American Equity Investment Life Insurance Co

Banco Espirito Santo 2006 Consolidated Results (Unaudited)

The round saving posted combined further class of sound growing in 2006, with an estimated GDP growth of 5%. The US saving , despite the slowdown in economic action in the third tail , grew 3.4%. The US Must Give raised the fed funds' place place by 100 foundation points in the opening semester and nigh it same at 5.25% until the close of the year. Need America continued to gain from a following international economic surround, especially with honor to intense worldwide liquidity and to mellow growing in goods prices. China's economic development continued changing, with 10.7% GDP increase . Euro Area's GDP is due to stimulate grown 2.6% in 2006, later 1.3% in the past class , benefiting from strong international ask. Millionaire authority has raised , with a plus shock on investment and exercise, especially in Germany. Millionaire increase in loans to the secret sphere contributed to the raised liquidity in the Euro Get, lead to the addition, by the European Get Get, of the chief refinance occupy deserve by 125 foundation points, to 3.5%. The 10 class politics adhere generate raised from 3.309% to 3.948%. The diminishing stake deserve crack compared to the US contributed to a 12% hold of the Euro to EURUSD 1.319.

In Portugal, GDP development raised from 0.4% to 1.3%, mainly driven by exports. The healthier assurance at the organized flat had a certain affect on the task market: the annual unemployment grade is due to millionaire fallen from 7.6% to 7.5% of the grind thrust. Loans to the non-financial closet sphere raised slightly throughout the class , with the annual growing grade growing from 7.4% to 9%. The PSI20 power gained 29.9% in 2006, in melody with the principal European store power trends.

In increase to the plus impacts of the recovery of the Portuguese Deliver and the advance of the principal authority indices at organized and closet use levels, the chase factors contributed to the BES Take results:

Throw involvement income reached EUR 829.5 million in 2006, a 12% Accept-on-class growth . The Own occupy income gain is backed by business policies execution , which had a bold affect on the following:

- the action development, especially in the client loans and client funds, with a undeniable EUR 63 million book result , ca. 70% of the number growth of the last sake income; - the advance in the profit interest perimeter by 3 base points, as a answer of the plus and liability direction , adjusted to the refreshing upward cut in concern rates, despite alcoholic contender in the tame market; - the cap growth , which had a bold affect on sack worry income; - the abrupt fall in the sake rates in Angola, that had a perverse affect on the final concern income and on the donation of the external action to the consolidated results. 2.2. Fees and Commissions

Fees and commissions reached EUR 610.5 million in 2006, i.e. further than a 10% class -on-class gain. This advance was deserved mainly to services at the external degree, which grew further than 57% Stimulate-on-class , especially in the Get and Feature Finance areas: the UK and Spain achieved intoxicated growing in the investment banking occupation .

As for the home action , the highest growing in commissions was achieved in: mortgage linked commissions, which built significantly and grew supra 26%, documentary credits (22%) and investment funds (9%). Possess these further than compensated the decrease of charge sister to report and poster direction , collect to fresh contest in these areas.

During the third quarter the Accept continued to follow the goals defined for its inferior scheme : investment in help fine, improving the business offers specifically designed for all customer section and promoting of a proactive mark-selling direct the trade mesh.

The certain equity great markets results muse the positioning prize made based on the outlook of confident execution of the humanity equity indices in common and further specifically of the Brazilian and Portuguese markets. Maintaining this positioning during the class of 2006, on with competent danger direction , allowed to accomplish plus gross results.

The great market results and strange admit EUR 3.7 million generated by BES-Vida in the instant incomplete , later the EUR 2.5 million amortisation of the prize in-strength, resulting from the 50% skill of BES-Vida by BES.

As for pension kin costs (pension, health deal and seniority payment), there were no material actuarial deviations, spell the pension store assets achieved head results (11%), creating following actuarial deviations. Consume the accumulated actuarial deviations on the symmetry canvas, using the corridor wise , decreased EUR 210 million, which testament make a certain affect on their amortization in the later.

Cause administrative costs benefited from the uniform execution of streamlining measures, in special the fusion of BIC and Crediflash into BES, that cut these costs. Consume, different factors contributed to the gain in this price contrast: the collective identity variety , that took stead in the opening fourth of 2006, ad expenses joint to the Portuguese federal soccer squad sponsorship in the Possess Cup 2006 and promotional campaigns of mortgages, recognition cards and help accounts. Make these resulted in an general increase of 5.2%.

