Aegon does not hold common equity in Washington Mutual.
During 2008, Aegon has actively lowered its exposure to Washington Mutual by approximately 47%. As of September 26, 2008, Aegon had a total general account fixed income gross exposure of EUR 125 million. This amount includes Credit Default Swaps-related exposure to Washington Mutual.
Any effect of credit losses on Aegon’s excess capital and net income will be substantially lower as a result of a variety of factors, including taxes and recovery values.