If you have questions, please contact the RiverSource Sales Consulting Group at (800) ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

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1 The RiverSource SM variable annuity, issued by American Enterprise Life Insurance Company, performance figures below do not reflect the most current month end figures, due to technology issues. We are working to provide updated performance. Please check back soon for current information. If you have questions, please contact the RiverSource Sales Consulting Group at (800) Variable Annuities: ARE NOT A DEPOSIT OF ANY BANK OR ANY BANK AFFILIATE ARE NOT FDIC INSURED ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY ARE NOT BANK GUARANTEED MAY LOSE VALUE American Enterprise Life Insurance Company (Distributor), Member NASD, a wholly-owned subsidiary of Ameriprise Financial, Inc (Ameriprise Financial). RiverSource SM insurance and annuity branded products are issued by American Enterprise Life Insurance Company, an Ameriprise Financial company. For broker-dealer use only. Not approved for use with the public Ameriprise Financial, Inc. All rights reserved

2 Issued by American Enterprise Life Insurance Company (AEL) A Flexible-Premium, Deferred Combination Fixed/Variable Annuity Performance for Annuities for the Quarter End 6/30/06 and Month End 7/31/06. The performance information shown represent past performance and is no guarantee of future results. The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information shown. You may obtain performance information current to the most recent month-end by calling the AEL Customer Service line at (800) This information is authorized for use when preceded or accompanied by a current annuity prospectus. You should consider the investment objectives, risks, charges and expenses of the underlying investment options carefully before investing. For a free copy of the underlying investment s prospectus, which contains this and other information, call (800) Read the prospectus carefully before you invest. We show actual performance from the date the subaccounts began investing in the funds. We also show performance from the commencement date of the funds as if the annuity existed at that time, which it did not. Variable annuities are insurance products that are complex long-term investment vehicles. Before you invest, be sure to ask your investment professional about the variable annuity s features, benefits, risks and fees, and whether the variable annuity is appropriate for you, based upon your financial situation and objectives. The benefits of tax deferral may outweigh the costs of a variable annuity only if you hold it as a long-term investment. Variable annuities are subject to market risk including the potential loss of principal invested. Current applicable charges deducted from performance include a 1.40% total base variable account expense, a $40 contract administrative charge, a 0.70% Guaranteed Minimum Income Benefit Rider fee based on benefit base, a 0.30% Enhanced Death Benefit Rider fee, and a declining 8% withdrawal charge on purchase payments less than five years old. Premium taxes are not reflected in these total returns. *An investment in the Cash Management Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. The 7-day yields shown reflect more closely the earnings of the fund than the total return numbers. Short-term yields may be higher or lower than the figures shown. Contact your advisor or call (800) for the most current yield. The Evergreen Privilege SM Variable Annuity is issued by American Enterprise Life Insurance Company, Administrative Offices in Minneapolis, MN. It is offered through Wachovia Securities, Inc. LLC, Member NYSE/SIPC, a registered broker-dealer and separate non-bank affiliate of Wachovia Corporation, and through Wachovia Insurance Agency, Inc. Evergreen Investments SM is a service mark of Evergreen Investments Management, LLC. Copyright 2006, Evergreen Investment Management Company, LLC. Ameriprise Financial