TIAA-CREF Asset Management Names Nick Mencher Head of Consultant Relations

Business Wire, June 10, 2008

NEW YORK -- TIAA-CREF Asset Management, the asset management group of TIAA-CREF, today named Nick Mencher Managing Director, Head of Consultant Relations.

Mencher is responsible for developing and executing strategies for TIAA-CREF's third party institutional consultant outreach efforts as well as for overseeing TIAA-CREF Asset Management's Request for Proposal (RFP) unit.

Mencher was previously responsible for new product development and product management for the institutional, high net worth and foreign investor market segments.

"Nick's deep understanding of, and extensive experience in, the institutional asset management field will be a valuable resource in our efforts to bring TIAA-CREF's investment capabilities to an even wider group of investors, and will help us to best meet the needs of consultants," said Jeffrey Margolis, Senior Managing Director, Asset Management Business Development.

Mencher came to TIAA-CREF after 15 years with INVESCO, where he last served as Regional Risk Director, responsible for the measuring, monitoring and remediation of operational risk across the organization's U.S. institutional and high net worth businesses.

Mencher will report to Margolis and will work from the company's Atlanta office.

About TIAA-CREF Asset Management

TIAA-CREF Asset Management([R]), a division of Teachers Advisors, Inc., provides institutional investors and other intermediaries with access to the TIAA-CREF([R]) organization's sophisticated investment management, research and analytical capabilities. Its investment strategies cover a wide spectrum of asset classes, from traditional equity and fixed income to real estate and other alternatives.

With $420 billion in combined assets under management as of March 31, 2008, TIAA-CREF is best known as the leading provider of retirement services in the academic, research, medical and cultural fields and one of the largest institutional real estate investors in the U.S. with more than US$69 billion invested in real estate assets.

Teachers Advisors, Inc. is a registered investment advisor and wholly owned subsidiary of Teachers Insurance and Annuity Association (TIAA). TIAA, TIAA-CREF, Teachers Insurance and Annuity Association, TIAA-CREF Asset Management and FINANCIAL SERVICES FOR THE GREATER GOOD are registered trademarks of Teachers Insurance and Annuity Association.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.

Annuity products are issues by TIAA (Teachers Insurance and Annuity Association), New York, NY.

(c)2008 Teachers Insurance and Annuity Association-College Retirement Equities Fund, New York, NY 10017

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