Introducing the Spectrum Rewards Bonus Indexed Annuity

BALTIMORE, MD (October 28, 2003) — Fidelity and Guaranty Life Insurance Company (Fidelity and Guaranty Life) launches their latest indexed annuity Spectrum Rewards Bonus. Offering a 6.00%* up-front premium bonus on all first year premium and the choice of three S&P 500® index-linked crediting options, Spectrum Rewards Bonus provides much flexibility.

“Spectrum Rewards is the ideal product for today’s environment,” said Linda Hoitt, Vice President, Annuity Distribution. Explained Hoitt, “People want products that provide guarantees and choices while at the same time allowing them to participate in any upswing potential in the market.” Added Hoitt, “Spectrum Rewards does all of that and more.”

Spectrum Rewards Bonus also includes:

• Flexible premiums 
• 100% participation, subject to a monthly cap up to 5.15% per month. * 
• Index credit guaranteed never to be less than zero 
• Free partial withdrawals 
• Freedom to reallocate on annuity anniversary 
• 14-year surrender charge schedule 
• 10.00% Commission 0-79!

In addition to the three index-linked crediting options (annual, biennial or triennial monthly point-to-point), Spectrum Rewards Bonus also has a fixed option available.

Call 1-888-661-1999 for more information about Loyalty Rewards, Indexed Rewards or any other of F&G Life’s annuity or insurance products.

About The Annuity Shoppe Inc.  The Annuity Shoppe is a independent national marketing organization specializing in Fixed Annuity products. They focus on this one segment of the insurance marketplace to give their customers, Insurance Agents and Financial Planners, the best and most knowledgeable service. Their highly qualified staff has over 45 years combined experience in the annuity business.... allow their knowledge and experience to guide you through the sometimes tricky and confusing world of fixed annuities. We represent more than 20 of the most competitive annuity companies in the nation... we will always have the right product for your specific annuity case. 

Contact:
The Annuity Shoppe Inc
Tel:  888-661-1999 / [email protected] 
www.theannuityshoppe.com

About Fidelity and Guaranty Life Insurance Company
As the largest of the Old Mutual Financial Network brands, Fidelity and Guaranty Life Insurance Company (Fidelity and Guaranty Life) has been providing a diverse portfolio of annuities and life insurance products since 1959. Working with an established group of master general agents, our products are distributed in 49 states, the District of Columbia, and in New York through a wholly owned subsidiary, Fidelity and Guaranty Life of New York.

About Old Mutual Financial Network
Old Mutual Financial Network is a member of the Old Mutual plc group of companies. Founded in 1845, Old Mutual plc maintains its primary listing on the London Stock Exchange (LSE: OML). Old Mutual is ranked as a Fortune Global 500 company and FTSE 100 financial services group. Working through its network of established insurance companies (Fidelity and Guaranty Life, Americom Life and Annuity and Fidelity and Guaranty Life of New York) Old Mutual Financial Network is committed to delivering innovative and balanced financial solutions.

"Standard & Poor's®", "S&P®", "S&P 500®", "Standard & Poor's 500" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity & Guaranty Life Insurance Company. The Product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of purchasing the Product.

*As of 11/2/03 and subject to change.