<PAGE> PAGE 1
000 A000000 06/30/99
000 C000000 0001011008
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 STATE STREET NAVIGATOR SECURITIES LENDING TR
001 B000000 811-07567
001 C000000 6179851850
002 A000000 TWO INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 STATE STREET NAVIGATOR SEC. LEND. PRIME PORT.
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 STATE STREET GLOBAL ADVISORS
008 B00AA01 A
008 C00AA01 801-XXXXXX
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02110
010 A00AA01 STATE STREET BANK AND TRUST CO.
010 B00AA01 85-05003
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02110
012 A00AA01 STATE STREET BANK AND TRUST CO.
012 B00AA01 84-05003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02110
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
<PAGE> PAGE 2
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02119
014 A00AA01 STATE STREET BROKERAGE SERVICES, INC.
014 B00AA01 8-XXXXXXXX
015 A00AA01 STATE STREET BANK AND TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E03AA01 X
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 LEHMAN GOV'T SECURITIES
022 B000001 13-2518466
022 C000001 22822815
022 D000001 0
022 A000002 EURO BROKERS, INC.
022 B000002 13-3410896
022 C000002 15947042
022 D000002 0
022 A000003 GENERAL ELECTRIC CAPITAL CORP.
022 C000003 10225183
022 D000003 0
022 A000004 MERRILL LYNCH, PIERCE, FENNER AND SMITH, INC.
022 B000004 13-5674085
022 C000004 9383362
022 D000004 0
022 A000005 EXCO RMJ INTERNATIONAL
022 C000005 9066606
022 D000005 0
022 A000006 CHASE SECURITIES, INC.
022 B000006 13-3112953
022 C000006 8685592
022 D000006 0
022 A000007 J.M. LUMMIS AND CO.
022 B000007 13-3767500
022 C000007 7660954
022 D000007 0
022 A000008 GENERAL MOTORS ACCEPTANCE CORP.
022 C000008 6324702
022 D000008 0
<PAGE> PAGE 3
022 A000009 PREBON
022 B000009 13-2613185
022 C000009 6035054
022 D000009 0
022 A000010 FIRST BOSTON
022 C000010 5762011
022 D000010 0
023 C000000 147682503
023 D000000 0
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054 F00AA00 N
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<PAGE> PAGE 4
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
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054 O00AA00 N
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077 A000000 Y
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 C010100 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE ANNA RODRIQUES
TITLE MANAGER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001011008
<NAME> STATE STREET NAVIGATOR SECURITIES LENDING PRIME PORT.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 10,179,356,072
<INVESTMENTS-AT-VALUE> 10,179,356,072
<RECEIVABLES> 57,431,309
<ASSETS-OTHER> 143,370
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,236,930,751
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,883,109
<TOTAL-LIABILITIES> 21,883,109
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,215,047,516
<SHARES-COMMON-STOCK> 10,215,047,516
<SHARES-COMMON-PRIOR> 6,792,287,194
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 126
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 10,215,047,642
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 231,282,887
<OTHER-INCOME> 0
<EXPENSES-NET> 1,370,428
<NET-INVESTMENT-INCOME> 229,912,459
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 229,912,459
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (229,912,459)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 38,490,467,050
<NUMBER-OF-SHARES-REDEEMED> 35,067,706,728
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,422,760,322
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 126
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 807,127
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,370,428
<AVERAGE-NET-ASSETS> 9,300,752,569
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.03
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
EXHIBIT 77-N
On August 13, 1999, we confirmed by telephone to the
staff of the Division of Investment Management that the
State Street Navigator Securities Lending Trust Prime
Portfolio held certain debt obligations (the Obligations)
issued by General American Life Insurance Company. The
approximate principal amount of the Obligations held by
the Fund and the approximate percentage of the Funds net
assets represented by the Obligations, as of June 30,
1999, were as follows:
NAME OF FUND State Street Navigator
Securities Lending
Prime Portfolio
APPROXIMATE PRINCIPAL
AMOUNT OF OBLIGATIONS HELD
(in Millions) $50
APPROXIMATE PERCENTAGE
OF FUNDS NET ASSETS
REPRESENTED BY THE OBLIGATIONS 0.49%
The Fund has an unconditional right upon demand to
receive payment of the outstanding principal of the
Obligations it holds plus accrued interest thereon, which
demand may be made at any time upon not more than thirty
days notice. On August 2, 1999 the Fund submitted a
proper demand for the entire amount of the principal and
accrued interest on the Obligations it held. Shortly
thereafter, General American announced that it would not
be paying on certain seven day puts which were submitted
at the same time.
An in person board meeting was held on August 12, 1999,
where the board members were fully apprised of the
situation. Subsequently, two telephonic meetings of the
Board of Trustees of the Fund were held on August 19,
1999 and August 26, 1999. At these meetings the Trustees
approved the valuation methodology on a fair market value
basis, and determined that disposal of the obligations by
sale would not be in the Funds best interest. The Fund
also agreed to General Americans proposal to extend the
maturity date of the thirty day put option in return for
partial payment of principal. The Board of Trustees and
management are continuing to monitor the status of this
investment.
2
