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January 31, 2008

DiNapoli Names Chief Investment Officer

Comptroller Thomas P. DiNapoli announced today that he named Raudline Etienne as Chief Investment Officer for the $154 billion New York State Common Retirement Fund. In her previous employment, Etienne was Managing Director at Rogerscasey in Darien, Connecticut, responsible for investment consulting for a series of both large and small public retirement systems. During her 11 ½-year tenure with Rogerscasey, she developed broad experience in a wide variety of asset classes and investment strategies.

“Raudline Etienne brings the right character and experience to lead our team of investment professionals,” DiNapoli said. “She will work with me to ensure the Fund maintains its strong long–term track record and operates with a priority on ethics and transparency.”

A graduate of M.I.T., Etienne earned her MBA at the University of California at Berkeley and was a recipient of the Robert Toigo Foundation Fellowship. She currently is a board member at the Robert Toigo Foundation. After an internship at the RREEF Funds, Etienne was a consultant with Washington, Hackett, Poitevien & Company prior to joining Rogerscasey.

Etienne starts her new position on March 3.

DiNapoli also announced the appointments of Nick Smirensky as Deputy Chief Investment Officer; Dorothy Carey as the Chief Administrative Officer; and Sheila Stamps as Director of Fixed Income Investments and Cash Management for the Fund. Prior to this appointment, Smirensky was director of Private Equity for the Fund, where he oversaw a $10 billion portfolio, including the Fund’s in-state investment program. He was previously director of New York’s College Savings Program. Carey was a senior investment officer for the Fund. Before joining the Fund in 2004, she was senior vice president, international, at the New York Stock Exchange. Stamps, who holds an MBA from the University of Chicago, was a fellow at the Weatherhead Center for International Affairs at Harvard University and was employed as managing director / head of relationship management, financial institutions at FleetBoston Financial.



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