Exhibit 99.1

The Hague, March 6, 2008

BUSINESSES DELIVER SOLID UNDERLYING GROWTH AND

NO MATERIAL IMPAIRMENTS TO AEGON'S INVESTMENTS IN 2007

For notes see page 27

* 2007 is compared to pro forma data for 2006. These figures are presented after the change in accounting principles and after the change in definition of operating earnings to include AEGON’s share in net results of associates and exclude the effect of any movements in the fair value of guarantees, as would have been the case had AEGON The Netherlands’ hedge program been in place for those two years. Net income is, however, only affected by the change in the accounting principles. See also Table Financial Overview on page 3 and AEGON’s press release of July 24, 2007. See also page 39 of this press release for more details.

2008030601

CHAIRMAN’S OVERVIEW

During 2007, AEGON’s businesses delivered solid performance, as demonstrated by increased sales, deposits and growth in underlying operating earnings.

AEGON continues to maintain its strong financial position. Despite the turbulence currently underway in world financial markets, we experienced no material impairments to AEGON’s investment portfolio during the year, nor did we have any impairments related to our subprime mortgage-backed securities during the year. AEGON’s subprime portfolio, totaling EUR 2.9 billion, continues to be high quality with over 99% rated double- and triple-A.

Net operating earnings for the year were stable at constant currency exchange rates and net underlying earnings were up 9% by the same measure, a reflection of solid business performance. Net income in 2007 declined mainly as a result of lower non-operating earnings in the Netherlands. Revenue generating investments increased 2% or 11% at constant currency exchange rates, reflecting the continued growth of our existing business, in addition to the acquisition of the Merrill Lynch life companies last December.

The better-than-expected progress our businesses made in the Americas, Europe and Asia toward AEGON’s 2010 value of new business target led us to increase the target by 14% to EUR 1.25 billion. This fourth consecutive year of VNB growth resulted in a record EUR 927 million in 2007.

The completion of a EUR 1 billion share repurchase plan in November and the 13% increase in AEGON’s full year dividend to EUR 0.62 per common share are evidence of our continued strong cash flows and solid capital position. At the same time, we continue to have sufficient capital to support the organic growth of our businesses while pursuing acquisition opportunities that are consistent with our pricing discipline.

We further strengthened AEGON’s distribution network with our new partnership with Barclays in the United Kingdom; an agreement with one of Taiwan’s leading banks, Taishin; an asset management joint venture with China’s Industrial Securities; and a fourth regional bank partnership in Spain with Caja Cantabria. AEGON’s partnership with Merrill Lynch will serve to enhance AEGON’s position as a leading provider of life insurance and variable annuity products in the United States.

I am very grateful to the Supervisory Board for having had the opportunity to lead AEGON as Chairman these past several years. Along with my Executive Board and Management Board colleagues, we have focused on improving AEGON’s solid balance sheet, enhancing the Group’s distribution strength, expanding AEGON’s global footprint, and positioning our businesses to capture continued growth in both our established and developing markets. I also wish to thank our many distribution partners and our 30,000 employees whose dedication and commitment justifies the trust of our customers in helping them create better futures for themselves and their families.

Finally, I welcome the selection of Alex Wynaendts to lead AEGON into its next phase of growth during what will continue to be an exciting time for the life insurance and pensions business internationally.

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FOURTH QUARTER 2007 GROUP HIGHLIGHTS

Net operating earnings

AEGON’s net operating earnings declined by 32% (or 27% on a constant currency basis) in the fourth quarter of 2007 to EUR 484 million, compared with pro forma earnings of EUR 710 million over the same period of 2006. The decline was due in part to a lower contribution from fair value items like certain investment classes in the Americas and the Netherlands. In addition fourth quarter 2006 net operating earnings included a significant one-off tax item in both the Netherlands and the United Kingdom. As a result, the effective tax rate for the Group as a whole increased to 23.9% in the fourth quarter, up from 7.7% for the final three months of 2006.

Operating earnings before tax

AEGON’s operating earnings before tax decreased by 17% in the fourth quarter (or 11% on a constant currency basis) to EUR 636 million, compared with a pro forma figure of EUR 769 million over the same period in the previous year. In the fourth quarter of 2006, fair value investments strongly outperformed their long-term expected returns. These items include certain investment classes in the Netherlands and in the Americas, as well as certain products containing guarantees, all carried at fair value. Earnings on these fair value items were EUR 188 million lower in the fourth quarter of 2007. In the last quarter of 2007, the impact of lower fair value items and currency movements on AEGON’s earnings more than offset the beneficial effects of the business growth.

