AEGON CANADA TO ACQUIRE MONEY CONCEPTS

Toronto, ON July 16, 2001 – AEGON Canada Inc., a member of the
international AEGON Group and the parent company of Transamerica Life Canada, today
announced that it has reached agreement to acquire 100% of the shares of National
Financial Corporation, the parent company of Money Concepts (Canada) Ltd., from owners
First International Asset Management Inc., the founding Sylvester family and Money
Concepts Franchisee Holdco Inc.

The transaction, which is subject to regulatory notices and approvals, is
expected to close in late August.

Based in Toronto, Ontario, National Financial Corporation owns 100% of
Money Concepts (Canada) Ltd., which has the master franchise rights for the Money Concepts
brand of financial planning centres in Canada. As the management services company for
subsidiaries Money Concepts Group Capital Corporation, a registered mutual fund dealer,
and National Financial Insurance Agency Inc., a national managing general agent, Money
Concepts (Canada) Ltd.’s national network of franchises and representatives offers a
comprehensive range of products, including mutual funds and segregated funds, and a
variety of other financial planning and life insurance products.

Money Concepts is one of the pre-eminent financial planning networks in
Canada and is the largest franchised financial planning company in the country. As of
December 31, 2000, Money Concepts (Canada) Ltd. had assets under management of $2.45
billion, annualized gross revenues of $35 million, and over 71,000 clients. The company
has 348 representatives operating out of 97 offices nationally, with the exception of
Qu�bec, Newfoundland, Yukon, Nunavut and Northwest Territories. Money Concepts (Canada)
Ltd. was founded in 1984 when the Canadian rights to the Money Concepts franchise were purchased from
U.S. based Money Concepts International Inc., a global network of financial planning centres.

In announcing the transaction, George Foegele, Chairman, President and CEO
of AEGON Canada Inc. and of Transamerica Life Canada, said, “Money Concepts is an
excellent fit for our organization. The acquisition provides AEGON Canada with a mutual
fund dealer that can be leveraged to meet the needs of Money Concepts franchise owners and
their representatives, while at the same time extending the availability of these dealership
services to Transamerica Life Canada’s 18,000 independent distributors across Canada.”

“The acquisition of Money Concepts will complement AEGON
Canada’s existing MGA, National Account and Company Office channels that operate
under our Transamerica Life Canada subsidiary. We expect that, over time, all distribution
channels will benefit from a broader product and service offering, in addition to
economies of scale and scope associated with the sharing of support and services,
resulting in greater efficiencies across the board.”

“We are delighted that the entire senior management team of National
Financial Corporation and Money Concepts (Canada) Ltd. have agreed to join us in building
this new organization.” Mr. Foegele added, “This transaction reflects
AEGON’s long-term commitment to continue growing its presence in the Canadian market,
to meet the needs of independent distributors and their clients in an evolving financial
services marketplace.”

In addition to the current transaction, AEGON Canada and First
International Asset Management Inc. intend to explore opportunities for collaboration in
the development and marketing of high net worth and tax-advantaged products.

AEGON Canada will be communicating more about our business development
plans to customers, distribution partners and employees in due course.

About AEGON Canada

AEGON Canada Inc., headquartered in Toronto, is the holding company
for the Canadian operations of AEGON N.V. Based in The Hague, Netherlands, AEGON is one of
the largest insurance groups worldwide, with assets in excess of CDN $340 billion at
December 31, 2000. AEGON’s core businesses are life insurance and investment and pension products.

AEGON entered the Canadian marketplace in 1999 through its acquisition of
Transamerica Corporation. AEGON Canada’s principal operating business is Transamerica Life Canada.

For further information:

George Foegele Chairman, President and CEO
AEGON Canada Inc. and
Transamerica Life Canada
(416) 290-6221
Neil Skelding
Executive Vice President, Operations
AEGON Canada Inc. and Transamerica Life Canada
(416) 290-6221

Caroline Spivak
Argyle Rowland Worldwide
(416) 968-7311 (ext. 240)
cspivak@argylerowland.com