Evergreen Pathways SM Select Variable Annuity (Contract Option C)

Evergreen Pathways SM Select Variable Annuity (Contract Option C) Issued by RiverSource Life Insurance Company (RiverSource Life) A Flexible-Premium, Deferred Variable Annuity Performance for Annuities for the Quarter End 12/31/06. 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 RiverSource Life Customer Service line at (800) 333-3437. 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 about variable annuities, call (800) 333-3437. 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: Least Expensive: a 1.80% total base variable account expense and a $40 contract administrative charge. Most Expensive: 1.85% total base variable account expense, a $40 contract administrative charge, a 0.15% Maximum Anniversary Value Benefit Rider fee, MAV fee. Contract Option C does not have withdrawal charges, therefore withdrawal charges are not reflected in the total returns. Premium taxes are not reflected in these total returns. Riders may or may not be available in all states. Keep in mind that because an annuity is a tax-deferred vehicle, in most cases it is subject to a 10% IRS penalty if the assets are withdrawn before age 59 1 /2. *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) 333-3437 for the most current yield. The Evergreen Pathways SM Select Variable Annuity is issued by RiverSource 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. 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 8

The models and performance figures shown are for the dynamic version of the Portfolio Navigator program, which became available for new enrollments as of May 1, 2006. Please see page 3 for additional important information Evergreen Pathways Select SM Variable Annuity (Contract Option C) Portfolio Navigator Asset Allocation Model Performance as of Dec. 31, 2006 Assumes initial investment May 1, 2006. 1-mo. Through 3-mo. Through YTD Through 1-yr. Model 12/31/06 12/31/06 12/31/06 12/31/06 3-yr. 5-yr. 10-yr. Conservative -0.08% 2.24% Moderately Conservative 0.11% 3.29% Moderate 0.30% 4.13% Moderately Aggressive 0.44% 5.09% Aggressive 0.58% 6.10% Conservative Model & Alloc. % CASH EQUIVALENTS RiverSource SM VP Cash Management Fund 11% SHORT-TERM FIXED INCOME RiverSource SM VP Short Duration US Government Fund 9% Bond Fund 24% Protected Securities Fund 13% Fund - Class 2 7% Securities Fund - Class 2 8% Opportunities Fund 7% Evergreen VA Fundamental Large Cap Class 2 3% Evergreen VA Omega Fund Class 2 2% Service Class 2 4% Income Fund 3% Class II Shares 3% Goldman Sachs VIT Mid Cap Value Fund 1% Portfolio (Class B) 1% Class 2 2% Putnam VT Small Cap Value, IB 1% Van Kampen UIF US Real Estate Portfolio Class II Shares 1% Moderately Conservative Model & Alloc. % CASH EQUIVALENTS RiverSource SM VP Cash Management Fund 1% SHORT-TERM FIXED INCOME RiverSource SM VP Short Duration US Government Fund 5% Bond Fund 24% Protected Securities Fund 12% Fund - Class 2 6% Securities Fund - Class 2 7% Opportunities Fund 9% Evergreen VA Fundamental Large Cap Class 2 4% Evergreen VA Omega Fund Class 2 4% Service Class 2 8% Income Fund 6% Class II Shares 5% Goldman Sachs VIT Mid Cap Value Fund 1% Portfolio (Class B) 2% Class 2 2% RiverSource SM VP