In the Americas, fourth quarter operating earnings before tax declined by 5% to USD 730 million (or, in euro terms, by 15% to EUR 506 million). Earnings in the last quarter of both 2006 and 2007 reflect strong outperformance of certain fair value investments, such as hedge funds. This year, however, the outperformance was largely offset by reduced earnings from total return annuities and segregated funds, as well as lower market values for synthetic CDOs and increased guarantee costs in the variable annuity business. Fair value items’ total contribution declined by USD 180 million in the fourth quarter of 2007 compared to the same quarter the previous year. Almost all lines of business contributed to an underlying growth in earnings in the fourth quarter. Earnings were also positively impacted by an update of mortality assumptions (USD 52 million) and reserve adjustments in Canada (USD 43 million), partly offset by reserve strengthening in the reinsurance business (USD 25 million).

Operating earnings before tax in the Netherlands totaled EUR 75 million in the fourth quarter of 2007, compared with pro forma operating earnings of EUR 125 million over the same period of 2006. The decline in operating earnings was primarily the result of a lower contribution from fair value investments.

In the United Kingdom, operating earnings before tax rose 18% in the fourth quarter to GBP 47 million. The increase in earnings was a result of the transfer of a block of in-force annuities, as well as positive earnings from new business and higher fund related charges. Earnings from AEGON’s UK distribution businesses in the fourth quarter included one-off charges totaling GBP 10 million to cover incentive payments and a strengthening of provisions.

AEGON’s Other countries segment reported operating earnings before tax of EUR 22 million in the fourth quarter, a decrease of EUR 4 million compared with the final three months of 2006. Higher operating earnings from AEGON’s businesses in Central and Eastern Europe, Spain and China were offset by lower results from both Taiwan and AEGON’s 35% stake in La Mondiale Participations.

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Net underlying earnings

AEGON’s net underlying earnings declined 15% (or 10% at constant currency) in the fourth quarter to EUR 516 million, due to an increase in the Group’s effective tax rate. The effective tax rate rose to 22.6% in the final quarter of 2007, up from just 1.1% a year earlier. This increase was the result of the inclusion of one-off tax items in both the Netherlands and the United Kingdom in 2006. Underlying earnings before tax were up 9% in the fourth quarter (or 16% at constant currency), confirming the current solid underlying growth trend in AEGON’s main businesses.

Net income

Net income fell 26% to EUR 648 million in the fourth quarter of 2007, mainly as a result of lower net operating earnings.

AEGON’s fourth quarter 2007 net income includes net gains on investments of EUR 167 million. Gains from the sale of both fixed income and equity investments totaled EUR 287 million, primarily the result of a decision to sell a significant part of the Group’s equity holdings in the Netherlands and the Americas. These gains were partly offset by a EUR 114 million charge relating to fair value movements in guarantees (net of hedging) in the Netherlands. Most of this amount stems from increased equity market volatility. The implementation of hedges of interest rate risks associated with guarantees in the Netherlands has been successfully completed in 2006.

Net impairments on investments in the fourth quarter of 2007 totaled EUR 17 million for the Group, compared to net recoveries of EUR 23 million last year. The fourth quarter also includes EUR 82 million of releases of deferred tax provisions in AEGON N.V.

Sales

Overall new life sales declined by 8% in the fourth quarter of 2007 to EUR 800 million, a reflection mainly of lower sales in the United Kingdom and Spain, and the impact of a weaker US dollar on sales in the Americas.

In the Americas, new life sales in the fourth quarter totaled USD 362 million, in line with last year’s sales, which included USD 50 million from an assumed block of retail credit life insurance. Total new life sales in the Netherlands increased 7% to EUR 72 million as a result of higher group pension sales, in the institutional channel in particular, as well as higher immediate annuity sales. Total new life sales in the United Kingdom declined by 4% to GBP 276 million in the fourth quarter, due to lower sales of pensions. Pension sales in the United Kingdom for the comparable period of 2006 had been exceptionally strong following Pension A-Day. New life sales from Other countries amounted to EUR 88 million, a decline due to lower sales in Spain, offset partially by increases in Central and Eastern Europe and higher sales of unit-linked products in Taiwan.

Total gross deposits for the Group decreased by 21% compared with the fourth quarter of 2006, due in part to movements in exchange rates. In the Americas, pension deposits rose 43% while deposits of both fixed and variable annuities and mutual funds were up 31%. However, total gross deposits in the Americas declined overall because of lower sales of institutional guaranteed products. In the fourth quarter of 2006, deposits were exceptionally high driven by USD 6.5 billion in synthetic GIC sales. Net deposits in the Americas improved mainly because of higher net deposits in pension and asset management products, as well as lower outflows in fixed annuities.

