Allianz Life Adds New Equity-Indexed Universal Life Product; GenDex-SP and GenDex II Life Insurance Policies Put the Consumer in Control.

MINNEAPOLIS -- Allianz Life Insurance Company of North America (Allianz Life(R)) has announced the addition of GenDex-SP(TM) Life Insurance Policy (single premium) and GenDex II(TM) Life Insurance Policy (continuous premium), two new additions to the company's equity-indexed universal life insurance portfolio.

The new products offer exceptional control: three guaranteed death benefit options; cash values may be indexed based on either one or two equity indexes or a fixed interest option, or a combination of all three. They also offer an annual interest rate bonus to encourage persistency. An optional long term care accelerated death benefit rider, and an accelerated payment of the death benefit in the event of a qualifying terminal illness also are available. Moreover, purchasers have the option to choose to make a single premium payment with GenDex-SP, or ongoing premiums with GenDex II.

"GenDex-SP and GenDex II represent the best ideas in life insurance policy design today," said Patrick M. Foley, CLU, ChFC, CSA, president/CEO of Allianz Individual Insurance Group LLC, a division of Allianz Life. "By offering a range of choices, these products reflect the changing needs of consumers, and puts them in control of their policy. As needs change, people have the freedom to adjust death benefit guarantees and reposition cash value allocations. At the same time, with the option of a death benefit guaranteed to age 120, policyholders can maximize their legacy for the benefit of loved ones."

GenDex-SP(TM) and GenDex II(TM) Features & Benefits

--Backed by the financial strength of Allianz Life, the "Choose -a-Guarantee" feature offers death benefit guarantee options of 10 years, the later of 20 years or to age 65, and to age 120. The guaranteed death benefit period may be changed every five years to a shorter guaranteed period.

--Cash values may be indexed to the monthly performance of the S&P 500 Index or the Nasdaq-100(R) Index, a fixed interest option, or a combination of all three, and the policyholder may change the allocations upon each policy anniversary.

--To encourage persistency, an annual interest rate bonus of .50 percent is credited to the unloaned accumulation value starting in the 11th policy year. Moreover, once interest is credited to the policy, it is locked in.

--A flexible cash withdrawal option during policy years 2-10, up to 10 percent of the policy cash value may be withdrawn once each year, with no fees or charges. (Only available with GenDex-SP)

--The optional Long Term Care Accelerated Death Benefit Rider allows the policyholder to accelerate the payout of the death benefit upon certification of a qualifying chronic illness. Benefits are paid in cash for the policyholder to use for any purpose - no confinement or submission of medical bills is required.

--The terminal illness benefit offers the option to accelerate the payment of 100 percent of the policy death benefit, up to $1 million - a prepayment charge not to exceed 1 percent will be deducted.

GenDex-SP and GenDex II are currently available in 16 states. Product availability and benefits may vary by state.

About Allianz Life Insurance Company of North America

Allianz Life Insurance Company of North America (Allianz Life(R)) is a leading provider of fixed and variable annuities and life policies, as well as long term care products, in the U.S. Allianz Life is also a major provider of health excess of loss services. Allianz Life is one of the primary companies of the Allianz Group - the 11th largest corporation in the world (Fortune, July 2004). Allianz Group is represented with 700 subsidiaries in over 70 countries around the globe, and employs 180,000 people worldwide. Founded in 1896, Allianz Life is based in Minneapolis, Minnesota.