The Principal Financial Group Together with Magellan Health Services Offers Emotional Support to Beneficiaries; Grief Support Services Now Available to Group Life Insurance Beneficiaries

Business Wire, Dec 5, 2005

DES MOINES, Iowa -- The Principal Financial Group(R), the nation's premier provider of employee benefits, announces the availability of grief support services for group life insurance beneficiaries. After the loss of a loved one, individuals experience a range of emotions as they deal with the magnitude of the event and face a number of difficult decisions. Grief support services connect beneficiaries with professionals who can provide comfort, offer guidance and suggest coping strategies.

"Because grief so often comes at a time of loss, we wanted to provide emotional support to our life insurance beneficiaries," said Greg Bavender, director for group life products at the Principal Financial Group. "With grief support services provided through Magellan, we have the opportunity to give confidential assistance during a difficult time."

Grief support services are now available to all group basic term life, voluntary term life and group universal life insurance beneficiaries. By calling a toll-free number, individuals are connected to licensed professionals who identify strategies for coping with loss. All services are confidential and are available 24/7. If assistance is needed beyond this service, counselors will work with individuals to find additional, affordable solutions.

"Earlier this year, The Principal started providing a financial services hotline for life insurance beneficiaries who needed assistance securing their financial future," noted Bavender. "Offering grief support services is one more way we are providing support to beneficiaries."

About Magellan Health Services

Magellan Health Services is the country's leading behavioural health disease management organization, specializing in managed mental health and substance abuse services as well as employee assistance/work-life programs for health plans, corporations and government agencies.

About the Principal Financial Group

The Principal Financial Group(R) (The Principal(R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $187.8 billion in assets under management(2) and serves some 15.2 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

Insurance products and services issued by Principal Life Insurance Company.

(1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(2) As of June 30, 2005