Aegon Asset Management Launches UK Equity Absolute Return Fund

LONDON, February 26, 2010 - AEGON Asset Management is launching a UK Equity Absolute Return Fund
which aims to capitalise on the group's successful UK equity investment
process from its award winning UK equity team*.

The fund intends to provide investors with positive absolute returns
regardless of the direction of UK stocks. It will do this through investing
in long and short positions in UK listed equities, with a strong focus on
reducing volatility and preserving capital.

Managed by David Griffiths and David Pringle from AEGON Asset
Management's UK equity team, the AEGON UK Equity Absolute Return Fund will
use the team's successful stock-picking process to select assets. The fund
will consist of three portfolios, long equity, short equity and cash. The
size of the long and short portfolios will vary according to the manager's
discretion but will typically not exceed a 10% net long or short position.

Griffiths and Pringle will be supported by the 12-strong UK equity team
headed by Stephen Adams. The UK team has demonstrated its ability to provide
competitive investor returns over the last five years with the UK Equity Fund
managed by Adams returning 44% giving it a first quartile ranking.**

The AEGON UK Equity Absolute Return Fund will normally hold between 50 to
100 stock positions and will be constructed using contracts-for-difference,
which are a means of gaining long and short exposure to individual stocks.
The fund will contain the best ideas from the UK equity team's research with
more weight given to ideas that diversify risk.

It is structured to be uncorrelated with the equity market and aims to
generate out-performance of its benchmark through diverse and uncorrelated
strategies. Although it will not have an overriding theme, it is expected to
benefit from macro economic and other themes identified by the UK team
working closely with AEGON Asset Management's head of strategy and chief
investment officer.

To celebrate the launch of the fund AEGON Asset Management will be
discounting the funds initial by 2.5% to 3% until 30 April 2010.

AEGON Asset Management European head of retail sales Steve Kenny says:
'This is an exciting addition to our current UK equity fund portfolio, which
will be able to maximise the stock-picking process our UK team has been
deploying so successfully over the last few years for its various funds.

'Both David's are very experienced UK equity investment managers and
analysts, and they will be ably supported by Stephen and the wider UK team.'

The fund is a sub fund of the AEGON ICVC a UK domiciled Oeic and will
have Ucits III investment powers.

About AEGON Asset Management

AEGON Asset Management takes an active approach to managing investments,
helping retail and institutional clients to maximize available investment
opportunities and realize their financial objectives. As part of AEGON, AEGON
Asset Management has businesses in over twenty countries in Europe, the
Americas and Asia. AEGON Asset Management manages approximately EUR 200
billion on behalf of individual investors, financial institutions, pension
funds and insurance companies around the world. The AEGON Asset Management
businesses employ over 1,300 staff worldwide.

Fund Facts

AEGON UK Equity Absolute Return Fund

UK registered ICVC Oeic with UCITS III investment powers

Investment universe of FTSE All-Share and AIM

Managed by David Griffiths and David Pringle

Benchmarked against the Bank of England base rate

Minimum investment is GBP500 (A share class) or GBP250,000 (B share
class)

Initial charge 5.5% (for A share class), discounted by 2.5% until 30
April 2010

Annual management charge of 1.5% for A share class and 0.75% for B share
class

Additional performance fee will accrue daily, 20%, hurdle is the Bank of
England base rate and there is a high water mark, crystallises quarterly.

Notes to Editors

AEGON Asset Management assets under management in the UK total more than
GBP42.5 billion***.

* Source Best Overall Group Award in the Equity (Large) category Lipper
UK Funds Awards 2008, Ethical Equity and UK Opportunities funds both rated AA
by OBSR, UK Equity and UK Smaller Companies Rated A by OBSR, Citywire Sector
Winner UK All Companies 2008.

**Source Lipper on a bid to bid cumulative basis as at 29 January 2010.

***Source AEGON Asset Management as at 31 December 2009.

Discount applies only to lump sum investments, minimum GBP500.

The UK Equity and UK Equity Absolute Return Funds are Sub-Funds of the
AEGON ICVC (an Open Ended Investment Company). AEGON Asset Management UK plc
is the Authorised Corporate Director of the company (ACD).

AEGON Asset Management includes AEGON Asset Management UK plc (no:
113505) and AEGON Investment Management UK ltd (no: 212159). Both are
registered in Scotland and have their registered office at AEGON House, 3
Lochside Avenue, Edinburgh Park, Edinburgh, EH12 9SA. AEGON Asset Management
UK plc is authorised and regulated by the Financial Services Authority, (FSA
reference no: 144267). AEGON Investment Management UK ltd is an appointed
representative of Scottish Equitable plc, an AEGON company, whose registered
office is 1 Lochside Crescent, Edinburgh Park, Edinburgh, EH12 9SE (FSA
reference no: 165548).

    Contact information
    Media relations: Adrian Cammidge
    +44(0)207-200-2510
    adrian.cammidge@aegon.co.uk

    This press release is also available on www.aegonam.co.uk.

Contact information: Media relations: Adrian Cammidge, +44(0)207-200-2510, adrian.cammidge at aegon.co.uk