$25 MILLION TIAA-CREF AD REVIEW NARROWED TO THREE

Modernista, TBWA/Chiat/Day and Ogilvy & Mather Remain in Running

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NEW YORK (AdAge.com) -- The Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) has narrowed its $25 million creative review to three shops, a spokeswoman said.

The finalists are Modernista, Boston;

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Omnicom Group's TBWA/Chiat/Day, New York; and the incumbent, WPP Group's Ogilvy & Mather, New York. Siltanen Keehn, El Segundo, Calif., was eliminated.

The three remaining shops will make final presentations to TIAA-CREF's executive vice president of public affairs, Steve Goldstein, at the end of the month and into the first week of November. A decision is expected shortly thereafter.

TIAA-CREF is an 85-year old New York-based retirement and financial service provider to the faculty and staff of nonprofit and education research facilities across the country.