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Missouri MO$T to switch from TIAA-CREF to Upromise

(January 5, 2006) - Upromise Inc. has won the bid to manage Missouri's MO$T 529 college savings program, and will take over for TIAA-CREF on May 10, 2006. The number of investment options will expand from 3 to 18 to include 3 age-based options and 15 static portfolios. Underlying investments will include Vanguard index funds and American Century actively-managed mutual funds. Most of the Vanguard portfolios will be offered at 62 basis points, compared to the current 65 basis points with TIAA-CREF. One of the Vanguard portfolios will be priced at 65 basis points, with the American Century portfolios priced at higher levels. The program will offer a link between investor accounts and the free Upromise Rewards service, and will also offer a credit card with a new company called Simply Brilliant. Existing accounts in MO$T will be automatically transferred into similar investments under the newly-configured program.

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