Jefferson National’s Monument Advisor one of First VAs to Add ALPS’ Listed Private Equity Portfolio and ALPS’ Ibbotson ETF Asset Allocation Portfolios

Business Editors

NEW YORK and LOUISVILLE, Ky.--(BUSINESS WIRE)--June 25, 2008--Jefferson National’s Monument Advisor, the first flat-insurance fee variable annuity with the industry’s largest supermarket of more than 200 tax-deferred funds, is now one of the first VAs to offer the new ALPS Variable Series Listed Private Equity Portfolio and ALPS’ Ibbotson ETF AllocationSeries, further expanding with more unique solutionsto help fee-based advisors and their clients diversify retirement savings and manage risk in this challenging market.

“As one of the first variable annuities partnering with ALPS to offer the truly innovative Listed Private Equity Portfolio, we give fee-based advisors and their clients access to an important asset class that effectively has been available only to institutional investors,” said Laurence Greenberg, President and CEO of Jefferson National. “Likewise, by choosing ALPS’ Ibbotson ETF Asset AllocationPortfolios as the only model portfolios on our tax-deferred investment platform, we offer advisors and clients a highly efficient alternative for diversification while managing to their unique risk profile to help produce more predictable returns in a wide range of market conditions.”

“We’re thrilled to be working with Jefferson National, and are excited about the synergies made possible in this relationship,” according to Corey Dillon, Director of Institutional Advisory Services for Denver-based ALPS. “Both of our firms are squarely focused on delivering truly innovative solutions to meet the needs of our investors in an ever-changing market.”

The recently launched ALPS Variable Series Listed Private Equity Portfolio as well as the Ibbotson ETF AllocationSeries are advised by ALPS Advisers, Inc. Red Rocks Capital LLC, a Denver-based investment adviser that specializes in creating products which invest in private equity, serves as sub-adviser of the ALPS Variable Series Listed Private Equity Portfolio. Ibbotson Associates, a leading authority on asset allocation, serves as sub-adviser for the five risk-based portfolios including the Conservative ETF Asset Allocation Portfolio, Income & Growth ETF Asset Allocation Portfolio, Balanced ETF Asset Allocation Portfolio, Growth ETF Asset Allocation Portfolio and the Aggressive Growth ETF Asset Allocation Portfolio.

Monument Advisor’s tax-deferred investment platform offers 4 times more funds than the typical VA 1, including top performing bond funds from Loomis Sayles and PIMCO, ultra low-cost funds from Nationwide and Vanguard, hard assets, REITs, inverse funds, market neutral funds, and a suite of Rydex funds designed for dynamic trading. During the accumulation period, transfers between funds are unlimited 2, allowing investors to adjust their portfolio, tax free.

With a flat-insurance fee of $20 per month 3 no matter how much clients invest 4, Jefferson National’s Monument Advisor is the market’s absolute lowest cost for a VA of $96,000 or more. 5 With total sales topping $400 million as of May 31, 2008, Jefferson National’s Monument Advisor is uniquely positioned to serve the growing market of fee-based and fee-only advisors, a segment which has increased more than 41% in four years to reach $2.2 trillion in assets under management as of 2006. 6

About Jefferson National Life Insurance Company

Jefferson National Life Insurance Company offers retirement products for fee-based advisors and the clients they serve. Jefferson National believes that simple, low-cost variable annuities should be considered for a part of every American's retirement portfolio, and we've made it our mission to help all Americans save more for retirement by launching Monument Advisor, the first variable annuity with a flat insurance fee. Jefferson National serves more than 60,000 customers nationwide, and is domiciled in Dallas, Texas with authority in 49 states and the District of Columbia. To reach our advisor support desk, please call 1-866-WHY-FLAT (1-866-949-3528). To learn more, please visit www.jeffnat.com.

About ALPS Holdings, Inc. ™

ALPS Holdings, Inc. is a Denver-based outsourcing solution for administration, compliance, creative services, fund accounting, legal, marketing, tax administration, transfer agency and shareholder services for open-end, closed-end, alternative investment and exchange-traded funds. ALPS has approximately $38 billion in client investment fund assets under administration.

ALPS Distributors, Inc. provides distribution services to over $240 billion in client assets. For more information, visit www.alpsinc.com.

ALPS is a registered trademark or trademark of ALPS Fund Services, Inc. ™ in the United States and other countries. All other brand names, product names or trademarks belong to their respective holders.

Shares of the Portfolios are offered only to participating insurance companies and their separate accounts to fund the benefits of Variable Contracts, and to qualified pension and retirement plans and registered and unregistered separate accounts.

The AVS Listed Private Equity Portfolio and the Ibbotson ETF Asset Allocation Portfolios are distributed by ALPS Distributors, Inc.

Important Disclosure:

An investor should carefully consider the investment objectives, risks, charges and expenses of the investment before investing or sending money.For a prospectus containing this and additional information, please contact your financial professional.Read it carefully before investing. The summary of product features is not intended to be all-inclusive.Restrictions may apply.The contracts have exclusions and limitations, and may not be available in all states or at all times.

Variable annuities are investments subject to market fluctuation and risk, including possible loss of principal. Your units, when you make a withdrawal or surrender, may be worth more or less than your original investment.

Variable annuities are long-term investments to help you meet retirement and other long-range goals. Withdrawal of tax-deferred accumulations are subject to ordinary income tax. Withdrawals made prior to age 59 ½ may incur a 10% IRS tax penalty. Jefferson National does not offer tax advice. Annuities are not deposits or obligations of, or guaranteed by any bank, nor are they FDIC insured.

Monument Advisor is issued by Jefferson National Life Insurance Company (Dallas, TX) and distributed by Jefferson National Securities Corporation, FINRA member. Policy series JNL-2300-1, JNL-2300-2.

1 The average variable annuity has 38 underlying fund options according to Morningstar data as of 12/31/07.

2 See prospectus for limitations on transfers.

3 Jefferson National's Monument Advisor has a $20 flat insurance fee on more than 97% of our underlying funds. Certain funds also have a transaction fee ranging from $19.99 to $49.99 per transaction, depending on the number of transactions per year. See the prospectus for details. Like other variable annuities, the customer pays fees of the underlying funds selected plus the fees of any advisor hired.

4 Contributions in excess of $10 million are subject to Company approval.

5 Morningstar data as of 12/31/07.

6 Cerulli “Quantitative Update: Intermediary Markets,” 2006.