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Retail Mutual Funds

Short-Term Bond*

(TCSTX)

The fund seeks high current income consistent with preservation of capital.
Net Asset Values
Click here to download the individual values represented in this graph by using our Download Data facility.
Net asset value as of 04/20/2007: $10.31
Total return year-to-date as of 04/20/2007: 1.52%
Gross Expense Ratio: 0.30%
Net Expense Ratio: 0.30%
Inception date: 04/03/2000
Investment class: Fixed Income

As of 04/19/2007: 30-day yield 4.91%
Performance Comparison
  Performance Data
as of 04/20/2007
Average Annual Total Returns
as of 03/31/2007
Net Asset
Value
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since
Inception
Short-Term Bond $10.31  0.00% 1.52% 5.64% 2.47% 4.07% -- 5.30%
Barclays Capital U.S. Govt./Credit 1-5 Year Index --  -0.02% 5.21% -- -- -- -- --

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 shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.

* This fund is closed to new investors.
The Barclays Capital U.S. Government/Credit (1-5 year) Index measures the performance primarily of U.S. Treasury and agency securities, and corporate bonds with 1-5 year maturities. You cannot invest directly in this index.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc. 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.  Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Investment products are not FDIC insured, may lose value, and are not bank guaranteed.

C35492
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