Fidelity & Guaranty Life Launches Rewards Series Indexed Annuities

    BALTIMORE, Dec. 17 /PRNewswire/ -- Fidelity & Guaranty Life introduces
 their Equity Indexed Annuity Rewards Series(R), featuring two initial products
 in the series: Loyalty Rewards and Index Rewards.
     Loyalty Rewards is a flexible premium deferred indexed annuity that
 employs a 12% Account Value Escalator - a feature that adds a 1% guaranteed
 annual addition to the account value for 12 years.  Like the premium itself,
 the additions are eligible for future index growth.   With the Account Value
 Escalator, policyholders who stay with the company for the contract term find
 their loyalty amply rewarded.
     "The Account Value Escalator is like having an annuity within an annuity
 that ensures steady growth," said Mike Ebmeier, vice president of F&G Life's
 Brokerage Annuity channel.  "No matter what, the client receives annual
 additions equivalent to 12% of their initial premium if they stick with the
 policy.  These annual additions create a rising foundation on which to build
 future growth and retirement savings."
     Index Rewards, the companion product to Loyalty Rewards in the series, is
 a single premium deferred indexed annuity.  Index Rewards offers a shorter
 surrender charge schedule and a guaranteed 3% annual minimum guaranteed
 surrender value.
     Both Loyalty Rewards and Index Rewards include:
 
     -- The flexibility to choose from five account value options, including
        the Dow Jones Industrial Average(SM), the S&P 500(R) as well as a fixed
        option
     -- A choice of annual point-to-point or monthly averaging
     -- 100% Participation for all index options, subject to a yearly cap
     -- Annual 10% free withdrawals
     -- The freedom to change account value options annually
 
     "Loyalty Rewards and Indexed Rewards are great products for the current
 marketplace," said Ebmeier.  "People are looking for guaranteed minimums, but
 want to have the flexibility to participate in any upswing potential in the
 market.  The Equity Indexed Annuity Rewards Series allows them to do that."
     Call 1-800-445-6758 for more information about Loyalty Rewards, Indexed
 Rewards or any other of F&G Life's annuity or insurance products.
 
     About F&G Life
     F&G Life has offered a diverse portfolio of life insurance and annuity
 products since 1959.  The company is one of the nation's leading providers of
 term and universal life insurance, deferred and immediate annuities, and
 structured settlement and tax-sheltered annuities.  Based in Baltimore,
 Maryland, F&G Life is a member of the Old Mutual plc family of companies.
 
     About Old Mutual plc
     Founded in 1845, the Old Mutual group managed in excess of $203 billion in
 funds as of June 30, 2002 and has approximately 4 million life assurance
 policyholders, 3.6 million banking customers, and more than 600,000 short-term
 insurance policyholders.  Old Mutual's primary listing is on the London Stock
 Exchange (London: OML) and they rank as a Fortune Global 500 company and FTSE
 100 financial services group.
 
     "Standard & Poor's(R)", "S&P(R)", "S&P 500(R)", "Standard & Poor's 500"
 and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been
 licensed for use by Fidelity & Guaranty Life Insurance Company.  The Product
 is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard
 & Poor's makes no representation regarding the advisability of purchasing the
 Product.
     "Dow Jones", "Dow Jones Industrial Average(SM)" and "DJIA(SM)" are service
 marks of Dow Jones & Company, Inc. and have been licensed for use for certain
 purposes by Fidelity & Guaranty Life Insurance Company.  Fidelity & Guaranty
 Life's Loyalty Rewards(SM) and Index Rewards(SM) based on the Dow Jones
 Industrial Average(SM), are not sponsored, endorsed, sold or promoted by Dow
 Jones, and Dow Jones makes no representation regarding the advisability of
 investing in such product(s).
 
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SOURCE Fidelity & Guaranty Life

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