BOSTON--(BUSINESS WIRE)--Sept. 15, 2004--
First ETF to Track the S&P 500 O-Strip Index
State Street Global Advisors (SSgA), the investment management arm
of State Street Corporation (NYSE: STT), today announced the
introduction of the SPDR(R) O-Strip exchange traded fund (ETF) (AMEX:
OOO), the first ETF to track the newly-launched Standard & Poor's
(S&P) 500 O-Strip Index.
The SPDR(R) O-Strip ETF is designed to allow an investor the
ability to purchase, in a single trade, all of the individual S&P 500
constituent securities that are primarily traded on the
over-the-counter market. All SPDR O-Strip constituents are members of
the S&P 500 and must meet its specific criteria for index inclusion.
The S&P 500 O-Strip Index currently includes 75 constituents,
representing 15% of the total market capitalization of the S&P 500.(1)
"The introduction of the SPDR O-Strip ETF underscores our
commitment to providing investors with sophisticated, yet practical
investment options as part of a diversified range of investment
products that will enable them to achieve their investment goals,"
said Gus Fleites, managing director of SSgA's Advisor Strategies unit.
"We created the S&P 500 O-Strip Index to help investors track
different parts of the S&P 500," said Robert Shakotko, managing
director for Standard & Poor's. "The new SPDR O-Strip launched by SSgA
will permit investors to buy a portfolio of companies that represents
one of the building blocks of the S&P 500."
Through an agreement with Standard & Poor's, the SPDR O-Strip ETF
will become part of the SPDR family of ETFs based on S&P indices. The
ticker symbol for the S&P 500 O-Strip Index is SPOS. More information,
including index constituents, history and pricing is available at
www.indices.standardandpoors.com.
State Street, in partnership with the American Stock Exchange,
introduced the first ETF, the SPDR, in 1993. State Street Global
Advisors has more than $64 billion in ETF assets under management
worldwide, which represents approximately 28 percent of ETF assets
globally.(2)
SSgA Funds Management, Inc. (SSgA FM) is the advisor for the SPDR
O-Strip ETF. SSgA FM, with other investment management affiliates of
State Street Corporation, comprise SSgA, the investment management arm
of State Street Corporation. SSgA is the largest institutional
investment manager in the world delivering investment strategies and
integrated solutions to clients worldwide across every asset class,
investment approach and style. With $1.2 trillion in investment
programs and portfolios, SSgA has investment centers in Boston, Hong
Kong, Tokyo, Singapore, London, Paris, Montreal, Munich, and Sydney,
and offices in 28 cities worldwide. For more information, visit State
Street Global Advisors at www.ssga.com.
Standard & Poor's, a division of The McGraw-Hill Companies
(NYSE:MHP), is the world's foremost provider of independent credit
ratings, indices, risk evaluation, investment research, data and
valuations. With 5000 employees located in 20 countries, Standard &
Poor's is an essential part of the world's financial infrastructure
and has played a leading role for more than 140 years in providing
investors with the independent benchmarks they need to feel more
confident about their investment and financial decisions. For more
information, visit www.standardandpoors.com.
The American Stock Exchange(R) (Amex(R)) is the only primary
exchange that offers trading across a full range of equities, options
and exchange traded funds, including structured products and
HOLDRS(SM). In addition to its role as a national equities market, the
Amex is the pioneer of the ETF, responsible for bringing the first
domestic product to market in 1993. Leading the industry in ETF
listings, the Amex lists 139 ETFs to date. The Amex is also one of the
largest options exchanges in the U.S., trading options on broad-based
and sector indexes as well as domestic and foreign stocks.
(1) Source: Standard & Poor's as of June 30, 2004.
(2) Source: SSgA Advisor Consulting Services as of July 31, 2004.
An investor should consider investment objectives, risks, charges
and expenses of the investment company carefully before investing. To
obtain a prospectus, which contains this and other information about
the fund, go to www.streettracks.com or call 1-866-787-2257. Please
read the prospectus carefully before investing.
Distributor: State Street Global Markets, LLC, member NASD, SIPC
Date of first Use: 09/04
"S&P(R)", "Standard & Poor's(R)", "S&P 500(R)", "SPDR(R)" and "S&P
500 O-Strip(R)" and "SPDR" are trademarks of The McGraw-Hill
Companies, Inc. and have been licensed for use by State Street Global
Advisors. The SPDR O-Strip(R) Exchange Traded Fund is not sponsored,
endorsed, sold or promoted by S&P and S&P makes no representation
regarding the advisability of investing in the Fund.
CONTACT: State Street CorporationArlene Roberts, 617-664-3933
or
Standard & Poor's
David Guarino, 212-438-1471
SOURCE: State Street Corporation