STATE STREET RESEARCH & MANAGEMENT COMPANY NAMES DIRECTOR OF INSTITUTIONAL MARKETING COMMUNICATIONS

"David brings a depth of experience in management and investment to this position. He is a team player and will provide both tactical and strategic insight to the communications function," stated Abbott. "His experience will aid in setting the vision for our marketing communications team and working on the successful prioritization of all we need to do to support our clients, consultants, prospects and other business partners."

Reilly joins State Street Research & Management Company from Prudential Investments where he was Senior Vice President, Director of Investment Communications. Reilly has also held positions as a Vice President and Portfolio Manager at Eaton Vance Management and Vice President and Senior Fixed Income Analyst at Scudder, Stevens & Clark. He has a B.A. from Skidmore College in New York and received his CFA designation in 1987.

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. 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 Institutional marketing Web site address is www.ssrinstitutional.com.