♦The Advisor has contractually agreed to waive up to the full amount of the Management Fee and to reimburse the Concentrated Growth Opportunities Fund for all expenses to the extent that total expenses (exclusive of non-recurring account fees and extraordinary expenses) exceed 1.10% of average daily net assets on an annual basis until December 31, 2008.

†Prior to June 1, 2007 the SSgA Concentrated Growth Opportunities Fund was known as the SSgA Large Cap Growth Opportunities Fund.

Performance data reflects an expense limitation currently in effect, without which returns would have been lower.

Shares of the SSgA® funds are not insured by the FDIC or by another governmental agency: they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by State Street Bank and Trust Company. The SSgA funds pay State Street Bank and Trust Company for its services as custodian, transfer agent and shareholder servicing agent and pays SSgA Funds Management, Inc., an affiliate of State Street Bank and Trust Company, for investment advisory services.

The Russell 1000 Growth® Index is a trademark of the Frank Russell Company.  RussellTM is a trademark of the Frank Russell Company.  The Russell 1000® Growth Index is unmanaged and can not be invested in directly and is constructed to provide a comprehensive and unbiased barometer of the large-cap growth market. It offers investors access to the large-cap growth segment of the U.S. equity universe.