AEGON Repurchased EUR 750 Million of Core Capital Securities]

THE HAGUE, The Netherlands, March 16, 2011 - AEGON yesterday repurchased EUR 750 million convertible core capital
securities from the Dutch State. AEGON announced its intention to repurchase
this EUR 750 million of core capital on February 24, 2011.

The payment to the Dutch government yesterday amounts to EUR 1.125
billion:

- EUR 750 million for repurchase of 187.5 million convertible core
capital securities and

- EUR 375 million premium

Including this latest repurchase, AEGON has repurchased EUR 2.25 billion
core capital from the Dutch State.

About AEGON

As an international life insurance, pension and asset management company
based in The Hague, AEGON has businesses in over twenty markets in the
Americas, Europe and Asia. AEGON companies employ approximately 27,500 people
and have some 40 million customers across the globe.

    Key figures - EUR    Full year     Full year  Third quarter  Full Year
                           2010           2009         2010        2009
    Underlying earnings
    before tax          2.0 billion   1.2 billion  473 million  1.2 billion

    New life sales      2.2 billion   2.1 billion  527 million  2.1 billion
    Gross deposits
    (excl. run-off)      33 billion    28 billion  9.4 billion   28 billion
    Revenue generating
    investments (end of
    period)             413 billion   363 billion  405 billion  363 billion

Forward-looking statements

The statements contained in this document 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 AEGON. 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, persistence 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 Americas, the Netherlands, the
United Kingdom and new 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;

- Our inability to obtain consent from the Dutch Central Bank to
repurchase our Core Capital Securities; and

- Our inability to divest Transamerica Reinsurance on terms acceptable to
us or the failure of any of the conditions for completion of such divestment
agreement.

Further details of potential risks and uncertainties affecting the
company are described in the company's filings with Euronext 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