Minnesota Life Insurance Company Reassures Stakeholders

Business Wire, Sept 12, 2001

Business Editors

ST. PAUL, Minn.--(BUSINESS WIRE)--Sept. 12, 2001

Robert L. Senkler, chairman, president and chief executive of Minnesota Life Insurance Co., Saint Paul, MN, issued a statement of reassurance following the terrorist attacks in New York and Washington.

"Minnesota Life has the financial strength to meet all obligations to its customers, including any who may be affected by today's tragic events," said Senkler. " We are strongly positioned to meet all of our obligations to our customers, and we will be there when they need us--to pay the claims, manage the investments and perform all the services they expect of us."

While it is too early to assess the impact of the terrorist events of September 11 on the stock and bond markets, Advantus Capital Management, Minnesota Life's asset management subsidiary, is closely monitoring events. Advantus and other Minnesota Life subsidiaries and business units are following holiday processing procedures for market-related transactions on the dates the markets are closed. All transactions from September 11, 12, and any subsequent days will be processed when the market reopens. Account balances will reflect the market values from the last business day the New York Stock Exchange was open.

Business units, subsidiaries and affiliates of Minnesota Life include:

-- Advantus Capital Management

-- Securian Financial Network

-- Securian Retirement Services

-- Securian Financial Services

-- IA Systems, Inc.

-- WorthMark Financial Services

Founded in 1880, Minnesota Life Insurance Company provides financial security for individuals and businesses in the form of insurance, pensions and investments. The Company is one of a select number of insurance groups in the United States carrying "very high" ratings including: A from A.M. Best, AA from Standard & Poor's, Aa2 from Moody's Investors Services and AA from Fitch. With $260 billion of life insurance in force and $20 billion in assets under management, the Company serves over six million people through a combined work force of 4,400 people at its St. Paul headquarters and agencies and offices across the country.