Deposits of pensions and asset management products, as well as retail mutual funds, in Central and Eastern Europe showed continued strong growth in the fourth quarter. In the United Kingdom, sales of both retail and institutional asset management products increased, as did savings deposits in the Netherlands.

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Revenue generating investments

At the end of December 2007, total revenue generating investments stood at EUR 371 billion, up from EUR 363 billion at the end of 2006. AEGON's total revenue generating investments increased by 11% on a constant currency basis, reflecting net growth in the Group’s inforce portfolio (for both deposits and premium business), as well as an improved market performance and the inclusion of USD 15 billion from the life insurance companies acquired from Merrill Lynch in 2007.

Valuation of financial assets

IFRS 7 requires disclosure on the methods used to determine the fair values of financial assets and liabilities. AEGON divides the methods it uses into three distinct categories:

AEGON has in total EUR 106 billion in financial assets measured at fair value in the general account portfolio. AEGON has included certain hedge funds, limited partnerships and private equity investments under category C. An amount of EUR 2.7 billion is in this category C, which is less than 2.5% of total financial assets at fair value. Of AEGON’s total subprime portfolio of EUR 2.9 billion, only EUR 14 million is included in category C.

Investment portfolio Aegon USA

AEGON has a culture of strong and effective risk management. There are robust processes and controls in place throughout the asset management organization. Credit risks are mainly concentrated in AEGON USA’s general account portfolio. Over the last few years AEGON has repositioned investments for its general account insurance portfolio, structuring them defensively in order to weather a stressed credit environment. The relative low level of impairments in the fourth quarter demonstrates the high quality of AEGON’s investment portfolio and the limited impact the current stressed credit environment is having on expected cash flows from AEGON’s fixed income assets.

Net impairments on investments for the Americas amounted to EUR 15 million. The current dislocation of credit markets, however, is characterized by price and/or spread volatility, low liquidity and, for certain segments of the market, may result in changes to credit ratings. Most assets contained in AEGON’s general account portfolio are accounted for as ‘Available for Sale' under IFRS, and thus are held at fair value on the balance sheet. Any changes to the fair value of these assets are recorded on an after tax-basis in shareholders’ equity.

AEGON USA’s subprime mortgage-backed securities (subprime ABS) portfolio of EUR 2.9 billion experienced no impairments. The portfolio is currently valued at approximately 88%, or a fair value of EUR 2.5 billion. The total negative pre-tax revaluation of this portfolio amounts to EUR 348 million at the end of the year. Pricing of certain parts of the portfolio, such as AA-rated floating rate 2006 and 2007 securities, reflects price developments in the subprime ABS indices (ABX). The subprime ABS portfolio consists of 70% AAA-rated securities and 29% AA-rated securities. AEGON does not originate subprime mortgages.

AEGON USA’s residential mortgage-backed securities (RMBS) portfolio includes securities of near prime residential mortgage loans, such as so-called Alt-A and negative amortization floaters. AEGON’s EUR 862 million of Alt-A holdings are backed by fixed-rate loans and 99% of these securities are AAA. At the end of 2007 the Alt-A portfolio had total negative pre-tax revaluations of EUR 18 million, bringing the fair value of this portfolio to EUR 844 million, or approximately 98%. The negative amortization, or Option ARM floaters, is

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collateralized by affordability-type loan structures that allow for flexible monthly repayments. This EUR 1.6 billion portfolio is entirely AAA rated and consists of super-senior triple-A exposure. This means that subordination levels in the securitizations are 4 to 5 times what is typically required by rating agencies for a AAA rating. The total negative pre-tax revaluation of this portfolio was EUR 73 million bringing the fair value of the portfolio to EUR 1.5 billion, or approximately 95%.

AEGON’s collateralized debt obligations (CDO) portfolio totals EUR 1.0 billion. Total negative pre-tax revaluations on AEGON’s CDO portfolio amounted to EUR 48 million at the end of the year, with a fair value of approximately 95%. The majority of these investments is backed by leveraged bank loans, of which 92% was rated AAA and AA at the end of 2007. The portfolio includes an investment of EUR 21 million in CDOs backed by subprime mortgages assets purchased before 2002.

At the end of 2007, total negative pre-tax revaluations on subprime ABS, Alt-A RMBS, negative amortization floaters and CDOs totaled EUR 487 million, bringing the fair value of the portfolio to approximately 92%.

