open quoteFrom time to time—not enough for me—financial products come out that actually fill a need...I'll start with a variable annuity called Monument Advisor issued by Jefferson National Life Insurance Co.
—Los Angeles Times

FOR IMMEDIATE RELEASE

RYDEX CONTACT:
Melinda Clore, PR Manager
800.258.4332 ext. 5394
mclore@rydexinvestments.com

INVIVA CONTACT:
Deborah Newman, Corporate Communications
212-220-5862
dnewman@inviva.com

RYDEX INVESTMENTS LAUNCHES THREE NEW FUNDS IN JEFFERSON NATIONAL'S MONUMENT ADVISOR ADDING MORE ALTERNATIVE STRATEGIES TO FIRST VARIABLE ANNUITY WITH FLAT INSURANCE FEE

One of the Lowest Cost VAs on the Market1 Helps Investors Diversify with Tradeable Funds, Expanded Asset Classes and Inverse Investments

Rockville, MD and New York, NY—October 26, 2005— - Well known for its alternative product lineup and strong commitment to the RIA marketplace, Rydex Investments has teamed up with Jefferson National to expand the tax-deferred investment options for fee-only advisors and the clients they serve by adding three more alternative strategy funds to Jefferson National’s Monument Advisor, the only variable annuity to charge a flat insurance fee of $20 per month, no matter how much clients invest2. One of the lowest cost VAs on the market, Monument Advisor charges no insurance M&E fee, no product surrender fee3 and no sales charge, and pays no commission.

With this latest addition, Rydex Investments and Jefferson National can help those who seek low cost tax deferral to gain access to a modern approach to portfolio management, combining core investment strategies with more active strategies4 in response to the flat results of the current equity market. Monument Advisor's expanded lineup of 48 Rydex funds includes funds designed for dynamic trading and alternative funds that seek to expand upon the traditional asset allocation menu with asset classes both positively and negatively correlated to the market, such as commodities, real estate, currency products, hedge funds and inverse investments. Like all Rydex funds, these three additions harness a proprietary approach to managing money that is grounded in intensive quantitative research while providing the liquidity, transparency and lower-cost benefits of mutual fund investing5:

  • Rydex Commodities Fund: Seeks long-term capital appreciation through 100% exposure to performance of the commodities index by investing in commodities-linked derivatives investments.
  • Rydex Strengthening Dollar Fund: Seeks to provide investment results that will match the performance of a specific benchmark on a daily basis, tending to increase in value with any increase in the underlying index.
  • Rydex Weakening Dollar Fund: Seeks to provide investment results that will match the performance of a specific benchmark on a daily basis, tending to increase in value with any decrease in the underlying index.

"As the challenging market environment causes investors to rethink the future prospects for stock and bond funds, there is growing interest in alternative investment strategies--designed to perform in a wide range of market conditions. Adding these latest Rydex funds to Jefferson National's Monument Advisor can help advisors diversify an investment portfolio within a VA that has a flat insurance fee of just $20 per month," said David Reilly, director of portfolio strategies, Rydex Investments. “Being committed to creating greater value for independent financial advisors and their clients, we have grounded our portfolio management in innovative thinking and intensive quantitative research."

"Jefferson National helps advisors to tailor strategies for their clients in response to business cycles and market events by combining the power of Rydex's alternate investments with the benefit of Monument Advisor's low-cost tax deferral for just $20 per month no matter how much clients invest," said Patrick D. Ferrer, National Sales Director, Jefferson National. "Why should clients pay asset-based insurance fees, high commissions or excessive surrender charges for the benefits of tax deferral? Why pay steep transaction fees as they adjust to the market’s cycles to meet their long term goals? Monument Advisor provides all this—and more—for a flat insurance fee of just $240 per year."

Monument Advisor offers advisors and their clients a total of more than 120 funds, one of the industry's widest selections of investment options available today, covering every style and category to accommodate the needs of both new and seasoned investors. During the accumulation period, transfers between funds are unlimited6, allowing investors to adjust their portfolio, tax free. As with all variable annuities, Monument Advisor passes along the investment charges of its underlying funds, which range from 0.26% to 2.54%, as well as fees of investment advisors.

About Rydex

Rydex Investments, the investment advisor to Rydex funds, continues to drive change in the financial industry by introducing investment products and services that challenge conventional thinking, empower investors and provide essential new options for uncertain market conditions. Rydex manages $13 billion in assets via more than 50 mutual funds, including two ETFs, as well as a registered fund of hedge funds. For more information, call 800.820.0888 or visit www.rydexinvestments.com.

About Jefferson National Life Insurance Company

Jefferson National Life Insurance Company (Jefferson National) is a wholly owned subsidiary of Inviva, Inc., a privately owned insurance holding company with two subsidiaries that are licensed to sell life insurance and annuities, with both fixed and variable authority, collectively in all 50 states.

Founded in 1937, Jefferson National is domiciled in Dallas, Texas with authority in 49 states and the District of Columbia. The Company’s patent-pending automated process has been designed expressly to meet the life insurance and annuity needs of consumers by streamlining every step of sales, application, issuance and administration. Its innovative products have helped hundreds of agents, broker-dealers, advisors and direct marketing partners to gain efficiencies and drive sales while providing greater customer value to more than 90,000 customers nationwide. Jefferson National has offices in New York, N.Y. and in Louisville, KY. To reach our sales desk, please call 1-866-667-0564. To learn more, please visit www.jeffnat.com.

