Jackson National Reports Strong Sales Growth in 2004

    Business Editors

    LANSING, Mich.--(BUSINESS WIRE)--Jan. 26, 2005--Jackson National Life Insurance Company(R) (JNL(R)) recorded more than $6.5 billion in retail sales of its core annuity and life insurance products during 2004, an increase of 12 percent over the previous year.
    "One of Jackson National's strengths is its diverse product lineup, which allows the company to quickly adapt to changing consumer demands under different market environments," said Clark Manning, JNL's president and CEO. "JNL's 2004 sales increases were the result of having the right products in the market, combined with excellent wholesaling, award-winning customer service and innovative technology."
    Jackson National Life(R), an indirect wholly owned subsidiary of the United Kingdom's Prudential plc (NYSE:PUK), reported sales of the company's variable annuities climbed 15 percent year over year to $3.6 billion, driven by strong sales of the company's Perspective II(R)(1) product, which was the industry's best-selling variable annuity contract in terms of net flow.(2) Industry-wide growth in new sales of variable annuities was nearly 5 percent through the first three quarters of the year.(3)
    Sales of JNL equity-indexed annuities in 2004 increased more than 88 percent from the previous year to nearly $786 million. Industry-wide growth in index annuity sales was nearly 63 percent through the first three quarters of the year.(4) JNL's fixed annuity sales totaled nearly $2.1 billion in 2004, a decline of 8 percent from 2003. However, fourth quarter fixed annuity sales of $527 million were 35 percent higher than fourth quarter 2003 and 5 percent higher than third quarter 2004.
    "We are continuously evaluating and improving our products, marketing support to financial representatives and customer service in order to make it easier to do business with Jackson National Life," said Clifford Jack, JNL's executive vice president and chief distribution officer. "Our commitment to partner with financial representatives and help them build a successful and sustainable practice has made Jackson National the company of choice for many of the industry's top financial advisers and their clients."
    Jackson National continued to build momentum in its life business during the year, generating total first-year premium in excess of $50 million, more than double sales in the previous year. JNL subsidiary Curian Capital, a registered investment adviser, also continued to gain traction in the market, nearly quadrupling assets under management from year-end 2003, to more than $1 billion.
    Throughout 2004, JNL utilized available capital to opportunistically execute issuances of the company's institutional products (medium-term notes, guaranteed investment contracts and funding agreements), increasing sales by 97 percent over the previous year to nearly $1.6 billion. Sales of institutional products helped the company's 2004 total sales rise 22 percent over the previous year, to nearly $8.1 billion.
    "2005 is shaping up to be yet another ambitious year," said Manning. "The company is well-positioned to efficiently execute its strategy and continue to generate profitable growth for its parent company and shareholders."

    (1) The Perspective II Fixed and Variable Annuity is not FDIC/NCUA insured, may lose value, is not Bank/CU guaranteed, is not a deposit and is not insured by any federal agency.

    (2) Source: The Variable Annuity Research & Data Service (VARDS(R)), a unit of Morningstar, Inc. Rankings as of 9/30/04. Calculated net flow estimates are based on the growth in quarterly assets under management net of monthly investment returns.

    (3) Source: VARDS.

    (4) Source: The Advantage Group.

    Before investing in variable products, investors should carefully consider the investment objectives, risks, charges and expenses of the variable product and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.

    About JNL

    With more than $60 billion in assets (GAAP)(5), Jackson National(R) is an industry leader in fixed, indexed and variable annuities. JNL also sells separately managed accounts, life insurance and institutional products. The company markets its products in 49 states and the District of Columbia, through independent and regional broker-dealers, financial institutions, independent insurance agents, and registered investment advisers. JNL's subsidiary, Jackson National Life Insurance Company of New York(SM), similarly markets products in the state of New York. Through its affiliates and subsidiaries, JNL also provides asset management and retail brokerage services. For more information, visit www.jnl.com.

    (5) As of 6/30/04. JNL also has more than $51 billion (GAAP) in policy liabilities set aside primarily to pay future policyowner benefits.

    The Perspective II Fixed and Variable Annuity (VA250. Product and/or features may not be available in all states and state variations may apply) is issued by Jackson National Life Insurance Company and distributed through Jackson National Life Distributors, Inc., member NASD. This product has restrictions and limitations. Variable annuities involve investment risks and may lose value.
    Jackson National Life Insurance Company, headquartered in Lansing, Michigan, is one of America's largest life insurance companies, with $121 billion in life insurance in force and $60.4 billion in assets (GAAP) with $51.1 billion (GAAP) in policy liabilities set aside to pay primarily future policyowner benefits (as of 6/30/04). Jackson National is an indirect subsidiary of Prudential plc (NYSE:PUK), a company incorporated and with its principal place of business in the United Kingdom. Prudential plc and its affiliated companies constitute one of the world's leading financial service groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. It has been in existence for over 150 years and had more than $300 billion in assets under management, as of 6/30/04. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
    The following cautionary statement is included to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.

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CONTACT: Jackson National Life Insurance Company Tim Padot, 800-565-9044, ext. 2425 Fax: 517-367-4710 tim.padot@jnli.com

KEYWORD: MICHIGAN INDUSTRY KEYWORD: INSURANCE BANKING EARNINGS SOURCE: Jackson National Life Insurance Company

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