AEGON Asset Management Wins GBP2 Billion Asset Allocation Mandate

LONDON, September 2, 2010 - AEGON Asset Management has won another mandate for its asset allocation
service.

The latest mandate will see AEGON Asset Management apply its asset
allocation service to Leicestershire County Council's GBP2 billion pension
scheme.

The AEGON Asset Allocation Service will provide the Leicestershire County
Council pension scheme with a bespoke overlay facility, with the aim of
helping it meet its strategic objectives over the medium to longer term.

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.

Leicestershire County Council's Pension Scheme has over 70,000 members
and is recognised as being at the forefront of industry developments and
innovation.

AEGON Asset Management head of public sector pensions Paul Ritchie says:
'Our Asset Allocation Service is unique because it is entirely bespoke for
each scheme. When it comes to asset allocation and risk management one size
never fits all.'

AEGON Asset Management head of European distribution Martin Harris says:
'This is another excellent win for our Multi Asset Group. This mandate
underlines the increasing recognition among pension schemes for this type of
service.'

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.

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).

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

    Contact information

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

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