CONTACT:
Robert
Whalen
(212) 681-4840
FOR RELEASE:
Immediately
July 31, 2009

DiNAPOLI RELEASES CRF QUARTERLY PERFORMANCE
DATA
New York State Common Retirement Fund
Grows to $116.5 Billion

The market value of the New York State Common
Retirement Fund (Fund) increased to approximately $116.5 billion after
Fund investments posted a positive 7.7 percent rate of return for the quarter
ended June 30, 2009, the first quarter in the Fund’s fiscal year, according
to New York State Comptroller Thomas P. DiNapoli.

“We’re seeing some encouraging signs in
the public markets, but we’re not out of the woods yet,” DiNapoli said.
“It is good to see positive growth in the Fund after an especially challenging
year for all investors. We are cautiously optimistic that the markets will
continue to strengthen in what appears to be an improving economy. Fortunately,
our long-term investment strategies have us better prepared than most to
take advantage of a market recovery.”

DiNapoli initiated quarterly performance
reporting by the Fund for the first time. This practice is the latest step
in DiNapoli’s ongoing efforts to increase transparency and accountability
regarding Fund management. The Fund, which exists to provide benefits to
more than one million retirees, beneficiaries, and active employees, will
close its current fiscal year March 31, 2010.

Click here
for more information about the Fund, or visit the Office of the State Comptroller
Web site at www.osc.state.ny.us

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