TIAA-CREF MUTUAL FUND SHAREHOLDERS APPROVE MERGER
NEW YORK (April 3, 2007) -- TIAA-CREF, the financial services organization and
leading provider of financial services in the academic, medical, and cultural fields
today announced that at a special meeting shareholders of the following TIAA-CREF
Mutual Funds (the “Retail Funds”) approved the merger of their Funds into
corresponding Funds of another TIAA-CREF Fund family, the TIAA-CREF
Institutional Mutual Funds (the “TIAA-CREF Funds”), with substantially similar
investment objectives and principal investment strategies. More than 80% of the
shareholders who voted approved the merger proposal.
This Retail Fund
will merge into This TIAA-CREF Fund
International Equity Fund
(TIINX)
→
Institutional International Equity Fund
(TIERX)
Growth Equity Fund (TIGEX)
→
Institutional Large-Cap Growth Fund
(TIRTX)
Growth & Income Fund
(TIGIX)
→
Institutional Growth & Income Fund
(TIIRX)
Equity Index Fund (TCEIX)
→
Institutional Equity Index Fund
(TINRX)
Social Choice Equity Fund
(TCSCX)
→
Institutional Social Choice Equity Fund
(TICRX)
Managed Allocation Fund
(TIMAX)
→
Institutional Managed Allocation Fund
II (TIMRX)
Bond Plus Fund (TIPBX)
→
Institutional Bond Plus Fund II
(TCBPX)
Short-Term Bond Fund
(TCSTX)
→
Institutional Short-Term Bond Fund II
(TCTRX)
High-Yield Bond Fund
(TCHYX)
→
Institutional High-Yield Fund II
(TIYRX)
Tax-Exempt Bond Fund
(TCTEX)
→
Institutional Tax-Exempt Bond Fund II
(TIXRX)
Money Market Fund (TIAXX)
→
Institutional Money Market Fund
(TIRXX)
The purpose of merging the Funds is to create a single, streamlined TIAA-CREF Fund
family designed to help meet shareholders’ investment needs while keeping overall Fund
expenses competitive with those of other low-cost providers. The effective date of the
merger is expected to be April 20, 2007. After 4:00 p.m. Eastern Time on that date, any
shareholder transactions initiated in a former Retail Fund(s) will occur in the corresponding
TIAA-