR Barclays Capital Municipal Bond ETF (TFI);
• SPDR Barclays Capital California Municipal Bond ETF (CXA);br/> • SPDR Barclays Capital New York Municipal Bond ETF (INY);
• SPDR Barclays Capital Short Term Municipal Bond ETF (SHM);
• SPDR S&P VRDO Municipal Bond ETF (VRD).

The sub-advisory agreement, which has been approved by the Board of Trustees and shareholders for each SPDR ETF, will become effective on April 1, 2010.

“Bringing together Nuveen’s extensive experience in managing municipal bond portfolios with State Street’s leadership in exchange traded funds creates an unmatched offering in municipal bond portfolios,” said Jim Ross, senior managing director at State Street Global Advisors. “

To ensure a seamless transition, Tim Ryan, lead portfolio manager of the municipal bond SPDR ETFs and a Unit Head for State Street Global Advisors’ Municipal Bond Group, will transition to Nuveen Asset Management as senior vice president. As of December 31, 2009, Nuveen managed nearly $70 billion in municipal bond securities.

“We are pleased to be teaming up with State Street, the firm that created the first exchange traded fund, to provide investors and investment professionals with precise investment products that combine the advantages of municipal bonds and ETFs,” said Bill Huffman, chief operating officer and co-head of Nuveen Asset Management. “The synergies created by this partnership will benefit investors and create exciting new opportunities for collaboration.” Anthony Rochte, senior managing director at State Street Global Advisors commented. “Through this arrangement, investors will benefit from the combined intellectual capital of Nuveen and State Street Global Advisors, a value proposition that positions our very successful family of municipal bond SPDR ETFs for continued growth.”

State Street Global Advisors is one of the largest ETF providers globally with assets under management for SPDR ETFs totaling more than $204 billion as of December 31, 2009.

About Nuveen Investments
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high- quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed nearly $145 billion of assets on December 31, 2009. For more information, please visit the Nuveen Investments website at www.nuveen.com.

About State Street Global Advisors
State Street Global Advisors, the investment management business of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.9 trillion in assets under management at December 31, 2009, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 26 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.