STATE STREET RESEARCH & MANAGEMENT COMPANY APPOINTS PUBLIC RELATIONS MANAGER

Ms. Riley will be responsible for overseeing various communications programsfor State Street Research including the development of public relationsstrategies and media plans for the firm's people, products and services.She will manage the expansion of the firm's recognition in the industry aswell as broaden visibility in the local community. Ms. Riley will serve asspokesperson for the firm as the direct interface with the news media.

"Alyson brings a strong communications background with demonstrated publicrelations experience to her new position at State Street Research," saidRobyn Tice, Senior Vice President, Public Relations. "Her proven financialservices expertise combined with her extensive media contacts provide atremendous asset to our organization."

Ms. Riley joins State Street Research from State Street Corporation whereshe was Assistant Vice President, Public Relations responsible for developing andexecuting public relations strategies for the investor services andinvestment management divisions in support of the corporation's globalbusiness objectives. Previously, she was an Account Executive for TheHubbell Group, a full service public relations firm specializing incommunications for the financial services industry. Ms. Riley also servedas a Multimedia Developer for Interactive Design, Inc. She is a graduate ofIthaca College with a B.S. in corporate communications.

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 October 31, 2001, StateStreet Research managed $45.5 billion in assets, of which over $28.9 billionrepresented institutional clients and $16.6 billion represented mutual fundand variable annuity portfolios. The firm has managed money for many of thelargest U.S. corporate pension plans for over 30 years. State StreetResearch also manages individually managed accounts for affluent investors,and mutual funds for over 576,000 shareholder accounts. The firm's Web siteaddress is www.ssrfunds.com.