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SUPPLEMENT dated June 5, 2000 to the Annual Report for the TIAA-CREF Mutual Funds, dated December 31, 1999 There was an error in the ratio of net investment income to average net assets reported for the Managed Allocation Fund for the year ended December 31, 1999 in the Financial Highlights on page 79 of the Annual Report. The correct ratio is 2.70%.
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