Services, Inc. (Distributor), Member NASD, a wholly-owned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). RiverSource SM insurance and annuity branded products are issued by American Enterprise Life Insurance Company, an Ameriprise Financial company. Most annuities have a tax-deferred feature. So do many retirement plans under the Internal Revenue Code. As a result, when you use an annuity to fund a retirement plan that is tax-deferred, your annuity will not provide any necessary or additional tax deferral for that retirement plan. But annuities do have features other than tax deferral that may help you reach your retirement goals. You should consult your tax advisor prior to making a purchase for an explanation of the tax implications to you. VARIABLE ANNUITIES: ARE NOT A DEPOSIT OF ANY BANK OR ANY BANK AFFILIATE ARE NOT FDIC INSURED ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY ARE NOT BANK GUARANTEED MAY LOSE VALUE Page 1 of 5

3 Performance for Annuities for the Quarter End 6/30/06 and Month End 7/31/06. Riders = Enhanced Death Benefit Rider; Guaranteed Minimum Income Benefit Rider. Average Annual Total Returns Since Average Annual Total Returns of the Sub- Commencement of the Subaccount account Since Commencement of the Fund Sub- 1-month 3-month YTD As of Quarter End As of Quarter End account Fund Through Through Through Since Since Subaccount Inception Inception 7/31/06 7/31/06 7/31/06 1-yr. 3-yr. 5-yr. 10-yr. Inception** 1-yr. 3-yr. 5-yr. 10-yr. Inception** CASH EQUIVALENTS* RiverSource SM Variable Portfolio - Cash Management Fund 1 No riders, without surrender charges (02/21/95) (10/13/81) 0.22% 0.75% 1.59% 2.16% 0.39% 0.21% 1.90% 2.10% 2.16% 0.39% 0.21% 1.90% 3.98% Riders, with surrender charges (03/01/02) (10/13/81) -7.08% -6.75% -6.29% -6.18% -2.83% -1.03% -6.18% -2.83% -0.93% 0.74% 2.86% RiverSource SM Variable Portfolio-Cash Management Fund s seven-day simple yield was 4.60% and its seven-day compound yield was 4.70% as of quarter-end 6/30/06, as of month-end 7/31/06, its seven-day simple yield was 4.86% and its seven-day compound yield was 4.98%. LONG-/INTERMEDIATE-TERM FIXED INCOME Evergreen VA Core Bond Fund - Class 2 No riders, without surrender charges (07/31/02) (07/31/02) 1.02% 0.87% -0.41% -2.47% 0.23% 1.86% -2.47% 0.23% 1.86% Riders, with surrender charges (07/31/02) (07/31/02) -6.35% -6.64% -8.11% % -2.97% -0.62% % -2.97% -0.62% RiverSource SM Variable Portfolio - Diversified Bond Fund 1 No riders, without surrender charges (02/21/95) (10/13/81) 1.11% 0.90% -0.19% -2.05% 0.49% 2.48% 3.24% 4.29% -2.05% 0.49% 2.48% 3.24% 7.48% Riders, with surrender charges (03/01/02) (10/13/81) -6.26% -6.61% -7.91% % -2.71% 0.87% % -2.71% 1.41% 2.12% 6.40% MULTI-SECTOR FIXED INCOME 2, 3, 4 Evergreen VA Strategic Income Fund - Class 2 No riders, without surrender charges (07/31/02) (03/06/97) 0.90% -0.43% 0.50% -1.42% 2.50% 6.65% -1.42% 2.50% 7.13% 4.50% Riders, with surrender charges (07/31/02) (03/06/97) -6.45% -7.83% -7.28% -9.47% -0.73% 4.09% -9.47% -0.73% 6.05% 3.39% HIGH-YIELD FIXED INCOME 2, 3, 4 Evergreen VA High Income Fund - Class 2 No riders, without surrender charges (07/31/02) (06/30/99) 0.68% -0.71% 1.55% 1.33% 4.61% 6.83% 1.33% 4.61% 6.41% 5.79% Riders, with surrender charges (07/31/02) (06/30/99) -6.66% -8.09% -6.32% -6.93% 1.33% 4.27% -6.93% 1.33% 5.34% 4.72% BALANCED Evergreen VA Balanced Fund - Class 2 2 No riders, without surrender charges (07/31/02) (03/01/96) 0.10% -2.71% 0.29% 3.59% 5.02% 5.47% 3.59% 5.02% 1.49% 4.70% 4.53% Riders, with surrender charges (07/31/02) (03/01/96) -7.19% -9.93% -7.47% -4.86% 1.73% 2.94% -4.86% 1.73% 0.33% 3.56% 3.41% LARGE CAP STOCK AIM VI Basic Value Fund, Series II Shares 5, 6 No riders, without surrender charges (07/31/02) (09/10/01) -0.51% -5.20% -0.32% 5.10% 9.99% 9.55% 5.10% 9.99% 3.25% Riders, with surrender charges (07/31/02) (09/10/01) -7.75% % -8.03% -3.48% 6.55% 6.92% -3.48% 6.55% 2.06% 2, 3, 4 Evergreen VA Fundamental Large Cap Fund - Class 2 No riders, without surrender charges (08/30/02) (03/01/96) -0.41% -4.60% 0.46% 6.39% 10.43% 9.62% 6.39% 10.43% 2.77% 6.48% 6.85% Riders, with surrender charges (08/30/02) (03/01/96) -7.65% % -7.31% -2.30% 6.97% 6.96% -2.30% 6.97% 1.59% 5.36% 5.72% Evergreen VA Omega Fund - Class 2 2, 7 No riders, without surrender charges (07/31/02) (03/06/97) -4.06% % -8.56% 2.05% 6.90% 8.14% 2.05% 6.90% -1.17% 3.99% Riders, with surrender charges (07/31/02) (03/06/97) % % % -6.27% 3.56% 5.55% -6.27% 3.56% -2.42% 2.56% FTVIPT Mutual Shares Securities Fund - Class 2 8 No riders, without surrender charges (09/22/99) (11/08/96) 0.36% -1.58% 5.36% 12.88% 12.73% 5.30% 8.29% 12.88% 12.73% 5.30% 8.11% Riders, with surrender charges (03/03/00) (11/08/96) -6.95% -8.89% -2.83% 3.62% 9.18% 4.15% 7.50% 3.62% 9.18% 4.15% 7.02% RiverSource SM Variable Portfolio - Diversified Equity Income Fund 1 No riders, without surrender charges (03/03/00) (09/15/99) -0.31% -3.39% 7.57% 19.45% 19.74% 8.51% 8.70% 19.45% 19.74% 8.51% 7.18% Riders, with surrender charges (03/03/00) (09/15/99) -7.56% % -0.82% 9.60% 15.95% 7.34% 7.56% 9.60% 15.95% 7.34% 5.97% RiverSource SM Variable Portfolio - Large Cap Equity Fund 1 Effective 3/17/06, RiverSource SM Variable Portfolio - New Dimensions Fund merged into RiverSource SM Variable Portfolio - Large Cap Equity Fund. No riders, without surrender charges (02/21/95) (10/13/81) 0.77% -3.54% 1.64% 4.24% 6.74% -0.03% 2.99% 4.49% 4.24% 6.74% -0.03% 2.99% 8.82% Riders, with surrender charges (03/03/00) (10/13/81) -6.57% % -7.03% -5.06% 3.40% -1.26% -6.67% -5.06% 3.40% -1.26% 1.72% 7.65% MID CAP STOCK 5, 9, 10 Fidelity VIP Mid Cap Portfolio Service Class 2 No riders, without surrender charges (05/01/01) (12/28/98) -1.69% -7.08% 4.13% 20.56% 24.07% 13.32% 12.65% 20.56% 24.07% 13.32% 18.01% Riders, with surrender charges (05/01/01) (12/28/98) -8.84% % -3.96% 10.61% 20.15% 12.15% 11.48% 10.61% 20.15% 12.15% 16.80% Footnotes are placed at the end of the Performance Summary. Page 2 of 5

4 Performance for Annuities for the Quarter End 6/30/06 and Month End 7/31/06. Riders = Enhanced Death Benefit Rider; Guaranteed Minimum Income Benefit Rider. Average Annual Total Returns Since Average Annual Total Returns of the Sub- Commencement of the Subaccount account Since Commencement of the Fund Sub- 1-month 3-month YTD As of Quarter End As of Quarter End account Fund Through Through Through Since Since Subaccount Inception Inception 7/31/06 7/31/06 7/31/06 1-yr. 3-yr. 5-yr. 10-yr. Inception** 1-yr. 3-yr. 5-yr. 10-yr. Inception** INTERNATIONAL STOCK 2, 3, 4, 7 Evergreen VA International Equity Fund - Class 2 No riders, without surrender charges (07/31/02) (08/17/98) 0.66% -4.33% 8.77% 24.69% 20.61% 15.08% 24.69% 20.61% 8.91% 5.95% Riders, with surrender charges (07/31/02) (08/17/98) -6.67% % 0.29% 14.37% 16.79% 12.29% 14.37% 16.79% 7.75% 4.75% 5, 11 Putnam VT International Equity Fund - Class IB Shares No riders, without surrender charges (09/22/99) (01/02/97) 0.77% -4.83% 10.22% 23.52% 18.53% 5.52% 4.54% 23.52% 18.53% 5.52% 8.10% Riders, with surrender charges (03/03/00) (01/02/97) -6.57% % 1.62% 13.30% 14.77% 4.30% -2.83% 13.30% 14.77% 4.30% 6.84% SMALL CAP STOCK Evergreen VA Growth Fund - Class 2 2, 7 No riders, without surrender charges (07/31/02) (03/03/98) -6.76% % -1.94% 11.63% 13.20% 13.81% 11.63% 13.20% 3.35% 3.62% Riders, with surrender charges (07/31/02) (03/03/98) % % -9.52% 2.48% 9.64% 11.08% 2.48% 9.64% 2.15% 2.37% Evergreen VA Special Values Fund - Class 2 2, 7 No riders, without surrender charges (07/31/02) (05/01/98) -2.32% -5.62% 5.58% 13.92% 19.15% 14.35% 13.92% 19.15% 9.74% 10.42% Riders, with surrender charges (07/31/02) (05/01/98) -9.41% % -2.63% 4.57% 15.39% 11.60% 4.57% 15.39% 8.61% 9.27% Oppenheimer Main Street Small Cap Fund/VA, Service Shares 10 No riders, without surrender charges (07/31/02) (05/01/98) -4.49% -9.73% 2.33% 16.21% 18.82% 16.88% 16.21% 18.82% 9.93% 7.00% Riders, with surrender charges (07/31/02) (05/01/98) % % -5.60% 6.65% 15.08% 14.07% 6.65% 15.08% 8.80% 5.82% RiverSource SM 1, 10 Variable Portfolio - Small Cap Value Fund No riders, without surrender charges (05/01/02) (08/14/01) -2.56% -5.67% 6.40% 15.37% 18.32% 9.13% 15.37% 18.32% 11.30% Riders, with surrender charges (05/01/02) (08/14/01) -9.63% % -1.88% 5.89% 14.59% 7.97% 5.89% 14.59% 10.17% Page 3 of 5

