-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SoVVbaZ4WX99+TepDPAyTkkFtZI/NZ6lYdEGWJObiyAIo6uikRQQFcZLQszzcXTW
 HnmoQ6TOul++NUuWl9h8GQ==

<SEC-DOCUMENT>0000950136-05-006876.txt : 20051102
<SEC-HEADER>0000950136-05-006876.hdr.sgml : 20051102
<ACCEPTANCE-DATETIME>20051102120923
ACCESSION NUMBER:		0000950136-05-006876
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20051102
DATE AS OF CHANGE:		20051102
EFFECTIVENESS DATE:		20051102

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPDR TRUST SERIES 1
		CENTRAL INDEX KEY:			0000884394
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-46080
		FILM NUMBER:		051172267

	BUSINESS ADDRESS:	
		STREET 1:		86 TRINITY PLACE
		STREET 2:		C/O PDR SERVICES LLC/ AMEX INC
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
		BUSINESS PHONE:		212-306-1844

	MAIL ADDRESS:	
		STREET 1:		86 TRINITY PLACE
		STREET 2:		PDR SERVICES LLC C/O AMERICAN STOCK EXC
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>file001.htm
<DESCRIPTION>DEFINITIVE MATERIALS
<TEXT>
<HTML>
<HEAD>
<TITLE>
</TITLE>
</HEAD>
<BODY>


<page>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">SECOND
SUPPLEMENTAL PROSPECTUS DATED 2 NOVEMBER 2005</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:12pt;  width: 456pt; text-align: center; font-style: normal; line-height: 16pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">STANDARD
&amp; POOR'S DEPOSITARY RECEIPTS<sup>&reg;</sup>
<br>
("SPDRs<sup>&reg;</sup>")</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:12pt;  width: 456pt; text-align: center; font-style: normal; line-height: 14pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 6pt; background-color: #ffffff;">SPDR TRUST,
SERIES 1<br> (A Unit Investment Trust organized in the United
States)</p>
<!--0--><table border="0" cellpadding="0" cellspacing="0" width="602">
<tr>
<td><img src="spacer.gif" width="1" height="3"></td>
</tr>
<tr>
<td><img src="spacer.gif" height="1" width="253"></td>
<td bgcolor="#000000"><img src="spacer.gif" height="1"><img src="spacer.gif" height="1" width="95"></td>
<td><img src="spacer.gif" height="1" width="253"></td>
<td><img src="spacer.gif" height="1" width="507"></td>
</tr>
<tr>
<td><img src="spacer.gif" height="8" width="1"></td>
</tr>
</table>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">A copy of this Second
Supplemental Prospectus has been lodged with the Monetary Authority of
Singapore on 2 November 2005 who takes no responsibility for its
contents.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 13pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">This Second Supplemental Prospectus is supplemental to
the Prospectus dated January 31, 2005 (the
"<b>Prospectus</b>") relating to the
SPDRs<sup>&reg;</sup> which was registered with the Monetary Authority of
Singapore on January 31, 2005.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">This Second Supplemental
Prospectus shall be read and construed in conjunction with and as one
document with the Prospectus and the First Supplemental Prospectus
dated February 2, 2005. Terms defined and references construed in the
Prospectus shall have the same meaning and construction in this Second
Supplemental Prospectus.</p>
<p style="font-family:serif;font-weight:normal;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:0pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">The Prospectus is hereby amended as
follows:</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">The final paragraph found at
page i. of the prospectus is hereby deleted and substituted with the
following new paragraph:</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 13pt; padding-top:6pt; padding-left:40pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">"Standard &amp;
Poor's<sup>&reg;</sup>",
"S&amp;P<sup>&reg;</sup>", "S&amp;P
500<sup>&reg;</sup>", "Standard &amp; Poor's
500<sup>&reg;</sup>", "500",
"Standard &amp; Poor's Depositary
Receipts<sup>&reg;</sup>" and "SPDRs<sup>&reg;</sup>"
are trademarks of The McGraw-Hill Companies, Inc. State Street Global
Markets, LLC is permitted to use these trademarks pursuant to a
"License Agreement" with Standard &amp;
Poor's, a division of The McGraw-Hill Companies, Inc., and SPDR
Trust, Series 1, is permitted to use these trademarks pursuant to a
sublicense from State Street Global Markets, LLC. SPDR Trust, Series 1,
is not, however, sponsored by or affiliated with Standard &amp;
Poor's or the McGraw-Hill Companies, Inc.</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:20pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 0pt; background-color: #ffffff">The first two paragraphs under the heading
"License Agreement" found at page 48 of the
prospectus are hereby deleted and substituted with the new
paragraphs:</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: center; font-style: normal; line-height: 12pt; padding-top: 12pt; padding-left:0pt; padding-right:0pt; margin: 0pt; text-indent: 0pt; padding-bottom: 0pt; background-color: #ffffff;">LICENSE AGREEMENT</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:40pt; padding-right:0pt; padding-bottom: 0pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">The License Agreement grants State Street
Global Markets, LLC, an affiliate of the Trustee
("SSGM"), a license to use the S&amp;P 500
Index as a basis for determining the composition of the Portfolio and
to use certain trade names and trademarks of S&amp;P in connection with
the Portfolio. The Trustee on behalf of the Trust, the Sponsor and the
Exchange have each received a sublicense from SSGM for the use of the
S&amp;P 500 Index and such trade names and trademarks in connection
with their rights and duties with respect to the Trust. The License
Agreement may be amended without the consent of any of the Beneficial
Owners of SPDRs. Currently, the License Agreement is scheduled to
terminate on December 31, 2017, but its term may be extended beyond
such date without the consent of any of the Beneficial Owners of
SPDRs.</p>
<p style="font-family:serif;font-weight:bold;color:#000000;font-size:10pt;  width: 456pt; text-align: left; font-style: normal; line-height: 12pt; padding-top:6pt; padding-left:40pt; padding-right:0pt; padding-bottom: 6pt; margin: 0pt; text-indent: 20pt; background-color: #ffffff">None of the Trust, the Trustee,
the Exchange, the Sponsor, SSGM, the Distributor, DTC, NSCC, any
Authorized Participant, any Beneficial Owner of SPDRs or any other
person is entitled to use any rights whatsoever under the foregoing
licensing arrangements or to use the trademarks "Standard
&amp; Poor's", "S&amp;P",
"S&amp;P 500", "Standard &amp;
Poor's 500" or "500" or to
use the S&amp;P 500 Index except as specifically described herein or as
may be specified in the Trust Agreement.</p>
<br>
<hr width="760" style="padding-left: 0pt;" align="left">
<br>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>spacer.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 spacer.gif
K1TE&.#EA`0`!`(```````````"'Y!`$`````+``````!``$```("1`$`.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