Emerging Markets Fund 1% Putnam VT Small Cap Value, IB 2% Van Kampen UIF US Real Estate Portfolio Class II Shares 1% Moderate Model & Alloc. % Bond Fund 19% Protected Securities Fund 10% Fund - Class 2 5% Securities Fund - Class 2 6% Opportunities Fund 8% Evergreen VA Fundamental Large Cap Class 2 6% Evergreen VA Omega Fund Class 2 4% Service Class 2 10% Income Fund 7% Class II Shares 7% Fidelity Mid Cap Portfolio, Service Class 22% Goldman Sachs VIT Mid Cap Value Fund 4% Portfolio (Class B) 3% Class 2 4% RiverSource SM VP Emerging Markets Fund 2% Putnam VT Small Cap Value, IB 2% Dreyfus IP Technology Growth Portfolio Service Shars 1% Moderately Aggressive Model & Alloc. % Bond Fund 11% Protected Securities Fund 7% Fund - Class 2 4% Securities Fund - Class 2 5% Opportunities Fund 5% Evergreen VA Fundamental Large Cap Class 2 8% Evergreen VA Omega Fund Class 2 9% Service Class 2 11% Income Fund 8% Class II Shares 8% Fidelity Mid Cap Portfolio, Service Class 23% Goldman Sachs VIT Mid Cap Value Fund 5% Portfolio (Class B) 4% Class 2 4% RiverSource SM VP Emerging Markets Fund 3% Putnam VT Small Cap Value, IB 3% Dreyfus IP Technology Growth Portfolio Service Shars 2% Aggressive Model & Alloc. % Bond Fund 3% Protected Securities Fund 5% Fund - Class 2 2% Securities Fund - Class 2 2% Opportunities Fund 2% Evergreen VA Omega Fund Class 2 14% Service Class 2 13% Income Fund 12% Class II Shares 12% Fidelity Mid Cap Portfolio, Service Class 23% Goldman Sachs VIT Mid Cap Value Fund 7% Portfolio (Class B) 5% Class 2 6% RiverSource SM VP Emerging Markets Fund 4% Putnam VT Small Cap Value, IB 6% Wanger U.S. Smaller Companies 2% Dreyfus IP Technology Growth Portfolio Service Shars 2% Portfolio Navigator Asset Allocation Model performance data is calculated by multiplying each individual subaccount's performance by its allocated percentage within the model. Performance data represents past performance and is no guarantee of future results. The investment return and principal value of an investment in a variable annuity subaccount will fluctuate so that units of each subaccount when redeemed may be worth more or less than their original cost. Current applicable charges deducted from model performance include 1.80% total variable account expense and a $40 contract administrative charge. These returns do not include the deduction of a declining withdrawal charge schedule or additional charges for optional riders. Had these withdrawal charges or rider fees been shown, performance would have been lower. Asset allocation does not assure a profit or protect against loss in declining markets. Page 2 of 8

Portfolio Navigator Asset Allocation Model Performance as of Dec. 31, 2006 The Portfolio Navigator Program allows clients to allocate their contract value to an asset allocation model portfolio that consists of subaccounts that invest in underlying funds and may include Guarantee Period Accounts and/or the fixed account (if available under the Portfolio Navigator program). The Program also allows clients to periodically update their model portfolio or transfer to a new model portfolio. Prior to participating in the Program, clients should read the description of the Program contained in the prospectus for the variable