Important Disclosure:

Variable annuities are subject to investment risk, including possible loss of the principal amount invested. Variable annuities are long-term investments to help you meet retirement and other long-range goals. Variable annuities are complex products, however, and are not suitable for everyone. They are not designed for meeting short-term goals because substantial taxes and insurance company charges may apply if you withdraw your money early. Withdrawal of tax-deferred accumulations may be subject to deferred sales charges and are subject to ordinary income tax. If owners who are less than age 59 ½ make withdrawals, those withdrawals may incur a 10% IRS tax penalty. Neither Jefferson National nor its representatives are qualified to give tax advice.

Please see current product and underlying investment portfolio prospectuses for more complete information about Jefferson National’s variable annuities and the underlying investment portfolios. Prospectuses may be obtained from Jefferson National by writing to us at the below address or from your registered representative. Consider the investment objectives, risks and charges and expenses of the underlying investment portfolios carefully before investing. Prospectuses contain this, and other information about the investment portfolios. Please read all prospectuses carefully before investing.

1For a $25,000 contract, Monument Advisor’s $20 per month insurance fee is lower than 86% of all variable annuity insurance charges. For a $100,000 contract, the $20 insurance fee is lower than all variable annuity insurance charges. Morningstar data as of 12/31/2004.

2Contributions in excess of $2 million are subject to Company approval.

3The IRS may charge 10% tax penalty on any withdrawal made before age 59 ½.

4See prospectus for limitations on transfers.

5Rydex Commodities Fund is subject to a number of risks and may not be suitable for all investors. The fund's exposure to the commodities market may subject the fund to greater volatility as commodity linked derivative investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates or factors affecting a particular industry or commodity. The fund's use of derivatives such as futures, options and swap agreements may expose the fund to additional risks that it would not be subject to if it invested directly in the securities underlying those derivatives. To the extent that the fund's investments are concentrated in energy-related commodities, the fund is subject to the risk that this sector will underperform the market as a whole. These risks may cause the fund to experience higher losses and/or volatility than a fund that is diversified, invests in traditional securities or that does not use derivatives. Also, the fund is subject to active trading risks that may increase volatility and impact the fund's ability to achieve its investment objective. Rydex Strengthening Dollar Fund and Rydex Weakening Dollar Fund are subject to a number of risks and may not be suitable for all investors. The funds’ use of derivatives such as futures, options and swap agreements may expose the funds to additional risks that they would not be subject to if they invested directly in the securities underlying those derivatives. The funds’ exposure to foreign currencies subjects the funds to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of short positions, that the U.S. dollar will decline in value relative to the currency being hedged. The more the funds invest in leveraged instruments, the more the leverage will magnify any gains or losses on those investments. These risks may cause the funds to experience higher losses and/or volatility than funds that do not invest in derivatives, use leverage or have exposure to foreign currencies. Also, the funds are subject to active trading and tracking error risks that may increase volatility, decrease performance and impact the funds’ ability to achieve its investment objective. See the prospectus for more details.

6 See prospectus for limitations on transfers.

Guarantees are based on the financial strength and claims-paying ability of the issuing company: Jefferson National Life Insurance Company. Annuities are not FDIC insured; they are not deposits, obligations of or guaranteed by the bank or any federal government agency; and they involve risk, including the possible loss of principal. Jefferson National variable annuities are issued by Jefferson National Life Insurance Company, with Administrative Offices at 9920 Corporate Campus Drive, Suite 1000, Louisville, KY 40223 and are offered by prospectus only. Jefferson National Securities Corporation is a member of the NASD and the principal underwriter of the variable annuities issued by Jefferson National.

This summary of product features is not intended to be all-inclusive. Restrictions will apply. The contracts have exclusions and limitations. The products may not be available in all states or at all times. Please see the product prospectuses for more information.

JNL2005CL30 1005

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An investor should carefully consider the investment objectives, risks, charges and expenses of the investment before investing or sending money. For a prospectus containing this and additional information, please contact your financial professional. Read it carefully before investing. The summary of product features is not intended to be all-inclusive. Restrictions may apply. The contracts have exclusions and limitations, and may not be available in all states or at all times.

Variable annuities are investments subject to market fluctuation and risk, including possible loss of principal. Your units, when you make a withdrawal or surrender, may be worth more or less than your original investment.

Variable annuities are long-term investments to help you meet retirement and other long-range goals. Withdrawal of tax-deferred accumulations are subject to ordinary income tax. Withdrawals made prior to age 59 ½ may incur a 10% IRS tax penalty. Jefferson National does not offer tax advice. Annuities are not deposits or obligations of, or guaranteed by any bank, nor are they FDIC insured.

Monument Advisor is issued by Jefferson National Life Insurance Company (Dallas, TX) and distributed by Jefferson National Securities Corporation, FINRA member. Policy series JNL-2300-1, JNL-2300-2.

Form #: jef-pr-20061207