Global Businesses

• Brazil
• BrasilPrev Seguros e Previdência S.A.
  BrasilPrev is a joint venture company formed in 1999 between the Principal Financial Group and Banco do Brasil, the largest bank in Brazil. The company provides for the retirement needs of employers and individuals mainly with sales of defined contribution plans.
• Chile
• Principal Compañía de Seguros de Vida Chile, S.A.
  The Principal Financial Group entered the Chilean market in 1995 and offers a variety of financial products focusing primarily on the sale of annuities to individuals planning to withdraw funds from the compulsory privatized social security system (AFP). Principal Vida Chile also sells life and long-term savings products to individuals and growing businesses.
• Principal Creditos Hipotecarios, S.A.
  The Principal Financial Group acquired a majority interest in Andueza y Cia, Agentes de Mutuos Hipotecarios S.A., a Chilean residential mortgage operation in 1999. Under our joint venture, the company sells and services mortgage loans and investments in Chile.
• Principal Administradora General de Fondos, S.A.
  The Principal Financial Group acquired a majority interest in Tanner Administradora de Fondos Mutuos S.A., a Chilean mutual fund operation, in 2002. The company sells and services voluntary pension plans.
• Malaysia
• CIMB-Principal Asset Management Berhad
  The Principal Financial Group owns 40 percent of CIMB-Principal Asset Management Berhad. Our joint venture partner is the CIMB Group, Southeast Asia's largest investment banking group. CIMB-Principal Asset Management's team of dedicated investment professionals offers expertise in equities, fixed income, cash and Shariah-compliant fund management. One of the largest asset management companies in Malaysia, CIMB-Principal Asset Management manufactures and distributes a comprehensive range of mutual funds, and manages customized portfolio mandates for corporations and institutions.
• Mexico
• Principal AFORE, S.A. de C.V.
  Headquartered in Monterrey, Mexico-Principal AFORE is a private pension company that manages and administers individual employee retirement plans. In 1997, the Mexican government created a compulsory retirement system for employees called Administradoras de Fondos de Retiro, commonly known as AFORE. An AFORE is a pre-retirement accumulation company.
• Principal Mexico, Compañía de Seguros, S.A. de C.V.
  In 1993, the Principal Financial Group established operations in Mexico City. Principal Mexico offers Group life products, Voluntary Pension Plans and Private Annuities, as well as individual universal life products.

• Principal Pensiones, S.A. de C.V. Principal Pensiones was launched in July 1999. Principal Pensiones offers annuity products for death and disability payments to employees that participate in the social security system and will provide annuities to employees exiting the state-mandated AFORE retirement system.
• Australia
• Principal Global Investors (Australia), Ltd.
  Principal Global Investors, a member of the Principal Financial Group, is a diversified asset management organization with operations in the United States, Latin America, Europe, Asia and Australia. Globally we manage over $US90 billion in assets primarily for retirement plans and other institutional clients. Our investment capabilities encompass an extensive range of real estate, fixed income and equity investments as well as specialized overlay and advisory services. Principal Global Investors Australia gives local investors access to our extensive range of Australian and global investment management capabilities.
• China and Hong Kong
• Principal Insurance Company (Hong Kong), Ltd., Principal Trust Company (Asia), Ltd., Principal Asset Management Company (Asia), Ltd.
  The Principal Financial Group established an insurance company in Hong Kong SAR in 1996. The company mainly offers group pension products including retirement plan administration and asset management services to employers and employees under the Hong Kong compulsory Mandatory Provident Fund (MPF) Schemes and voluntary Occupational Retirement Scheme Ordinances Plans. It also provides group life and medical products.
• Principal Life Insurance Company - Beijing Representative Office
  In early 1995, the Principal Financial Group established a presence in the People's Republic of China. This office conducts research and market assessment on the potential private pension market for China.
• Principal Global Investors (Asia), Ltd.
  Principal Global Investors (Asia), Ltd. was originally incorporated in Hong Kong in 1991 and became known as Principal Global Investors (Asia), Ltd. in October 2002. Principal International (Asia), Ltd. acquired ownership in August 1999. Principal Global Investors (Asia), Ltd. distributes institutional and retail investment management products and provides client servicing for Hong Kong-based clients. Principal Global represents the investment management capabilities of the Des Moines, Iowa investment management teams (Invista, Principal Income Investors, and Principal Real Estate Investors).
• Principal Global Investors--Beijing Representative Office
  In early 2002, the Principal Financial Group opened its second representative office in the People's Republic of China. This office conducts research on potential opportunities related to asset management in China.
• Singapore
• Principal Global Investors (Singapore), Ltd.
  Principal Global Investors (Singapore), Ltd. distributes institutional and retail investment management products and provides client servicing for Singapore-based clients. Principal Global Investors (Singapore), Ltd. represents the investment management capabilities of the Des Moines, Iowa investment management teams (Invista, Principal Income Investors, and Principal Real Estate Investors).
• India
• Principal PNB Asset Management Company
  Principal PNB Asset Management Company sells long-term investment plans and mutual funds and distributes its products through Punjab National Bank (PNB) and Vijaya Bank, as well as via other financial service distributors, major private banks and the Indian Post Office. The Principal Financial Group first entered India in September 2000 through a joint venture with the Industrial Development Bank in India (IDBI). In 2003, The Principal purchased IDBI's 50 percent stake in IDBI-PRINCIPAL Asset Management Company Limited and entered into a joint venture with Punjab National Bank (PNB) and Vijaya Bank.
• UK & Europe
• Principal Global Investors (Europe), Ltd.
  Principal Global Investors (Europe) Ltd. offers European institutional investors access to the global investment capabilities of the Principal Financial Group through segregated mandates and a range of mutual funds. Based in London, the operation coordinates client service across the European region and acts as conduit for other services offered by the Principal Financial Group.