TIAA-CREF Selected to Manage Oregon College Savings Plan

NEW YORK--(Business Wire)--
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.

©2009 Teachers Insurance and Annuity Association-College Retirement Equities
Fund, New York, NY 10017.

C45310

Media:
Jennifer L. Compton, 212-916-6066
Media Relations Manager-TIAA-CREF
jcompton@tiaa-cref.org

Copyright Business Wire 2009