September 21, 2007

SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced a search for a real estate consultant to provide expertise and advice to the CalSTRS Investment Committee related to the overall investment strategy, policies and practices of the CalSTRS Real Estate Program.

The final filing date for proposals is October 17, 2007, with the selection expected in January 2008. A copy of the request for proposal is available at www.CalSTRS.com/rfp.

The real estate consultant will work for the Investment Committee and with the CalSTRS investment staff to monitor and comment on the real estate portfolio performance and policy. The real estate consultant will be restricted from performing review as an independent fiduciary in the analysis of any real estate investment.

The CalSTRS investment portfolio, at $169 billion including a real estate portfolio of $16.4 billion as of July 31, 2007, is the second largest public pension fund in the nation. The real estate consultant will be expected to be familiar with all aspects of the real estate asset class, including domestic and international investments, public and private investments and real estate backed mortgage investments. The CalSTRS real estate portfolio ended the fiscal year, June 30, 2007, with a 32.9 percent return.

The California State Teachers' Retirement System administers retirement, disability and survivor benefits for California's 795,000 public school educators and their families from the state's 1,400 school districts, county offices of education and community college districts.