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Morley Financial Services Announces Gardner to Join Distribution Team

"We are very excited to have Bill join our organization," said Tim Stumpff, president of Morley. "He has an excellent reputation in the industry and a proven talent for providing outstanding client service."

Stumpff says Gardner's 23 years of stable value industry leadership make him an excellent addition to Morley's sales and client service team.

"As an integral part of our relationship management team, Bill will help us continue to deliver on our mission of providing top-tier stable value solutions," Stumpff said.

"Expanding the Morley team with a professional of Bill's caliber and coupling that with Morley's access to a variety of wrap capacity sources, illustrates our firm's commitment to the business and to our clients," he added.

Gardner was formerly with Dwight Asset Management for twelve years, most recently as senior vice president. Gardner earned his bachelor's and MBA degrees from the University of Oregon.

He will report to Ron Heath, Morley's Managing Director for Sales and Marketing.

About Morley Financial Services:
Morley Financial Services is a leader in the stable fixed income industry, handling various aspects of stable value investing, including portfolio management, research, sales and service. Founded in 1982, the company oversees more than $14.3 billion¹ in assets for a diverse group of institutional clients, including leading banks, corporations, Taft-Hartley Funds and investment counselors across the United States. Morley offers collective funds through its affiliated trust company, Union Bond & Trust. Morley is a wholly-owned affiliate of the Principal Financial Group.

About the Principal Financial Group
The Principal Financial Group (The Principal )² is a retirement and global asset management leader. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, investment services and insurance through its diverse family of financial services companies. A member of the FORTUNE 500, the Principal Financial Group has $327.4 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.

About Principal Global Investors:
Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $235.3 billion³ in assets primarily for retirement plans and other institutional clients.

¹ As of March 31, 2011.
² "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 March 31, 2011.

The Principal Financial Group
Paula Chizek, 515-235-6016
Chizek.Paula@principal.com
or
Adam Lackey, 515-362-0482
Lackey.Adam@principal.com