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Intelligent Variable Annuity

Credit Suisse Small Cap Core I Portfolio

Seeks capital growth by maintaining a diversified portfolio of small-cap U.S. companies.
Unit value as of 09/05/2008: $14.39
Total return year-to-date as of 09/05/2008: 1.69%
Expense charge*: 1.52%
Inception date: 02/05/2008
Investment class: U.S. Equity
Financial Performance
Performance Data
as of 09/05/2008
Average Annual Total Returns
as of 08/31/2008
Unit
Value
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since
Inception
$14.39 +0.63% 1.69% -- -- -- -- 4.45%

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.

Stocks of small and mid-cap stocks may have limited marketability and may be subject to more abrupt or erratic market movements than large-cap stocks.

1.The inception date for this account is February 5, 2008. Year-to-date performance is calculated from the inception date.
2.The "Since Inception" values presented are cumulative values and not average annualized total returns.
* Includes both separate account and fund level charges.  The maximum total annual expense charge without the waiver is 1.72%. Separate account charges reflect the highest possible mortality and expense risk charge although they may be lower.  See the prospectus for additional information.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please click here or call 1 877 518-9161 for a prospectus that contains this and other information. Please read the prospectus carefully before investing. TIAA-CREF Life Insurance Company (TIAA-CREF Life), New York, NY issues after-tax annuities. Investment products are not FDIC insured, may lose value, and are not bank guaranteed.

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