TIAA-CREF Names Bertram L. Scott Executive Vice President and Chief Institutional Development and Sales Officer

New York, July 09, 2008

TIAA-CREF, the leading provider of retirement services in the academic, medical and cultural fields, today announced the appointment of Bertram L. Scott to the newly created role of Executive Vice President and Chief Institutional Development and Sales Officer.

In his new role, Mr. Scott will be responsible for TIAA-CREF’s business development, sales and marketing to current and prospective institutional clients, retirement plan sponsors, benefits consultants and other institutional audiences. He brings to this role extensive experience in all aspects of pensions, sales and strategy.

Mr. Scott is based in Charlotte and will collaborate closely with Edward Van Dolsen, the company’s Executive Vice President for Institutional Client Services, to deliver clients an integrated and enhanced offering that helps meet their current and future financial needs.

"Bert’s knowledge of institutional clients and his wealth of experience make him an ideal executive to oversee our institutional sales and development, which will be instrumental in broadening our relationships with current clients and winning new business," said Roger W. Ferguson, Jr., President and Chief Executive Officer of TIAA-CREF. "Our company’s expertise in plan design, retirement income and asset management, together with our exclusive focus on higher education, research and other nonprofit organizations make TIAA-CREF uniquely able to help these institutions meet their financial and strategic needs. Bert’s proven track record in all facets of strategy and sales will enable us to deliver this value to clients and grow."

"We have an exciting opportunity to be institutions’ preferred partner," said Mr. Scott. "Our comprehensive offering of performance, value, objective advice and financial strength enables institutions to strategically address employee benefits, planned giving, endowments and other financial needs, while providing their employees with the option of guaranteed lifetime income."

Mr. Van Dolsen added: "I am very pleased that Bert has agreed to join me in serving our institutional client base. Together we will reinforce with our current and prospective clients TIAA-CREF’s many advantages, and explore how they can benefit from our knowledge, capabilities, solutions and 90 years of experience."

TIAA-CREF’s clients include more than 15,000 institutions and more than 3.4 million of their employees in the academic, research, medical and cultural fields.

Since 2006, Mr. Scott has served as Executive Vice President, Strategy, Integration and Policy, responsible for corporate strategy, merger and acquisition activities, business process reengineering and enterprise-wide implementation, coordination and oversight, and will continue to oversee this area. Previously, he headed the company’s product management group. Mr. Scott joined TIAA-CREF in 2000 as president of the TIAA-CREF Life Insurance Company, where he was responsible for sales and marketing, product development, systems and finance.

Before joining TIAA-CREF, Mr. Scott served as president and CEO of Horizon Mercy, a joint Medicaid managed care program between Mercy Health Plan of Pennsylvania and Blue Cross/Blue Shield of New Jersey. He began his career with the Prudential Insurance Company, where he was a vice president in charge of marketing and later vice president of Managed Care Operations.

Mr. Scott is a graduate of DePaul University, and member of the boards of Becton, Dickinson and Company, DePaul University, Carolinas Medical Center and the University of North Carolina at Charlotte.

In 2004, he was named one of the "75 Most Powerful Blacks in Corporate America" by Black Enterprise magazine and, in 2002, one of Fortune’s "50 Most Powerful Black Executives in America." He received DePaul University’s School for New Learning David O. Justice Award in 2002.

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 $420 billion in combined assets under management. (3/31/08).

Media Contact:

Chad Peterson, Director, Corporate Media Relations
cpeterson@tiaa-cref.org, 212 916-4808