Mutual Funds: Distributions

July 2012 Monthly Distribution Rates
  Amount NAV on
07/31/2012
Record Date Reinvest/Payable Date
Bond $0.020933 $11.07 07/30/2012 07/31/2012
Bond Index $0.014980 $11.06 07/30/2012 07/31/2012
Bond Plus $0.024713 $10.88 07/30/2012 07/31/2012
High-Yield $0.047876 $10.19 07/30/2012 07/31/2012
Money Market $0.000000 $1.00 07/30/2012 07/31/2012
Short-Term Bond $0.010109 $10.49 07/30/2012 07/31/2012
Tax-Exempt Bond $0.025472 $11.18 07/30/2012 07/31/2012
June 2012 Quarterly Distribution Rates
  Amount NAV on
06/29/2012
Record Date Reinvest/Payable Date
Growth & Income $0.023400 $12.14 06/28/2012 06/29/2012
Inflation-Linked Bond $0.166090 $12.02 06/28/2012 06/29/2012
Lifecycle Retirement Income $0.040650 $10.03 06/28/2012 06/29/2012
Managed Allocation $0.029750 $10.18 06/28/2012 06/29/2012
Real Estate Securities $0.036040 $12.19 06/28/2012 06/29/2012
Final 2011 Year-End Distributions*
  Ordinary
Income
Short-Term
Capital Gain**
Long-Term
Capital Gain**
Total
Distribution
Record Date: December 8, 2011
Ex/Pay/Reinvest Date: December 9, 2011
Bond $0.00000 $0.15087 $0.11822 $0.26909
Bond Plus $0.00000 $0.00000 $0.01441 $0.01441
Emerging Markets Equity $0.03019 $0.00000 $0.00000 $0.03019
Emerging Markets Equity Index $0.12168 $0.03562 $0.00057 $0.15787
Equity Index $0.10953 $0.00000 $0.00000 $0.10953
Global Natural Resources $0.01417 $0.00000 $0.00000 $0.01417
Growth & Income $0.02598 $0.00000 $0.07760 $0.10358
Inflation-Linked Bond $0.01798 $0.00000 $0.01414 $0.03212
International Equity $0.12113 $0.00000 $0.00000 $0.12113
Large-Cap Growth $0.00001 $0.00000 $0.09729 $0.09730
Large-Cap Value $0.15302 $0.00000 $0.00000 $0.15302
Mid-Cap Growth $0.00000 $0.00000 $0.72384 $0.72384
Mid-Cap Value $0.18270 $0.00000 $0.00000 $0.18270
Real Estate Securities $0.03735 $0.00000 $0.00000 $0.03735
Short-Term Bond $0.00000 $0.00601 $0.05421 $0.06022
Small-Cap Equity $0.06127 $0.00000 $0.42588 $0.48715
Social Choice Equity $0.16304 $0.00000 $0.00000 $0.16304
Record Date: December 15, 2011
Ex/Pay/Reinvest Date: December 16, 2011
Lifecycle Retirement Income $0.15859 $0.00000 $0.00000 $0.15859
Lifestyle Conservative $0.00701 $0.00000 $0.00000 $0.00701
Lifestyle Growth $0.00180 $0.00000 $0.00000 $0.00180
Lifestyle Income $0.00851 $0.00000 $0.00000 $0.00851
Lifestyle Moderate $0.00525 $0.00000 $0.00000 $0.00525
Managed Allocation $0.13994 $0.00000 $0.00000 $0.13994

* 2011 Mutual Fund Distribution Notice: Above are the final distribution amounts for the TIAA-CREF Funds — Retail Class. For year-end distributions, shareholders of record at the close of business of the NYSE on December 08, 2011 were eligible to receive distributions for these funds. Ex, Payable and Reinvestment dates for these funds was December 09, 2011. The High-Yield, Bond Index, Bond Plus, Bond, Short-Term Bond, Tax-Exempt Bond and Money Market funds distributed income to shareholders of record on their normal monthly schedule.

For year-end distributions, shareholders of record at the close of business of the NYSE on December 15, 2011 were eligible to receive distributions from these funds. Ex, Payable and Reinvestment Dates for these funds was December 16, 2011.

** Distributions from long-term capital gain are generally subject to tax at a rate of 15%.
Distributions from short-term capital gains are generally taxed at higher ordinary income rates.

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

© 2014 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017