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RELEASE: CONTACT: On receipt, January 23, 2007 Susan Houser, The Principal, 515.248.2268, [email protected] Terri Hale, The Principal, 515.283.8858, [email protected] Principal Financial Group and Balance Point to Provide Seamless Payroll, Retirement Plan and Financial Consulting Services Balance Point joins the Principal Payroll ProgramSM as a select payroll vendor (Des Moines, Iowa) – The Principal Financial Group®1, the nation’s 401(k) leader and total retirement solutions innovator, announces that Balance Point joined the Principal Payroll ProgramSM as a select payroll vendor located in New Jersey. The Principal Payroll Program is the first program to fully integrate the resources of three independent experts – payroll services, retirement plan administrative services and professional financial consulting – into a single, seamless package. “The Principal Payroll Program helps employers save time and money by automating the exchange of data between their payroll service provider—Balance Point— and their retirement plan service provider, The Principal,” explains Doug Grove, vice president and National Sales Director of Retirement & Investor Services—The Principal. “Employers will also have access to an experienced financial professional who can help them choose the best retirement program for their needs—as well as provide ongoing guidance and participant education to make sure that program succeeds.” “We’re excited to take this relationship to the marketplace. Together, Balance Point and The Principal are a force to be reckoned with by providing complete customization, integration and flexibility to their 401(k) plans,” said Pete Luciano, vice president of Sales and co-founder of Balance Point. “Balance Point and The Principal are an excellent fit. They both provide a high level of customer service and state-of-the-art technology.” About Balance Point Balance Point, a privately held company, is a payroll service bureau founded under the premise of delivering the best customer service and technology. With extensive experience, they focus on the middle market, providing solutions for more than 650 clients primarily in the Tri-state area, and processing in excess of one million checks annually. Balance Point provides payroll services, Human Resource Services, Time and Attendance solutions, as well as custom reporting for all industry groups. They pride themselves on their flexibility and personalized service allowing them to provide The Principal ranks number one in plans among companies that provide both administrative and investment services – 2006 Spectrem Group analysis of fully-bundled 401(k) providers. 1 solutions tailored to each client’s specific needs. For more information, go to www.balancepointpayroll.com. About the Principal Financial Group The Principal Financial Group (The Principal ®)2 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $215.0 billion in assets under management3 and serves some 16.4 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com. "The Principal Financial Group" and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. 3 As of September 30, 2006. 2