Intelligent Variable Annuity

Credit Suisse Trust - International Equity Flex III Portfolio

Formerly the Global Small-Cap Portfolio, this fund seeks long-term growth of capital by investing in equity securities of small U.S. and foreign companies.

Unit value as of 11/11/2011 : --
Total return year-to-date as of 11/11/2011 : --
Expense charge 1 : 3.03%
Inception date : 12/31/1997
Investment class : International
Performance Comparison
  Performance Data
as of 11/11/2011
Average Annual Total Returns
as of 12/31/2011
  Unit
Values
Net
Change
YTD
Return
1 Year 3 Year 5 Year 10 Year Since Inception
Credit Suisse Trust - International Equity Flex III Portfolio -$9,999.00 -- -- -- -- -- -- --
-- 0.00% % % % % % %

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. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

Stocks of small and mid-cap stocks may have limited marketability and may be subject to more abrupt or erratic market movements than large-cap stocks. Funds that invest in foreign securities are subject to special risks, including currency fluctuation and political and economic instability. These investment risks may be magnified in emerging markets.

Effective December 11, 2009, the Credit Suisse Trust – International Equity Flex II Account was merged into the Credit Suisse Trust International Equity Flex III Account. The performance shown reflects the performance of the Credit Suisse Trust International Equity Flex III from its inception.

1.
Includes both separate account and fund level charges. The maximum total annual expense charge without the waiver is 3.23%. Separate account charges reflect the highest possible mortality and expense risk charge although they may be lower. The unit value reflects the election of the Guaranteed Minimum Death Benefit. See the prospectus for additional information.

Effective April 12, 2010, the Credit Suisse Trust - International Equity Flex III Portfolio no longer accept investments.

TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. 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.

© 2012 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017