Nationwide announces consent solicitation for 6.75% Fixed-to-Floating Rate Junior Subordinated Notes due 2037

 

FOR IMMEDIATE RELEASE
March 29, 2010

Contact:
Joe Case 614-249-6353
casej6@nationwide.com

Columbus, Ohio — Nationwide Financial Services, Inc. (NFS) today announced a solicitation of consents to amend the terms of the reporting covenants of the indenture governing its 6.75% Fixed-to-Floating Rate Junior Subordinated Notes due 2037. This solicitation is being conducted as a result of the January 1, 2009 acquisition of all of NFS’s publicly held common shares by Nationwide Mutual Insurance Company.

The purpose of the consent solicitation, as described in the Consent Solicitation Statement dated March 29, 2010 (the Consent Solicitation Statement), is to amend provisions in the indenture requiring NFS to file reports with the Securities and Exchange Commission which are no longer required as a result of the consummation of the acquisition.

Only holders of record on March 26, 2010, or duly authorized agents of such holders, are entitled to deliver consent. The consent solicitation will expire on April 9, 2010 at 5:00 p.m. New York City time, unless extended.

For a complete statement of the terms and conditions of the consent solicitation and the proposed covenant amendment, holders of the notes should refer to the Consent Solicitation Statement, which is being sent to all holders of record as of March 26, 2010.

NFS has retained Morgan Stanley & Co. Incorporated as its solicitation agent, and retained D.F. King & Co., Inc. to act as its information and tabulation agent. Questions from holders regarding the consent solicitation should be directed to the information and tabulation agent, D.F. King & Co., at 48 Wall Street, New York, New York, 10005 (Attention: Elton Bagley) or by calling (212) 269-5550 (bankers and brokers) or (800) 758-5880 (toll free) or to the solicitation agent, Morgan Stanley, at 1585 Broadway, New York, New York, 10036 or by calling (212) 761-5384 (collect) or (800) 624-1808 (toll free).

Media calls only should be directed to Joe Case, Nationwide Media Relations at (614)249-6353.

This press release is not a solicitation of consent with respect to the notes. The consent solicitation is being made solely by the Consent Solicitation Statement and related documents which set forth the complete terms of the consent solicitation.

About Nationwide
Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by A.M. Best. The company provides a full range of personalized insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services. For more information, visit www.nationwide.com.

_{Nationwide, the Nationwide frame mark, and On Your Side are service marks of Nationwide Mutual Insurance Company.}