AEGON Asset Management Launches Unique Asset Allocation Service for Pension Funds

EDINBURGH, Scotland, January 21 - AEGON Asset Management is marking the start of 2010 with the official
launch of its unique Asset Allocation Service.

The service aims to provide a customised asset allocation facility to
meet the strategic objectives of a particular pension scheme.

The innovative service provides pension schemes with a bespoke overlay
which uses derivatives and other financial instruments to actively mitigate
against downside risk, while optimising upside opportunities.

The Asset Allocation Service is run by AEGON Asset Management's Multi
Asset Group which is managed by its European head of multi asset investing
Scott Jamieson.

AEGON Asset Management believes that investment strategy risk represents
the biggest threat to a pension scheme. Most schemes usually have a mix of
investments designed to meet its strategic objective based on 10 to 20-year
time horizons, during which time the asset allocation remains largely
unaltered.

As a result many schemes are vulnerable to market volatility which can
have a detrimental impact on its investment objectives and lead to it not
fulfilling its potential. AEGON Asset Management's service aims to address
these limitations whilst allowing the scheme to retain its mix of physical
investments.

Jamieson says: 'Most investors construct portfolios with a spread of
assets in the hope that it will mitigate for market turbulence in a
particular asset class. Unfortunately the recent credit crunch has clearly
demonstrated a situation where asset classes converge and the benefit of
diversification is lost. We believe that similar situations will arise in the
future. Through hedging our service explicitly seeks to protect the scheme
from these severe market conditions by providing a payback commensurate with
the extent of any market setback

Note to Editors:

AEGON Asset Management UK's assets under management total more than GBP42
billion*. The company's activities are divided into three business areas,
Institutional Business, Insured Business and Retail-Fund Business.

*Source: AEGON Asset Management as at 30 November 2009.

www.aegonam.co.uk/

Important Notice - The Asset Allocation Service (AAS)

This press release relates to the AAS provided by AEGON Asset Management
UK plc (AAM). The AAS is subject to the terms of an investment management
agreement between AAM and a pension fund selecting the AAS and subject to
such disclaimers, notices, warnings or separate agreements, including those
set out below, as AAM may communicate to you or agree with you.

THE CONTENT OF THIS PRESS RELEASE IS DESIGNED FOR THE PROFESSIONAL
PENSION FUND MARKET. IF YOU ARE NOT AN INVESTMENT PROFESSIONAL OR A PERSON
PROFESSIONALLY INVOLVED IN OR HAVING RESPONSIBILITIES RELATING TO PENSION
FUND MANAGEMENT YOU SHOULD NOT ACT UPON IT.

This press release is directed only at persons having professional
experience in matters relating to investments falling within article 19 of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
and high value entities or trusts falling within article 49 of that Order.
Consequently, AAM has not approved the content of this press release for the
purposes of section 21 of the Financial Services and Markets Act 2000. No
other person should act upon this press release or any information contained
in it. AAM has procedures in place to ensure that no instrument or investment
activity referred to in this press release is available to any other person.

The content of this press release has been prepared solely for
information purposes. Any statements, forecasts, past performance data,
estimates or projections included in the press release are for illustrative
purposes only and may be provided by AAM or third parties. Any view, opinions
or statements made in or in relation to this press release should not be
interpreted as recommendations or advice. Past performance is not a guide to
future performance. The value of investments and the income from them may
fall as well as rise and there is no guarantee that the AAS will achieve the
objectives described in this press release.

No investment advice or tax advice is being given in this press release.
Nothing in this press release should be regarded as an offer to provide
investment services or products or as a comment on the merits of engaging in
any investment transaction or activity or an inducement to do so. The content
of this press release is subject to change and correction without notice.

AAM does not represent that (i) the content of this press release; (ii)
any investments or investment services referred to in this press release; or
(iii) any oral or written statements provided by or made by AAM or persons
connected with it are suitable for or relevant to you.

AEGON Asset Management UK plc provides segregated and retail funds and is
the Authorised Corporate Director of AEGON ICVC, an Open Ended Investment
Company. AEGON Asset Management UK plc is authorised and regulated by the
Financial Services Authority, (FSA reference no: 144267).

AEGON Investment Management UK ltd provides investment management
services to AEGON, which provides pooled funds life and pension contracts.
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).

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).

    For further details contact:

    Adrian Cammidge
    t: +44-(0)207-200-2510
    m: +44-(0)7740-897-181
    e: adrian.cammidge@aegon.co.uk

For further details contact: Adrian Cammidge, t: +44-(0)207-200-2510, m: +44-(0)7740-897-181, e: adrian.cammidge at aegon.co.uk