annuity contract together with all information provided by their financial representative, as well as the Portfolio Navigator Asset Allocation Program Investment Adviser Disclosure Document. Portfolio Navigator model portfolio performance shown on page 2 is for the dynamic version of the Portfolio Navigator program, which was available for contracts issued beginning 5/1/2006. Model portfolios in the dynamic program are periodically reassessed and updated, typically annually, with new or revised subaccounts, allocation percentages, and/or asset classes. Contracts issued before 5/1/2006 may participate in the static version of the Portfolio Navigator program. The model portfolios used with the static program assumed a longer investment time-horizon and use different equity-bond targets than the model portfolios in the dynamic version of the program now offered. The static program did not use RiverSource Investments, LLC as an investment adviser. The program s inception date was 5/1/2004. Actual performance may vary depending on which version(s) of the model portfolio(s) were available and selected over the course of an individual client s participation in the program. Past performance is no guarantee of future results. There is no guarantee that investment objectives will be satisfied or that return expectations will be met. Page 3 of 8

Performance for Annuities for the Quarter End 12/31/06. Riders = Maximum Anniversary Value Death Benefit Rider, Benefit Protector SM Plus Death Benefit Rider, Income Assurer Benefit SM Rider - Greater of 5% Accumulation or MAV 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 12/31/06 12/31/06 12/31/06 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 No riders, without surrender charges (03/01/02) (10/13/81) 0.21% 0.69% 2.61% 2.61% 0.76% 0.08% 2.61% 0.76% 0.06% 1.54% 3.60% Riders, without surrender charges (04/30/04) (10/13/81) 0.10% 0.37% 1.32% 1.32% -0.30% 1.32% -0.58% -1.33% 0.10% 2.14% RiverSource SM Variable Portfolio-Cash Management Fund s seven-day simple yield was 4.52% and its seven-day compound yield was 4.63% as of quarter-end 12/31/06. SHORT-TERM FIXED INCOME RiverSource SM Variable Portfolio - Short Duration US Government Fund No riders, without surrender charges (03/01/02) (09/15/99) -0.12% 0.56% 1.99% 1.99% 0.26% 0.80% 1.99% 0.26% 0.87% 2.07% Riders, without surrender charges (04/30/04) (09/15/99) -0.22% 0.24% 0.69% 0.69% -0.81% 0.69% -1.09% -0.50% 0.70% American Century VP Inflation Protection, Class II No riders, without surrender charges (04/30/04) (12/31/02) -1.71% -1.03% -0.24% -0.24% 1.57% -0.24% 1.12% 1.76% Riders, without surrender charges (04/30/04) (12/31/02) -1.82% -1.34% -1.52% -1.52% 0.27% -1.52% -0.20% 0.43% Evergreen VA Core Bond Fund - Class 2 No riders, without surrender charges (07/31/02) (07/31/02) -0.82% 0.60% 2.10% 2.10% 1.45% 2.19% 2.10% 1.45% 2.19% Riders, without surrender charges (04/30/04) (07/31/02) -0.93% 0.28% 0.80% 0.80% 0.53% 0.80% 0.12% 0.85% Fidelity VIP Investment Grade Bond Portfolio Service Class 2 No riders, without surrender charges (04/30/04) (12/05/88) -0.78% 0.66% 2.27% 2.27% 1.98% 2.27% 1.55% 3.14% 4.13% 5.08% Riders, without surrender charges (04/30/04) (12/05/88) -0.89% 0.35% 0.98% 0.98% 