‡ Subject to Change

♦The Trustee has agreed to waive a portion of its fee until February 1, 2008, but may thereafter discontinue this voluntary waiver policy.

All total return figures assume reinvestment of dividend and capital gains at net assets value; actual returns may differ.

Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principle value of an investment will flucuate so that an investor's share, when sold or redeemed, may be worth more or less than the original cost. For current month end performance, please call 1-800-843-2639 or vist www.spdr.com.

 Average annual total return and total return are historical and include change in share value and reinvestment of dividends and capital gains , if any.

Current performance data may be higher or lower than actual data quoted.

After tax returns presented above may not take into account year end tax adjustments, which are calculated only at the end of each tax year. The after tax returns could differ after year end tax adjustments are accounted for.        

SPDR - Standard & Poor's Depositary Receipts - are exchange traded funds that represent ownership in the SPDR Trust, a unit investment trust.

The S&P 500 Index is an unmanaged index of 500 common stocks that is generally considered representative of the U.S. stock market. The index is heavily weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. The S&P 500 Index figures do not reflect any fees, expenses or taxes.

The “SPDR®” trademark is used under license from The McGraw-Hill Companies, Inc. (“McGraw-Hill”). No financial product offered by state Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw Hill. Standard & Poor's®, S&P®, S&P 500®, Select Sector SPDR®, Select Sector SPDRs® are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use by State Street Bank and Trust Company.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1-800-843-2639 or visit www.spdr.com. Read the prospectus carefully before investing.

ETF's are subject to risk similar to those of stocks including those regarding short-selling and margin account maintenance.

ALPS Distributors, Inc., a registered broker-dealer, is the distributor for SPDRs.

Dividend Yield - The annual dividends per share divided by the price per share, expressed as a percentage. FY 1 P/E Ratio-  is a closing price dividend by the sum of the most recent four quarters earnings per share. Price/Book Ratio -is the current market price of the stock dividend by the most recently reported book value for the prior fiscal year.