AEGON Sells Dutch Funeral Insurance Business

THE HAGUE, The Netherlands, February 2 - AEGON announces the sale of its funeral insurance business in the
Netherlands to Dutch investment firm Egeria for an amount of EUR 212 million.
The sale is the result of AEGON's ongoing portfolio review of its businesses,
as announced in June 2008. The sale of its subsidiary AEGON NabestaandenZorg
will have a positive effect on AEGON's excess capital position.

The purpose of the sale is in line with AEGON's strategy to ensure
greater focus to its portfolio of products in the Netherlands. "We continue
to look at our businesses to ensure that they are a good fit with our
strategy," said Marco Keim, the member of AEGON's Management Board
responsible for the Netherlands. "Our objective is to have an effective range
of products so that we can meet our customers' needs in the best way
possible. Above all, we want to focus on what our customers want in the key
areas life and non-life insurance, pensions, savings and investments.
Furthermore, we are pleased that the employees of AEGON NabestaandenZorg will
be in good hands."

Under the agreement, the nineteen employees affected by the sale will
retain their jobs, as well as maintain similar employment conditions. The
company will continue its operations under the name 'AXENT'. AEGON's sale of
its funeral insurance business will not in any way affect the company's
current policyholders.

"Given AEGON NabestaandenZorg's excellent team, we have every confidence
that we can build on the solid foundation they have established," said Hans
Croes, General Manager of AXENT. "We are convinced of the opportunities to
further develop AXENT as a leading market player. AXENT is an independent,
decisive and flexible organization, and we will continue to create value for
our policyholders, employees and intermediaries. Simplicity and transparency
remain our focus and preoccupation."

In 2009, AEGON's funeral insurance business generated approximately EUR
70 million*) in gross written premiums.

The sale agreement is subject to the consultation of AEGON's Central
Works Council, in addition to the approvals of the relevant regulatory
authorities.

*) Unaudited

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 29,000 people
and have over 40 million customers across the globe.

    Key figures - EUR                      Q3 2009        Full year 2008

    Underlying earnings before tax     351 million           1.6 billion
    New life sales                     484 million           2.6 billion
    Gross deposits                     6.8 billion          40.8 billion
    Revenue generating investments
    (end of period)                    354 billion           332 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;

    - Effects of deliberations of the European Commission regarding the aid
      we received from the Dutch State in December 2008;

    - 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;

    - 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 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
    AEGON N.V.
    Dick Schiethart
    +31(0)70-344-8821
    gcc-ir@aegon.com

    AEGON The Netherlands
    Debora de Laaf
    +31(0)70-344-8730
    ddelaaf@aegon.nl

    Investor relations
    Gerbrand Nijman
    +31(0)70-344-8305
    +1877-548-9668 - toll free USA only
    ir@aegon.com

    www.aegon.com

PRN NLD

Media relations: AEGON N.V., Dick Schiethart, +31(0)70-344-8821, gcc-ir at aegon.com; AEGON The Netherlands, Debora de Laaf, +31(0)70-344-8730, ddelaaf at aegon.nl; Investor relations, Gerbrand Nijman, +31(0)70-344-8305, +1877-548-9668 - toll free USA only, ir at aegon.com