AEGON Asset Management Wins Asset Allocation Mandate

LONDON, August 19, 2010 - AEGON Asset Management has won a GBP300 million pension scheme mandate
from leading manufacturing company Molins PLC.

The mandate will see AEGON Asset Management play a significant role for
the Molins UK Pension Fund, in enhancing the strategic asset allocation and
funding plan developed by the Trustees and their advisers. This will be done
by implementation of its asset allocation service (AAS) which will overlay
the Molins Fund's long term strategy.

The AEGON Asset Allocation Service provides pension schemes with an
innovative bespoke overlay which uses derivatives.

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

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.

Molins PLC is a leading international manufacturing company, which
employs over 700 people globally. Listed on the London Stock Exchange the
company provides high performance machinery and services for the production
and packaging of consumer products.

AEGON Asset Management head of European distribution Martin Harris says:
'This is an excellent win for our Multi Asset Group, and underlines the
growing recognition we are receiving for this innovative service.'

Molins' Pension Manager Sally Soper says: 'We look forward to working
with the AEGON Asset Management team. We are confident that this bespoke and
flexible service will help us to improve returns for our members and to
provide an enhanced degree of protection in ever more volatile asset
markets.'

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).

The Inflation Linked Fund will be a Sub-Fund 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).

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.

    Contact information
    Media relations: Adrian Cammidge
    +44(0)207200-2510
    adrian.cammidge@aegon.co.uk
    This press release is also available on www.aegonam.co.uk.

Contact information: Media relations: Adrian Cammidge, +44(0)207200-2510, adrian.cammidge at aegon.co.uk