State Street Global Advisors and Nuveen Investments Launch Build America Bond ETF

State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE: STT), today announced that the SPDR® Nuveen Barclays Capital Build America Bond ETF (Symbol: BABS) began trading on the NYSE Arca on May 13, 2010. The municipal bond SPDR is the first new exchange traded fund developed under a sub-advisory agreement between State Street Global Advisors and Nuveen Investments subsidiary, Nuveen Asset Management. Its annual expense ratio is 0.35 percent.

Designed to provide investors with exposure to Build America Bonds, which can offer an attractive risk/reward potential when compared with equivalently rated corporate debt, the SPDR Nuveen Barclays Capital Build America Bond ETF seeks to track the performance of the Barclays Capital Build America Bond Index. As of April 30, 2010, the index provides exposure to 85 issues.

“Build America Bonds are a relatively new asset class; however, as investors and advisors have grown more familiar with these bonds, demand for diversified access to this segment of the municipal bond market has increased substantially,” said Anthony Rochte, senior managing director at State Street Global Advisors. “The first municipal bond ETF developed under our agreement with Nuveen, the SPDR Nuveen Barclays Capital Build America Bond ETF underscores our commitment to offering cutting-edge products that provide investors with precise exposure to hard-to-reach corners of the market.”

Created under the American Recovery and Reinvestment Act of 2009, Build America Bonds were designed to appeal to a broader set of investors than traditional tax-exempt municipal bonds and reduce the borrowing costs of state and local governments. The interest from Build America Bonds is subsidized by the US Treasury. Unlike most municipal bonds, Build America Bonds are taxable; however, yields presently are comparable to corporate bonds, which historically have had a higher default rate than municipal bonds. Between the launch of the program in April 2009 and March 31, 2010, there have been 1,066 separate Build America Bond issues, which have supported more than $90 billion of municipal financing.

“Build America Bonds continue to attract investors seeking to diversify their fixed income portfolios,” said Bill Huffman, chief operating officer and co-head of Nuveen Asset Management. “With the launch of the SPDR Nuveen Barclays Capital Build America Bond ETF, we look forward to working with State Street to help these investors access this unique asset class which helps finance essential service infrastructure projects across the United States.”

On March 30, 2010, State Street Global Advisors announced that it entered into an agreement with Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, under which Nuveen became sub-adviser of SSgA’s municipal bond ETFs.

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 March 31, 2010.*

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 $150 billion of assets on March 31, 2010. 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 March 31, 2010, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 27 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

* Source: State Street Global Advisors’ Intermediary Business Group – Strategy & Research

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Frequent trading of ETF’s could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.

Income exempt from federal income tax may be subject to state or local taxes and the federal alternative minimum tax (AMT). Capital gains may by subject to federal income and other taxes.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall). There are additional risks for funds that invest in mortgage-backed and asset-backed securities including the risk of issuer default; credit risk and inflation risk.

The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. Interest rate increases can cause the price of a debt security to decrease. A portion of the dividends you receive may be subject to federal, state, or local income tax or may be subject to the federal alternative minimum tax.

Because there is no guarantee that the relevant provisions of the American Recovery and Reinvestment Act will be extended, the ability of municipalities to issue Build America Bonds may expire on December 31, 2010. The number of available Build America Bonds may be limited as a result, which may negatively affect the value of Build America Bonds. Also, there is no guarantee that municipalities will continue to issue Build America Bonds in the future and no assurance that the bonds will continue to be actively traded.

Nuveen® is registered trademark of Nuveen Investments.

"SPDR®" is a registered trademark of Standard & Poor’s Financial Services LLC ("S&P") and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Standard & Poor’s®, S&P®, SPDR®, S&P 500® and Select Sector SPDRs® are registered trademark of Standard & Poor’s Financial Services LLC and have been licensed for use by State Street Corporation.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.