For a fee, AEGON USA takes on credit exposure on a credit index, i.e. super-senior tranches of the CDX index, via a synthetic collateralized debt obligation program (synthetic CDO). This index is composed of a reference portfolio of 125 investment grade corporate credits. 84% of the exposure is to the most senior of the super-senior tranches, i.e. the 30%-100% tranche. This means that losses to AEGON occur only if cumulative net losses on the CDX index exceed 30%, where cumulative net loss is defined as bond defaults net of recoveries. The average duration of the outstanding transactions is 4.7 years. AEGON considers the probability of losses at these levels to be extremely remote and hence does not expect any cash losses to occur from these synthetic CDO positions. As these derivatives are marked to market through earnings, they may however cause substantial operating earnings volatility prior to maturity due to credit spread volatility, but will not affect underlying earnings. Assuming there are no cash losses from these positions, any mark to market effect on operating earnings will be reversed by maturity. At December 31, 2007, the notional amount of this program was EUR 4.5 billion with a negative market value of EUR 30 million.

Value of new business (VNB)

In November 2007, AEGON increased its 2010 VNB target to EUR 1.25 billion, up 14% from the Group’s original target of EUR 1.1 billion. This new VNB target implies an average annual increase of approximately 18% from AEGON’s VNB of EUR 550 million in 2005. By 2010, AEGON expects the share of total VNB coming from Asia, Central and Eastern Europe and Other European countries to reach between 30 and 35%.

In 2007, VNB totaled EUR 927 million, putting AEGON on track to meet its increased target for 2010. VNB for the fourth quarter of 2007 amounted to EUR 226 million, compared with EUR 272 million over the same period the previous year. VNB in the Americas included USD 48 million in extraordinary items in the fourth quarter of 2006. AEGON’s developing markets, outside the Group’s three main, established country units, accounted for 25% of total VNB in the fourth quarter. The internal rate of return (IRR) on new business for the full year was 18.4% and 18.0% in the fourth quarter, well in excess of AEGON’s internal hurdle rate of 11%.

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Strategic business initiatives

During the fourth quarter, AEGON announced the completion of two new investments in growth opportunities.

AEGON and Taishin finalized a joint venture agreement to develop and distribute life insurance and pension products in Taiwan. The two groups believe the Taiwanese market for retirement planning and wealth management solutions will continue to show strong growth in the years ahead. In particular, there is a rising demand for pensions and other related products. The joint venture is expected to be operational by mid-2008, subject to regulatory approval.

AEGON also completed the acquisition of the Merrill Lynch Life Insurance Companies and finalized an agreement with Merrill Lynch to form a strategic business relationship in the areas of insurance and investment products. The acquisition adds further scale to AEGON’s existing variable annuity business, moves AEGON to a top five position in the wirehouse channel and provides the framework for a strong strategic relationship with Merrill Lynch, creating a significant opportunity to grow sales while jointly building and branding new and innovative products.

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THE AMERICAS

Operating earnings before tax

Operating earnings before tax amounted to USD 730 million in the fourth quarter of 2007, a decrease of USD 37 million or 5% compared to the same period last year. The decrease in operating earnings is primarily the result of the strong overperformance of fair value assets during the fourth quarter 2006 when compared to smaller yet still overperformance in the fourth quarter of 2007. The total contribution of fair value items declined by USD 180 million in the fourth quarter of 2007 compared to last year. Almost all lines of business contributed to the 29% increase of the net underlying earnings before tax in the fourth quarter.

Life and protection

Operating earnings before tax of USD 382 million increased USD 95 million, or 33%, over the fourth quarter of 2006. The increase in earnings was driven by growth of the business, the update of mortality assumptions (USD 52 million) and reserve adjustments in Canada (USD 43 million), offset by lower fair value asset performance. The underlying earnings before tax, which excludes the effect of fair value items, increased by 45% to USD 372 million.

Individual savings and retirement

Operating earnings before tax were USD 135 million in the fourth quarter of 2007, a decrease of 43% over the fourth quarter of 2006. Fixed annuity earnings decreased due primarily to lower earnings on total return annuities. The decrease of USD 70 million in variable annuity earnings is primarily the result of higher guarantee costs driven by segregated funds in Canada. The underlying earnings before tax decreased 4% to USD 149 million.

Pensions and asset management

Operating earnings before tax increased USD 9 million to USD 46 million from the fourth quarter of 2006. Continued organic growth, driven by strong positive net cashflows, in addition to positive mortality experience is the primary source of increased earnings. The underlying earnings before tax increased by 37% to USD 37 million.

