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Russell LifePointsŪ Variable Balanced Strategy
Fund Overview
Fund Manager(s):Russell Investment Management Company
Objective:Seeks to provide above average capital appreciation and a moderate level of current income.
Focus:Invests in a combination of multi-manager, underlying funds consisting of approximately 55-65% equity and 35-45% fixed income. The fund's objective is to provide above-average capital appreciation and a moderate level of current income.
Asset Class:Value, Growth and Market-Oriented

Russell Investment Group, a Washington USA corporation, operates through subsidiaries worldwide and is a subsidiary of The Northwestern Mutual Life Insurance Company.

Each of the Divisions identified as a Russell LifePoints Variable Target Portfolio Series Fund (LifePoints Fund) is a fund of funds and diversified its assets by investing, at present, in other mutual funds (the "Underlying Fund"). Each LifePoints fund seeks to achieve a specific investment objective by investing in different combinations of the Underlying Funds.

LifePoints® and the Russell logo are registered trademarks and service marks of Russell Investment Group.

No investment strategy can guarantee a profit or protect against a loss.

Fund Facts as of 06-30-2008
Fund Inception04-30-2007
First Available for Variable Annuity04-30-2007
First Available for Variable LifeN/A
Net Assets$63.38 Million
Underlying Funds
RIF Multi-Style Equity Fund14.8%
RIC Quantitative Equity Fund14.8%
RIF Aggressive Equity Fund3.9%
RIF Real Estate Securities Fund4.9%
RIC Global Equity Fund4.0%
RIF Non-U.S. Fund14.0%
RIC Emerging Markets Fund3.0%
RIF Core Bond Fund40.0%
  
% of total portfolio100%

Investment Strategy:

The Fund employs "multi-style, multi-manager" approach whereby portions of the Fund are allocated to different money managers who employ distinct investment styles. The Fund uses three principal investment styles intended to complement one another: a Growth Style, a Value Style and a Market-Oriented Style. The Fund intends to be fully invested at all times.

You should carefully consider the investment objectives, risks, expenses and charges of the investment company before you invest. Your Northwestern Mutual Investment Services Registered Representative can provide you with a contract and fund prospectus that will contain the information noted above, and other important information that you should read carefully before you invest or send money.