Chris has been a trueleader and we wish him well in his new role

Reddy, former Chief OperatingOfficer, has been named Chief Administration Officer of Principal GlobalInvestors, the asset management arm of the Principal Financial Group. NipponLife Insurance Company of America markets its solutions under the brand name,Nippon Life Benefits. "Jerry Patterson is a proven leader with more than 20 years of insuranceindustry experience in sales, operations, marketing and finance," said AkiraHosoda, Chief Executive Officer of Nippon Life Benefits. "Jerrys leadershipenables Nippon Life Benefits to build on the successes that Chris Reddy and therest of our team have achieved over the past few years. I look forward toworking with Jerry to continue delivering world-class employee benefit solutionsto dynamic companies across the country." Patterson worked with Principal Financial Group for the past seven years and hadresponsibility for marketing, internal sales and consulting operations for allof the companys insurance businesses, both group and individual lines. Prior tothat, he was Senior Vice President, Annuities, of The Prudential.

Patterson has a law degree from Drake Law School and aBachelor of Business Administration in Accounting from University ofWisconsin-Milwaukee School of Business He is a licensed member of both theKansas and Missouri Bars. Reddy, who served as Executive Vice President and COO of Nippon Life Benefitssince October 2005, will work with the global operations of Principal GlobalInvestors (PGI), which manages more than $225 billion in assets worldwide. Hewill be responsible for building and developing relationships with PrincipalInternational member companies, providing direction to the operations team andexecuting PGIs affiliate strategy. Reddy will also assist PGIs leadership teamwith global M&A strategy and integration, and other operational and businessprocess initiatives.

Reddys return to Principal is part of a three-year rotation typically served byChief Operating Officers of the company. "Since coming to us from Principalthree years ago, Chris has done an outstanding job," Hosoda said. Chris has been a trueleader, and we wish him well in his new role." Nippon Life Benefits is the U.S. subsidiary of Nippon Life Insurance Company,which had assets of $400 billion and annual revenues of $66 billion in 2007.Nippon Life Insurance Company currently serves more than 300,000 corporatecustomers and 11 million policyholders. About Nippon Life BenefitsNippon Life Benefits offers high-quality employee benefits to small- andmedium-sized companies that value and respect their employees and invest in themaccordingly. The companys group insurance programs provide medical, life,dental, disability, vision and prescription drug benefits.

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