SSgA World Index Equity Fund. SIMPLIFIED PROSPECTUS SECTION A LEGAL

Mutual fund in compliance with European regulations SSgA World Index Equity Fund. SIMPLIFIED PROSPECTUS SECTION A LEGAL Summary: Name: SSgA World Index Equity Fund. Legal form: French open-ended investment company (SICAV). Sub-fund: SSgA World Index Equity Fund is a sub-fund of the State SICAV Street Global Advisors Index Funds. Asset Management Company: State Street Global Advisors France S.A. Assignees: Accounting: State Street Banque S.A. Expected lifetime: 99 years from its registration in the Registre du Commerce et des Sociétés. Custodian: State Street Banque S.A. Statutory auditors: Ernst & Young Audit. Promotion Agent: State Street Global Advisors France S.A. Information on the investments and the asset management style: Classification: International Shares. Management objective: SSgA World Index Equity Fund is an index-based fund that replicates an index. The investment objective of the fund is to replicate the performance of the MSCI World (Morgan Stanley Capital International), however it develops. The aim of the management strategy is to ensure that the spread between the change in net asset value and the index (measured by tracking error) is as small as possible and lower than 1%. Benchmark: MSCI World with net dividends reinvested. This index represents all equities listed in the world. The asset management company and the custodian are available to provide investors with information concerning the benchmark, changes in which are shown in periodical documents and the annual report. More details about the benchmark are set out in the detailed memorandum. Investment strategy: The manager employs the investment method(s) he/she deems most appropriate to attain the investment objectives. The management strategy emphasizes the pure replication method that consists of purchasing all the securities that make up the reference index in proportion to their respective weightings. Publication date:24 March.2009 1/13

The structure of the portfolio is therefore very close to that of its benchmark. It does not involve any sector-based speculation or stock-picking. As an index-based fund, the Fund may make use of the waivers specified by Article R 214-28 of the French monetary and financial code, relating to the investment limits in financial instruments of a single issuer. Accordingly, the Fund may invest up to 35% of its assets in the securities of a single issuer for one security. The portfolio is made up of at least 90% global market shares. The portfolio may contain up to 10% of negotiable debt securities and money market instruments. It may also, to a limited extent, include equity derivatives and index equity derivatives. Within regulatory limits, it may deal in futures that are traded on French and foreign regulated markets or on the over-the-counter market, especially futures contracts on indices, up to a maximum of 5% of the assets. In all circumstances, the purpose of dealing in derivatives is to help ensure that the Fund s performance is as similar as possible to that of the benchmark. Cash and cash equivalents are limited to 5% of assets. Risk profile: Your money will be invested principally in financial instruments selected by the Asset Management Company. These instruments will be exposed to the ups and downs of the markets. Investors must be aware of the risks set out below. Furthermore, the following explanations do not represent a comprehensive list of all the risk factors associated with purchasing the Fund's shares, and investors are invited to make up their own minds about whether it is appropriate to invest. They are also encouraged to seek independent financial advice before buying any shares in the Fund. The risk profile of the fund is fundamentally identical to or as close as possible to that of the index being replicated. The fund is principally exposed to equity market risks. As a result, its value fluctuates both up and down according to changes in the markets, and the investor may suffer capital losses. In addition, there is the likelihood of the following specific risks: There is no guarantee that the fund's management objectives will be achieved. In practice, no asset or financial instrument allows the reference index to be automatically replicated. The changes made to the assets in the Fund and the changing weightings of the reference index may bring about various transaction or other costs. Furthermore, the total return generated by investments in the securities comprising the index shall be reduced because of certain costs and expenses that are not included in the calculation of the index. In addition, the fund shall not be able to fully replicate the index s performance, in particular because of the temporary unavailability of certain securities comprising the index or because of exceptional circumstances that may distort the weightings of the index. In addition, in the event of a suspension or temporary interruption of the pricing of the securities comprising the index or in the event of market disruption, it may prove impossible to rebalance the portfolio of securities comprising the fund for an unspecified period. The value of the shares of the fund and their income may increase or decrease to reflect changes in the value of the securities in which the Fund invests. - Fund investments are managed with the objective of reproducing the performance of the reference Index. Consequently, the fund is subject to a risk of Tracking error, which is the risk that the performance of the fund investments fails to reproduce that of the reference index. Although Publication date:24 March.2009 2/13

