Fund Description: SPDR Portfolio Short Term Corporate Bond ETF, formerly SPDR Barclays Short Term Corporate Bond ETF, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the SPDR SERIES TRUST, an open-end investment management company. INVESTMENT OBJECTIVE: The SPDR Portfolio Short Term Corporate Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Capital U.S. 1-3 Year Corporate Bond Index . INDEX DESCRIPTION: The Barclays U.S. 1-3 Year Corporate Bond Index is designed to measure the performance of the short term U.S. corporate bond market. The Index includes publicly issued U.S. dollar denominated corporate issues that have a remaining maturity of greater than or equal to 1 year and less than 3 years, are rated investment grade (must be Baa3/BBB- or higher) and have $250 million or more of outstanding face value. In addition, the securities must be Securities and Exchange Commission registered, denominated in U.S. dollars, fixed rate and non-convertible. The Index includes only corporate sectors. The corporate sectors are Industrial, Utility, and Financial Institutions, which include both U.S. and non-U.S. corporations. The following instruments are excluded from the Index: structured notes with embedded swaps or other special features; private placements; floating rate securities; and Eurobonds. The Index is market capitalization weighted and the securities in the Index are updated on the last business day of each month. As of November 30, 2009, there were approximately 572 securities in the Index. FUND STRATEGY: In seeking to track the performance of the Barclays Capital U.S. 1-3 Year Corporate Bond Index 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 Funds Management, Inc. is the Investment Advisor for the Fund.