Nationwide Financial Hosts Investment Community Conference

March 27, 2007; 01:12 AM
Nationwide Financial Services, Inc., a leading provider of long-term savings and retirement products, is hosting an investment community conference at the Jumeirah Essex House in New York City Tuesday, March 27, from 8 a.m. to 2 p.m. Eastern time. Members of senior management will be discussing the company’s business strategy, outlook and financial targets.

During the conference, management is expected to provide details of its strategic plan to improve the company’s growth prospects and ability to achieve long-term growth targets. These targets include annual low- to mid-teen sales growth, mid- to high-single-digit revenue growth, operating earnings per share (EPS) growth of more than 10 percent and return on equity (ROE) of at least 13 percent by 2009. Management emphasized that these are longer-term targets, and that in any given year, actual performance might be more or less than the target ranges.

To achieve these targets, management plans to continue its focus on strengthening core businesses, investing in and developing new higher growth and return businesses such as banking and retail mutual funds. Additionally, management plans to outline its capital management strategy, which focuses on improving capital efficiency. To facilitate efforts to move toward a targeted capital structure, management is currently considering refinancing $300 million of senior debt.

Nationwide Financial also announced that, as previously disclosed in its annual report on Form 10-K, its Board of Directors recently approved a new share repurchase authorization. The program authorizes Nationwide Financial to repurchase, from time to time, up to $450 million in shares of its common stock in the open market, in block trades or otherwise, and through privately negotiated transactions. Such repurchases are to be made in compliance with all applicable laws and regulations, including the United States Securities and Exchange Commission rules. The program may be superseded or discontinued at any time. Nationwide Financial's management will determine the timing, financing and amount of any repurchases based upon its evaluation of market conditions, share price and other factors.

Webcast of Investment Community Meeting

A simultaneous webcast of the conference is available on the investor relations section of www.nationwide.com. Presentation materials are also available for downloading and viewing. An audio archive of the conference will also be available on the website until at least April 30, 2007.

About Nationwide Financial

Nationwide Financial Services, Inc. (NYSE:NFS), a publicly traded company based in Columbus, Ohio, provides a variety of financial services that help consumers invest¹ and protect their long-term assets, and offers retirement plans and services through both public- and private-sector employers.

It’s part of the Nationwide group of companies, which offers diversified insurance and financial services. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 98 on the Fortune 100 based on 2005 revenue.² To obtain investor materials, including the Company’s 2005 Annual Report to Shareholders, 2005 Annual Report on Form 10-K, quarterly statistical supplements and other corporate announcements, please visit the investor relations section of the Company’s Web site at www.nationwide.com.

¹ Nationwide Investment Services Corporation, member NASD. In MI only: Nationwide Investment Svcs. Corporation.

² Fortune Magazine, April 2006.