STATE STREET RESEARCH SPONSORS HOFFA SCHOLARSHIP DINNER

The James R. Hoffa Memorial Scholarship Fund was created in 1999, to honor the memory of the former Teamsters General President, and to increase the funding available for the education of Teamster family members. Since its inception, the scholarship fund has quadrupled the initial funding and will grant scholarships totaling $300,000 in 2001.

The Fund distributes seventy-five scholarships annually. Children of Teamster members compete in one of the five geographic regions where the local union is located. Twenty-five of the awards, five per region, total $10,000 each. These four-year scholarships are disbursed at the rate of $2,500 per year and are renewable annually. Fifty of the awards, ten per region, are one-time $1,000 grants. These scholarships are disbursed to the college or university at the beginning of the recipient's freshman year. "We are pleased to support such a meaningful fundraiser which benefits so many college-bound seniors," said Kevin Wilkins, Executive Vice President Head of State Street Research Investment Services. "Our attendance at this event provides us with an opportunity to reinforce our relationships with participating employers and plan sponsors in the Supplemental Income 401(k) Plan that we manage. Overall enrollment in this program continues to grow and we look forward to introducing State Street Research to other interested participants."

State Street Research has actively managed money for Taft-Hartley Supplemental Income 401(k) Plan since January 1999. This Plan is the largest multi-union, collectively bargained Taft-Hartley 401(k) Plan in the country with over 13,000 participants and offers simple, systematic pre-tax savings through payroll deductions.

State Street Research & Management Company, with a money management history dating back to 1924, is one of the nation's first investment management organizations. The Boston-based firm is a subsidiary of MetLife, one of the world's largest financial services companies. As of March 31, 2001, State Street Research managed $48 billion in assets, of which over $31 billion represented institutional clients and $17 billion represented mutual fund and variable annuity portfolios. The firm manages money for 11 of the 15 largest U.S. corporate pension plans (as reported in the 2001 Money Management Directory), union programs, public employee pension plans, mutual funds for over 530,000 shareholder accounts, as well as individually managed accounts for affluent investors. The firm's Web site address is www.ssrfunds.com.