STATE STREET RESEARCH LAUNCHES SIGNIFICANT CAPABILITIES TO ITS INSTITUTIONAL WEB SITE

BOSTON, MA, February 11, 2002 - State Street Research & Management Companyannounced today that it has launched a significant enhancement to itsweb-based services with a capability that allows institutional clients toaccess account information on-line. Through the websitewww.ssrinstitutional.com , clients will beable to retrieve information about their accounts, including currentportfolio holdings, valuations, performance and transaction summaries. Thenew service also features a flexible reporting capability and is passwordprotected to ensure client confidentiality.

"It is a strategic imperative for State Street Research to leverage theInternet for our clients and the ability to offer robust account informationon-line to clients is filling a need that has gone unmet in theinstitutional investor community," said Christopher C. Abbott, executivevice president and head of Institutional Marketing and Client Services forState Street Research. "Given the fast-paced environment of the industry,it is critical that we provide timely, accurate information that isaccessible to the client when and where it is needed. This is the first ofa number of customized portals we are working on at State Street Research tomeet the needs of our clients and distribution partners."

The website also features webcasts from the firm's investment professionalsfeaturing commentary on a wide range of subjects. Current topics includethe outlook for international markets and value investing.

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 December 31, 2001, StateStreet Research managed $46.2 billion in assets, of which $28.5 billionrepresented institutional clients and $17.7 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 .