1. Nationwide Financial Services
Sub-prime and Alt-A Disclosure
As of September 30, 2008
Recent market events have led to requests for more specific information concerning securities containing Sub-
prime and Alt-A collateral. In support of the company’s commitment to transparency, the following table
discloses NFS’ exposure to Sub-prime and Alt-A collateral. Additional information concerning the company’s
investment activity can be found in the company’s quarterly report on Form 10-Q, which is available on the
investor relations section of the company’s web site at www.nationwide.com (upon filing).
The Company’s investments in securities that contain Alt-A and Sub-prime collateral are predominantly highly
rated. As of September 30, 2008, 91% and 86% of securities containing Alt-A and Sub-prime collateral,
respectively, were rated AA or better. In addition, 63% and 74% of Alt-A and Sub-prime collateral,
respectively, was originated in 2005 or earlier.
The following tables summarize the distribution by collateral classification, rating and origination year,
respectively, of the Company’s general account mortgage-backed and asset-backed securities as of September
30, 2008:
% of
estimated
Estimated fair value
(dollars in millions) fair value total
Government agency $ 4,140.7 40.1
Prime 1,262.2 12.2
Alt-A 1,742.9 16.9
Sub-prime 631.2 6.1
Non-residential mortgage collateral 2,547.9 24.7
Total $ 10,324.9 100.0
Alt-A Sub-prime
%of %of
estimated estimated
Estimated fair value Estim ated fair value
(dollars in millions) fair value total fair value total
AAA $ 1,451.4 83.3 $ 391.2 62.0
133.6 7.7 151.4 24.0
AA
A 61.1 3.5 50.2 7.9
57.9 3.3 11.7 1.9
BBB
BB and below 38.9 2.2 26.7 4.2
$ 1,742.9 100.0 $ 631.2 100.0
Total
Alt-A Sub-prime
%of %of
estimated estimated
Estimated fair value Estim ated fair value
(dollars in millions) fair value total fair value total
Pre-2005 $ 511.0 29.3 $ 387.1 61.3
589.3 33.8 78.2 12.4
2005
2006 357.0 20.5 145.2 23.0
285.6 16.4 20.7 3.3
2007
$ 1,742.9 100.0 $ 631.2 100.0
Total