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Lipper

STATE STREET RESEARCH AWARDED NEW INSTITUTIONAL BUSINESS FROM CSXCORPORATION



BOSTON, MA, April 16, 2001- State Street Research & Management Company, witha history dating back to 1924, announced today that it has been awarded $130million from CSX Corporation. State Street Research has been selected to provide large cap growth investment management for The Master Pension Trust for CSX Corporation and Affiliated Companies. During the competitive search process, threeinvestment managers, including State Street Research, were underconsideration for their experience and ability to successfully manage moneyin this investment discipline.

CSX Corporation, based in Jacksonville, Florida, is a Fortune 500,transportation company, with a unique combination of rail, containershipping, intermodal and logistical services providing global distributionand delivery. They are also diversified beyond transportation withinterests in a resort property, real estate, communications and technology."This win speaks to the triumvirate power of relationship building,persistence and investment management capabilities," said Chris Abbott,Executive Vice President, Head of Institutional Marketing and Client ServiceGroup for State Street Research & Management Company. "The relationshipwith CSX was established in 1997, and has continued to develop, ultimatelyculminating in this truly significant win."

State Street Research & Management Company, with a money management historydating back to 1924, is one of the nation's first investment managementorganizations. The Boston-based firm is a subsidiary of MetLife, one of theworld's largest financial services companies. As of February 28, 2001,State Street Research managed $51 billion in assets, of which over $33billion represented institutional clients. The firm manages money for 11 ofthe 15 largest U.S. corporate pension plans (as reported in the 2001 MoneyManagement Directory), union programs, public employee pension plans, mutualfunds for over 530,000 shareholder accounts, as well as individually managedaccounts for affluent investors. The firm's Web site address iswww.ssrinstitutional.com.



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