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AEGON The Netherlands and Citigroup Create First to Market Flexible Investment Platform; Innovative Platform To Facilitate Portable Alpha Strategies Across a Range of Asset Classes Through Pooling


    AEGON The Netherlands and Global Transaction Services, a
    business of Citigroup Corporate and Investment Banking, announced
    today that they have signed an agreement to create and implement a
    first to market flexible investment platform that will facilitate the
    use of a range of asset strategies, including portable alpha, through
    pooling. The platform is the first full service solution to support
    the process and administrative needs of investors, institutions, asset
    managers and pension funds who operate in multiple jurisdictions
    throughout Europe.
    The solution enables each participating entity to fulfill the
    different tax, accounting, regulatory requirements and reporting
    obligations of the various countries and jurisdictions where its
    investors reside. The platform also offers the capacity to achieve
    higher investment performance through the ability to invest in a wide
    range of asset classes and investment styles. It is expected that the
    platform will be fully operational by the third quarter of 2007.
    As part of the agreement, AEGON's investment management affiliates
    in The Netherlands will outsource their back and middle office
    activities to Citigroup (NYSE:C). The transaction represents a total
    of EUR 40B assets under custody with Citigroup providing funds
    administration, performance management, transition management, a range
    of customized equity-related solutions and post-trade compliance
    functions in addition to custody, securities lending, and fund
    accounting. It is anticipated that the migration of current funds will
    take place in the second quarter of 2007.
    Erik van Houwelingen, boardmember of AEGON The Netherlands, is
    proud of the platform currently being developed. "In Citigroup we have
    found a partner that understands our desire to come up with a highly
    innovative product. The platform's possibilities are almost infinite
    and supports AEGON's strategy to provide our clients with innovative
    asset management solutions efficiently and effectively, allowing our
    clients to benefit from the product and scale benefits that can be
    achieved."
    Francesco Vanni d'Archirafi, Chief Executive Officer of Citigroup
    Global Transaction Services for Europe, Middle East and Africa, said,
    "Citigroup is thrilled to be extending our relationship with AEGON to
    create this innovative platform. This agreement further demonstrates
    our commitment to create first to market opportunities and to leverage
    our technology and scale for the long-term benefit of our clients."

    Notes to Editors

    AEGON

    AEGON The Netherlands is part of AEGON N.V. The Group,
    headquartered in The Hague, is one of the world's largest life
    insurance and pension companies, and a strong provider of investment
    products. AEGON's three major markets are the United States, the
    Netherlands and the United Kingdom. In addition, the Group is present
    in a number of other countries including Canada, China, Czech
    Republic, Hungary, Poland, Slovakia, Spain and Taiwan. In 2005
    revenues of the Group amounted to 30 billion euro, of which 20% was
    earned in the Netherlands.

    Citigroup Corporate and Investment Banking

    Citigroup Corporate and Investment Banking is the most complete
    financial partner to corporations, financial institutions,
    institutional investors and governments in the world. As a global
    leader in banking, capital markets, and transaction services, with a
    presence in many countries dating back more than 100 years, Citigroup
    Corporate and Investment Banking enables clients to achieve their
    strategic financial objectives by providing them with cutting-edge
    ideas, best-in-class products and solutions, and unparalleled access
    to capital and liquidity.

    Citigroup

    Citigroup (NYSE:C), the leading global financial services company
    has some 200 million customer accounts and does business in more than
    100 countries, providing consumers, corporations, governments and
    institutions with a broad range of financial products and services,
    including consumer banking and credit, corporate and investment
    banking, securities brokerage, and wealth management. Major brand
    names under Citigroup's trademark red umbrella include Citibank,
    CitiFinancial, Primerica, Smith Barney and Banamex. Additional
    information may be found at www.citigroup.com