Fund Description: SPDR Portfolio Corporate Bond ETF, formerly SPDR Bloomberg Barclays Corporate Bond ETF, formerly SPDR Barclays Issuer Scored Corporate Bond ETF, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the SPDR Series Trust, an investment management company. INVESTMENT OBJECTIVE: The SPDR Portfolio Corporate Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg Barclays US Corporate Bond Index. INDEX DESCRIPTIION: The Bloomberg Barclays US Corporate Bond Index is designed to measure the performance of the U.S. corporate bond market. The Index includes publicly issued U.S. dollar denominated corporate issues that are rated investment grade (Baa3/BBB- or higher) by at least two of Moody’s Investors Service, Inc., Fitch Inc., or Standard & Poor’s, Inc., and have $250 million or more of par amount outstanding. Only securities issued by companies with publicly traded equity are eligible for inclusion. In addition, the securities must be denominated in U.S. dollars, fixed rate and non-convertible. The Index includes only corporate sectors which include both U.S. and non-U.S. corporations are Industrial, Utility, and Financial Institutions. Individual issuers in the Index are weighted using the following financial ratios: return on assets, interest coverage and current ratio (factors). Individual security weights are then calculated by the relative market value of each eligible security issued by the issuer. Monthly maintenance rebalancing to reflect the addition and subtraction of securities occurs on the last business day of each month. Factor rebalancing occurs every six months on the last business day of March and September. As of February 28, 2011, there were approximately 3,502 securities in the Index and the modified adjusted duration of securities in the Index was approximately 6.11 years. FUND STRATEGY: The Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index or in securities that has been determined to have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. FUND MANAGEMENT: SSgA FM serves as the investment adviser to the Fund.