Mutual Funds: Distributions

Final 2010 Year-End Distributions*
  Ordinary
Income
Short-Term
Capital Gain**
Long-Term
Capital Gain**
Total
Distribution
Record Date: December 9, 2010
Ex/Pay/Reinvest Date: December 10, 2010
Bond $0.000000 $0.094600 $0.025440 $0.120040
Bond Index $0.000000 $0.005980 $0.001490 $0.007470
Bond Plus $0.000000 $0.000000 $0.000000 $0.000000
Emerging Markets Equity $0.000000 $0.019080 $0.000000 $0.019080
Emerging Markets Equity Index $0.010060 $0.011490 $0.000000 $0.021550
Equity Index $0.139240 $0.000000 $0.000000 $0.139240
Growth & Income $0.020870 $0.000000 $0.000000 $0.020870
High-Yield $0.000000 $0.000000 $0.000000 $0.000000
Inflation-Linked Bond $0.044530 $0.000000 $0.000000 $0.044530
International Equity $0.066990 $0.000000 $0.000000 $0.066990
Large-Cap Growth $0.012330 $0.000000 $0.000000 $0.012330
Large-Cap Value $0.132080 $0.000000 $0.000000 $0.132080
Mid-Cap Growth $0.000000 $0.000000 $0.000000 $0.000000
Mid-Cap Value $0.207060 $0.000000 $0.000000 $0.207060
Real Estate Securities $0.039430 $0.000000 $0.000000 $0.039430
Short-Term Bond $0.000000 $0.000000 $0.000000 $0.000000
Small-Cap Equity $0.041440 $0.000000 $0.000000 $0.041440
Social Choice Equity $0.148580 $0.000000 $0.000000 $0.148580
Tax-Exempt Bond $0.000000 $0.010780 $0.100260 $0.111040
Record Date: December 16, 2010
Ex/Pay/Reinvest Date: December 17, 2010
Lifecycle Retirement Income $0.134150 $0.000000 $0.000000 $0.134150
Managed Allocation $0.133460 $0.000000 $0.000000 $0.133460

* 2010 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 09, 2010 were eligible to receive distributions for these funds. Ex, Payable and Reinvestment dates for these funds was December 10, 2010. 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.

Shareholders of record at the close of business of the NYSE on December 16, 2010 were eligible to receive distributions for these funds. Ex, Payable and Reinvestment Dates for these funds will be December 17, 2010.

**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.

© 2013 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017