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Press Release

FOR IMMEDIATE RELEASE | March 8, 1999
CONTACT: Christine Underhill, (703) 707-8830 ext. 15

VARIABLE ANNUITY INDUSTRY LAUNCHES PUBLIC EDUCATION CAMPAIGN

(Reston, VA)- NAVA unveiled the industry logo and tag line, "Variable Annuities-Retire on Your Terms" at its marketing conference on February 22, 1999, in Tucson, AZ. The logo and tag line are the centerpiece of an industry-wide, national public education campaign, which will create a brand for variable annuities in the competitive financial services market. Member companies, such as Hartford, MetLife and Prudential, spoke of the need to educate the public about the ability of variable annuities to provide financial security and supported industry-wide use of the logo and tag line.

"As millions of baby boomers approach retirement, they are concerned about having enough income in retirement to live the kind of life they want. Variable annuities offer the security they seek as well as control, flexibility and the opportunity to have an income they can't outlive," said Mark J. Mackey, president and CEO of NAVA. "The industry's challenge is that many people who could benefit from variable annuities do not fully understand them."

The goal of the "Variable Annuities-Retire on Your Terms" campaign is to project a unified message to the public about the ability of variable annuities to provide income for life in retirement, thereby serving as an important piece of the solution to the retirement savings crisis faced by many Americans.

The industry-wide public education campaign will give industry members a framework for their marketing and communications programs about variable annuities.

In addition to the logo and tag line, the campaign includes key messages (that are in a new "Retire on Your Terms" brochure for consumers) and standardized, consumer-friendly terms that describe the features and benefits of variable annuities. NAVA members also received a "ToolKit" at the conference, which explains how to integrate the campaign in their own marketing efforts. The components of the campaign were designed based on input from industry leaders as well as focus group testing of investors and brokers across the country.

Established in 1991, NAVA is a not-for-profit organization dedicated to increasing public knowledge and acceptance of annuity and variable insurance products. NAVA's mission is to promote the growth, acceptance and understanding of annuity and variable life products to retirement-focused Americans; to provide educational and informational resources to its members and the public; to protect consumers by encouraging adherence to the highest ethical standards by insurers, distributors and all other participants in the diverse industry; and to protect and advance the interests of its members.