Accordingly, under normal circumstances the voting power of Vereniging AEGON, based on the number of outstanding and voting shares (excluding issued common shares held in treasury by AEGON N.V.) at December 31, 2003, amounts to approximately 23%. In the event of a ’special cause’, Vereniging AEGON’s voting rights will increase to currently 32.60% for up to six months per ’special cause’. 

At December 31, 2003 the General Meeting of Members of Vereniging AEGON consisted of 21 members. The majority of the voting rights is with nineteen of the members not being employees or former employees of AEGON N.V. or one of the AEGON group companies, nor current or former members of the Supervisory Board or the Executive Board of AEGON N.V. The two other members are both elected by the General Meeting of Members from among the members of the Executive Board of AEGON N.V. 

Vereniging AEGON has an Executive Committee consisting of seven members, five of whom, including the chairman and the vice- chairman, are not nor have ever been, related to the AEGON group. The other two members are also member of the Executive Board of AEGON N.V. When a vote in the Executive Committee results in a tie, the General Meeting of Members has the deciding vote. 

The annual report 2003 of Vereniging AEGON and further information may be obtained through the Secretary (telephone: +31 70 3448288, e-mail: Secretariaat@VerenigingAEGON.nl, fax: +31 70 3477929). 

## OTHER MAJOR SHAREHOLDERS 

Based on Schedule 13G as amended February 13, 2004, filed with the SEC by Capital Group International, Inc. on behalf of itself and certain of its wholly-owned subsidiaries (Capital International Limited, Capital International S.A., Capital International Research and Management, Inc. dba Capital International, Inc., and Capital Guardian Trust Company), Capital Group International may be deemed to be the beneficial owner of 142,329,520, or approximately 9.4%, of AEGON’s outstanding common shares at December 31, 2003, as a result of its being the parent holding company of a group of investment management companies that hold investment power and, in some cases, voting power over these common shares. The Schedule 13G further reports that Capital Group International, Inc. does not itself have investment power or voting power over these common shares. The Schedule 13G also reports that Capital Guardian Trust Company is deemed to be the beneficial owner of 89,172,310, or approximately 5.9%, of AEGON’s outstanding common shares at December 31, 2003, as a result of its serving as the investment manager of various institutional accounts. Both Capital Group International, Inc. and Capital Guardian Trust Company disclaimed beneficial ownership of the common shares in the Schedule 13G pursuant to Rule 13d-4 under the Securities Exchange Act of 1934. 

