The Principal Responds to Incorrect Reports of Lobbying Against Employee Free Choice Act

DES MOINES, Iowa--(BUSINESS WIRE)--Statement from The Principal Financial Group:

Contrary to incorrect reports issued today, The Principal Financial Group has not taken a position on the Employee Free Choice Act, nor do we plan to take such a position.

The Principal represents the interests of millions of employees and hard working Americans who participate in its employee benefit plans; as well as 35,000 employer clients, 42,000 retirement plan sponsors and its own 15,000 employees.

As an advocate and expert on long term financial security, The Principal remains focused on core issues in the best interests of clients, both business and union organizations, as well as individuals covered by its plans. We have been a frequent advocate on issues of critical importance to unions and the financial services industry, such as civil rights and pension plan funding.

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 $247.0 billion in assets under management² and serves some 19.1 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 www.principal.com.

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 December 31, 2008