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Investment Type: separateaccount

Equity Income Separate Account-Pro

Quick Facts Inception Date: 06/30/2009 Extended Performance Inception Date: 05/31/1939 Morningstar Category: Large Value Total Net Assets (mil): $2,173.92	Investment Strategy    What's this? The investment seeks to provide a relatively high level of current income and long-term growth of income and capital. The fund invests primarily at least 80% of net assets (plus any borrowings for investment purposes) in dividend-paying common stocks and preferred stocks. It may invest in fixed-income securities of any maturity, including mortgage-backed securities, U.S. government securities, and asset-backed securities. The fund may also invest up to 20% of assets in below-investment-grade fixed-income securities.
Morningstar Style Box™   as of 07/31/2010 What's this?	Overall Morningstar Star Rating™   as of 08/31/2010 What's this? Out of 1124 Large Value Funds Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.

Total Returns

Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed, may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.

In situations where the net and gross total investment expense figures are different, the mutual fund or the underlying fund in which a Separate Account invests has waived/capped a portion of its management fees through the date displayed in the waiver expiration date or contractual cap expiration date column. Differences may also be shown due to the fund family choosing to pay certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.

Month-End | Quarter-End

Average Annual Total Returns as of 08/31/2010

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Total Return % -2.17 1.55 -0.01 8.70 -8.47 -1.00 4.22 6.70 Russell 1000 Value Index % -4.28 -3.55 -3.03 4.96 -10.61 -1.69 1.92 --- Large Value Category % -4.51 -3.32 -4.89 3.19 -9.95 -1.65 1.66 --- Morningstar Percentile Ranking** --- --- --- 7 28 35 10 --- # of Funds in Category 1318 1306 1278 1265 1124 943 488 ---

* Inception Date: 06/30/2009 ; Extended Performance Inception Date: 05/31/1939

**Morningstar percentile rankings are based on total returns.

Expenses

  as of 08/31/2010

Total Investment Expense - Gross:	2.04%
Total Investment Expense - Net:	2.04%

Growth of $10,000

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Investment Subadvisors

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Edge Asset Management, Inc.

Portfolio Managers

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David W. Simpson , CFA Since 03/31/2008 B.S. , University of Illinois

Daniel R. Coleman Since 05/19/2010 M.B.A. , New York University

© 2010 Morningstar, Inc. All Rights Reserved. Part of the mutual fund data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Returns shown for periods of less than one year are not annualized. Separate Accounts are available through a group annuity contract with the Principal Life Insurance Company. Insurance products and plan administrative services are provided by Principal Life Insurance Company a member of the Principal Financial Group, Des Moines, IA 50392. Certain investment options may not be available in all states or U.S. commonwealths. The full name of this investment option is Principal Equity Income Separate Account-Pro. Not FDIC Insured May Lose Value - Not a Deposit - No Bank Guarantee Not Insured by any Federal Government Agency

Russell 1000 Value Index is a market-capitalization weighted index of those firms in the Russell 1000 with lower price-to-book ratios and lower forecasted growth values. This Separate Account invests solely in the Institutional class shares of the Principal Funds. All voting rights associated with ownership of shares in the mutual fund are the rights of the Separate Account, not of contract holders investing in the Separate Account. For further information on the underlying mutual fund, see the prospectus of the fund. These calculated returns reflect the historical performance of the oldest share class of the fund, adjusted to reflect a portion of the fees and expenses of this share class. Please see the fund's prospectus for more information on specific expenses, and the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class.