-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000930413-98-000628.txt : 19980604
<SEC-HEADER>0000930413-98-000628.hdr.sgml : 19980604
ACCESSION NUMBER:		0000930413-98-000628
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19980603
SROS:			NONE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COLLEGE RETIREMENT EQUITIES FUND
		CENTRAL INDEX KEY:			0000777535
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				136022042
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		
		SEC FILE NUMBER:	033-00480
		FILM NUMBER:		98641652

	BUSINESS ADDRESS:	
		STREET 1:		730 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2129164905

	MAIL ADDRESS:	
		STREET 1:		730 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<DESCRIPTION>497
<TEXT>


[LOGO]         |COLLEGE RETIREMENT
               |EQUITIES FUND
               |730 Third Avenue
               |New York, NY 10017-3206


                                   SUPPLEMENT
                                DATED JUNE 1998
                      TO THE PROSPECTUS DATED MAY 1, 1998
                    FOR THE COLLEGE RETIREMENT EQUITIES FUND


There  was an error in the  table on the top of Page 27 of the  Prospectus.  The
correct   percentage  of  the  Global  Equities   Account  invested  in  foreign
investments as of December 31, 1997 was 46.15%.


<PAGE>


[LOGO]         |COLLEGE RETIREMENT
               |EQUITIES FUND
               |730 Third Avenue
               |New York, NY 10017-3206


                                   SUPPLEMENT
                                DATED JUNE 1998
                   TO THE STATEMENT OF ADDITIONAL INFORMATION
                                DATED MAY 1, 1998
                    FOR THE COLLEGE RETIREMENT EQUITIES FUND


There was an error in the table on the top of Page  B-44  of the  Statement  of
Additional  Information.  The correct  cumulative  change in basic  annuity unit
value for the Social  Choice  Account  for the five years  ended May 1, 1998 was
68.07%.

Also on Page B-44, the correct cumulative change in the basic annuity unit value
for the Inflation-Linked Bond Account since May 1, 1997 was -2.32%.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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