BOSTON--(BUSINESS WIRE)--Nov. 1, 2005--State Street Corporation
announced today that it has acquired the licensing rights for three
exchange-traded funds (ETFs) listed and traded on the American Stock
Exchange (AMEX). The three ETFs-- the SPDR(R) Trust, MidCap SPDR Trust
and DIAMONDS(TM) Trust-- are sponsored by PDR Services LLC (PDR), a
wholly-owned subsidiary of the American Stock Exchange LLC.
Collectively these three ETFs represent about one third of the ETF
market.
The licensing rights, which State Street has acquired from PDR and
the AMEX, grant State Street the use of the SPDRs, MidCap SPDRs and
DIAMONDS trademarks together with certain other trademarks of Standard
and Poors(R) and Dow Jones(R), including the S&P 500(R), the S&P
MidCap 400 and the Dow Jones Industrial Average(TM). State Street also
assumes exclusive responsibility to market and promote the three ETFs.
The SPDR Trust, MidCap SPDR Trust and DIAMONDS Trust will continue
to be listed on the AMEX. The financial terms of the agreement will
not be material to State Street Corporation.
About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading
specialist in providing institutional investors with investment
servicing, investment management and investment research and trading.
With $9.8 trillion in assets under custody and $1.4 trillion in assets
under management (as of September 30, 2005), State Street operates in
25 countries and more than 100 geographic markets worldwide. For more
information, visit State Street's web site at www.statestreet.com.
This news announcement contains forward-looking statements as
defined by United States securities laws, including statements about
the financial outlook. Those statements are based on current
expectations and involve a number of risks and uncertainties,
including those related to the pace at which State Street adds new
clients or at which existing clients use additional services, the
value of global and regional financial markets, the pace of
cross-border investment activity, changes in interest rates, the pace
of worldwide economic growth and rates of inflation, the extent of
volatility in currency markets, consolidations among clients and
competitors, State Street's business mix, the dynamics of markets
State Street serves, and State Street's success at integrating and
converting acquisitions into its business. Other important factors
that could cause actual results to differ materially from those
indicated by any forward-looking statements are set forth in State
Street's 2004 annual report on Form 10-K and subsequent SEC filings.
State Street encourages investors to read the Corporation's annual
report, particularly the section on factors that may affect financial
results, and its subsequent SEC filings for additional information
with respect to any forward-looking statements and prior to making any
investment decision. The forward-looking statements contained in this
press release speak only as of the date hereof, November 1, 2005, and
the Corporation will not undertake efforts to revise those
forward-looking statements to reflect events after this date.
"Standard & Poor's(R)", "S&P(R)", S&P 500(R), "Standard & Poor's
500", "500", "SPDRs", Standard & Poor's MidCap 400 Index", "S&P MidCap
400 Index", "Standard & Poor's MidCap Depositary Receipts", and
"MidCap SPDRs" are trademarks of The McGraw-Hill Companies, Inc. and
have been licensed for use by State Street Corporation
"Dow Jones(TM)", "DIAMONDS(TM)" and "Dow Jones Industrial
Average(TM)" are trademarks of Dow Jones & Company, Inc. and have been
licensed for use for certain purposes by State Street Corporation.
The DIAMONDS Trust, based on the Dow Jones Industrial Average, is not
sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones
makes no representation regarding the advisability of investing in
such product.
CONTACT: State Street Corporation
Denise Robbi Arena, 617-664-3933
SOURCE: State Street Corporation