TIAA-CREF Names Cara L. Schnaper Executive Vice President, Technology and Operations

New York, February 04, 2008

TIAA-CREF, the leading provider of retirement savings products and services in the academic, medical and cultural fields, today announced the appointment of Cara L. Schnaper as Executive Vice President, Technology and Operations, a newly created position. Peter Murphy, who has been serving as Acting Chief Technology Officer, will resume his role as Chief Information Security Officer.

Ms. Schnaper’s responsibilities will include continuing to upgrade the company’s systems and technology infrastructure, overseeing technology strategy and policy, and ensuring an integrated approach between the company’s information technology and operations groups.

"We are very pleased to welcome an executive of Cara’s talent and experience to our management team," said Herb Allison, chief executive of TIAA-CREF. "Her extensive expertise in managing the operations and technology divisions of a major financial services company will allow us to continue integrating our technology operations into our long-term business strategy and further strengthen the capabilities that allow us to deliver new products and services to clients and meet their evolving needs."

Most recently, Ms. Schnaper was a principal at Market Resolve, LLC, a firm specializing in providing operations and technology consulting to financial services companies. Previously, Ms. Schnaper oversaw a staff of 2,000 responsible for supplying operational infrastructure to the Investment Banking division of JP Morgan Chase & Co. She was instrumental in the integration of operations and technology for the markets businesses during the merger of JP Morgan and Chase, and previously served as head of technology and operations for JP Morgan’s equities business.

Ms. Schnaper holds a bachelor’s degree and an MBA from Cornell University.

About TIAA-CREF
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with more than $435 billion in combined assets under management (12/31/2007).

Media Contact:

Chad Peterson, Director, Corporate Media Relations
cpeterson@tiaa-cref.org, 212 916-4808 Cell: 917 715-9083