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AEGON Delivers Strong Underlying Earnings And Sales Growth; Capital Position Further Strengthened

Operational free cash flow amounted to EUR 761 million. Excluding positive market impacts of EUR 622 million and negative one-time items of EUR 157 million, the operational free cash flows amounted to EUR 296 million. Market impacts included the impact of the Ultimate Forward Rate change and favorable yield curve movements in the Netherlands partly offset by adverse interest rate and equity market movements which affected AEGON's businesses in the United States.

The one-time items included the effects of measures in the Netherlands related to unit-linked insurance policies and adverse tax items in the Americas. Operational free cash flows represent distributable earnings generation of the business units. The impact of capital preservation initiatives is not included in the reported operational free cash flows. AEGON is on track to improve operational free cash flow from its 2010 normalized level of EUR 1.0-1.2 billion per annum by 30% by 2015.

In July, AEGON issued EUR 500 million in senior unsecured notes due in 2017. The notes were issued under AEGON's USD 6 billion debt issuance program at a price of 99.712%, and carry a coupon of 3%. Net proceeds from this issuance will be used for general corporate purposes and the replacement of short-term debt.

Interim dividend

The 2012 interim dividend amounts to EUR 0.10 per common share. The interim dividend will be paid in cash or stock at the election of the shareholder. The value of the stock dividend will be approximately equal to the cash dividend.

AEGON shares will be quoted ex-dividend on August 16, 2012. The record date is August 20, 2012. The election period for shareholders will run from August 22 up to and including September 7, 2012. The stock fraction will be based on the average share price on Euronext Amsterdam from September 3 through September 7, 2012. The stock dividend ratio will be announced on September 7, 2012 after closing of Euronext Amsterdam. The dividend will be payable as of September 14, 2012.

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