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Does TIAA-CREF hold shares of companies that have ties to the government of Sudan?

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Does TIAA-CREF hold shares of companies that have ties to the government of Sudan?

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Yes. TIAA-CREF owns shares in multinational companies that have appeared on lists of firms doing business in Sudan. Taken together these holdings comprise less than one percent of the combined $398 billion in assets TIAA-CREF manages (as of 9/30/08). As part of our goal of providing lifetime income for the individuals who entrust their savings to us, our asset managers seek to hold shares of companies that can offer the potential for long-term value at acceptable risk. I am concerned that my savings are in companies that are complicit in the humanitarian tragedy in Darfur. What is TIAA-CREF doing about the problem? Over the past two years, TIAA-CREF has continued a campaign of engagement to encourage 22 companies in our portfolios who have ties to the Sudanese government to sever those ties or take humanitarian steps. To date, nine of these companies have committed to end their operations in Sudan or committed to humanitarian initiatives in the region and, thus, no longer appear on our

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