State Street Global Advisors Launches Active Canadian Fixed Income Strategy

    MONTREAL, March 13 /CNW/ - State Street Global Advisors (SSgA), the
investment management arm of State Street Corporation (NYSE:   STT), announces
the launch of its Active Canadian Fixed Income strategy, a risk-controlled
approach for core fixed income investors seeking to deliver consistent
risk-adjusted returns. The strategy is designed to add steady returns over the
Scotia Capital Universe Bond Index by taking active positions across multiple
and diverse strategies.

    The strategy aims to generate excess annualized returns of 50 to 75 basis
points over a rolling four-year period. It will take 75 to 100 basis points of
forward-looking active risk to generate an information ratio of greater than
0.8. To achieve its return objectives, the strategy will take diversified
positions via multiple alpha levers, including credit, interest rate and
global bond strategies.

    "Our dynamic portfolio management process combines fundamental,
quantitative and technical analysis to capitalize on true market
inefficiencies," said Carl Bang, senior managing director of State Street
Global Advisors Ltd. (Canada). "This integrated approach, combined with the
depth of our credit research team, sets us apart as a leader in providing core
fixed income products to the Canadian institutional marketplace."

    The risk-controlled strategy is managed by a team of professionals with
an average of 15 years of experience, bolstered by a team of credit research
professionals who follow different sectors and industries within the fixed
income market.

    The initial investor in SSgA's new active strategy is the Halifax
Regional Municipality Pension Plan.

    "We were attracted to this strategy because of the opportunity to capture
excess returns with moderate risk" said Terri Troy, chief executive officer of
Halifax Regional Municipality Pension Plan. "SSgA has a proven track record of
generating consistent fixed income returns. They clearly understand our
investment objectives and have demonstrated an ability to deliver on them."

    About State Street Global Advisors

    State Street Global Advisors, the investment management arm of State
Street Corporation, delivers investment strategies and integrated solutions to
clients worldwide across every asset class, investment approach and style.
With US$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.

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For further information: Media Contact: Environics PR Laura Vallis, +1

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