April 24, 2006

Sacramento, CA – The California State Teachers' Retirement System today launched a search for up to five Executive Search firms specializing in recruiting high quality investment management professionals. The final filing date for proposals is May 31 with selections expected in the fall of 2006. A copy of the request for proposals is available at www.CalSTRS.com/rfp.

Firms chosen through the competitive process will work in collaboration with CalSTRS' staff to develop comprehensive candidate profiles and timelines for nationwide searches. Contracted firms will then prescreen and guide available candidates throughout the process to ensure that highly qualified professionals emerge from the group identified for consideration.

In addition to awarding one or more contracts, CalSTRS will also use this process to establish a pool of pre-qualified firms from which CalSTRS' Human Resources will draw for services for up to five years. All firms within the pool will report to and be directly accountable to the staff of Human Resources.

With a $142 billion investment portfolio, the California State Teachers' Retirement System is the second-largest public pension fund in the United States. It provides retirement, disability and survivor benefits to California's 776,000 public school educators from kindergarten through community college.