ADDITIONAL INFORMATION INFORMATION BASED ON U.S. ACCOUNTING PRINCIPLES AEGON GROUP ANNUAL REPORT 2003 146 In 2003 major differences between amounts on Dutch accounting principles and those on US GAAP compared to the amounts of prior years are explained as follows: Net income of EUR 1,531 million was reported for 2003 based on US GAAP, compared to a net loss of EUR 2,328 million for 2002.  Capital losses on shares and real estate realized on a US GAAP basis totaled EUR 125 million (including EUR 352 million ’other-than- temporary impairment’ write downs in 2003 compared to an amount of EUR 1,057 million in 2002) compared to indirect income of EUR 631 million under Dutch accounting principles. Capital gains (losses) on shares and real estate are recognized when they are realized pursuant to US GAAP while the indirect income methodology is applied under Dutch accounting principles.  Capital gains and losses on bonds and private placements realized, less the amortization charge of deferred gains and losses, totaled EUR 893 million for the year ended December 31, 2003 (2002: EUR 8 million). Under Dutch accounting principles gains and losses are deferred and amortized to the income statement over future periods. Under US GAAP these gains and losses, together with the annual amortization charge, are reported in the income statement when they are realized. The consolidated financial statements of AEGON N.V. have been prepared in accordance with Dutch accounting principles which differ in certain respects from those generally accepted in the United States (US GAAP). The following information is a summary of the effect on AEGON’s shareholders’ equity and net income of the application of US GAAP, which is included in further detail in the Form 20-F report filed with the Securities and Exchange Commission. The Form 20-F report is available on request, free of charge, and can also be retrieved from the EDGAR database of the SEC at www.sec.gov and via www.aegon.com. $^{1}$Reflects restatement of certain US GAAP information. AEGON identified certain changes required to be made to figures presented in accordance with US GAAP for the years ended December 31, 2002, and December 31, 2001.  US GAAP net income over 2002 decreased by EUR 98 million, US GAAP comprehensive income for 2002 was EUR 155 million lower and, for 2001 was EUR 297 million lower.  None of the changes affected any income or balance sheet figures presented in accordance with Dutch accounting principles. Shareholders’ equity December 31, Net income Amounts in EUR millions 2003 2002 2003 2002 1 2001 1 Amounts in accordance with Dutch accounting principles 14,132 14,231 1,793 1,547 2,397 Adjustments for: Real estate (817) (804) (33) (48) (61) Bonds and private placements — valuation 3,824 3,411 — — — — realized gains and (losses) 1,132 245 893 8 276 Deferred policy acquisition costs (1,983) (1,421) (251) (557) (141) Goodwill 2,959 3,372 (219) (670) (496) Technical provisions 160 422 (109) 402 45 Realized gains and (losses) on shares and real estate including reversal of indirect return — — (756) (2,251) (1,160) Derivatives (239) (750) 90 32 (152) Deferred taxation (670) (651) (33) (30) 44 Deferred taxation on US GAAP adjustments (671) (489) (72) 205 344 Balance of other items 9 (12) 228 329 (410) AMOUNTS DETERMINED IN ACCORDANCE WITH US GAAP 17,836 17,554 Income before cumulative effect of accounting changes 1,531 (1,033) 686 Cumulative effect of adopting FAS 133 (derivatives), net of tax of EUR 30 million — — (54) Cumulative effect of adopting FAS 142 (goodwill) — (1,295) — NET INCOME IN ACCORDANCE WITH US GAAP 1,531 (2,328) 632 Other comprehensive income, net of tax: Foreign currency translation adjustments (2,384) (2,749) 690 Unrealized gains and (losses) on available for sale securities during the period 1,249 (673) (907) Reclassification adjustment for (gains) and losses included in net income 7 1,193 377 Cumulative effect of accounting change of adopting FAS 133 — — 49 COMPREHENSIVE INCOME IN ACCORDANCE WITH US GAAP 403 (4,557) 841