TIAA-CREF Selected to Manage Oregon College Savings Plan

New York, July 30, 2009

TIAA-CREF Tuition Financing, Inc. (TFI) announced today that in a competitive process, the organization has been selected to provide program management services for the Oregon College Savings Plan. TFI is part of the TIAA-CREF group of companies, the financial services organization and leading provider of retirement services in the academic, research, medical and cultural fields.

"We are honored to have the opportunity to begin a relationship with the Oregon College Savings Plan and look forward to working closely with the Treasurer’s Office to provide Oregon families with more opportunities to send their children, grandchildren and other loved ones to college," said Doug Chittenden, President, TFI.

"We strive to offer very attractive plans to each state that we manage, and have built our reputation in the 529 field with, solid investment options and choices to help people manage their investments," Chittenden said. "With the cost of college education on the rise, we will continue to help families plan for the best investment they can make in a child's future -- a college education."

TFI has been a leading provider of program management services in the 529 plan market since 1999 and currently serves as the program manager for 8 other states.

About TIAA-CREF
The TIAA-CREF group of companies is a national financial services organization with nearly $375 billion in combined assets under management (as of 06/30/09) and the leading provider of retirement services in the academic, research, medical and cultural fields. Further information can be found at www.tiaa-cref.org.

Media Contact:

Jennifer L. Compton, Sr Media Relations Officer, Corporate Media Relations
jcompton@tiaa-cref.org, 212 490-9000, ext. 3486 Cell: 917 597-8896