the fund aims to be continuously fully invested, it may periodically need to hold a portion of its assets in the form of cash and cash equivalents French investors and investors from eurozone countries and other countries who have invested in the three share categories (in EUR and USD) are exposed to a currency risk. For investors in hedged P class shares in EUR, a systematic hedge against currency risk will be implemented. The manager will set up a euro hedge in respect of the risk of exposure against other currencies. - Due to security loan activities, the fund is subject to delay and recovery risks. If a counterparty defaults, financially or vis-à-vis one of its obligations in a security loan or pension transaction, the collateral will be called. If there is a sudden movement in the market, there is a risk that the value of the collateral will be lower compared to the security transferred. Moreover, if the fund can invest the cash received as collateral in monetary funds in order to optimize its management, it will be exposed to unwinding risk or default of the monetary fund. - Investors must also be aware that the fund will be exposed to a credit risk on the parties with which it deals and may, in addition, incur the risk of settlement failure. - Risks in respect of Hedged Share Classes. For Hedged Share Classes, the manager s objective is to hedge the applicable currency risk. There is no guarantee of the outcome of the actions taken by the manager for these hedging purposes. Any gains/losses resulting from transactions carried out for hedging purposes are the responsibility of each Hedge Share Class shareholder. Insofar as responsibility is shared between the various share classes and the sub-fund, in certain circumstances transactions carried out for the purposes of currency risk hedging may result in responsibility affecting the Net Value Added of other Share Classes of the Sub-Fund. Target investor group and profile of the typical investor: Subscribers concerned: All investors. Standard investor profile: The Fund is open to both institutional and individual investors. For institutional investors, this Fund is particularly intended to be used as a core investment in a diversified portfolio of shares making up the benchmark. Its risk level, measured by the volatility of performance, should be very close to that of the benchmark. For individual investors, there are a number of parameters which determine what percentage of an individual s total net worth should be invested in the Fund. These include the absolute value of the investor s net worth, his age, investment horizon and objectives fixed. The latter could be saving for retirement or making a temporary investment towards completing a project. Additional parameters would be the overall level of risk tolerance, which could be assessed by the amount of losses the investor is prepared to accept over a given time period, and tax considerations among others. Owing to the complexity of the factors to be taken into account, it is recommended that individual investors seek any independent advice they deem appropriate before defining their asset allocation and making any investment. Recommended investment duration: More than five years. Publication date:24 March.2009 3/13

Information concerning fees, costs and taxation: Fees and costs: Subscription and redemption fees: The subscription and redemption fees either increase the subscription price paid by the investor or reduce the redemption price. The fees retained by the Fund compensate it for the costs it must pay to invest or divest the holdings of the Fund. The remaining fees are paid on to the Asset Management Company, the Promotion Agent, and other service providers. Fees payable by the investor deducted when subscriptions or redemptions are made Subscription Fees paid on to third parties Subscription fees retained by the Fund Redemption fees paid on to third parties Redemption fees retained by the Fund Basis P Shares Hedged P Shares in EUR Rate scale net asset value x number of shares 2.00% maximum net asset value x number of shares 0.25% net asset value x number of shares None net asset value x number of shares 0.20% I shares 5,00% maximum EUR I Shares Special procedures: Subscription Fees Cost-free cases: In the event of redemption followed by a subscription on the same day, for the same amount, based on the same net asset value, or in case of in-kind subscription, there is no initial subscription charge (paid and due). Instance of additional charge: In the event of a subscription executed by a trading company located outside France, the Promotion Agent may charge a supplementary subscription fee of up to a maximum of 5.50%. Redemption Fees : Cost-free cases: In the event of redemption followed by a subscription on the same day, for the same amount, based on the same net asset value, or in case of inkind redemption, there is no redemption charge (paid and due). Operating and management fees: These fees cover all the costs invoiced directly to the Fund, except for the transaction fees. The transaction fees include the intermediation fees (brokerage, stock market taxes, etc.) and the transfer fee, if any, that might be charged particularly by the Custodian and the Asset Management Company. The following fees may be charged in addition to the operating and management fees: - Outperformance fees. These reward the Asset Management Company when the Fund exceeds its objectives. Therefore, they are invoiced to the Fund; - Transfer fees invoiced to the Fund; - A portion of the income from temporary transactions of buying and selling securities. For more details about the fees actually invoiced to the Fund, please refer to Part B of the simplified prospectus. Publication date:24 March.2009 4/13

