TIAA-CREF Launches Global Natural Resources Fund

Provides Diversification, Potential Inflation Hedge and Opportunity for Growth; Global Population of Seven Billion Expected To Drive Long-Term Demand for Resources

New York - December 13, 2011 - TIAA-CREF today announced the launch of the Global Natural Resources Fund (TNRLX, TNRRX, TNRIX), a mutual fund designed to provide investors with exposure to stocks in the natural resources sector.

“We believe seven billion people around the world will drive powerful long-term demand in the natural resources sector,” said Navaneel Ray, portfolio manager, TIAA-CREF Global Natural Resources Fund. “This demand, bolstered by income growth in developing countries and the scarcity of supply sources will help sustain pricing power for commodity producers.

“Regardless of short-term volatility in financial markets, we believe these factors offer an attractive long-term investment opportunity.”

The Fund will primarily invest in equities of companies engaged in the ownership, development, exploration, production, distribution or processing of natural resources such as energy, basic materials and agriculture products. The Fund may also invest in companies that are well positioned as suppliers to the natural resources sector.

Ray continued, “Historically, demand for energy, basic materials and agricultural products have tracked global GDP growth and changes in industrial production, making the sector a potential hedge against inflation. In addition, commodities and commodity-linked equities offer attractive diversification benefits and protection against U.S. dollar weakness, when added to a U.S. dollar equity portfolio.”

The TIAA-CREF Global Natural Resources Fund will seek to maintain relatively balanced sector exposures, with its benchmark equally weighted among energy, agriculture and metals. While the fund will deviate from the benchmark’s equal sector weightings based on the investment opportunities available, in general, this fund offers a broader and more balanced exposure to the natural resources sector than a purely market capitalization-weighted fund or an energy sector fund.

The TIAA-CREF Global Natural Resources Fund leverages the extensive experience of TIAA-CREF’s global equity research team, including in emerging markets; and in the various sub-sectors within natural resources, as well as the organization’s long-term investment perspective.

Navaneel Ray, CFA, is a managing director for the TIAA-CREF organization and has over 17 years of industry experience. Mr. Ray is responsible for following the global metals/mining and international energy sectors. He joined the TIAA-CREF organization in 2005.

The Fund’s Retail Class shares are available for purchase through certain financial intermediaries or by contacting the Fund directly at 800 223-1200 or www.tiaa-cref.org. Retirement Class shares are generally available for purchase through employee benefit plans or other types of savings plans or accounts such as TIAA-CREF IRAs. Institutional Class shares are available for purchase directly from TIAA-CREF by certain eligible investors or through financial intermediaries.

About TIAA-CREF
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $440 billion in combined assets under management (as of 9/30/11) and is the leading provider of retirement services in the academic, research, medical and cultural fields.

Media Contact:
Abby Aylman Cohen
TIAA-CREF
212 916-4381
aacohen@tiaa-cref.org

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