AEGON, Swiss Re Complete Acquisitions

June 19, 2001

Dutch insurer and financial services provider AEGON N.V. announced that its U.S. subsidiary, AEGON USA, Inc., had successfully completed the acquisition of J.C. Penney’s direct marketing services. It paid $1.3 billion in cash at the time of closing.

Swiss Re subsidiary SW Holdings also announced that it had accepted the tender of 99.5 percent of the shares of Southwestern Life Holdings, and expects to complete a merger during the current quarter. Southwestern will become part of Swiss Re Life & Health America, Inc., the largest life and health reinsurer in North America.

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