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Exhibit 99.(m)
DISTRIBUTION AND SERVICE PLAN
1. The Trust. streetTRACKS(SM) Series Trust (the "Trust") is an open-end
management investment company registered as such under the Investment Company
Act of 1940, as amended (the "1940 Act"), and organized as a series trust (each
such series is referred to herein as a "Fund").
2. The Plan. The Trust desires to adopt a plan of distribution pursuant to Rule
12b-1 under the 1940 Act with respect to the shares of beneficial interest
("Shares") of certain of the Funds which are identified in Exhibit A hereof, and
the Board of Trustees of the Trust (the "Board of Trustees") has determined that
there is a reasonable likelihood that adoption of this Distribution and Service
Plan (the "Plan") will benefit each such Fund (the "Designated Fund") and its
holders of Shares. Accordingly, each Designated Fund hereby adopts this Plan in
accordance with Rule 12b-1 under the 1940 Act on the following terms and
conditions (capitalized terms not otherwise defined herein have the meanings
assigned thereto in the Funds' registration statement under the 1940 Act and
under the Securities Act of 1933, as amended, as such registration statement is
amended by any amendments thereto at the time in effect).
3. The Distributor. The Trust has entered into a written Distribution Agreement
with State Street Capital Markets, LLC (the "Distributor"), pursuant to which
the Distributor will act as the exclusive distributor with respect to the
creation and distribution of Creation Unit size aggregations of Shares as
described in the Funds' registration statement ("Creation Units") of each Fund.
4. Payments. (a) The Trust may pay a monthly fee not to exceed 0.25% per annum
of each Fund's average daily net assets to reimburse the Distributor for actual
amounts expended to finance any activity primarily intended to result in the
sale of Creation Units of each Fund or the provision of investor services,
including but not limited to (i) delivering copies of the Trust's then-current
prospectus to prospective purchasers of such Creation Units; (ii) marketing and
promotional services including advertising; (iii) facilitating communications
with beneficial owners of shares of the Fund, and (iv) such other services and
obligations as are set forth in the Distribution Agreement. Such payments shall
be made within ten (10) days of the end of each calendar month. The
determination of daily net assets shall be made at the close of business each
day throughout the month and computed in the manner specified in the then
current Prospectus for the determination of the net asset value of Creation
Units.
(b) Distribution expenses incurred in any one year in excess of 0.25% of
each Fund's average daily net assets may be reimbursed in subsequent years
subject to the annual 0.25% limit and subject further to the approval of the
Board of Trustees including a majority of the Trustees who are not "interested
persons" of the Trust (as defined in the 1940 Act) and who have no direct or
indirect financial interest in the operation of this Plan or in any agreement
related to this Plan (the "Independent Trustees").
(c) The Distributor may use all or any portion of the amount received
pursuant to this Plan to compensate securities dealers or other persons that are
Authorized Participants for providing distribution assistance, including
broker-dealer and shareholder support and educational and promotional services,
pursuant to agreements with the Distributor, or to pay any of the expenses
associated with other activities authorized under paragraph 4(a) hereof.
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5. Effective Date. This Plan shall become effective upon approval by a vote of
both a majority of the Board of Trustees and a majority of the Independent
Trustees, cast in person at a meeting called for the purpose of voting on this
Plan.
6. Term. This Plan shall, unless terminated as hereinafter provided, remain in
effect with respect to the Designated Fund for one year from its effective date
and shall continue thereafter, provided that its continuance is specifically
approved at least annually by a vote of both a majority of the Trustees and a
majority of Independent Trustees, cast in person at a meeting called for the
purpose of voting on this Plan.
7. Amendment. This Plan may be amended at any time by the Board of Trustees,
provided that (a) any amendment to increase materially the amount to be spent
for the services provided for in paragraph 4 hereof shall be effective only upon
approval by a vote of a majority of the outstanding voting securities (as such
term is defined in the 1940 Act) of the Designated Fund, and (b) any material
amendment of this Plan shall be effective only upon approval by a vote of both a
majority of the Board of Trustees and a majority of the Independent Trustees,
cast in person at a meeting called for the purpose of voting on such amendment.
8. Termination. This Plan may be terminated at any time, without payment of any
penalty, by vote of a majority of the Independent Trustees, or by vote of a
majority of the outstanding voting securities (as such term is defined in the
1940 Act) of the Designated Fund. In the event of termination or non-continuance
of this Plan, the Trust may reimburse any expense which it incurred prior to
such termination or non-continuance, provided that such reimbursement is
specifically approved by both a majority of the Board of Trustees and a majority
of the Independent Trustees.
9. Assignment. This plan will not be terminated by an assignment, however, an
assignment will terminate any agreement under the plan involving any such
assignment.
10. Reports. While this Plan is in effect, the Distributor shall provide to the
Trustees, and the Trustees shall review, at least quarterly, a written report of
the amounts expended pursuant to the Plan and the purposes for which such
expenditures were made.
11. Records. The Trust shall preserve copies of this Plan, each agreement
related hereto and each report referred to in paragraph 9 hereof for a period of
at least six years from the date of the Plan, agreement and report, the first
two years in an easily accessible place.
12. Independent Trustees. While this Plan is in effect, the selection and
nomination of Independent Trustees shall be committed to the discretion of the
Trustees who are not "interested persons" of the Trust (as defined in the 1940
Act).
13. Severability. If any provision of the Plan shall be held or made invalid by
a court decision, statute, rule or otherwise, the remainder of the Plan shall
not be affected thereby.
Plan adopted: September 11, 2000
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EXHIBIT A
streetTRACKS(SM) Dow Jones U.S. Large-Cap Value Fund
streetTRACKS(SM) Dow Jones U.S. Large-Cap Growth Fund
streetTRACKS(SM) Dow Jones U.S. Small-Cap Value Fund
streetTRACKS(SM) Dow Jones U.S. Small-Cap Growth Fund
streetTRACKS(SM) Dow Jones Global Titans Index Fund
streetTRACKS(SM) Wilshire REIT Index Fund
streetTRACKS(SM) Morgan Stanley High Tech 35 Index Fund
streetTRACKS(SM) Morgan Stanley Internet Index Fund
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