STATE STREET RESEARCH AWARDED NEW INSTITUTIONAL BUSINESS FROM PLUMBERS AND PIPEFITTERS, LOCAL #4 PENSION FUND

"We are pleased to announce this new business win. For over 77 years, wehave been managing money for individuals and institutions. We believe thatunion members participating in the Local #4 Pension Fund will benefit fromour vast experience and from the superior retirement planning support andservice we offer," said Chris Abbott, Executive Vice President, Head ofInstitutional Marketing and Client Service Group for State Street Research &Management Company.

State Street Research manages over $800 million in Taft-Hartley plan assetsas of September 30, 2001. For nearly three years, the firm has been managingretirement assets for union members. State Street Research has a dedicatedteam of professionals to market and service the Taft-Hartley markets.

State Street Research & Management Company, with a moneymanagement history dating back to 1924, is one of the nation's firstinvestment management organizations. The Boston-based firm is a subsidiaryof MetLife, one of the world's largest financial services companies. As ofSeptember 30, 2001, State Street Research managed $46 billion in assets, ofwhich over $30 billion represented institutional clients and $16 billionrepresented mutual fund and variable annuity portfolios. The firm hasmanaged money for many of the largest U.S. corporate pension plans for over30 years. State Street Research also manages money for union programs,public employee pension plans, mutual funds for over 576,000 shareholderaccounts, as well as individually managed accounts for affluent investors.The firm's Institutional Web site address is www.ssrinstitutional.com.