AEGON Repays EUR 500 Million of Government Support

THE HAGUE, The Netherlands, August 31, 2010 /PRNewswire/ -- AEGON yesterday fulfilled its commitment to repay to the Dutch State EUR 500 million of the EUR 3 billion in core capital the company secured through its largest shareholder, Vereniging AEGON in 2008. AEGON announced its intention to repay EUR 500 million on August 17, 2010 when it concluded the approval process with the European Commission.

With this payment of EUR 500 million, the amount repaid to the Dutch government totals EUR 1.5 billion. The first EUR 1 billion was repaid on November 30, 2009.

The payment to the Dutch government yesterday amounts to EUR 563 million, of which

- EUR 500 million for repurchase of 125 million convertible core capital       securities,     - EUR 52 million or 10.3% premium, and     - EUR 11 million of accrued interest from May 25, 2010.

This repayment has been made from excess capital which has been upstreamed from AEGON's operating companies during the third quarter. The Dutch Central Bank has approved this repayment.

About AEGON

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 approximately 28,000 people and have some 40 million customers across the globe.

Second quarter    Full year     Key figures - EUR                 2010         2009     Underlying earnings     before tax                 522 million  1.2 billion     New life sales             590 million  2.1 billion     Gross deposits (excl.     run-off)                   7.6 billion   28 billion     Revenue generating     investments     (end of period)            409 billion  363 billion

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: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, 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;      - Lowering of one or more of our debt ratings issued by recognized rating       organizations and the adverse impact such action may have on our       ability to raise capital and on our liquidity and financial condition;      - Lowering of one or more of insurer financial strength ratings of our       insurance subsidiaries and the adverse impact such action may have on       the premium writings, policy retention, profitability of its insurance       subsidiaries and liquidity;      - The effect of the European Union's Solvency II requirements and other       regulations in other jurisdictions affecting the capital we are       required to maintain;      - 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;      - The impact of acquisitions and divestitures, restructurings, product       withdrawals and other unusual items, including our ability to integrate       acquisitions and to obtain the anticipated results and synergies from       acquisitions;      - 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 Euro next 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.

Contact information      Media relations: Greg Tucker     +31(0)70-344-8956     gcc-ir@aegon.com      Investor relations: Gerbrand Nijman     +31(0)70-344-8305     +877-548-9668 - toll free USA only     ir@aegon.com      http://www.aegon.com