Positioned to Win with Independent Broker/Dealers

Clifford JackPresident

Jackson National Life Distributors Inc.Chairman

National Planning Holdings

Shared Services

Operations Technology Training Marketing Facilities Finance Research

Efficient Operating Model

Marketing National Sales Development Product Development Conference and Travel Human Resources Compliance Legal

Operational Synergy * Marketing Effectiveness * Leveraged Relationships

JNLD, IMG, RBD & RIA NPH & RIA

Wholesale Distribution Retail Distribution

Jackson National LifeDistributors▲ Wholesale ▲ Variable Annuities, Fixed Annuities, Equity

Index Annuities, Life Insurance▲ 80 Wholesalers▲ 700+ Selling Agreements▲ 83,000 Appointed Producers▲ 24% Multi-product Producers▲ 8% Sell over $800k annually

Wholesale Sales Process

Selling Group Agreement

Broker/Dealer Conferences

Preferred Lists

Branch Access

Rep Access

First Sale

Multiple Sales

JNL Model

Limited ad spend

Limited conference spend

Limited broker/dealer support

No incentive trips

Roadshows

Focus on themes vs. product

Compliment travel with heavy phone work

Multiple monthly communications

Low-cost distribution

Summary

▲ Distribution revolves around five things:– Better people: trained or hired– Better information to make better decisions– Understanding and managing the

complexities/interrelationships– Access to successful reps– Speed

National Planning Holdings, Inc.

NPH’s Role in the JNL family

▲ Why we own a broker dealer▲ Who is NPH?▲ How we will succeed▲ Industry trends

NPH’s Role in the JNL family

▲ Benefits of owning NPH

National PlanningHoldings, Inc.

National Planning Corporation

SII Investments, Inc.Invest Financial

CorporationInvestment Centers

Of America

National Planning Holdings Organizational Chart

▲ One of the fastest growing firms in the business

▲ Doubled sales and value in 4 years

NPH Locations

National Planning Holdings Profile▲ $8 billion in sales▲ $279 million in revenue in 2001▲ Top 5 b/d networks in U.S. in 4th year of

existence▲ Half organic and half acquired▲ $2 billion in I.A. assets and growing by

50% per year

National Planning Holdings Retirement Market▲ 50% of current client assets in qualified

plans▲ Over $4 billion in retirement product

sales▲ Largest distributor of JNL retirement

products▲ Active use of proprietary retirement

planning software

National Planning Holdings Retirement Market▲ Largest distributor of JNL products ▲ NPH represents 17% of all JNLD VA

sales▲ Over $300 million of JNL annuities

year-to-date, 9/30/2002▲ JNL represents 18% of all annuities

sold at NPH

How Do We Compete?

▲ We give the reps more time ▲ We offer them an attractive

payout and ▲ We give them better technology

National Planning Holdings Solutions▲Backoffice tools

– Granite• Proprietary

commission and licensing system

• Transaction history

▲Frontoffice tools– 24/7 website

• Research• Trading• E-documents

– Consolidated client statements

– Electronic Order Entry– Electronic file cabinet

Where is the Industry Going?

▲ More efficiencies needed▲ Better support from technology▲ Increased emphasis on risk and

regulatory management