REG-Aegon N.V.: Final agreement AEGON on unit-linked insurance

AEGON reaches final agreement to reduce charges on unit-linked insurance
policies in the Netherlands

AEGON has reached a final agreement with Stichting Verliespolis and Stichting
Woekerpolis Claim to reduce charges for customers of its unit-linked insurance
policies in the Netherlands. The agreement is part of industry-wide efforts in
the Netherlands to address concerns over charges related to unit-linked
insurance products.

AEGON previously announced improvements to such policies last September. Based
on the information available at that time, the company estimated the cost at
approximately EUR 140 million before tax. Under the final agreement announced
today, AEGON will commit an additional maximum amount of EUR 110 million before
tax to improve terms and conditions of its unit-linked policies, which includes
a maximum of EUR 80 million before tax to assist those customers experiencing
adverse financial circumstances.

As a result of the final agreement, there will be an additional impact on the
company's embedded value of approximately EUR 70 million after tax. The cost of
improvements will be reflected in AEGON's earnings over the remainder of the
lifespan of affected policies. Consequently, AEGON expects no significant
impact on its 2009 income statement as it has adequate provisions.

The final agreement is the result of several months of negotiations between
AEGON and organizations in the Netherlands representing the interests of
customers. These organizations will be involved in supervising the
implementation of the agreement.

"We are pleased to have reached a good agreement for our customers", said Marco
Keim, member of AEGON's Management Board. "The Dutch Financial Service
Ombudsman has examined the AEGON agreement and confirmed that it is fully in
line with his Recommendation and consistent with prior agreements of other
insurance companies".

Before this agreement, AEGON had made substantial improvements by reducing
costs and premiums for its unit-linked insurance products in the Netherlands.
These previous improvements, introduced over a number of years, are valued at
approximately EUR 380 million before tax. AEGON's unit-linked portfolio
consists of 1.3 million policies, of which 50% have a guaranteed minimum
return.

As an international life insurance, pension and investment company based in The
Hague, AEGON has businesses in over twenty markets in the Americas, Europe and
Asia. AEGON companies employ just over 31,000 people and have over 40 million
customers across the globe.

Key figures First quarter Full year 2008
2009

Underlying earnings before EUR (22) EUR 1.57 billion
tax million

New life sales EUR 543 million EUR 2.63 billion

Gross deposits EUR 8.2 billion EUR 40.75 billion

Revenue generating EUR 334 billion EUR 332 billion
investments
(End of period)

For further information:

Communications AEGON The NetherlandsInvestor relations

Debora de Laaf Gerbrand Nijman

+ 31 (0)70 344 8730 / +31(0)6 1133 1501 + 31 (0)70 - 344 8305 or 877 548 9668 -
toll free USA only

E-mail: ddelaaf@aegon.nl E-mail: ir@aegon.com

Media relationsAEGON N.V.
Dick Schiethart

+ 31 (0)70 - 344 8956

E-mail: gcc-ir@aegon.com

Website
www.aegon.com

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Forward-looking statements

The statements contained in this press release that are not historical facts
are forward-looking statements as defined in the US Private Securities
Litigation Reform Act of 1995. The following are words that identify such
forward-looking statements: believe, estimate, target, intend, may, expect,
anticipate, predict, project, counting on, plan, continue, want, forecast,
should, would, is confident, will, and similar expressions as they relate to
our company. These statements are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to predict. We
undertake no obligation to publicly update or revise any forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which merely reflect company expectations at the
time of writing. Actual results may differ materially from expectations
conveyed in forward-looking statements due to changes caused by various risks
and uncertainties. Such risks and uncertainties include but are not limited to
the following:

* Changes in general economic conditions, particularly in the United States,
the Netherlands and the United Kingdom;

* Changes in the performance of financial markets, including emerging
markets, such as with regard to:

* The frequency and severity of defaults by issuers in our fixed income
investment portfolios; and

* The effects of corporate bankruptcies and/or accounting restatements on the
financial markets and the resulting decline in the value of equity and debt
securities we hold;

* The frequency and severity of insured loss events;

* Changes affecting mortality, morbidity and other factors that may impact
the profitability of our insurance products;

* Changes affecting interest rate levels and continuing low or rapidly
changing interest rate levels;

* Changes affecting currency exchange rates, in particular the EUR/USD and
EUR/GBP exchange rates;

* Increasing levels of competition in the United States, the Netherlands, the
United Kingdom and emerging markets;

* Changes in laws and regulations, particularly those affecting our
operations, the products we sell, and the attractiveness of certain
products to our consumers;

* Regulatory changes relating to the insurance industry in the jurisdictions
in which we operate;

* Acts of God, acts of terrorism, acts of war and pandemics;

* Changes in the policies of central banks and/or governments;

* Litigation or regulatory action that could require us to pay significant
damages or change the way we do business;

* Customer responsiveness to both new products and distribution channels;

* Competitive, legal, regulatory, or tax changes that affect the distribution
cost of or demand for our products;

* Our failure to achieve anticipated levels of earnings or operational
efficiencies as well as other cost saving initiatives; and

* The impact our adoption of the International Financial Reporting Standards
may have on our reported financial results and financial condition.

Further details of potential risks and uncertainties affecting the company are
described in the company's filings with Euronext Amsterdam and the US
Securities and Exchange Commission, including the Annual Report on Form 20-F.
These forward-looking statements speak only as of the date of this document.
Except as required by any applicable law or regulation, the company expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based.

Press release

JULY 13,2009

20090713

About AEGON

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