AEGON Repays EUR 500 Million of Government Support

THE HAGUE, The Netherlands, August 31, 2010 - AEGON yesterday fulfilled its commitment to repay to the Dutch State EUR
500 million of the EUR 3 billion in core capital the company secured through
its largest shareholder, Vereniging AEGON in 2008. AEGON announced its
intention to repay EUR 500 million on August 17, 2010 when it concluded the
approval process with the European Commission.

With this payment of EUR 500 million, the amount repaid to the Dutch
government totals EUR 1.5 billion. The first EUR 1 billion was repaid on
November 30, 2009.

The payment to the Dutch government yesterday amounts to EUR 563 million,
of which

    - EUR 500 million for repurchase of 125 million convertible core capital
      securities,
    - EUR 52 million or 10.3% premium, and
    - EUR 11 million of accrued interest from May 25, 2010.

This repayment has been made from excess capital which has been
upstreamed from AEGON's operating companies during the third quarter. The
Dutch Central Bank has approved this repayment.

About AEGON

As an international life insurance, pension and investment company based
in The Hague, AEGON has businesses in over twenty markets in the Americas,
Europe and Asia. AEGON companies employ approximately 28,000 people
and have some 40 million customers across the globe.

                            Second quarter    Full year
    Key figures - EUR                 2010         2009
    Underlying earnings
    before tax                 522 million  1.2 billion
    New life sales             590 million  2.1 billion
    Gross deposits (excl.
    run-off)                   7.6 billion   28 billion
    Revenue generating
    investments
    (end of period)            409 billion  363 billion

Forward-looking statements

The statements contained in this press release 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 our company. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are
difficult to predict. We undertake 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:

    - 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 our fixed income
        investment portfolios; and

      - 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 we hold;

    - The frequency and severity of insured loss events;

    - Changes affecting mortality, morbidity and other factors that may
      impact the profitability of our insurance products;

    - 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;

    - Increasing levels of competition in the United States, the Netherlands,
      the United Kingdom and emerging markets;

    - Changes in laws and regulations, particularly those affecting our
      operations, the products we sell, and the attractiveness of certain
      products to our consumers;

    - Regulatory changes relating to the insurance industry in the
      jurisdictions in which we operate;

    - 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 our debt ratings issued by recognized rating
      organizations and the adverse impact such action may have on our
      ability to raise capital and on our liquidity and financial condition;

    - Lowering of one or more of insurer financial strength ratings of our
      insurance subsidiaries and the adverse impact such action may have on
      the premium writings, policy retention, profitability of its insurance
      subsidiaries and liquidity;

    - The effect of the European Union's Solvency II requirements and other
      regulations in other jurisdictions affecting the capital we are
      required to maintain;

    - Litigation or regulatory action that could require us to pay
      significant damages or change the way we do business;

    - Customer responsiveness to both new products and distribution channels;

    - Competitive, legal, regulatory, or tax changes that affect the
      distribution cost of or demand for our products;

    - The impact of acquisitions and divestitures, restructurings, product
      withdrawals and other unusual items, including our ability to integrate
      acquisitions and to obtain the anticipated results and synergies from
      acquisitions;

    - Our failure to achieve anticipated levels of earnings or operational
      efficiencies as well as other cost saving initiatives; and

    - The impact our adoption of the International Financial Reporting
      Standards may have on our reported financial results and financial
      condition.

Further details of potential risks and uncertainties affecting the
company are described in the company's filings with Euro next Amsterdam and
the US Securities and Exchange Commission, including the Annual Report on
Form 20-F. These forward-looking statements speak only as of the date of this
document. Except as required by any applicable law or regulation, the company
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 the company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.

    Contact information

    Media relations: Greg Tucker
    +31(0)70-344-8956
    gcc-ir@aegon.com

    Investor relations: Gerbrand Nijman
    +31(0)70-344-8305
    +877-548-9668 - toll free USA only
    ir@aegon.com

    www.aegon.com

Contact information: Media relations: Greg Tucker, +31(0)70-344-8956, gcc-ir at aegon.com; Investor relations: Gerbrand Nijman, +31(0)70-344-8305, +877-548-9668 - toll free USA only, ir at aegon.com