Principal Financial Group, Inc. Announces Common Stock Offering


DES MOINES, Iowa--(BUSINESS WIRE)--May. 11, 2009-- Principal Financial Group, Inc.(NYSE:PFG) announced today a proposed offering of 42,250,000 shares of common stock to the public. The net proceeds from the offering will be used for general corporate purposes.

The underwriters will have a 30-day option to purchase 6,337,500 shares representing an additional 15 percent of the offering amount from The Principal to cover overallotments, if any.

Merrill Lynch & Co. is the sole book-running manager for the offering.

The shares are being offered pursuant to the company’s effective shelf registration statement on file with the Securities and Exchange Commission. The proposed offering will be made only by means of a prospectus and related prospectus supplement. Copies of the prospectus and prospectus supplement for the offering may be obtained from Merrill Lynch & Co. 4 World Financial Center, New York, New York 10080, telephone: 212-449-1000.

This press release is neither an offer to sell, nor a solicitation of an offer to buy, nor shall there be any sale of shares of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Forward looking and cautionary statements

This press release may contain forward-looking statements, including, without limitation, statements as to sales targets, sales and earnings trends, and management's beliefs, expectations, goals and opinions. The company does not undertake to update these statements, which are based on a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Future events and their effects on the company may not be those anticipated, and actual results may differ materially from the results anticipated in these forward-looking statements. The risks, uncertainties and factors that could cause or contribute to such material differences are discussed in the company's annual report on Form 10-K for the year ended December 31, 2008 and quarterly report on Form 10-Q for the quarter ended March 31, 2009, each filed by the company with the Securities and Exchange Commission. These risks and uncertainties include, without limitation: competitive factors; volatility of financial markets; decrease in ratings; interest rate changes; inability to attract and retain sales representatives; international business risks; foreign currency exchange rate fluctuations; a pandemic, terrorist attack or other catastrophic event; default of the company’s re-insurers; and investment portfolio risks.

About the Principal Financial Group

The Principal Financial Group® (The Principal®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $236.6 billion in assets under management2 and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit

1 "The Principal Financial Group" and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

2 As of March 31, 2009


Source: Principal Financial Group, Inc.

Principal Financial Group, Inc.
Susan Houser, 515-248-2268 (w) or 515-240-7558 (c)
Eva Quinn, 515-247-7468 (w) or 515-778-2786 (c)
Tom Graf, 515-235-9500