Principal Financial Group, Inc. Announces Common Stock Offering

DES MOINES, Iowa--(Business Wire)--
Principal Financial Group, Inc. (NYSE:PFG) announced today a proposed offering
of 42,250,000 shares of common stock to the public. The net proceeds from the
offering will be used for general corporate purposes.

The underwriters will have a 30-day option to purchase 6,337,500 shares
representing an additional 15 percent of the offering amount from The Principal
to cover overallotments, if any.

Merrill Lynch & Co. is the sole book-running manager for the offering.

The shares are being offered pursuant to the company`s effective shelf
registration statement on file with the Securities and Exchange Commission. The
proposed offering will be made only by means of a prospectus and related
prospectus supplement. Copies of the prospectus and prospectus supplement for
the offering may be obtained from Merrill Lynch & Co. 4 World Financial Center,
New York, New York 10080, telephone: 212-449-1000.

This press release is neither an offer to sell, nor a solicitation of an offer
to buy, nor shall there be any sale of shares of common stock in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.

Forward looking and cautionary statements

This press release may contain forward-looking statements, including, without
limitation, statements as to sales targets, sales and earnings trends, and
management's beliefs, expectations, goals and opinions. The company does not
undertake to update these statements, which are based on a number of assumptions
concerning future conditions that may ultimately prove to be inaccurate. Future
events and their effects on the company may not be those anticipated, and actual
results may differ materially from the results anticipated in these
forward-looking statements. The risks, uncertainties and factors that could
cause or contribute to such material differences are discussed in the company's
annual report on Form 10-K for the year ended December 31, 2008 and quarterly
report on Form 10-Q for the quarter ended March 31, 2009, each filed by the
company with the Securities and Exchange Commission. These risks and
uncertainties include, without limitation: competitive factors; volatility of
financial markets; decrease in ratings; interest rate changes; inability to
attract and retain sales representatives; international business risks; foreign
currency exchange rate fluctuations; a pandemic, terrorist attack or other
catastrophic event; default of the company`s re-insurers; and investment
portfolio risks.

About the Principal Financial Group

The Principal Financial Group® (The Principal®)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 $236.6
billion in assets under management2 and serves some 18.8 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.

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 March 31, 2009

Principal Financial Group, Inc.
Media:
Susan Houser, 515-248-2268 (w) or 515-240-7558 (c)
houser.susan@principal.com
Eva Quinn, 515-247-7468 (w) or 515-778-2786 (c)
quinn.eva@principal.com
Investors:
Tom Graf, 515-235-9500
graf.tom@principal.com

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