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Press release from Business Wire

Principal Global Investors Approved to Invest in Domestic Chinese Markets

<p class='bwalignc'> <b>QFII License Allows for Direct Investment in China's A-Share Markets</b> </p>

Tuesday, February 21, 2012

Principal Global Investors Approved to Invest in Domestic Chinese Markets10:00 EST Tuesday, February 21, 2012 DES MOINES, Iowa (Business Wire) -- Principal Global Investors, LLC, a leading global asset manager and a member of the Principal Financial Group® (NYSE:PFG), announces it has been awarded the designation of Qualified Foreign Institutional Investor (QFII) by the China Securities Regulatory Commission. The designation allows the firm to invest in the local China A-share markets. Jim McCaughan, CEO of Principal Global Investors, said, “We are pleased to be able to offer clients this valuable opportunity to participate in the Chinese market. The ability to directly invest in the second largest economy in the world is a very attractive proposition for our clients. While the Chinese economy no longer posts double digit growth figures, the market is still expanding and many of our clients are interested in investing locally. China A shares offer investors a good opportunity to further diversify their global portfolios.” Principal Global Investors' China strategy is supported through its regional headquarters in Singapore, a regional office in Hong Kong, the global headquarters in Des Moines, Iowa, and coordinated through a representative office in Beijing. The investment team responsible for the capability is located in Hong Kong, Singapore and the United States. The QFII license represents the next step in The Principal's ongoing involvement in China, an effort that dates back to 1994. In 2005, The Principal established a joint venture with China Construction Bank, the second largest commercial bank in China. The joint venture, China Construction Bank-Principal Asset Management (CCB-PAM), manages both equity and fixed income products for local clients. McCaughan added, “China Construction Bank has been instrumental in helping us through the application process. We would like to thank them for all the advice and guidance.” About Principal Global Investors:Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $242.2 billion in assets1 primarily for retirement plans and other institutional clients2. About the Principal Financial GroupThe Principal Financial Group® (The Principal ®)3 is a global investment management leader including retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $335.0 billion in assets under management4 and serves some 18.0 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 1 As of Dec. 31, 2011. 2 Principal Global Investors is the asset management arm of the Principal Financial Group ® (The Principal ®)* and includes the asset management operations of the following subsidiaries of The Principal: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Edge Asset Management, Inc.; Morley Financial Services Inc.; Finisterre Capital, LLP; Origin Asset Management, LLP; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Global Investors (Hong Kong) Ltd.; CIMB-Principal Islamic Asset Management Sdn. Bhd.; and the majority owned affiliates of Principal International, Inc. Assets under management includes assets managed by investment professionals of Principal Global Investors under dual employee arrangements with other subsidiaries of The Principal. * "The Principal Financial Group” and "The Principal” are registered trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group. 3 “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. 4 As of Dec. 31, 2011. Principal Financial GroupAdam Lackey,