1. Nationwide Financial Services
Sub-prime and Alt-A Disclosure
As of March 31, 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 investment in securities that contain Sub-prime collateral are highly rated. As of March 31,
2008, 85% of the securities containing Sub-prime collateral were rated AA or better. In addition, 73.3% of Sub-
prime collateral 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 March 31,
2008:
% of
estimated
Estimated fair value
(dollars in millions) fair value total
Government agency 3,693.4$ 34.4
Prime 1,458.5 13.6
Alt-A 2,041.4 19.0
Sub-prime 726.0 6.9
Non-residential mortgage collateral 2,802.2 26.1
Total 10,721.5$ 100.0
%of %of
estimated estimated
Estimated fairvalue Estimated fairvalue
(dollarsinmillions) fairvalue total fairvalue total
AAA 2,018.4$ 98.9 460.0$ 63.4
AA 23.0 1.1 157.1 21.6
A - - 89.7 12.4
BBB - - 5.0 0.6
BBandbelow - - 14.2 2.0
Total 2,041.4$ 100.0 726.0$ 100.0
Alt-A Sub-prime
%of %of
estimated estimated
Estimated fairvalue Estimated fairvalue
(dollarsinmillions) fairvalue total fairvalue total
Pre-2005 489.1$ 24.0 439.4$ 60.5
2005 663.9 32.5 93.3 12.8
2006 474.8 23.3 160.9 22.2
2007 413.6 20.2 32.4 4.5
Total 2,041.4$ 100.0 726.0$ 100.0
Alt-A Sub-prime