TIAA-CREF CEO Herb Allison to Discuss Competitive Pressures Facing American Business and Higher Education at Yale Leaders Forum, March 23 at 11:45 a.m

New Haven, Conn., March 21, 2006—Herb Allison, President and CEO of TIAA-CREF, will speak about the competitive pressures facing America at 11:45 a.m. on Thursday, March 23, in the General Motors Room of Horchow Hall, 55 Hillhouse Avenue.
In his talk, Mr. Allison will discuss the challenges both business and higher education must confront in order for our nation to maintain economic strength, an incomparable workforce and innovative leadership, and will offer some thoughts on addressing those challenges. The event, part of the Yale Leaders Forum lecture series, is free and open to the public.
Mr. Allison, Yale College '65, became Chairman, President, and CEO of TIAA-CREF in November of 2002 after a 28-year career span at Merrill Lynch & Co., Inc., where he last served as President and Chief Operating Officer until 1999.

He began his professional career with Merrill Lynch in 1971 as an associate in investment banking in New York and also held posts in Paris, London, and Tehran. He became President and COO and a member of the Board in 1997. During his tenure with Merrill Lynch, Mr. Allison ran both the Investment Banking and the Corporate and Institutional Groups. He also served, at various times, as Head of Human Resources and as Chief Financial Officer.

After leaving Merrill Lynch in mid-1999, he served as National Finance Chairman for U.S. Senator John McCain's Presidential Campaign.

At Yale, Allison serves on Yale SOM's Board of Advisors, is a member of the Campaign Executive Committee and the University Council Committee on Workplace Diversity. He is the Vice Chair of the Business-Higher Education Forum, and is on the board of directors of The Conference Board. He also is a member of both the Business Roundtable and the Financial Services Roundtable.

TIAA-CREF is a national financial services organization and the leading provider of retirement services in the academic, research, medical and cultural fields with over $370 billion in combined assets under management (12/31/05). Earlier this month, TIAA-CREF created a new Asset Management unit that combines its investment management capabilities with sales, product development and support services. Company officials and industry analysts have noted that the move will increase efficiency, create new products for a broader audience of investors, and make the firm more competitive.

Further information can be found at www.tiaa-cref.org.