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NEWS RELEASE



Philadelphia, PA, April 30, 2008 – Lincoln Financial Group (NYSE:LNC) today announced
that the average shares for the first quarter of 2008 reported in the press release dated April 29,
2008, were incorrect. The corrected average diluted shares and basic shares for the quarter ended
March 31, 2008, were 262.8 million and 261.0 million, respectively. The effect on the per share
items previously reported is set forth below. This change does not impact any of the other
reported items in the first quarter of 2008.

                       LINCOLN NATIONAL CORPORATION
               CORRECTIONS TO AMOUNTS RELEASED ON APRIL 29, 2008
                          (in millions, except per share data)




                                                                 For the Three Months Ended
                                                                        March 31, 2008
                                                           Previously                    Increase
                                                           Reported        Corrected    (Decrease)
 Average common shares outstanding, basic                       258.1           261.0           2.9
 Average common shares outstanding, diluted                     259.9           262.8           2.9
 Net income per share, basic                             $       1.12     $      1.11  $      (0.01)
 Earnings per share, diluted:
   Income from operations                                $        1.28       $       1.27      $       (0.01)
   Income from continuing operations                              1.13               1.12              (0.01)
   Net income                                                     1.11               1.10              (0.01)

The company will issue an updated press release and statistical supplement and post them to the
web site, www.LincolnFinancial.com/investor, later today.


Definition of Income (Loss) from Operations - Income (loss) from operations, as used in the earnings release, are non-
GAAP financial measures and is not a substitute for net income (loss), calculated using GAAP measures. Income (loss)
from operations represents GAAP net income excluding, as applicable, realized gains and losses on investments and
derivatives, initial impact of the adoption of changes in accounting principles, reserve changes on business sold through
reinsurance, gains and losses on the sale of subsidiaries and blocks of businesses, losses on early retirement of debt and
income (loss) from discontinued operations.




                                                                                                                    1

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lincoln national prr1q08a

  • 1. NEWS RELEASE Philadelphia, PA, April 30, 2008 – Lincoln Financial Group (NYSE:LNC) today announced that the average shares for the first quarter of 2008 reported in the press release dated April 29, 2008, were incorrect. The corrected average diluted shares and basic shares for the quarter ended March 31, 2008, were 262.8 million and 261.0 million, respectively. The effect on the per share items previously reported is set forth below. This change does not impact any of the other reported items in the first quarter of 2008. LINCOLN NATIONAL CORPORATION CORRECTIONS TO AMOUNTS RELEASED ON APRIL 29, 2008 (in millions, except per share data) For the Three Months Ended March 31, 2008 Previously Increase Reported Corrected (Decrease) Average common shares outstanding, basic 258.1 261.0 2.9 Average common shares outstanding, diluted 259.9 262.8 2.9 Net income per share, basic $ 1.12 $ 1.11 $ (0.01) Earnings per share, diluted: Income from operations $ 1.28 $ 1.27 $ (0.01) Income from continuing operations 1.13 1.12 (0.01) Net income 1.11 1.10 (0.01) The company will issue an updated press release and statistical supplement and post them to the web site, www.LincolnFinancial.com/investor, later today. Definition of Income (Loss) from Operations - Income (loss) from operations, as used in the earnings release, are non- GAAP financial measures and is not a substitute for net income (loss), calculated using GAAP measures. Income (loss) from operations represents GAAP net income excluding, as applicable, realized gains and losses on investments and derivatives, initial impact of the adoption of changes in accounting principles, reserve changes on business sold through reinsurance, gains and losses on the sale of subsidiaries and blocks of businesses, losses on early retirement of debt and income (loss) from discontinued operations. 1