5 Issued by American Enterprise Life Insurance Company (AEL) A fund underlying your contract in which a subaccount invests may have a name, portfolio manager, objectives, strategies and characteristics that are the same or substantially similar to those of a publiclytraded retail mutual fund. Despite these similarities, an underlying fund is not the same as any publicly-traded retail mutual fund. Each underlying fund will have its own unique portfolio holdings, fees, operating expenses and operating results. The results of each underlying fund may differ significantly from any publicly- traded retail mutual fund. AEL offers several different annuities which your investment professional may be authorized to offer you. Each annuity has different features and benefits that may be appropriate for you based on your financial situation and needs, your age and how you intend to use the annuity. The different features and benefits may include the investment and fund manager options, variations in interest rate amount and guarantees, credits, withdrawal charge schedules and access to annuity account values. The fees and charges may also be different between each annuity. Small Cap: Stocks of small-capitalization companies involve substantial risk. Historically, these stocks have experienced greater price volatility than stocks of larger companies, and they can be expected to do so in the future. Mid-cap: Stocks of mid-capitalization companies involve substantial risk. Historically, these stocks have experienced greater price volatility than stocks of larger companies, and they can be expected to do so in the future. Technology: Investments in a technology fund are more vulnerable to price fluctuation as a result of the narrow focus of technology investing and the fact that the products of companies in which the fund invests may be subject to rapid obsolescence. International/Global: International investing involves increased risk and volatility, not typically associated with domestic investing, due to changes in currency exchange rates, foreign government regulations, differences in auditing and accounting standards, potential political and economic instability, limited liquidity, and volatile prices. The risks of international investing are particularly significant in emerging markets. Bond funds: There are risks associated with an investment in a bond fund, including the impact of interest rates, credit, and inflation. These and other risk considerations are discussed in the fund's prospectus. In general, bond prices rise when interest rates fall and vice versa. This effect is usually more pronounced for longer-term securities. High-Yield Bond funds: High-yield funds invest in lower-rated bonds, which generally have more volatile prices and carry more risk to principal and income than investment grade securities. Tax-exempt funds: Income from tax-exempt funds may be subject to state and local taxes and a portion of income may be subject to the federal and/or state alternative minimum tax for certain investors. Federal income tax rules will apply to any capital gains distribution. **If subaccount or fund is less than 1 year old, the reported returns are cumulative, not annualized. 