CONSOLIDATED BALANCE SHEETS AT DECEMBER 31 In accordance with Dutch Accounting Principles Amounts in millions 2003 2002 Note 2003 2002 USD USD number EUR EUR INVESTMENTS 2,862 2,319 Real estate 1 2,266 2,211 3,643 3,729 Group companies and participations 2 2,884 3,556 150,164 134,615 Other financial investments 3 118,895 128,364 42 35 Deposits with ceding undertakings 4 33 33 156,711 140,698 124,078 134,164 126,412 99,341 INVESTMENTS FOR ACCOUNT OF POLICYHOLDERS 5 100,089 94,728 RECEIVABLES 3,189 2,218 Receivables out of direct insurance 6 2,525 2,115 1,136 586 Receivables out of reinsurance 899 559 1,373 1,194 Other receivables 7 1,087 1,138 5,698 3,998 4,511 3,812 OTHER ASSETS 403 412 Equipment 8 319 393 2,077 1,664 Liquid assets 9 1,645 1,587 210 40 Other assets 166 38 2,690 2,116 2,130 2,018 PREPAYMENTS AND ACCRUED INCOME 1,878 1,614 Accrued interest and rent 1,487 1,539 2,123 2,040 Other prepayments and accrued income 10 1,681 1,945 4,001 3,654 3,168 3,484 295,512 249,807 TOTAL ASSETS 233,976 238,206 For notes: see page 87 and following. AEGON GROUP ANNUAL REPORT 2003 78