Transamerica strengthens Transamerica Investment Portfolio™ with five new guaranteed investment funds

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New funds combine exclusive investment management with powerful guarantees to meet investor demand for greater protection

TORONTO, June 17, 2003 – Transamerica Life Canada today announced plans to enhance its segregated fund family with five new guaranteed investment funds (GIFs). The new funds will be introduced to the Transamerica Investment Portfolio(TM) (TIP) in July, 2003, subject to regulatory approval.

The new Transamerica imaxx(TM) GIFs blend international investment expertise exclusive to AEGON Fund Management’s imaxxFunds(TM) with the added protection of guarantees from Transamerica Life Canada. Geraldo Ferreira, Vice President Marketing and Product Development, explains: “These new segregated
funds leverage the innovation, discipline and expertise behind imaxxFunds. The combination of investment guarantees and exclusive money management provides an appealing alternative for investors who, although nervous about the markets, understand the long-term benefits of sensible investing.”

Mark Jackson, Chief Investment Officer at AEGON Capital Management, together with Glenn Paradis, the portfolio manager for the new Transamerica imaxx Canadian Fixed Pay GIF, note that investors are seeking a more balanced combination of value, growth and security. “While investor sensitivity will likely persist in the mid-term, investors and their advisors continue to turn to alternative investments like guaranteed investment funds, which combine
insurance security and exceptional money management talent,” explains Mr. Jackson.

Guarantees provide a secure and stable foundation to a well-diversified investment portfolio, especially when preservation of capital and consistent investment growth is paramount. The new Transamerica imaxx GIFs are supported by two guarantee options, allowing policyholders to protect their investments from uncertainty and short-term volatility.

The carefully-selected money managers supporting the underlying fund within the new Transamerica imaxx GIFs are Foyston, Gordon & Payne Inc., Bear Stearns Asset Management Inc., Walter Scott & Partners Ltd, Great Companies LLC and AEGON Capital Management. Typically, this world-class investment intelligence has only been available to wealthy investors able to meet high minimum investment thresholds, and through the imaxx mutual funds offered by AEGON Fund Management Inc.

New Transamerica Investment Portfolio Funds:
NEW TIP Fund Portfolio Manager Guarantee Options(*)
Transamerica imaxx Canadian
Fixed Pay GIF
AEGON Capital Management Inc. 75%/75%,
Transamerica imaxx Canadian
Equity Value GIF
Foyston, Gordon & Payne Inc. 75%/75%,
Transamerica imaxx U.S.
Equity Value GIF
Bear Stearns Asset Management Inc. 75%/75%,
Transamerica imaxx Global
Sectors GIF
Walter Scott & Partners Ltd. 75%/75%,
Transamerica imaxx Global
Companies GIF
Great Companies LLC 75%/75%,

(*) Upon maturity / death

The introduction of these new Transamerica imaxx GIFs is central to Transamerica Life Canada’s strategy to strengthen and streamline its guaranteed investment fund offering with the help of AEGON Fund Management’s innovative imaxx wealth management solution.

Transamerica Life Canada is a market leader in the sale of individual life insurance and segregated funds. Through a national network of 18,000 independent advisors, Transamerica Life Canada helps Canadians meet their financial goals and preserve their wealth through innovative financial products and services.

Transamerica Life Canada is a member of the AEGON Group, one of the world’s largest insurers. AEGON N.V. and Transamerica Life Canada have consistently received strong financial ratings from Standard and Poor’s, Fitch and A.M. Best Company. In 2002, Transamerica Life Canada earned more than $560 million in life insurance premium income and recorded over $7 billion in total assets under management.

imaxx is AEGON Fund Management’s innovative wealth management solution for Canadian advisors. imaxx was launched in June 2002 and incorporates individual funds, asset allocation portfolios, advisor tools and training.