Investors Increasingly Concerned About Interest Rate Risk, Look to Short Term Instruments in Search for Yield

State Street Global Advisors (SSgA)*, the asset management arm of State Street Corporation (NYSE:STT), today announced the launch of the SPDR SSgA Ultra Short Term Bond ETF (Symbol: ULST). The newest actively managed SPDR ETF began trading on the NYSE Arca on October 10, 2013, and provides investors with access to a diversified portfolio of ultra short term bonds.

“The SPDR SSgA Ultra Short Term Bond ETF is an attractive option for the cash investor who is seeking incremental yield but does not want to sacrifice liquidity,” said James Ross, senior managing director and global head of SPDR ETFs at SSgA. “We are seeing tremendous flows year to date in short and ultra short term bonds, as investors are increasingly anticipating rising interest rates.”

“As one of the world’s leading cash and high quality fixed income managers, our team has significant experience and a proven, disciplined approach to credit research,” said Steve Meier, SSgA’s chief investment officer of fixed income, cash and currency. “This gives us the latitude to exploit inefficiencies in the fixed income market allowing for opportunistic portfolio positioning.”

SSgA is one of the largest cash managers, with more than 30 years of experience, $385 billion in global cash assets and an established track record as active manager of cash and fixed income strategies through many market cycles.

The SPDR SSgA Ultra Short Term Bond ETF seeks to provide income, preservation of capital and daily liquidity by primarily investing in US dollar-denominated investment grade bonds that are rated a minimum of A- or A3 and have an effective duration between three and nine months. Portfolio holdings will include a range of fixed and floating securities, including corporate obligations, government bonds, agency securities and ETFs. The SPDR SSgA Ultra Short Term Bond ETF’s expense ratio is 0.20 percent.

SSgA manages more than $337 billion** in SPDR ETF assets worldwide (as of June 30, 2013) and is one of the largest ETF providers globally.

About SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSgA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY). Since then, we’ve sustained our place as an industry innovator through the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income and sector ETFs. For more information, visit www.spdrs.com.

About State Street Global Advisors

State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street Corporation, one of the world’s leading providers of financial services to institutional investors.

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1 Source: Morningstar 9/30/13, Ultra Short Bond Fund Inflows $9.4b

*SPDR ETFs are managed by SSgA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation.

**This AUM includes the assets of the SPDR Gold Trust (approx. $37 billion as of June 30, 2013), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent.

In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETF shares may be bought and sold on the exchange through any brokerage account, ETF shares are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only. Please see the prospectus for more details.

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

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; issuer credit risk; liquidity risk; and inflation risk.

The Fund is actively managed and may underperform its benchmarks. An investment in the fund is not appropriate for all investors and is not intended to be a complete investment program. Investing in the fund involves risks, including the risk that investors may receive little or no return on the investment or that investors may lose part or even all of the investment.

Actively managed ETFs do not seek to replicate the performance of a specified index.

Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.

Investments in asset backed and mortgage backed securities are subject to prepayment risk which can limit the potential for gain during a declining interest rate environment and increases the potential for loss in a rising interest rate environment.

Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets. Investments in smaller companies may involve greater risks than those in larger, better known companies.

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.

The Fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share.

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, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.

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