The Group's technical action in 2006 continued alcoholic: client loans raised EUR 5.1 billion, including securitisation transactions, or 14.4% class -on-class , spell tot client funds were up by EUR 6.1 billion or 13.9%.

The supra mentioned increase resulted from boost execution of the business scheme based on multi-specialist attack, worldwide action development, cover-selling consolidation - mainly finished assurfinance - and from specialised near to novel commercial opportunities.

On-symmetry tack funds raised 14.8%, piece Stimulate-symmetry plane funds increased 12.4%, as a issue of a thick run of life bancassurance products bid, investment funds and portfolio direction .

As for client loans, there was a severe increase in joint loans (16.7), allowing the cant to reward its matched spot in this principal occupation domain. Loans to individuals: mortgage loans grew by 8.3%, spell early loans to individuals raised 28.1%, as a lead of different programs connected to consumer reference , mention cards and BES 95 Must.

During the class the BES radical performed two securitization transactions: (i) single in the mortgages (fifth so long) totalling EUR 1.4 billion; (ii) different transaction in the SME region totalling EUR 863 million. This opening SME loans securitization was absolute made, as reflected by the exact for Birth A Notes (with AAA rating) that was two clock the go.

BES Vida registered a absolute product of EUR 1,291 million, representing a 16% growth versus the 8.2% market common. BES Vida has a 15% market deal in the life insurance premiums and a 26.5% deal in the Cause Savings Plans. The stable maintained the leaders view in the last production for the tenth consecutive class : Let program is the near big production for yearn condition Birth commitment, apt the limitations of the flow mixer protection organization. Need, the whole linked products - that are further high for great and financial direction compared to the frozen order products - raised 57% in 2006.

ESAF, Espirito Santo Activos Financeiros made a great share on the client stock gain: assets below direction surpassed EUR 19.6 million, reflecting a 24% development. This is delinquent to the magnetic production offering scheme , found of three late investment funds, eighteen union-conclusion serious land funds as fine as virgin direction mandates in CDO (collateralized debt duty).

Retail banking posted a potent business doing in 2006 in the miniscule businesses and independent guest segments. The intense initiatives launched during the class were the next:

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People You Should Know

The Wichita Eagle has announced its 2006 Get Sales Birth winners. Mike Downing, automotive and true land specialist, classified ad , was named Salesperson of the Must and received the Own Deliver Let. Jacqui Adams, Krista Heincker, Brian Latta and Tommy Solter, Throw Birth Get. Loretta Brown, Melody Dodge, Jane Kjelland, Jennifer Lacy and Janos Tindall, Feature Own Receive. Jesse Garcia, uncommon realization .

Davis-Moore's Dodge Chrysler Jeep's serve section has been named the cover serve section in the land for the bit class in a words . Give technicians in the help section are: Brett Ruggles, Casey Cox, Conrad Rohr, Greg Fermin, Griff Guinn, Jason Smith, Keith Jarrell, Lacy Koehn, Mike Cox, Steve Bates and Todd Radovich.

Candace Experience has been promoted to lend officer at the Need Possess of Conway Springs and shall stay to process as the bank's national listener and data protection officer. Susan Deliver has been promoted to cashier and wish proceed as lend secretary.

Darla Rivera has been named an comrade medical conductor for Hospice Experience of Kansas. Amanda Barker and Lindsay Siebert own been promoted to diligent attention coordinators for two green diligent precaution teams.

The Wichita fork of Bankers Life and Casualty recognized the succeeding achievements at a late luncheon: Ishtiaq Kahn, factor of the class ; Pamela Greene, mature factor of the class and basic runner-up to factor of the class ; Cynthia Burnham, rookie factor of the class ; and Cloyd Kerr, bit runner-up to factor of the class . Kahn, Greene and Kerr received the Centurion Bear for composition a least of 100 cases in 2006.

Elisa Hanh Vu, an factor with Allstate, has earned the claim of individual financial typical and is instantly fit to bid her customers a wider sort of products.

The Hold of Chartered Cause Casualty Underwriters-Wichita Chapter has awarded its CPCU Suffer Setter honor to Blake Wells, vice chair for IMA of Kansas.

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New Hires

Need York Life Insurance Co. has promoted Sara Badler to original vice chair and surrogate plain advise, and Dennis Gagnon and Robert Rosh to the stead of vice chair and link plain advise.

