Aegon and Banco Santander Complete Exclusive
25-Year Partnership in Spain

<pre>

    - Consolidates Aegon's strong position in Spain
    - Supports Aegon's broader strategy to become a leader in its chosen markets
</pre>    Aegon has completed an exclusive 25-year strategic partnership with Banco Santander,
Spain's largest financial group, first announced last December.

    Under the terms of the agreement, Aegon has acquired a 51% stake in both a life
insurance company as well as in a non-life insurance company for a consideration of EUR
220 million. The joint ventures will distribute life and general insurance products
through Banco Santander's extensive branch network. Aegon Spain will provide the
back-office services to the joint venture companies.

    The long-term partnership enables Aegon to consolidate its strong market position in
Spain and supports Aegon's ambition to become a leader in its chosen markets. The
Santander franchise of 4,000 bank branches provides Aegon with access to twelve million
customers throughout the country, and includes the integrated networks of Banesto, Banif
and Openbank.

    Aegon has been active in Spain for over thirty years and maintains a long-term
commitment to the country. It has established a reputation as a preferred provider of
protection products and services through its network of bancassurance joint ventures.

    DISCLAIMER

    Forward-looking statements

    The statements contained in this document that are not historical facts are
forward-looking statements as defined in the US Private Securities Litigation Reform Act
of 1995. The following are words that identify such forward-looking statements: aim,
believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on,
plan, continue, want, forecast, goal, should, would, is confident, will, and similar
expressions as they relate to Aegon. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are difficult to
predict. Aegon undertakes no obligation to publicly update or revise any forward-looking
statements. Readers are cautioned not to place undue reliance on these forward-looking
statements, which merely reflect company expectations at the time of writing. Actual
results may differ materially from expectations conveyed in forward-looking statements due
to changes caused by various risks and uncertainties. Such risks and uncertainties include
but are not limited to the following:

<pre>
    - Changes in general economic conditions, particularly in the United States,
      the Netherlands and the United Kingdom;
    - Changes in the performance of financial markets, including emerging markets,
      such as with regard to:
    - The frequency and severity of defaults by issuers in Aegon's fixed income
      investment portfolios;
    - The effects of corporate bankruptcies and/or accounting restatements on the
      financial markets and the resulting decline in the value of equity and debt securities
      Aegon holds; and
    - The effects of declining creditworthiness of certain private sector securities
      and the resulting decline in the value of sovereign exposure that Aegon holds;
    - Changes in the performance of Aegon's investment portfolio and decline in
      ratings of Aegon's counterparties;
    - Consequences of a potential (partial) break-up of the euro;
    - The frequency and severity of insured loss events;
    - Changes affecting mortality, morbidity, persistence and other factors that may
      impact the profitability of Aegon's insurance products;
    - Reinsurers to whom Aegon has ceded significant underwriting risks may fail to
      meet their obligations;
    - Changes affecting interest rate levels and continuing low or rapidly changing
      interest rate levels;
    - Changes affecting currency exchange rates, in particular the EUR/USD and
      EUR/GBP exchange rates;
    - Changes in the availability of, and costs associated with, liquidity sources
      such as bank and capital markets funding, as well as conditions in the credit markets
      in general such as changes in borrower and counterparty creditworthiness;
    - Increasing levels of competition in the United States, the Netherlands, the
      United Kingdom and emerging markets;
    - Changes in laws and regulations, particularly those affecting Aegon's
      operations, ability to hire and retain key personnel, the products Aegon sells, and
      the attractiveness of certain products to its consumers;
    - Regulatory changes relating to the insurance industry in the jurisdictions in
      which Aegon operates;
    - Changes in customer behavior and public opinion in general related to, among
      other things, the type of products also Aegon sells, including legal, regulatory or
      commercial necessity to meet changing customer expectations;
    - Acts of God, acts of terrorism, acts of war and pandemics;
    - Changes in the policies of central banks and/or governments;
    - Lowering of one or more of Aegon's debt ratings issued by recognized rating
      organizations and the adverse impact such action may have on Aegon's ability to raise
      capital and on its liquidity and financial condition;
    - Lowering of one or more of insurer financial strength ratings of Aegon's
      insurance subsidiaries and the adverse impact such action may have on the premium
      writings, policy retention, profitability and liquidity of its insurance subsidiaries;
    - The effect of the European Union's Solvency II requirements and other
      regulations in other jurisdictions affecting the capital Aegon is required to
      maintain;
    - Litigation or regulatory action that could require Aegon to pay significant
      damages or change the way Aegon does business;
    - As Aegon's operations support complex transactions and are highly dependent on
      the proper functioning of information technology, a computer system failure or
      security breach may disrupt Aegon's business, damage its reputation and adversely
      affect its results of operations, financial condition and cash flows;
    - Customer responsiveness to both new products and distribution channels;
    - Competitive, legal, regulatory, or tax changes that affect profitability, the
      distribution cost of or demand for Aegon's products;
    - Changes in accounting regulations and policies may affect Aegon's reported
      results and shareholders' equity;
    - The impact of acquisitions and divestitures, restructurings, product
      withdrawals and other unusual items, including Aegon's ability to integrate
      acquisitions and to obtain the anticipated results and synergies from acquisitions;
    - Catastrophic events, either manmade or by nature, could result in material
      losses and significantly interrupt Aegon's business; and
    - Aegon's failure to achieve anticipated levels of earnings or operational
      efficiencies as well as other cost saving initiatives.
</pre>    Further details of potential risks and uncertainties affecting Aegon are described in
its filings with the Netherlands Authority for the Financial Markets and the US Securities
and Exchange Commission, including the Annual Report. These forward-looking statements
speak only as of the date of this document. Except as required by any applicable law or
regulation, Aegon expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statements contained herein to reflect any
change in Aegon's expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.

    ABOUT AEGON
As an international life insurance, pensions and asset management company based in The
Hague, Aegon has businesses in over twenty markets in the Americas, Europe and Asia. Aegon
companies employ approximately 24,000 people and have millions of customers across the
globe. Further information: aegon.com
[http://www.aegon.com/Documents/aegon-com/Governance/Governance-documents/EB-and-MB/Employment-agreement-Nooitgedagt.pdf ]
.

<pre>
    Media relations
    Greg Tucker
    +31(0)70-344-8956
    [email protected]

    Investor relations
    Willem van den Berg
    +31(0)70-344-8305
    [email protected]
</pre>    PRN NLD



The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED