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Reilly Named TIAA-CREF Chief Compliance Officer

New York, January 19, 2006 --

TIAA-CREF today announced that James G. Reilly has been appointed Senior Vice President and Chief Compliance Officer (CCO) for TIAA-CREF. 

As CCO, Reilly will work in conjunction with the business and support area units to develop and maintain compliance processes and procedures which integrate controls into the business processes.  Reilly joins TIAA-CREF from Goldman, Sachs & Co. where he most recently served as Managing Director, Head of Global Equities Compliance.  Reilly's experience includes creating and maintaining surveillance programs, designing employee related policies, and extensive experience dealing with complex regulatory issues.

"TIAA-CREF is committed to maintaining a world-class compliance function," said George W. Madison, TIAA-CREF Executive Vice President and General Counsel.  Reilly will report to Madison, and the audit committees of TIAA and CREF. "Jim joins TIAA-CREF with a proven track record of planning, implementing and maintaining 'best in class' compliance programs that will benefit our participants and clients."

Reilly joins TIAA-CREF with over 15 years experience as a senior compliance professional having worked at Goldman, Sachs & Co., Paine Webber, Inc, First Union Capital Markets Corp, and Salomon Smith Barney.  He holds a bachelor's degree in finance from University of Maryland, College Park, MD, where he now serves on the Dean's Advisory Council of the Robert H. Smith School of Business.

Reilly permanently replaces Carol Baldwin Moody who resigned for family reasons in October 2005.

About TIAA-CREF
TIAA-CREF is a national financial services organization with more than $360 billion in combined assets under management (9/30/05) and the leading provider of retirement services in the academic, research, medical and cultural fields.  Further information can be found at http://www.tiaa-cref.org.

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