0.67% 0.98% 0.22% 1.81% 2.78% 3.74% RiverSource SM Variable Portfolio - Diversified Bond Fund No riders, without surrender charges (03/01/02) (10/13/81) -0.31% 1.01% 2.55% 2.55% 1.81% 2.27% 2.55% 1.81% 2.33% 2.72% 7.05% Riders, without surrender charges (04/30/04) (10/13/81) -0.42% 0.69% 1.25% 1.25% 0.91% 1.25% 0.49% 0.99% 1.31% 5.71% RiverSource SM Variable Portfolio - Global Inflation Protected Securities Fund No riders, without surrender charges (05/01/06) (09/13/04) -1.99% -0.99% 2.47% -0.62% 1.14% Riders, without surrender charges (05/01/06) (09/13/04) -2.10% -1.31% 1.61% -1.90% -0.16% Fund - Class 2 1 No riders, without surrender charges (07/31/02) (03/06/97) -0.24% 2.25% 3.80% 3.80% 2.33% 6.57% 3.80% 2.33% 6.81% 4.37% Riders, without surrender charges (04/30/04) (03/06/97) -0.34% 1.93% 2.49% 2.49% 2.02% 2.49% 1.01% 5.47% 2.99% Securities Fund - Class 2 No riders, without surrender charges (04/30/04) (01/24/89) 0.43% 4.53% 10.76% 10.76% 7.66% 10.76% 5.91% 11.19% 5.47% 5.83% Riders, without surrender charges (04/30/04) (01/24/89) 0.32% 4.21% 9.37% 9.37% 6.32% 9.37% 4.57% 9.79% 4.06% 4.45% Evergreen VA High Income Fund - Class 2 1 No riders, without surrender charges (07/31/02) (06/30/99) 0.99% 3.12% 6.72% 6.72% 4.15% 7.11% 6.72% 4.15% 6.59% 5.87% Riders, without surrender charges (04/30/04) (06/30/99) 0.88% 2.79% 5.39% 5.39% 2.83% 5.39% 2.82% 5.25% 4.53% RiverSource SM Variable Portfolio - Income Opportunities Fund No riders, without surrender charges (06/01/04) (06/01/04) 0.84% 3.02% 6.05% 6.05% 6.40% 6.05% 6.40% Riders, without surrender charges (06/01/04) (06/01/04) 0.73% 2.69% 4.73% 4.73% 5.08% 4.73% 5.08% BALANCED FTVIPT Franklin Income Securities Fund - Class 2 2 No riders, without surrender charges (03/03/03) (01/24/89) 0.95% 5.24% 16.13% 16.13% 9.02% 14.58% 16.13% 9.02% 10.35% 7.68% 8.61% Riders, without surrender charges (04/30/04) (01/24/89) 0.85% 4.91% 14.68% 14.68% 8.97% 14.68% 7.65% 8.96% 6.32% 7.24% AllianceBernstein VPS Growth and Income Portfolio (Class B) 3 Effective 5/1/06, previously AllianceBernstein VP Growth and Income Portfolio (Class B). No riders, without surrender charges (08/30/02) (01/14/91) 2.94% 6.89% 14.89% 14.89% 8.84% 11.36% 14.89% 8.84% 5.02% 8.69% 9.61% Riders, without surrender charges (04/30/04) (01/14/91) 2.84% 6.55% 13.46% 13.46% 8.21% 13.46% 7.48% 3.60% 7.30% 8.20% American Century VP Ultra, Class II No riders, without surrender charges (04/30/04) (05/01/01) 0.25% 3.59% -5.12% -5.12% 0.68% -5.12% 1.06% -0.86% -1.81% Riders, without surrender charges (04/30/04) (05/01/01) 0.14% 3.26% -6.37% -6.37% -0.63% -6.37% -0.25% -2.28% -3.29% Footnotes are placed at the end of the Performance Summary. Page 4 of 8

Performance for Annuities for the Quarter End 12/31/06. Riders = Maximum Anniversary Value Death Benefit Rider, Benefit Protector SM Plus Death Benefit Rider, Income Assurer Benefit SM Rider - Greater of 5% Accumulation or MAV 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 12/31/06 12/31/06 12/31/06 1-yr. 3-yr. 5-yr. 10-yr. Inception** 1-yr. 3-yr. 5-yr. 10-yr. Inception** (CONT.) Evergreen VA Fundamental Large Cap Fund - Class 2 1 No riders, without surrender charges (08/30/02) (03/01/96) 1.05% 5.09% 10.38% 10.38% 8.04% 10.44% 10.38% 8.04% 