Industry-Leading ING LifePay Plus Withdrawal Benefit with an ING Variable Annuity now Features Improved Withdrawal Flexibility, Retains Popular 7% Guarantee for Ten Years

ING LifePay Plus, one of the best-selling variable annuity living benefit riders in the U.S. today, has been refined and improved with more flexible withdrawal options, according to an announcement from ING USA Annuity and Life Insurance Company, which issues ING (NYSE: ING) variable annuity products.

"The new ING LifePay Plus withdrawal options represent the next step in the evolution of lifetime income solutions for retired Americans," said Valerie Brown, President of ING Retail Annuity. Brown said that ING LifePay Plus guaranteed lifetime income variable annuity rider was introduced in August 2006 and subsequently accounted for nearly 70% of ING's new variable annuity contracts during the 4th quarter of 2007. The popularity of ING LifePay Plus helped push ING to a No. 2 ranking among all variable annuity providers during that quarter according to VARDS reports, and interest has remained strong in early 2008. (VARDS is a Morningstar-owned national variable annuity sales information & reporting system.)

The ING LifePay Plus withdrawal benefit features a guaranteed 7% annual minimum increase to the living benefit withdrawal base during the first 10 years of the annuity contract, a highly competitive guarantee that combines with other features like automatic quarterly ratchets during the growth phase and automatic quarterly resets during the withdrawal phase, according to ING USA Annuity and Life Insurance Company.

Among the newly-announced improvements to ING LifePay Plus withdrawal benefit optional rider are:

  -- Annuity owners can take a withdrawal during the first 10 years without
     ending the 7% compounding step-up:  For each of the first ten complete
     contract years, any year in which the contract owner did not take a
     withdrawal, the withdrawal base from the previous contract anniversary
     will increase by a minimum of 7%. (With the previous version of the ING
     LifePay Plus rider, the 7% compound increase to the withdrawal base
     would end once the owner began taking withdrawals before the end of the
     ten years.)
  -- New maximum annual withdrawals of 6% at age 70:  With the new version
     of ING LifePay Plus variable annuity rider, contract owners can
     withdraw 6% at age 70.  (With the previous version of the ING LifePay
     Plus, the maximum withdrawal was at 6% at age 76.)

Other ING LifePay Plus features that helped make the rider one of the most competitive in the U.S. variable annuity market remain in the newest version introduced April 28, including: Guaranteed lifetime income, regardless of how long you live; quarterly ratchet opportunities for life, including quarterly resets after withdrawals begin; guaranteed 7% compounding step-up to help assure income protection in down and flat equities markets; the ability to turn the income stream on or off at any time when the contract is annuitized; and the flexibility to control how money in the variable annuity will be invested.

"What's widely recognized as an industry-leading guaranteed withdrawal benefit just got better," said ING's Brown, adding, "The continuing popularity of the competitive ING LifePay Plus withdrawal benefit rider reflects what savers and their financial professionals view as the right balance of guaranteed growth, control over how the money is invested, and guaranteed future income benefits -- all combined with backing of a diverse global insurance and financial services company."

Variable annuities are long-term insurance contracts designed for investing for retirement. They offer the opportunity to allocate premiums among fixed and variable investment options that have the potential to grow income tax-deferred, until an income stream begins. Annuity income is defined as a series of periodic payments, a part of which may be return of your premium or principal, which is guaranteed by the issuing insurance company for a specified period of time or for the life of the annuitant. Optional benefits and riders are available for an additional cost. ING variable annuities are issued by ING USA Annuity and Life Insurance Company, a prominent provider of investment and income solutions for Boomer-aged savers. Financial professionals interested in learning more about ING LifePay Plus and other annuity features and options offered through the ING family of companies should contact their ING annuity distribution representative or call 800-344-6860.

You should consider the investment objectives, risks and charges, and expenses of the variable annuity and its underlying investment options carefully before investing. The prospectuses for the variable annuity and underlying investment options contain this and other information. You may obtain free prospectuses by calling your financial professional or 800-366-0066. Please read the prospectuses carefully before investing.

Variable insurance products are subject to investment risk, are not guaranteed and will fluctuate in value. In addition, there is no guarantee that any variable investment option will meet its stated objective. Variable annuities usually consist of three key components:

(1) A variable annuity allows your earnings to grow tax-free until they are withdrawn. Withdrawals may be subject to surrender charges. Upon withdrawal, your investment earnings will be subject to ordinary income tax and, if taken prior to age 591/2, a 10% IRS penalty tax may apply. Transfers among investment options currently are not subject to ordinary income tax.

(2) Annuities generally offer a full range of investment options managed by professionals in the industry. The performance of the portfolios selected within an annuity will cause your investment return to fluctuate. Your investment is subject to market risk and you may lose all, or part, of your investment. Past performance is no guarantee of future results.

(3) ING Variable Annuities offer death benefits that provide protection for your beneficiary and optional living benefits that provide protection for the contract owner. ING variable annuities also provide lifetime income options to help protect against outliving your income. Optional living benefits are available for an additional charge. Other limitations may apply, Withdrawals have the effect of reducing the death benefit and optional benefits elected. All guarantees are based on the financial strength and claims paying ability of the issuing insurance company, which is solely responsible for all obligations under its policies.

Annuities are issued by ING USA Annuity and Life Insurance Company (Des Moines, IA). Variable Annuities are distributed by Directed Services LLC. Product features discussed are not available in the state of New York. Not all contracts are available in all states, and may vary by state. Note: All guarantees are based on the financial strength and claims paying ability of ING USA Annuity and Life Insurance Company, which is solely responsible for all obligations under its policies.

In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients which include life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves over 14 million customers across the nation.

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 125,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

For more information, visit www.ing.com

First Call Analyst:
FCMN Contact: chuck.eudy@us.ing.com

SOURCE: ING US Financial Services

CONTACT: Press: Chuck Eudy of ING US Financial Services,
+1-770-980-5209, or mobile, +1-770-490-6420, chuck.eudy@us.ing.com

Web site: http://www.ing.com/
http://www.ing.com/us