Fees invoiced to the Fund Basis P shares Operating and management fees, inclusive of all taxes (including all the charges other than transaction costs, outperformance fees and costs associated with the investments in mutual or investment funds) Net assets after deducting FCP units or SICAV shares 0,70%* taxinclusiv e Maximu m rate I Shares Rate scale 0.30% taxinclusive* Rate maximum I shares in EUR P shares Hedged in EUR 0.73% taxinclusive* Maximum rate *Within this maximum, financial management fees, including the compensation for distributors, is set at 0.60% tax-inclusive for P shares, at 0.20% tax-inclusive for I shares in different currencies, and at 0.63% tax-inclusive for hedged P shares. Tax treatment: Accumulation fund. Depending on your tax status, any capital gains and income you may receive associated with the ownership of the Fund shares may be subject to taxation. We suggest you contact the Fund's Promotion Agent or your own financial adviser for any further details. Sales-related information: Conditions of subscription and redemption: The custodian (State Street Banque SA, Défense Plaza, 23-25 rue Delarivière-Lefoullon, 92064 Paris) receives the applications for subscriptions and redemptions until 11:00 a.m. (Paris time) each day. The share price applicable to subscription and redemption applications is based on the Fund s next net asset value per share, calculated on the closing prices of the following trading day. Fund units can be divided into ten-thousandths. Monies may be transferred from one sub-fund to another/from one category of shares to another by redeeming the shares of the first sub-fund/of the original category and subscribing to the shares of the new sub-fund/of the new category of shares. No subscription fee or redemption fee (paid and due) is applicable if a change is made from one class of share to another. End of financial year: Last trading day of the Paris Stock Exchange in December. Allocation of the profit/loss: Accumulation. Date and frequency at which net asset value (NAV) is calculated: Every trading day, except on official French public holidays. Place and procedures of publication or communication of the net asset value: The Asset Management Company, on tel. 01 44 45 40 00, on the Internet at www.ssga.fr, on Bloomberg <BALWLDI FP> <BALWLII FP>, on Reuters <001827.FRF>, and Reuters State Street Banque page <SSBQE>. Publication date:24 March.2009 5/13

Currency in which the shares are denominated: Shares ISIN code Subscribers concerned Minimum amount of first subscription P USD FR0000018277 All subscribers One Share I USD FR0010208538 Institutional equivalent to EUR 50,000 Minimum future subscriptions equivalent to EUR 50 equivalent to EUR 50 Currency of denomination I EUR FR0010482901 Institutional EUR 50,000 EUR 50 Euro P Hedged EUR FR0010730119 All subscribers One Share EUR 50 Euro Launch date: This sub-fund was approved by the AMF on 16 June 2000. It was launched on 28 July 2000. The class of I shares denominated (FR0010208538) was approved by the AMF on 15 October 2004. It was launched on 10 June 2005. The class of I shares denominated in EUR (FR0010482901) was approved by the AMF on 30 May 2007. It was launched on 29 June 2007. The class of Hedged P shares was launched on 23 March 2009. Additional information: The full prospectus of the Fund and the latest annual and periodic reports will be sent, (within one week) upon written request to: Company name: State Street Global Advisors France S.A. Address: Défense Plaza, 23-25 rue Delarivière-Lefoullon, 92064 Paris La Défense Cedex Telephone: 01 44 45 40 00 E-mail: contact@ssga.comthese documents are also available at: www.ssga.fr The voting policy and the report relating to the conditions in which the voting rights have been exercised are available at the Asset Management Company s registered office. If no answer is received within a month to a request relating to the vote on a resolution, this must be interpreted as an indication that the Asset Management Company voted in accordance with the principle stated in the voting policy. Point of contact where additional information may be obtained: State Street Global Advisors France S.A, Customer Service on 01 44 45 40 00. Date of publication of this prospectus: 24 March 2009 The AMF web site www.amf-france.org contains additional information on the list of regulatory documents and all the provisions concerning investor protection. This simplified prospectus must be given to subscribers before they make their subscription. Publication date:24 March.2009 6/13