5.95% 5.98% 7.07% Riders, without surrender charges (04/30/04) (03/01/96) 0.94% 4.76% 9.01% 9.01% 8.68% 9.01% 6.69% 4.56% 4.58% 5.67% Oppenheimer Capital Appreciation Fund/VA, Service Shares No riders, without surrender charges (08/30/02) (04/03/85) -0.64% 4.05% 5.76% 5.76% 4.47% 8.37% 5.76% 4.47% 0.94% 6.39% 9.63% Riders, without surrender charges (04/30/04) (04/03/85) -0.74% 3.72% 4.44% 4.44% 4.52% 4.44% 3.15% -0.52% 4.91% 8.16% RiverSource SM Variable Portfolio - Diversified Equity Income Fund No riders, without surrender charges (03/01/02) (09/15/99) 1.36% 7.15% 17.60% 17.60% 15.02% 11.21% 17.60% 15.02% 10.90% 7.62% Riders, without surrender charges (04/30/04) (09/15/99) 1.25% 6.81% 16.14% 16.14% 15.63% 16.14% 13.59% 9.47% 6.15% RiverSource SM Variable Portfolio - Growth Fund No riders, without surrender charges (04/30/04) (09/15/99) 1.96% 6.44% 9.09% 9.09% 8.76% 9.09% 7.41% 1.41% -4.98% Riders, without surrender charges (04/30/04) (09/15/99) 1.85% 6.10% 7.74% 7.74% 7.40% 7.74% 6.07% -0.07% -6.96% RiverSource SM Variable Portfolio - Large Cap Equity Fund 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 (03/03/03) (10/13/81) 2.01% 6.77% 13.22% 13.22% 7.08% 13.36% 13.22% 7.08% 3.59% 3.46% 8.75% Riders, without surrender charges (04/30/04) (10/13/81) 1.90% 6.44% 11.81% 11.81% 7.17% 11.81% 5.73% 2.16% 1.88% 7.30% RiverSource SM Variable Portfolio - Large Cap Value Fund No riders, without surrender charges (04/30/04) (02/04/04) 2.43% 7.05% 16.92% 16.92% 11.10% 16.92% 9.61% Riders, without surrender charges (04/30/04) (02/04/04) 2.32% 6.72% 15.48% 15.48% 9.72% 15.48% 8.24% RiverSource SM Variable Portfolio - S&P 500 Index Fund No riders, without surrender charges (04/30/04) (05/01/00) 1.21% 6.08% 13.20% 13.20% 9.22% 13.20% 7.93% 3.78% -1.22% Riders, without surrender charges (04/30/04) (05/01/00) 1.10% 5.75% 11.79% 11.79% 7.85% 11.79% 6.58% 2.35% -2.88% Class II Shares 4 No riders, without surrender charges (08/30/02) (04/30/99) 2.64% 5.50% 13.97% 13.97% 10.36% 12.91% 13.97% 10.36% 6.43% 5.87% Riders, without surrender charges (04/30/04) (04/30/99) 2.53% 5.17% 12.55% 12.55% 9.57% 12.55% 8.98% 5.03% 4.46% MID-CAP STOCK AIM VI Capital Development Fund, Series II Shares 5 No riders, without surrender charges (08/30/02) (05/01/98) -0.65% 6.49% 14.18% 14.18% 11.52% 13.50% 14.18% 11.52% 7.21% 5.48% Riders, without surrender charges (04/30/04) (05/01/98) -0.75% 6.17% 12.76% 12.76% 10.82% 12.76% 10.13% 5.80% 4.04% Fidelity VIP Mid Cap Portfolio Service Class 2 6 No riders, without surrender charges (03/01/02) (12/28/98) -1.02% 6.48% 10.39% 10.39% 16.14% 14.07% 10.39% 16.14% 13.45% 17.01% Riders, without surrender charges (04/30/04) (12/28/98) -1.12% 6.14% 9.02% 9.02% 16.69% 9.02% 14.67% 12.01% 15.53% Goldman Sachs VIT Mid Cap Value Fund No riders, without surrender charges (03/03/03) (05/01/98) -0.32% 8.12% 14.09% 14.09% 16.05% 21.11% 14.09% 16.05% 13.03% 9.34% Riders, without surrender charges (04/30/04) (05/01/98) -0.42% 7.78% 12.67% 12.67% 15.32% 12.67% 14.60% 11.60% 7.91% RiverSource SM Variable Portfolio - Mid Cap Growth Fund No riders, without surrender charges (08/30/02) (05/01/01) -0.70% 5.86% -1.86% -1.86% 4.38% 8.01% -1.86% 4.38% 3.00% 2.24% Riders, without surrender charges (04/30/04) (05/01/01) -0.81% 5.53% -3.13% -3.13% 3.88% -3.13% 3.07% 1.63% 0.82% RiverSource SM Variable Portfolio - Select Value Fund No riders, without surrender charges (04/30/04) (02/04/04) 0.02% 5.30% 13.73% 13.73% 8.28% 13.73% 8.05% Riders, without surrender charges (04/30/04) (02/04/04) -0.08% 4.97% 12.33% 12.33% 6.93% 12.33% 6.70% MULTI-CAP STOCK American Century VP Value, Class II 7 No riders, without surrender charges (04/30/04) (05/01/96) 1.59% 6.76% 16.35% 16.35% 10.57% 16.35% 10.34% 7.77% 8.79% 9.27% Riders, without surrender charges (04/30/04) (05/01/96) 1.49% 6.42% 14.88% 14.88% 9.18% 14.88% 8.96% 6.38% 7.41% 7.88% Evergreen VA Omega Fund - Class 2 1 No riders, without surrender charges (07/31/02) (03/06/97) -0.77% 6.17% 3.81% 3.81% 3.52% 8.98% 3.81% 3.52% 2.17% 4.36% Riders, without surrender charges (04/30/04) (03/06/97) -0.88% 5.84% 2.50% 2.50% 2.99% 2.50% 2.20% 0.75% 2.67% Fidelity VIP Contrafund Portfolio Service Class 2 6 No riders, without surrender charges (08/30/02) (01/03/95) -0.04% 5.98% 9.44% 9.44% 12.34% 13.36% 9.44% 12.34% 9.64% 8.98% 11.93% Riders, without surrender charges (04/30/04) (01/03/95) -0.14% 5.64% 8.07% 8.07% 11.87% 8.07% 10.94% 8.25% 7.54% 10.46% Page 5 of 8

Performance for Annuities for the Quarter End 12/31/06. Riders = Maximum Anniversary Value Death Benefit Rider, Benefit Protector SM Plus Death Benefit Rider, Income Assurer Benefit SM Rider - Greater of 5% Accumulation or MAV 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 12/31/06 12/31/06 12/31/06 1-yr. 3-yr. 5-yr. 10-yr. Inception** 1-yr. 3-yr. 5-yr. 10-yr. Inception** SMALL-CAP STOCK Evergreen VA Growth Fund - Class 2 1 No riders, without surrender charges (07/31/02) (03/03/98) -0.09% 6.97% 8.66% 8.66% 8.15% 12.67% 8.66% 8.15% 4.31% 3.48% Riders, without surrender charges (04/30/04) (03/03/98) -0.19% 6.63% 7.30% 7.30% 8.56% 7.30% 6.80% 2.88% 1.98% Evergreen VA Special Values Fund - Class 2 1 No riders, without surrender charges (07/31/02) (05/01/98) 0.64% 8.45% 19.03% 19.03% 15.06% 14.79% 19.03% 15.06% 10.64% 10.67% Riders, without surrender charges (04/30/04) (05/01/98) 0.54% 8.11% 17.55% 17.55% 14.44% 17.55% 13.62% 9.22% 9.25% Oppenheimer Main Street Small Cap Fund/VA, Service Shares No riders, without surrender charges (07/31/02) (05/01/98) 0.11% 7.90% 12.61% 12.61% 12.41% 15.81% 12.61% 12.41% 10.68% 6.87% Riders, without surrender charges (04/30/04) (05/01/98) 0.01% 7.56% 11.20% 11.20% 12.89% 11.20% 10.99% 9.26% 5.43% Putnam VT Small Cap Value Fund - Class IB Shares No riders, without surrender charges (04/30/04) (04/30/99) 0.34% 8.19% 15.20% 15.20% 14.84% 15.20% 14.50% 12.10% 13.06% Riders, without surrender charges (04/30/04) (04/30/99) 0.24% 7.85% 13.76% 13.76% 13.40% 13.76% 13.07% 10.66% 11.61% RiverSource SM Variable Portfolio - Small Cap Value Fund No riders, without surrender charges (07/31/02) (08/14/01) 1.34% 8.88% 18.10% 18.10% 13.08% 15.70% 18.10% 13.08% 11.06% 11.49% Riders, without surrender charges (04/30/04) (08/14/01) 1.23% 8.53% 16.63% 16.63% 12.63% 16.63% 11.67% 9.64% 10.08% Wanger US Smaller Companies No riders, without surrender charges (04/30/04) (05/03/95) -0.56% 4.94% 5.94% 5.94% 11.84% 5.94% 10.39% 9.11% 9.79% 13.10% Riders, without surrender charges (04/30/04) (05/03/95) -0.67% 