STATE STREET RESEARCH FUNDS ADDED TO $800 MILLION RETIREMENT PLAN
BOSTON, MA, February 22, 2001- State Street Research announced today that
two of its funds, State Street Research Aurora Fund and State Street
Research International Equity Fund, have been added to Newport News
Shipbuilding's salaried retirement plan platform.
Newport News Shipbuilding selected State Street Research's funds for
its $800 million 401(k) retirement plan for salaried employees administered
by Merrill Lynch, the plan's recordkeeper. State Street Research Aurora
Fund is the only small-cap fund offered through the plan and State Street
Research International Equity Fund complements one other international fund
choice available. Currently, the plan has more than 10,000 active
participants.
Newport News Shipbuilding, headquartered along the James River in Virginia,
is one of the top ten defense companies in the United States and is
primarily engaged in the design, construction, repair and overhaul of
nuclear powered aircraft carriers and submarines for the United States Navy.
"The addition of our mutual funds to a plan of this magnitude is a
tremendous compliment to our investment management capabilities," said Kevin
Wilkins, Executive Vice President, Head of Retail Marketing and Client
Services Group. "The performance successes of funds like State Street
Research Aurora Fund has been driving prospects and plan sponsors to the
State Street Research Adviser Retirement Program to learn more about
offering our funds through their investment platforms."
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. As of
December 31, 2000, State Street Research managed $53 billion in assets, of
which $34 billion represented institutional clients and $19 billion
represented mutual fund and variable annuity portfolios. The firm manages
money for 11 of the 15 largest U.S. corporate pension plans, public employee
pension plans, union programs, individually managed accounts for affluent
investors, and mutual funds for over 530,000 shareholder accounts. The
firm's Web site address is www.ssrfunds.com.
# # #
Note to editors: We are required to include the following information with
our news release:
A prospectus for State Street Research Aurora Fund or State Street Research
International Equity Fund is available through your financial professional
or by calling 1-87-SSR-FUNDS (1-877-8637). The prospectus(es) contain(s)
more complete information, including sales charges and expenses. Please
read the prospectus(es) carefully before investing.
