AEGON and Banca Transilvania to Form Partnership in Romania

The HAGUE, The Netherlands and BUCHAREST, Romania, January 19

Jan 19, 2007, 00:00 ET from AEGON N.V.

/PRNewswire-FirstCall/ -- AEGON and Banca Transilvania have signed a
 memorandum of understanding to jointly develop and operate a mandatory
 pension company in Romania. The 50-50 joint venture company will be
 established during the summer of 2007 in anticipation of the mandatory
 pension system, which is expected to be operational in Romania by early
 2008. In addition, AEGON will establish a life insurance company in Romania
 that will enter into a distribution agreement with Banca Transilvania to
 sell co-branded products through the bank's extensive network of 340
 branches. The pension company will be based in Cluj-Napoca, Romania.
     Donald J. Shepard, Chief Executive Officer and Chairman of the
 Executive Board of AEGON N.V. stated, "We are delighted to fulfill our
 intention to enter Romania with such a strong and respected partner as
 Banca Transilvania. This new partnership continues our focus on developing
 AEGON's presence throughout the Central and Eastern European region where
 we believe we can achieve above average growth over the next several years.
 With the introduction of a mandatory pension system in the coming year,
 AEGON looks forward to providing customers in the region with life
 insurance and pension solutions that will meet their developing needs."
     Robert C. Rekkers, Chief Executive Officer of Banca Transilvania
 stated: "Banca Transilvania, as a bank and flagship of BT Financial Group
 is an active player on the Romanian financial market, offering a complete
 range of banking and financial services. Now, through the pension joint
 venture with AEGON we continue to be first movers in Romania, adding value
 to our customers and shareholders."
     "The proposed partnership with Banca Transilvania and our recent
 acquisition of a pension management company in Poland will further
 strengthen our presence in the Central and Eastern European pension
 markets", said Gabor Kepecs, Chief Executive Officer of AEGON Central and
 Eastern Europe, who will lead AEGON's implementation of the new joint
 venture company. "We look forward to combining AEGON's expertise in
 providing innovative life insurance and pension solutions with the solid
 reputation and strong distribution capabilities of Banca Transilvania to
 maximize the opportunities in the Romanian market."
     AEGON and Banca Transilvania expect to enter into definitive agreements
 regarding this partnership later this year, subject to regulatory
     About Banca Transilvania
     With a market share of 4.5%, Banca Transilvania is the fifth largest
 commercial bank in Romania. The bank's headquarters are located in
 Cluj-Napoca, Transylvania's most important city, and during its thirteen
 years of activity the bank has become a national player, with more than
 4,500 employees and 340 branches. Since 1997, Banca Transilvania is listed
 on the Bucharest Stock Exchange. The bank is the core and synergy driver of
 BT Financial Group offering integrated financial services like: banking,
 general insurance (BT Asigurari being among the top 10 non-life insurance
 companies in Romania), leasing, brokerage, factoring and asset management.
 Due to its outstanding results, Banca Transilvania has received several
 awards from reputable financial publications: "Best Bank for SMEs", awarded
 by Bucharest Business Week, and "Bank of the Year 2006", awarded by Oskar
 Capital. Starting in 2002, under the management of Dutchman Robert C.
 Rekkers, Banca Transilvana embarked on an ambitious expansion in Retail,
 SMEs and Corporate Banking. Innovation, flexibility, dynamism are key words
 to describe Banca Transilvania, a modern financial institution focused on
     AEGON (NYSE:   AEG; LSE: AGN) is one of the world's largest life
 insurance and pension companies, and a strong provider of investment
 products. We empower our local business units to identify and provide
 products and services that meet the evolving needs of our customers, using
 distribution channels best suited to their local markets. We take pride in
 balancing a local approach with the power of an expanding global operation.
     With headquarters in The Hague, the Netherlands, AEGON companies employ
 approximately 27,000 people. 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.
     Respect, quality, transparency and trust constitute AEGON's core values
 as the company continually strives to meet the expectations of customers,
 shareholders, employees and business partners. AEGON is driven to deliver
 new thinking and our ambition is to be the best in the industry.
     Forward looking statements
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 facts may be forward-looking statements as defined in the U.S. Private
 Securities Litigation Reform Act of 1995. Words such as `believe',
 `estimate', 'target', `intend', `may', `expect', `anticipate', `predict',
 `project', `counting on', `plan', `continue', `want', `forecast', `should',
 `would', `is confident' and `will' and similar expressions as they relate
 to us are intended to identify such forward-looking statements. These
 statements are not guarantees of future performance and involve risks,
 uncertainties and assumptions that are difficult to predict. We undertake
 no obligation to publicly update or revise any forward-looking statements.
 Readers are cautioned not to place undue reliance on these forward-looking
 statements, which speak only as of their dates.
     - All forward-looking statements are subject to various risks and
 uncertainties that could cause actual results to differ materially from
 expectations, including, but not limited to, the following:
     - Changes in general economic conditions, particularly in the United
 States, the Netherlands and the United Kingdom;
     - Changes in the performance of financial markets, including emerging
 markets, including:
     - The frequency and severity of defaults by issuers in our fixed income
 investment portfolios; and
     - The effects of corporate bankruptcies and/or accounting restatements
 on the financial markets and the resulting decline in value of equity and
 debt securities we hold;
     - The frequency and severity of insured loss events;
     - Changes affecting mortality, morbidity and other factors that may
 affect the profitability of our insurance products;
     - Changes affecting interest rate levels and continuing low interest
 rate levels and rapidly changing interest rate levels;
     - Changes affecting currency exchange rates, including the EUR/USD and
 EUR/GBP exchange rates;
     - Increasing levels of competition in the United States, the
 Netherlands, the United Kingdom and emerging markets;
     - Changes in laws and regulations, particularly those affecting our
 operations, the products we sell and the attractiveness of certain products
 to our consumers;
     - Regulatory changes relating to the insurance industry in the
 jurisdictions in which we operate;
     - Acts of God, acts of terrorism, acts of war and pandemics;
     - Changes in the policies of central banks and/or governments;
     - Litigation or regulatory action that could require us to pay
 significant damages or change the way we do business;
     - Customer responsiveness to both new products and distribution
     - Competitive, legal, regulatory, or tax changes that affect the
 distribution cost of or demand for our products;
     - Our failure to achieve anticipated levels of earnings or operational
 efficiencies as well as other cost saving initiatives;
     - The impact on our reported financial results and financial condition
 as a result of our adoption of International Financial Reporting Standards.
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