1 As of Oct. 1, 2005, the RiverSource brand replaced American Express and AXP in the name of the American Express Variable Portfolio Funds. In addition to the brand name change, the following funds changed their names: AXP Variable Portfolio - Equity Select Fund changed its name to RiverSource SM Variable Portfolio - Mid Cap Growth Fund, AXP Variable Portfolio - Managed Fund changed its name to RiverSource SM Variable Portfolio - Balanced Fund, AXP Variable Portfolio - Partners Select Value Fund changed its name to RiverSource SM Variable Portfolio - Select Value Fund, AXP Variable Portfolio - Partners Small Cap Value Fund changed its name to RiverSource SM Variable Portfolio - Small Cap Value Fund, AXP Variable Portfolio - Threadneedle Emerging Markets Fund changed its name to RiverSource SM Variable Portfolio - Emerging Markets Fund and AXP Variable Portfolio - Threadneedle International Fund changed its name to RiverSource SM Variable Portfolio - International Opportunity Fund. Page 4 of 5 2 Historical performance shown for Class 2 prior to its inception is based on the performance of Class 1, the original class offered. These historical returns have not been adjusted to reflect the effect of the 0.25% 12b-1 fees applicable to Class 2 shares. Class 1 does not pay 12b-1 fees. If these fees had been reflected, returns would have been lower. The investment return and principal value of an investment will fluctuate so that investors shares, when redeemed, may be worth more or less than their original cost. Performance includes the reinvestment of income dividends and capital gain distributions. 3 Funds that invest in high-yield, lowerrated bonds may contain more risk due to the increased possibility of default. 4 Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability and foreign currency fluctuations. 5 There are special risk considerations associated with international investing related to market, currency, economic, political and other factors. 6 Performance shown for periods prior to the inception date of the Series II class of shares reflect the historical results of the Series I class, adjusted to reflect the impact that the Series II class Rule 12b-1 plan would have had if the Series II class had then existed. The Series I and Series II share classes invest in the same portfolio of securities and will have substantially similar performance, except to the extent that expenses borne by each class differ. 7 Smaller capitalization stock investing may offer the potential for greater longterm results, however, it is also generally associated with greater price volatility due to the higher risk of failure. 8 Ongoing stock market volatility can dramatically change the fund s shortterm performance; current results may differ. Because Class 2 shares were not offered until Jan. 6, 1999, standardized Class 2 Fund performance for prior periods represents historical results of Class 1 shares. For periods beginning Jan. 6, 1999 Class 2 s results reflect an additional 12b-1 fee expense, which also affects future performance.

6 9 Initial offering of the Service Class 2 of each fund took place on Jan. 12, Returns prior to Jan. 12, 2000 through Nov. 3, 1997 (Jan. 12, 2000 through Dec. 28, 1998 for VIP Mid Cap) are those of the Service Class, which reflect a 12b-1 fee of 0.10%. Service Class 2 returns prior to Nov. 3, 1997 (or Dec. 28, 1998 for VIP Mid Cap) are those of the Initial Class, which has no 12b-1 fee. If Service Class 2's 12b-1 fee of 0.25% had been reflected, returns prior to Jan. 12, 2000 would have been lower. 10 Stocks of small- or medium-sized companies may be subject to more abrupt or erratic price movements than stocks of larger companies. Some of these companies also have fewer financial resources. 11 Performance information for Class IB shares for periods prior to April 30, 1998 are based on the performance of the fund's Class IA shares (not offered as an investment option) adjusted to reflect the fees paid by Class IB shares, including a Rule 12b-1 fee of 0.25% restated to reflect an increase in 12b-1 fees effective April 30, American Enterprise Life Insurance Company California State Insurance License Number American Enterprise Life Insurance Company 829 Ameriprise Financial Center Minneapolis, MN Ameriprise Financial, Inc. All rights reserved. Ameriprise Financial Services, Inc. (Distributor), Member NASD, a whollyowned subsidiary of Ameriprise Financial, Inc. (Ameriprise Financial). RiverSource SM insurance and annuity branded products are issued by American Enterprise Life Insurance Company, an Ameriprise Financial company. Page 5 of 5