Des Moines Education Organizations Awarded Grants by the Principal Financial Group Foundation, Inc.; Funds Will Benefit Numerous Programs to Educate Youth and Foster Citizenship

Des Moines Education Organizations Awarded Grants by the Principal Financial Group Foundation, Inc.; Funds Will Benefit Numerous Programs to Educate Youth and Foster Citizenship

DES MOINES, Iowa — Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

DES MOINES EDUCATION ORGANIZATIONS AWARDED GRANTS BY THE PRINCIPAL FINANCIAL GROUP FOUNDATION, INC.; FUNDS WILL BENEFIT NUMEROUS PROGRAMS TO EDUCATE YOUTH AND FOSTER CITIZENSHIP

In an effort to support community needs in the Des Moines area, the Principal Financial Group(R) and the Principal Financial Group Foundation, Inc. provided grants totaling more than $713,000 during second quarter 2005 to numerous youth educational programs, area schools, state colleges and universities and more.

“At any age, having access to diverse educational opportunities is essential. Ongoing learning not only builds knowledge, but also enhances character, purpose and broadens your point of view,” said Libby Jacobs, community relations director of the Principal Financial Group. “Providing much needed funds to a wide range of organizations allows The Principal to reach multiple generations of students, ultimately improving the communities where our employees live and work.”

Among those receiving grants were:

–Dreamer College Camp at Drake University – This support covered the entire cost of the 2005 Dreamer College Camp at Drake University, which was held Aug. 8-12, and was put on by the Des Moines “I Have a Dream” Foundation. The Foundation adopts groups of children from elementary schools or public housing developments and provides ongoing comprehensive, long-term educational support to these students from elementary school through high school. The summer camp is an intensive one-week program for Dreamer students that revolves around a theme every year. This year’s theme was “Learning Habits,” and focused on developing effective study habits, a challenge many Dreamer students face.

–Everybody Wins!-Iowa – Everybody Wins!-Iowa provides reading partners for school children through its “Power Lunch” program where volunteers eat lunch and then read with a child during the school lunch period.

Other organizations receiving grants include:

–Best Buddies Iowa

–Des Moines Business Education Alliance

–Friends of Iowa Civil Rights, Inc.

–GLBT Youth in Iowa Schools Task Force

–Institute of Character Development

–Iowa Association of Business and Industry Foundation

–Iowa Council for International Understanding

–Iowa Dollars for Scholars, a program of Scholarship America(R)

–Iowa Jobs for America’s Graduates

–Iowa Public Television

–Iowa Stories 2000

–Lincoln High School

–Make-A-Wish Foundation

–Des Moines Public Library Foundation

–S.S. Huebner Foundation for Insurance Education

–Society of Actuaries

–World Food Prize

–United Negro College Fund

Funds were also awarded to the following schools/organizations to fund scholarship programs:

–University of Iowa

–Iowa State University

–Drake University

–Central College

–Grand View College

–American Institute of Business

–Iowa College Foundation

–University of Northern Iowa

–Hispanic Scholarship Fund

These grants were made as part of the quarterly charitable grants program of the Principal Financial Group and the Principal Financial Group Foundation. The second quarter grants cycle focuses on education and funds scholarships and educational programming offered by a variety of not-for-profit organizations in targeted communities.

The Principal Financial Group and the Principal Financial Group Foundation also awarded a total of $95,255 in education grants in other communities where The Principal(R) has a significant employee presence, including Cedar Falls, Mason City, Ottumwa and Pella, Iowa; Grand Island, Neb.; Indianapolis, Ind.; Middletown, Conn.; Phoenix/Tucson, Ariz.; Spokane, Wash.; and Wilmington, Del. For a full list of 2005 grant recipients, visit www.principal.com/about/giving.

About the Principal Financial Group Foundation

The Principal Financial Group Foundation provides grants on a quarterly basis in the following categories: Health and Human Services (first quarter); Education (second quarter); Arts and Culture (third quarter); and Recreation and Tourism (fourth quarter).

The Principal Financial Group Foundation, Inc. was formed in 1987 to help support communities in which the Principal Financial Group has a major employee presence. For more information about the Foundation grants program, visit www.principal.com.

About the Principal Financial Group

The Principal Financial Group(R) (The Principal(R))(1) 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 $187.8 billion in assets under management(2) and serves some 15.2 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) “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(2) As of June 30, 2005

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