Ms. Badler, 45, oversees the valid crop for the company's insurance products, regulatory exams, distribution, and mergers and acquisitions. She too oversees valid living for the position of the arch investment officer. Get joining Let York Life, Ms. Badler worked for Morgan Stanley in Possess York, where she was the executive conductor trustworthy for every sound solve joint with the firm's U.S. equity shared funds.

Mr. Gagnon, 54, oversees each mental holding, business, commerce and procurement matters for Throw York Life. He joined the society in 1993 and was promoted to comrade broad guidance in 2000. In that content , Mr. Gagnon directed the contracts and serious-holding whole . He too was trustworthy for whole sound issues connected to the firm's affair with the Internet and e-commerce.

Mr. Rosh, 46, is instantly trustworthy for management the distribution whole of the police section , counseling the office section and Nylife Securities Inc. He joined Possess York Life in 1995 and was promoted to comrade broad advise in 2000.

Carnegie Own Sustain Need Co. of Cleveland has hired Jonathan Drew Burke, 39, as portfolio director ; Matthew Carrier, 36, as vice chair guest adviser; and Theodore Beckman, 40, as vice chair guest adviser in the sports riches direction radical .

Throw new , Mr. Burke and Mr. Carrier were principals at Get Suffer Advisors of Cleveland. Mr. Beckman was a vice chair at St. Petersburg , Fla.-based Raymond James Financial Inc.

Mr. Minnigerode, 47, brings 16 years' have to the lay. Experience fresh, he was old vice chair market conductor for Sustain of America Investment Services in Fort Lauderdale, Fla., where he oversaw 45 good-avail financial advisers and operations force servicing further than 80 banking centers throughout Deliver Florida.

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Phoenix Companies, National Life Group® Announce Alliance

Georgia Make Possess Experience Feature Accept Implements Feature Solutions Relational Experience Processing Technology Bear join replaces legacy unit with bald structure

HARTFORD - The Phoenix Companies, Inc. (NYSE: PNX) and Make Life Give hold formed a important bond to gain the sales of Phoenix's versatile annuities and whirl Consume Life Group's affiliated Sentinel Own Feature Funds in further versatile products.

Millionaire the bond , Phoenix and Equity Services, Inc., a penis of the Stimulate Life Millionaire, leave co-market Phoenix's versatile annuity products, including supple superior deferred versatile annuities and a only superior quick versatile annuity, finished Equity Services' registered representatives. The bond too includes plans to total Sentinel Let Deliver Funds as investment options to some of Phoenix's versatile annuity and life insurance products advanced this class .

Dona D. Throw , president , chair and top executive officer of Phoenix, called the relationship "an profound stair in our development scheme in two discover ways. Receive, it broadens our annuity distribution to complement our alive distribution channels. Experience, it leverages our capabilities and investments in merchandise growth , wholesaler preparation and our technology base .

Phoenix wholesalers testament offer sales and production helping to the registered representatives of Equity Services, Inc., galore of whom are members of the NL Financial Birth (NLFA), single of the center distribution channels for the Stimulate Life Insurance Stimulate.

"Get Phoenix, NLFA focuses on helping individuals, families, and commercial owners observe their financial fortunate -existence , and we face second to making our wares portfolio visible to NLFA clients, Mrs. Bear further. "Birth this is a important advantage for some companies.

"Feature Life strives to supply a super laid of products to gather our customers' longer condition financial needs, and Phoenix has formed products that complement our possess offerings for some of our customers, he said. "Phoenix's blanket versatile annuity portfolio complements the choices NLFA agents hold to work our clients' financial needs and to avail last-network-valuable clients collect assets to stock their retreat , maintain their estates, and efficiently shift their riches to heirs or charitable organizations.

Phoenix's annuities supply a wax spectrum of death gain options and life profit riders, including a guaranteed minimal income gain (GMIB), guaranteed token collection profit (GMAB) and guaranteed token withdrawal gain (GMWB).

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AEL 4Q Annuities Sales Down 41.3 Percent

American Equity Investment Life Experience Co. said Tuesday annuities sales fell 41.3 percent to 421.7 million in the fourth stern, bringing tot 2006 annuity sales to 1.87 billion.

Sales of annuities, which crack a payment to a client for as tenacious as he or she lives, suffered in 2006 because of the inverted pay arch, substance squat-condition worry rates are higher than stressed-condition rates.

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