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TIAA Variable Annuity Accounts

Real Estate

The TIAA Real Estate Account seeks favorable long-term returns primarily through rental income and appreciation of real estate investments owned by the account.
Unit Values
Click here to download the individual values represented in this graph by using our Download Data facility.
Unit value as of 10/06/2008: $307.94
Total return year-to-date as of 10/06/2008: -1.12%
3-month cumulative rate of return as of 06/30/2008: 0.27%
Net invested assets as of 06/30/2008: $17.06 billion
Expense charge*: 0.84%
Inception date: 10/02/1995
Investment class: Real Estate
Financial Performance
Performance Data
as of 10/06/2008
Average Annual Total Returns
as of 09/30/2008
Unit
Value
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since
Inception¡
$307.94 -0.02% -1.12% 1.00% 9.85% 10.83% 9.00% 8.93%

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.

The account is subject to special risks including real estate investing risks, financial risk, market risk, income volatility risk and foreign investment risks.

Some Important Information for TIAA-CREF California Participants:

In California, the TIAA Real Estate Account is available through IRAs, but not all employer-sponsored plans. Please contact us to determine if your institution's plan can accept investments into the account. Feel free to contact us between the hours of 8:30 a.m. PT and 4:30 p.m. PT, Monday through Friday, at the following toll-free numbers:

San Francisco Office: 800 842-2007
Newport Beach Office: 877 209-3140
Pasadena Office: 866 842-2905

*We estimate expenses for the year based on projected expense and asset levels. Differences between estimated and actual expenses are adjusted quarterly and reflected in current investment results.
¡From November 30, 2007 on, the since inception performance shown is computed from the inception date of the account (the date on which the account became publicly available). Previously, since inception performance for this account was computed from the net asset value per share on the day prior to the inception date.

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 (Teachers Insurance and Annuity Association) New York, NY issues annuities. Investment products are not FDIC insured, may lose value, and are not bank guaranteed.

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