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Michigan Celebrates College Savings Month

September 21, 2004 - Beneath what may be the world's largest graduation tassel, First Gentleman Daniel G. Mulhern and State Treasurer Jay B. Rising marked College Savings Month today, by paying tribute to the thousands of Michigan families who are saving for the future, through investments in the Michigan Education Trust (MET) and the Michigan Education Savings Program (MESP). "The future demands that our children be well educated in order to compete in a knowledge-driven economy," said Mr. Mulhern. "These savings programs make college more affordable for Michigan families and will help the state double the number of people who obtain a college degree in the next ten years."

During the College Savings Month celebration, MESP's Piggybank-Mobile was formally named Prudence, following a statewide contest. The winning entry was submitted by 6-year-old Shelby Howell, a kindergartener at Douglas Elementary School in Garden City.

For more information on MESP call 877 861-MESP or visit www.misaves.com.

For more information on MET call 1-800-MET-4-KID (800-638-4543) or visit www.SETWITHMET.com. Investment management, program administration and distribution for MET is provided solely by the Michigan Department of Treasury.

If you are not a Michigan resident or if you have taxable income in another state, consider whether that other state offers a 529 plan with favorable state income tax or other benefits not available if you invest in MESP. The MESP Disclosure Booklet and Participation Agreements (PDF, 476KB) should be read carefully before opening an account. The State of Michigan, its agencies, TIAA-CREF Tuition Financing, Inc. (TFI), Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general financial market conditions. Investments are made through Teachers Personal Investors Services, Inc., as distributor. The law allowing federal tax-free qualified withdrawals is set to expire on December 31, 2010.

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	Michigan Education Trust

The tax information contained on the Michigan Education Savings Program (MESP) Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Consider the investment objectives, risks, charges and expenses before investing in the Michigan Education Savings Program. Please call toll-free 1(877) 861-6377 for a Disclosure Booklet containing this information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

TIAA-CREF Individual & Institutional Services, LLC, distributes MESP. The State of Michigan, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return except for TIAA-CREF Life Insurance Company's guarantee to MESP under the funding agreement for the Principal Plus Interest Option. Account value will fluctuate based upon a number of factors, including general market conditions.

Investment management, program administration and distribution of The Michigan Education Trust (MET) program is provided solely by the Michigan Department of Treasury. MET is not managed by TIAA-CREF Tuition Financing, Inc. nor is it distributed by TIAA-CREF Individual & Institutional Services, LLC.

The MESP Web site contains links to other Web sites. Neither MESP nor TIAA-CREF Tuition Financing, Inc. and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.