4.61% 4.62% 4.62% 10.44% 4.62% 9.01% 7.70% 8.38% 11.67% WORLD STOCK Oppenheimer Global Securities Fund/VA, Service Shares No riders, without surrender charges (08/30/02) (11/12/90) 1.54% 7.94% 15.27% 15.27% 14.66% 16.80% 15.27% 14.66% 10.02% 11.64% 10.52% Riders, without surrender charges (04/30/04) (11/12/90) 1.44% 7.61% 13.83% 13.83% 14.86% 13.83% 13.23% 8.59% 10.18% 9.09% Portfolio (Class B) 8 Effective 5/1/06, previously AllianceBernstein VP International Value Portfolio (Class B). No riders, without surrender charges (04/30/04) (05/10/01) 3.88% 11.49% 32.71% 32.71% 25.22% 32.71% 23.04% 19.61% 16.68% Riders, without surrender charges (04/30/04) (05/10/01) 3.77% 11.14% 31.05% 31.05% 23.66% 31.05% 21.51% 18.10% 15.21% Dreyfus VIF International Value Portfolio Service Shares Effective 5/1/06, previously Dreyfus VIF International Value Portfolio, Service Share Class. No riders, without surrender charges (04/30/04) (05/01/96) 2.37% 7.61% 20.20% 20.20% 16.78% 20.20% 15.78% 12.35% 6.60% 6.39% Riders, without surrender charges (04/30/04) (05/01/96) 2.26% 7.27% 18.70% 18.70% 15.32% 18.70% 14.33% 10.92% 5.16% 4.96% Evergreen VA International Equity Fund - Class 2 1 No riders, without surrender charges (07/31/02) (08/17/98) 3.21% 9.49% 20.69% 20.69% 16.97% 15.81% 20.69% 16.97% 12.60% 6.66% Riders, without surrender charges (04/30/04) (08/17/98) 3.10% 9.15% 19.18% 19.18% 17.16% 19.18% 15.51% 11.16% 5.19% Fidelity VIP Overseas Portfolio Service Class 2 6 No riders, without surrender charges (04/30/04) (01/28/87) 3.15% 9.50% 15.67% 15.67% 16.07% 15.67% 14.51% 10.50% 5.54% 5.75% Riders, without surrender charges (04/30/04) (01/28/87) 3.04% 9.16% 14.22% 14.22% 14.62% 14.22% 13.08% 9.07% 3.98% 4.29% RiverSource SM Variable Portfolio - Emerging Markets Fund No riders, without surrender charges (04/30/04) (05/01/00) 4.44% 19.89% 31.51% 31.51% 31.11% 31.51% 28.21% 21.96% 10.06% Riders, without surrender charges (04/30/04) (05/01/00) 4.33% 19.51% 29.88% 29.88% 29.48% 29.88% 26.61% 20.42% 8.42% Dreyfus IP Technology Growth Portfolio Service Shares 9 Effective 5/1/06, previously Dreyfus IP Technology Growth Portfolio, Service Share Class. No riders, without surrender charges (04/30/04) (08/31/99) -1.22% 2.19% 2.18% 2.18% 3.53% 2.18% 0.73% -2.15% -5.70% Riders, without surrender charges (04/30/04) (08/31/99) -1.32% 1.86% 0.88% 0.88% 2.20% 0.88% -0.60% -3.68% -8.34% Putnam VT Health Sciences Fund - Class IB Shares 10 No riders, without surrender charges (08/30/02) (04/30/98) 0.29% 0.65% 0.95% 0.95% 5.70% 6.93% 0.95% 5.70% 1.44% 1.90% Riders, without surrender charges (04/30/04) (04/30/98) 0.18% 0.34% -0.33% -0.33% 4.19% -0.33% 4.37% 0.00% 0.44% Van Kampen UIF US Real Estate Portfolio Class II Shares 11 No riders, without surrender charges (04/30/04) (03/03/97) -0.80% 10.18% 35.21% 35.21% 33.01% 35.21% 27.49% 22.16% 14.14% Riders, without surrender charges (04/30/04) (03/03/97) -0.91% 9.84% 33.52% 33.52% 31.35% 33.52% 25.90% 20.63% 12.67% Page 6 of 8

