Allianz Life Sets Fifth Consecutive Total Production Record; Total Production Increased 44 Percent Over 2003.

MINNEAPOLIS -- Allianz Life Insurance Company of North America (Allianz Life(R)), a primary company of the Allianz Group, today reported 2004 total production of $13.9 billion, a 44 percent increase over 2003, and the fifth consecutive year the company has reported record production results. In addition, the company reported that total consolidated assets increased to more than $51 billion at year-end.

Commenting on the company's results, Allianz Life president/CEO Mark Zesbaugh, said, "Our strategy of focusing on the development of innovative products, ongoing marketing support, and exceptional service, all delivered by talented employees, again proved to be a powerful formula for success. By all measures, Allianz Life is a stronger company today, we're continuing to build all lines of business, and we're poised for continued growth in the future."

Annuity Market Leadership.

Total fixed annuity premiums of more than $8.4 billion, up 38 percent from $6.1 billion in 2003, again placed the company #1 in the sale of fixed annuities through independent agents in the U.S.(1.) And, for the fifth consecutive year, Allianz Life led the industry in the sale of fixed equity indexed annuities. With premiums of $7.9 billion, the company outpaced its nearest rival by $5.7 billion.(2)

New variable annuity sales production by the company's affiliate, USAllianz Investor Services, LLC(R), totaled over $4.0 billion, a gain of 60 percent over $2.5 billion reported in 2003. According to Morningstar/VARDS, as of the end of 2004, Allianz Life ranked #6 in new variable annuity sales through the financial planner channel, and #13 overall among all U. S. variable annuity providers.(3)

Strong Enterprise Performance.

The Allianz Life healthcare risk management division also maintained its position as a leading provider in the Excess of Loss market, reporting production of $225 million in 2004. The division offers coverage for HMOs, self-insured employer groups, healthcare provider groups, and healthcare institutions. In addition, the company's full service broker/dealer unit saw significant productivity gains by independent registered representatives contracted with the unit.

1. Life Insurance Marketing Research Association (LIMRA), 2004.

2. The Advantage Compendium, Ltd., March 2005.

3. Morningstar/VARDS, March 2005.

Production reported is statutory gross written premium (GWP).

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, life policies, and long term care products in the U.S. Allianz Life is also a major provider of health excess of loss services and offers the LifeTrac(SM) Network. 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 over 162,000 people worldwide. Founded in 1896, Allianz Life is based in Minneapolis, Minnesota.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements.