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This document is dated October 14, 2009. It may not be accurate after such date and LNC does not undertake to update or keep it accurate after such date.

Lincoln Financial Group Launches Lincoln GrowSmartSM Fixed Annuity

PHILADELPHIA, October 14, 2009 — Lincoln Financial Group (NYSE: LNC) today announced the introduction of its new single purchase payment product, Lincoln GrowSmartSM fixed annuity offered through broker dealer distribution. This new retirement solution helps people secure their financial futures by offering guaranteed tax deferred growth without market risk and the protection of a guaranteed death benefit for clients' beneficiaries. The solution also offers clients the flexibility of multiple interest rate guarantee periods to meet their specific needs.

"People are living longer, facing increasing costs, and addressing new challenges every day," said Kris Kattmann, VP and Associate Actuary for Lincoln Financial Group. "Lincoln GrowSmartSM fixed annuity can help to address some of these challenges by offering potential for growth, protection from market downturns and the flexibility to choose a competitive interest rate period suited to their financial goals."

Lincoln GrowSmartSM Fixed Annuity features include:

  • Tax-Deferral - The annuity offers tax-deferral enabling people to defer paying taxes until money is withdrawn, which allows assets to earn more.
  • Multiple Interest Rate Periods - This product provides guaranteed, predictable growth over a specific time period. Clients can choose one of eight interest rate periods, ranging from three to 10 years.
  • Guaranteed Death Benefit - Lincoln GrowSmart offers valuable death protection. Should a client die before the annuity payments begin, the contract's accumulation value will be paid to the beneficiary they designate. Since some or all of the death benefit may be taxable to the beneficiary, a tax advisor should be consulted about possible tax implications.
  • Emergency Access to Assets - In the event people need emergency access to cash, the product features access to income each year with a 10 percent withdrawal allowed, free of charge, before the interest guarantee period ends. If a withdrawal is made in excess of 10 percent, a surrender charge and market value adjustment (MVA) are applied. The MVA may be a positive or negative adjustment depending on the interest rates at the time of the withdrawal.*

"In today's climate of economic uncertainty, clients are looking to retirement products with flexibility and growth potential, but with less risk," said Rob Grubka, Head of Product for Retirement Solutions, Lincoln Financial Group. "Lincoln GrowSmart fixed annuity offers a strong combination of flexibility, stability and protection that helps to meet the needs of people in today's environment. This launch is one more way Lincoln Financial is developing new retirement solutions to meet the ever-changing needs of our clients."

A fixed annuity is intended for retirement or other long-term needs. It is intended for a person who has sufficient cash or other liquid assets for living expenses and other unexpected emergencies, such as medical expenses. A fixed annuity is not a registered security or stock market investment and does not directly participate in any stock or equity investments, or index.

Lincoln GrowSmartSM single premium deferred annuity (contract form 09-612) is a fixed annuity issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker/dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. Contractual obligations are backed by the claims-paying ability of The Lincoln National Life Insurance Company.

Contracts sold in New York (contract form 09-612NY or state variation) are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker/dealer. Contractual obligations are backed by the claims-paying ability of Lincoln Life & Annuity Company of New York.

*Withdrawals are subject to income taxes and, if withdrawn before age 59 1/2, a 10% federal penalty tax may apply. Withdrawals during the surrender charge period are subject to surrender charges and a market value adjustment (MVA). Withdrawals during the guaranteed period are subject to an MVA.

Product and features are subject to state availability. Limitations and exclusions may apply.

About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $181 billion as of June 30, 2009. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance;
401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.



For more information:

Media Contacts:
Daniela Palmieri
484 583-2986
E-mail: MediaRelations@LFG.com

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Hello future.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and insurance
company affiliates, including The Lincoln National Life Insurance Company, Fort Wayne, IN,
and in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY. Variable products
distributed by broker/dealer-affiliate Lincoln Financial Distributors, Inc., Radnor, PA. Securities
and investment advisory services offered through other affiliates. Explore Lincoln.