Issued by RiverSource Life Insurance Company 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. RiverSource Life 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. Small- & mid-cap funds/small & mid cap investing: Stocks of small- and midcapitalization 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 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. 2 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. 3 Because Class B shares were not offered until June 1, 1999, standardized Class A fund performance for prior periods represents historical results of Class A shares. For periods beginning June 1, 1999, Class B's results reflect an additional 12b-1 fee expense, which also affects future performance. 4 Average annual total return based on net asset value (NAV) assumes reinvestment of all distributions for the period. Returns for Class II shares include combined Rule 12b-1 fees and service fees of up to 0.25 percent. Returns do not include any charges, expenses or fees imposed by an insurance company at the underlying portfolio or separate account levels. If the returns included the effect of these additional charges, the returns would have been lower. The portfolio's Adviser has waived or reimbursed fees and expenses from time to time; absent such waivers/reimbursements the portfolio's returns would have been lower. 5 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. 6 Initial offering of the Service Class 2 of each fund took place on Jan. 12, 2000. 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. 7 If Class II had existed during the periods presented, its performance would have been substantially similar to that of the existing class of the fund because each represents an investment in the same portfolio of securities. However, performance of Class II would have been lower because of its higher expense ratio. 8 Because Class B shares were not offered until August 15, 2001, standardized Class A fund performance for prior periods represents historical results of Class A shares. For periods beginning August 15, 2001, Class B's results reflect an additional 12b-1 fee expense, which also affects future performance. Page 7 of 8

9 Service Class shares carry 0.25% annual Rule 12b-1 fee. Service Class shares include the performance of Initial Class shares for periods prior to the inception of Service Class shares. Because operating expenses of Service Class shares are higher than those of Initial Class, the Service Class performance generally would have been lower than Initial Class performance. 10 The Trustees of Putnam Variable Trust currently limit 12b-1 fee payments on Class IB Shares to 0.25% of average net assets. 11 Average annual total return based on net asset value (NAV) assumes reinvestment of all distributions for the period. Returns do not include any charges, expenses or fees imposed by an insurance company at separate account levels. If the returns included the effect of these additional charges, the returns would have been lower. The Portfolio's Adviser and/or distributor has waived or reimbursed fees and expenses from time to time; absent such waivers/reimbursements, the Portfolio's returns would have been lower. RiverSource Life Insurance Company 829 Ameriprise Financial Center Minneapolis, MN 55474 2007 Ameriprise Financial, Inc. All rights reserved. RiverSource Distributors, Inc. (Distributor), Member NASD. Insurance and annuity products are issued by RiverSource Life Insurance Company. Page 8 of 8