STATE STREET RESEARCH FUNDS ADDED TO $800 MILLION RETIREMENT PLAN
BOSTON, MA, February 22, 2001- State Street Research announced today thattwo of its funds, State Street Research Aurora Fund and State StreetResearch International Equity Fund, have been added to Newport NewsShipbuilding's salaried retirement plan platform. Newport News Shipbuilding selected State Street Research's funds forits $800 million 401(k) retirement plan for salaried employees administeredby Merrill Lynch, the plan's recordkeeper. State Street Research AuroraFund is the only small-cap fund offered through the plan and State StreetResearch International Equity Fund complements one other international fundchoice available. Currently, the plan has more than 10,000 activeparticipants.
Newport News Shipbuilding, headquartered along the James River in Virginia,is one of the top ten defense companies in the United States and isprimarily engaged in the design, construction, repair and overhaul ofnuclear powered aircraft carriers and submarines for the United States Navy.
"The addition of our mutual funds to a plan of this magnitude is atremendous compliment to our investment management capabilities," said KevinWilkins, Executive Vice President, Head of Retail Marketing and ClientServices Group. "The performance successes of funds like State StreetResearch Aurora Fund has been driving prospects and plan sponsors to theState Street Research Adviser Retirement Program to learn more aboutoffering our funds through their investment platforms."
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. As ofDecember 31, 2000, State Street Research managed $53 billion in assets, ofwhich $34 billion represented institutional clients and $19 billionrepresented mutual fund and variable annuity portfolios. The firm managesmoney for 11 of the 15 largest U.S. corporate pension plans, public employeepension plans, union programs, individually managed accounts for affluentinvestors, and mutual funds for over 530,000 shareholder accounts. Thefirm's Web site address is www.ssrfunds.com.
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Note to editors: We are required to include the following information withour news release:
A prospectus for State Street Research Aurora Fund or State Street ResearchInternational Equity Fund is available through your financial professionalor by calling 1-87-SSR-FUNDS (1-877-8637). The prospectus(es) contain(s)more complete information, including sales charges and expenses. Pleaseread the prospectus(es) carefully before investing.
