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nationwide 3Q08 Sub-Prime/Alt-A Disclosure

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  • 1. Nationwide Financial Services Sub-prime and Alt-A Disclosure As of September 30, 2008 Recent market events have led to requests for more specific information concerning securities containing Sub- prime and Alt-A collateral. In support of the company’s commitment to transparency, the following table discloses NFS’ exposure to Sub-prime and Alt-A collateral. Additional information concerning the company’s investment activity can be found in the company’s quarterly report on Form 10-Q, which is available on the investor relations section of the company’s web site at www.nationwide.com (upon filing). The Company’s investments in securities that contain Alt-A and Sub-prime collateral are predominantly highly rated. As of September 30, 2008, 91% and 86% of securities containing Alt-A and Sub-prime collateral, respectively, were rated AA or better. In addition, 63% and 74% of Alt-A and Sub-prime collateral, respectively, was originated in 2005 or earlier. The following tables summarize the distribution by collateral classification, rating and origination year, respectively, of the Company’s general account mortgage-backed and asset-backed securities as of September 30, 2008: % of estimated Estimated fair value (dollars in millions) fair value total Government agency $ 4,140.7 40.1 Prime 1,262.2 12.2 Alt-A 1,742.9 16.9 Sub-prime 631.2 6.1 Non-residential mortgage collateral 2,547.9 24.7 Total $ 10,324.9 100.0 Alt-A Sub-prime %of %of estimated estimated Estimated fair value Estim ated fair value (dollars in millions) fair value total fair value total AAA $ 1,451.4 83.3 $ 391.2 62.0 133.6 7.7 151.4 24.0 AA A 61.1 3.5 50.2 7.9 57.9 3.3 11.7 1.9 BBB BB and below 38.9 2.2 26.7 4.2 $ 1,742.9 100.0 $ 631.2 100.0 Total Alt-A Sub-prime %of %of estimated estimated Estimated fair value Estim ated fair value (dollars in millions) fair value total fair value total Pre-2005 $ 511.0 29.3 $ 387.1 61.3 589.3 33.8 78.2 12.4 2005 2006 357.0 20.5 145.2 23.0 285.6 16.4 20.7 3.3 2007 $ 1,742.9 100.0 $ 631.2 100.0 Total

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