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FEDERAL RETIREMENT THRIFT INVESTMENT BOARD ANNOUNCES VENDOR SELECTION FOR TWO INDEX INVESTMENT FUNDS

      Washington, D.C. (March 6, 2001) — The Federal Retirement Thrift Investment Board announced today that Barclays Global Investors, N.A., has been selected to manage both the Common Stock Index Investment (C) Fund and the Fixed Income Index Investment (F) Fund of the Thrift Savings Plan (TSP) for Federal employees.  The selection results from competitive procurements initiated by the Board in May 2000 through release of Requests for Proposals (RFPs).  The Board intends to make the formal awards shortly through two separate contracts with Barclays.

      The C Fund, which tracks the S&P 500 index, and the F Fund, which tracks the Lehman Brothers U.S. Aggregate (LBA) index, have been available to TSP participants since January 1988.  The current C and F Fund contracts, also managed by Barclays, expire April 30, 2001.

      The TSP is a retirement savings plan for Federal employees and is similar to the 401(k) plans offered by many private employers.  It was created by the Federal Employees' Retirement System Act of 1986.  As of January 31, 2001, TSP assets totaled approximately $100 billion, and retirement savings accounts were maintained for over 2.4 million participants.

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