September 17, 2008

Securian Financial Group remains very strongly positioned to withstand the impact of the current turmoil in the financial markets, including the financial problems experienced by Lehman and AIG. We take a long-term approach to our business, and we have purposefully built our capital strength to weather these types of economic shocks and market volatility. Although some losses may be unavoidable in this environment, we do not believe our investment exposures will materially affect our capital strength or our high ratings for financial strength and claims-paying ability.

Although AIG is a member of our peer group of life insurance competitors, we understand their current financial problems derive from non-life insurance businesses that created a heavy reliance on capital markets financing. Securian has no reliance on capital markets financing to meets its obligations. We have more than enough liquidity to fulfill our promises.

Through our investment philosophy and disciplined process, we limit our exposure to risky investments. Ninety-seven percent of our bond portfolio was investment grade, as of June 30, 2008, and remains so today. Among our peer group, we ranked number one based on asset quality (Moody's Statistical Handbook, 12/31/07) and second based on our ratio of capital and surplus-to-liabilities (OneSource, 12/31/07). Our assets and our businesses are strongly diversified, and our strong capital position enables us to continue investing strategically in our core businesses to serve the needs of our customers.

Our focus remains on our customers and ensuring that we have the financial strength to fulfill our obligations to them.

Sincerely,

Robert L. Senkler
Chairman and CEO

To read a Questions and Answers document related to Securian's financial strength click here.

Robert L. Senkler
Chairman and CEO

"Our focus remains on our customers and ensuring that we have the financial strength to fulfill our obligations to them."