Institutional products

Operating earnings before tax of USD 133 million for the fourth quarter of 2007 were USD 21 million lower than in the comparable period. Solid growth of the business and the inclusion of Clark Inc. were more than offset by less favorable performance of fair value items. Earnings in the last quarter of 2006 and 2007 reflect strong outperformance of hedge funds and other fair value investments. This year, however, the outperformance was offset by negative market value movements on synthetic CDOs. The underlying earnings before tax increased by 27% to USD 135 million.

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Reinsurance

Operating earnings before tax of USD 33 million for the fourth quarter of 2007 were USD 19 million lower than the same period last year. The decrease is the result of growth offset by a reserve strengthening (USD 25 million) on a closed block of variable annuity guarantees. The underlying earnings before tax decreased by 22% to USD 28 million.

Commissions and expenses

Commissions and expenses declined 23% to USD 993 million. Operating expenses increased 4% to USD 525 million, primarily the result of acquisitions and restructuring costs.

Net operating earnings

Net operating earnings increased USD 7 million to USD 558 million, while the effective tax rate decreased from 28.2% in the fourth quarter 2006 to 23.6% in the fourth quarter 2007. The decrease in tax rate was attributable to two extraordinary items in the fourth quarter of 2007, specifically lower enacted federal rates in Canada and a true-up of prior year taxes in the US. The net underlying earnings increased by 29% to USD 555 million in the fourth quarter.

Revenues

Total revenues of USD 6.5 billion increased 19% over the fourth quarter of 2006, mainly driven by higher single life insurance premiums. Investment income of USD 1.9 billion increased 4%, while fees and commissions increased 13% to USD 382 million, mainly due to the inclusion of AEGON’s acquisition of Clark Inc.

Sales

Total new life sales for the quarter of USD 362 million were in line with the fourth quarter of 2006, which included USD 50 million from a significant block of retail credit life insurance. Deposits of individual savings and retirement products increased 31%, while pension deposits rose 43%.

Institutional deposits declined over the comparable period in 2006, as deposits in 2006 were extraordinarily high, driven by USD 6.5 billion of synthetic GIC sales. Net deposits improved mainly due to higher net deposits in pension and asset management products, in addition to lower net outflows in fixed annuities.

Life and protection

New life sales for retail products were USD 204 million during the fourth quarter of 2007, down 9% over the same period last year. Excluding the effect of an extraordinary reinsurance transaction in the fourth quarter of 2006 (USD 50 million) and a similar transaction in the fourth quarter of 2007 (USD 10 million), retail new life sales increased 11% over the prior year. Accident and health new premium production of USD 249 million was down USD 10 million.

Individual savings and retirement

Total individual savings and retirement deposits of USD 2,306 million for the fourth quarter of 2007 increased 31%, compared to the same period in 2006. Fixed annuity sales were up 109% over fourth quarter 2006 to USD 610 million due to a more favorable yield curve. Variable annuity sales of USD 900 million increased USD 97 million, or 12%, mainly the result of the ‘Income Select for Life’ product and increased wholesaler capacity. Mutual fund sales increased 20%, reflecting successful distribution through the broker/dealer, wirehouse and bank channels.

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Pensions and asset management

Pension deposits grew to USD 3,394 million, an increase of USD 1,018 million, or 43%, compared to fourth quarter 2006 levels on higher sales of both single premium defined contribution and terminal funding products. Third party asset management sales increased 5% to USD 396 million.

Institutional products

Sales of institutional guaranteed spread-based products totaled USD 1,342 million during the fourth quarter, a decrease of USD 1,269 million, or 49%, compared with the fourth quarter of 2006. Sales of institutional fee-based products totaled USD 4,430 million, down from a strong fourth quarter of 2006 of USD 7,134 million. Sales of BOLI/COLI products increased 73% to USD 90 million, including a large single premium sale.

Reinsurance

Reinsurance new life sales totaled USD 68 million, down USD 19 million, or 22% over the fourth quarter of 2006. This is in line with expectations as more client companies increase retention limits.

Value of new business

The value of new business for the full year was up 18% to USD 581 million, driven primarily by the institutional business and the life insurance business and the inclusion of mutual funds. VNB in the fourth quarter of 2007 decreased USD 31 million mainly due to USD 48 million of extraordinary items in 2006. The IRR on new business was 13.0% for the full year 2007, in line with last year. The IRR during the fourth quarter of 2007 was 13.1%. Please refer to page 29 for more detailed information on value of new business.

Revenue generating investments

Total revenue generating investments at the end of the year amounted to USD 326 billion, up 14% over the same period last year, including USD 15 billion from the Merrill Lynch Life Insurance Companies. General account investments were in line with the prior year, while separate account and off-balance sheet investments increased 29% and 16% respectively.

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