On July 20, 2009, the College Retirement
Equities Fund (CREF) held a special meeting of
participants so that CREFs participants could
consider and vote upon certain matters, in accordance
with the terms of the Proxy Statement on Schedule 14A,
incorporated herein by reference, filed by CREF with
the Securities and Exchange Commission (SEC) on June
12, 2009, File No. 811-04415. A summary of these
matters and the results of the participants meeting
are included in CREFs December 31, 2009 annual
report, which is included in CREFs 2009 annual Form
N-CSR filing with the SEC.