American Century Offers Five VP Funds Through Jefferson National's Monument Advisor: First Variable Annuity with Flat Insurance Fee Targeting Fee-Based Advisors.

LOUISVILLE, Ky. & NEW YORK -- One of the Lowest Cost VA's on the Market(1): No Insurance M&E Fee, No Product Surrender Fee(2), No Sales Charge--One Flat Monthly Insurance Fee

Well known for its strong presence within the advisor community, American Century is pleased to announce that it is now offering five of its VP funds through Jefferson National's Monument Advisor, the only variable annuity for the fee-based advisor market to charge a flat insurance fee of $20 per month, no matter how much the client invests(3).

The five American Century VP funds offered through Monument Advisor provide diverse investment styles and strategies, for clients with risk profiles ranging from conservative to somewhat aggressive:

--VP Balanced: Seeks to deliver long-term capital growth and current income with less volatility by investing in a balanced portfolio of equities, bonds and other fixed-income securities.

--VP Income & Growth: incorporates both growth and value measures into its stock selection process to seek consistent long-term performance.

--VP Inflation Protection: Pursues a total return using a strategy that seeks to protect against U.S. inflation.

--VP International: An aggressive risk fund that seeks long-term growth by primarily investing in large-sized companies located in foreign, developed countries.

--VP Value: seeks seasoned well managed companies whose shares it believes are undervalued for reasons unrelated to the firms fundamental or financial health.

In addition to the American Century VP fund lineup, Monument Advisor offers advisors and their clients one of the industry's widest selections of investment options available today, with a total of more than 110 funds. Funds cover every style and category, along with sector funds, real estate and hard assets, alternative investments, and funds designed for dynamic trading, so that advisors can combine core strategies with active portfolio management(4). As with all variable annuities, Monument Advisor passes along the investment charges of its underlying funds, which range from 0.26% to 2.54%, as well as fees of investment advisors.

"At American Century we always seek new ways to support advisors and their clients: with best in class products and value-added tools to make advisors and clients successful. Jefferson National's new Monument Advisor is a perfect match with our philosophy," said Jay Breitenkamp, Vice President, National Accounts for American Century Investments. "By replacing the usual asset-based M&E insurance charge with a flat, $20 monthly insurance fee--no matter how much the client invests--Jefferson National's Monument Advisor produces a unique value for the advisors and their clients, along with a depth and breadth of quality investment options to serve the needs of the investor."

"To make variable annuities a viable option for fee-based advisors, we've cut out the asset-based insurance fees, the commissions and the surrender charges, and we've replaced them with Monument Advisor's flat insurance fee of $20 per month, no matter how much clients invest," said Patrick D. Ferrer, National Sales Director, Jefferson National. "By joining with industry leaders like American Century to combine first-rate fund options with our low-cost tax deferral, Monument Advisor is designed to help advisors help their clients achieve their investment goals."

About American Century

American Century Investments is a leading investment manager with more than 45 years of experience helping investors achieve their financial goals. Serving investment professionals, institutions, corporations and 1.6 million individual investors, American Century offers a broad array of products across a variety of investment disciplines. Based in Kansas City, Mo., the company manages approximately $95 billion in assets through mutual funds, separate accounts, commingled trusts, subadvisory accounts and institutional class funds. James E. Stowers Jr. founded the company in 1958. His son, James E. Stowers III, is chairman and William M. Lyons is president and chief executive officer. For the past six years, American Century, which employs 1,900 people, has been selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. For more information about the company, visit www.americancentury.com.

About Jefferson National Life Insurance Company

Jefferson National Life Insurance Company (Jefferson National) is a wholly owned subsidiary of Inviva, Inc. as of 2002. Founded in 1937, Jefferson National is domiciled in Dallas, Texas with authority in 49 states and the District of Columbia. Jefferson National has offices in New York, N.Y. and in Louisville, KY. To learn more, please visit www.jeffnat.com.

About Inviva

Inviva is a privately owned insurance holding company with two subsidiaries that are licensed to sell life insurance and annuities, with both fixed and variable authority, collectively in all 50 states. Inviva's patent-pending automated process has been designed expressly to meet the life insurance and annuity needs of consumers by streamlining every step of sales, application, issuance and administration. Inviva's innovative products have helped numerous agents, broker-dealers, advisors and direct marketing partners to gain efficiencies and drive sales while providing greater customer value. Through its subsidiaries, Inviva serves more than 90,000 customers nationwide. Inviva is headquartered in New York, N.Y. with administrative operations in Louisville, KY. To learn more, please visit www.inviva.com.

Important Disclosure:

Variable annuities are subject to investment risk, including possible loss of the principal amount invested. Variable annuities are long-term investments to help you meet retirement and other long-range goals. Variable annuities are complex products, however, and are not suitable for everyone. They are not designed for meeting short-term goals because substantial taxes and insurance company charges may apply if you withdraw your money early. Withdrawal of tax-deferred accumulations may be subject to deferred sales charges and are subject to ordinary income tax. If owners who are less than age 59 1/2 make withdrawals, those withdrawals may incur a 10% IRS tax penalty. Neither Jefferson National nor its representatives are qualified to give tax advice.

Please see current product and underlying investment portfolio prospectuses for more complete information about Jefferson National's variable annuities and the underlying investment portfolios. Prospectuses may be obtained from Jefferson National by writing to us at the below address or from your registered representative. Consider the investment objectives, risks and charges and expenses of the underlying investment portfolios carefully before investing. Prospectuses contain this, and other information about the investment portfolios. Please read all prospectuses carefully before investing.

(1) For a $25,000 contract, Monument Advisor's $20 per month insurance fee is lower than 86% of all variable annuity insurance charges. For a $100,000 contract, the $20 insurance fee is lower than all variable annuity insurance charges. Morningstar data as of 12/31/2004.

(2) The IRS may charge 10% tax penalty on any withdrawal made before age 59 1/2.

(3) Contributions in excess of $2 million are subject to Company approval.

(4) See prospectus for limitations on transfers.

Guarantees are based on the financial strength and claims-paying ability of the issuing company: Jefferson National Life Insurance Company. Annuities are not FDIC insured; they are not deposits, obligations of or guaranteed by the bank or any federal government agency; and they involve risk, including the possible loss of principal. Jefferson National variable annuities are issued by Jefferson National Life Insurance Company, with Administrative Offices at 9920 Corporate Campus Drive, Suite 1000, Louisville, KY 40223 and are offered by prospectus only. Inviva Securities Corporation is a member of the NASD and the principal underwriter of the variable annuities issued by Jefferson National.

This summary of product features is not intended to be all-inclusive. Restrictions will apply. The contracts have exclusions and limitations. The products may not be available in all states or at all times. Please see the product prospectuses for more information.