Lincoln Financial Group Names Elizabeth Reeves as SVP, Corporate Human Resources, Successor to George Davis

PHILADELPHIA--(BUSINESS WIRE)--Jan. 4, 2005--

Davis' Previously Announced Retirement Effective March 2005

“He has made countless contributions to this organization, and has served with distinction as an ethical compass in managing our most valuable asset, our employees.”

Lincoln Financial Group (NYSE:LNC) today finalized the succession plan for the previously announced retirement of George E. Davis, senior vice president and director, Corporate Human Resources. Elizabeth L. Reeves, Senior Vice President of Human Resources for Servicemaster of Chicago, IL, is appointed senior vice president, Corporate Human Resources, Lincoln Financial Group, effective January 31, 2005, reporting to Jon A. Boscia, chairman and chief executive officer, Lincoln Financial Group.

"George has been a strong, steadfast and effective leader of our corporate human resources efforts," said Boscia. "He has made countless contributions to this organization, and has served with distinction as an ethical compass in managing our most valuable asset, our employees." Davis has served as senior vice president and director, Corporate Human Resources, Lincoln Financial Group, for the past 12 years. Prior to coming to Lincoln, Davis served for 28 years with Eastman Kodak. His retirement is effective March 31, 2005, affording ample time for a seamless transition.

"We are delighted to welcome Beth Reeves to our team," said Boscia. "Her experience in directing the human resources function for several leading service organizations, along with her energetic and innovative management style, make her the ideal candidate for stepping into this role." Reeves previously lead the human resources function at Servicemaster, a leading services company with more than 45,000 employees. Her prior experiences include positions with BCOM 3 Group, CNA Financial, and General Electric.

Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in Philadelphia, Lincoln Financial Group had consolidated assets of $110 billion as of Sept. 30, 2004, and had annual consolidated revenues of $5.3 billion in 2003. Through its wealth accumulation and protection businesses, the company provides annuities, life insurance, 401(k) and 403(b) plans, 529 college savings plans, mutual funds, managed accounts, institutional investment and financial planning and advisory services.