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Quixote Selects The Principal Financial Group To Provide Retirement Solutions.

DES MOINES, Iowa -- The Principal Financial Group(R), the nation's 401(k) leader and total retirement solutions innovator, announced it was selected to provide retirement plan solutions for Quixote Corporation, effective December 15, 2005. Quixote is the world's leading manufacturer of transportation safety products and services. The Quixote retirement plan includes more than $22 million in transfer assets in their defined contribution plan and serves approximately 900 participants.

After an extensive search for qualified 401(k) service providers, Quixote approved the collaboration of the MHK Group at Morgan Stanley and the Principal Financial Group. Under the direction of Senior partner Roger McDowell, vice president and retirement planning specialist, the MHK Group will act as advisors to the Quixote Management Team as well as the employees.

"We selected The Principal for our retirement plan services because they could offer so much to our participants," said Dottie French, Corporate Benefits Manager at Quixote. "They have the tools to help us establish a solid communication strategy - reinforced by technology that helps participants manage their accounts and make sound investment decisions. Plus they offer a greater array of investment choices at a competitive cost."

Renee Schaaf, vice president of Retirement and Investor Services at The Principal, added, "Experience shows that many plan participants are still uneasy about making investment elections, and once doing so, a majority seldom, if ever, change asset allocation to keep pace with changing life stages and circumstances. Quixote demonstrates its commitment to making those decisions easier for participants by including the Principal Lifetime portfolios and the Principal Managed Accounts Program(SM), as part of their robust investment lineup."

The Quixote retirement savings plans offer participants open access to a wide variety of investment options, managed by several leading investment managers including Principal Global Investors, Inc. the asset management arm of The Principal.

The Principal is a nationally recognized leader in total retirement solutions serving approximately 45,000 employer plan sponsors and more than 3 million plan participants. The Principal, a recognized leader in consulting services, also will assist in providing extensive compliance and plan design expertise.

Plan participants will receive the latest tools including: online account information and education through an award-winning website, The Principal Retirement Service Center(R) (www.principal.com)(1), interactive educational and asset allocation tools, Morningstar investment information, easy-to-understand participant statements, on-site investment education and retirement planning seminars, toll-free counseling, rollover assistance, and the quarterly award winning magazine Plan Ahead. Get Ahead(R)(2).

About Quixote

Quixote Corporation is the world's leading developer and manufacturer of energy-absorbing highway crash cushions, electronic wireless sensing and measuring devices, weather forecasting stations, computerized highway advisory radio, intelligent intersection control systems, mobile and permanent electronic variable message signs, flexible post delineators and other transportation safety products and services. Since 1969 it is estimated that its crash cushions have saved over 50,000 lives worldwide and prevented countless injuries.

About the Principal Financial Group

The Principal Financial Group(R) (The Principal (R))(3) 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. A member of the Fortune 500, the Principal Financial Group has $188.4 billion in assets under management(4) and serves some 15.3 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.

(1) Awarded Dalbar Communication Seal of Excellence 2005

(2) Insurance and Financial Communicators Awards (IFCA) Competition 2005

(3) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(4) As of September 30, 2005

Insurance products and plan administrative services are provided by Principal Life Insurance Company, a member of the Principal Financial Group, Des Moines, IA 50392. #346012008
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Publication:Business Wire
Date:Feb 8, 2006
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