SSgA World Index Equity Fund P SHARES SIMPLIFIED PROSPECTUS SECTION B STATISTICS Fund s annualised performance as of 31 December 2007: (expressed in the Fund s reporting currency) P SHARES IN USD 40.0% Annual Performance Performance 1 year 3 years 5 years Fund 8.64% 42.03% 115.45% 30.0% 20.0% MSCI World 9.04% 43.33% 118.87% 10.0% 0.0% -10.0% -20.0% NOTICE : Past performance is no indication of future performance. Performance is not constant over time. -30.0% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Performance is calculated on the basis of net dividends being reinvested. Publication date:24 March.2009 7/13

Presentation of the costs invoiced to the fund during the last financial year ended 31.12.07 P SHARES IN USD Operating and management fees 0.60% + VAT Cost induced by the investment in other mutual funds or investment funds This cost is determined on the basis of: - the costs associated with purchasing the other mutual funds or investment funds - minus any commission sharing negotiated by the sub-fund's Asset Management Company Other fees invoiced to the Fund These other fees can be broken down into: - outperformance fees - transfer fees (in %) Total billed to the Fund over the past financial year 0,00% NB: portion of subscription fees and redemption fees that the Fund retains, deducted from transfer fees and transaction costs. 0.60% Operating and management fees These fees cover all the fees invoiced directly to the Fund, with the exception of the transaction costs, and the outperformance fee, if any. The transaction costs include intermediation fees (brokerage, stock market taxes, etc.) and the transfer fee. (See below.) The operating and management fees include, among others, the costs of financial management, compensating distributors, administrative and accounting management plus any foreign accreditation, depositary, custody and audit costs. Cost induced by the purchase of other mutual and/or investment funds Some funds invest in other mutual and or foreign investment funds (known as "target funds"). The purchase and ownership of a target fund (or an investment fund) cause the purchasing fund to incur two types of costs that are assessed here: - Subscription and redemption fees. However, the portion of these commissions that is due to the target fund is treated as transaction costs, and so is not counted here. - Costs that are invoiced directly to the target fund, which constitute indirect costs for the purchasing fund. In certain cases, the purchasing fund is able to negotiate shared commissions, i.e. rebates on some of these fees. These rebates reduce the total cost that the purchasing fund actually incurs. Publication date:24 March.2009 8/13

Other fees invoiced to the Fund The Fund can be charged other fees. These are: - Outperformance fees. These reward the Asset Management Company when the Fund exceeds its objectives. - Transfer fees. The transfer fee is a fee invoiced to the Fund each time a transaction is made on the portfolio. The full prospectus details these fees. The Asset Management Company is entitled to such fees under the conditions specified in Section A of this simplified prospectus. Investors should note that these other costs are likely to vary significantly from year to year and that the figures presented here are those recorded during the previous year. Information on transactions during the latest financial year ending on 31.12.07. ACTIONS P USD Transaction fees for the portfolio represented 0.04% (a) of the average asset holdings. The turnover rate of the shares portfolio was -11% (b) of the average asset holdings. The turnover rate of the equity portfolio excluding subscriptions and redemptions was 56% of the average asset holdings. The transactions between the Asset Management Company on behalf of the funds that it manages and its affiliated companies have represented, as a proportion of all transactions during this year: Asset Class Shares Transactions 25% maximum (a) (b) The rate is negative when the portion of the entry fees and exit fees due to the Fund deducted from the transaction fees is higher than the value of the transaction fees. This situation reflects the fact that the transaction fees do not include the market effect that cannot be measured in accounting terms. The turnover rate is negative when the aggregated value of the subscriptions and redemptions exceeds the aggregated value of purchases and sales of shares. This result is partially attributable to the transactions on derivatives that are not included in the value of the purchases and sales. Publication date:24 March.2009 9/13

SSgA World Index Equity Fund I SHARES SIMPLIFIED PROSPECTUS SECTION B STATISTICS Fund s annualised performance as of 31 December 2007: (expressed in the Fund s reporting currency) I SHARES IN US 25.0% Annual Performance Performance 1 year 3 years 5 years Fund 9.05% None None 20.0% MSCI World 9.04% None None 15.0% 10.0% 5.0% 0.0% 2005 2006 2007 NOTICE: Past performance is no indication of future performance. Performance is not constant over time. Performance is calculated on the basis of net dividends being reinvested. Publication date:24 March.2009 10/13

Presentation of the costs invoiced to the fund during the last financial year ended 31.12.07 I SHARES IN USD Operating and management fees 0.24% + VAT Cost induced by the investment in other mutual funds or investment funds This cost is determined on the basis of: - the costs associated with purchasing the other mutual funds or investment funds - minus any commission sharing negotiated by the sub-fund's Asset Management Company 0,00% Other fees invoiced to the Fund These other fees can be broken down into: - outperformance fees - transfer fees (in %) Total billed to the Fund over the past financial year 0,00% NB: portion of subscription fees and redemption fees that the Fund retains, deducted from transfer fees and transaction costs. 0.24% Operating and management fees These fees cover all the fees invoiced directly to the Fund, with the exception of the transaction costs, and the outperformance fee, if any. The transaction costs include intermediation fees (brokerage, stock market taxes, etc.) and the transfer fee. (See below.) The operating and management fees include, among others, the costs of financial management, compensating distributors, administrative and accounting management plus any foreign accreditation, depositary, custody and audit costs. Cost induced by the purchase of other mutual and/or investment funds Some funds invest in other mutual and or foreign investment funds (known as "target funds"). The purchase and ownership of a target fund (or an investment fund) cause the purchasing fund to incur two types of costs that are assessed here: - Subscription and redemption fees. However, the portion of these commissions that is due to the target fund is treated as transaction costs, and so is not counted here. - Costs that are invoiced directly to the target fund, which constitute indirect costs for the purchasing fund. In certain cases, the purchasing fund is able to negotiate shared commissions, i.e., rebates on some of these fees. These rebates reduce the total cost that the purchasing fund actually incurs. Publication date:24 March.2009 11/13

Other fees invoiced to the Fund The Fund can be charged other fees. These are: - Outperformance fees. These reward the Asset Management Company when the Fund exceeds its objectives. - Transfer fees. The transfer fee is a fee invoiced to the Fund each time a transaction is made on the portfolio. The full prospectus details these fees. The Asset Management Company is entitled to such fees under the conditions specified in Section A of this simplified prospectus. Investors should note that these other costs are likely to vary significantly from year to year and that the figures presented here are those recorded during the previous year. Information on transactions during the latest financial year ending on 31.12.07. I SHARES IN USD Transaction fees for the portfolio represented 0.04% (a) of the average asset holdings. The turnover rate of the shares portfolio was -40% (b) of the average asset holdings. The turnover rate of the shares portfolio excluding subscriptions and redemptions was 56% of the average asset holdings. The transactions between the Asset Management Company on behalf of the funds that it manages and its affiliated companies have represented, as a proportion of all transactions during this year: Asset Class Shares Transactions 25% maximum (a) The rate is negative when the portion of the entry fees and exit fees due to the Fund deducted from the transaction fees is higher than the value of the transaction fees. This situation reflects the fact that the transaction fees do not include the market effect that cannot be measured in accounting terms. (b) The turnover rate is negative when the aggregated value of the subscriptions and redemptions exceeds the aggregated value of purchases and sales of shares. This result is partially attributable to the transactions on derivatives that are not included in the value of the purchases and sales. Publication date:24 March.2009 12/13

SSgA World Index Equity Fund I SHARES in EUR share class and P hedged EUR share class SIMPLIFIED PROSPECTUS SECTION B STATISTICS This section has not been filled in owing to the fact that this class of shares is not yet one year old. Publication date:24 March.2009 13/13