Portfolio Navigator Asset Allocation Program Performance For use with Evergreen Pathways SM Select Variable Annuity (Contract Option L) performance Issued by RiverSource Life Insurance Company (RiverSource Life) 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 7
Portfolio Navigator Model Performance As of 12/31/07 Performance shown is for the Portfolio Navigator Asset Allocation Program and is not intended to reflect the experience of any particular investor. Moderate Moderate Aggressive Aggressive Moderate Conservative Conservative Since Since Since Since Since Program Program Program Program Program Portfolio Navigator 3 Mo. 1 Yr. 3 Yr. Incept.* 3 Mo. 1 Yr. 3 Yr. Incept.* 3 Mo. 1 Yr. 3 Yr. Incept.* 3 Mo. 1 Yr. 3 Yr. Incept.* 3 Mo. 1 Yr. 3 Yr. Incept.* Portfolio Navigator No riders, without withdrawal charges -2.88% 6.44% 10.12% 11.72% -2.01% 5.86% 8.85% 10.46% -1.13% 5.46% 7.48% 8.93% -0.42% 4.87% 6.14% 7.54% 0.25% 4.39% 4.24% 5.50% Portfolio Navigator No riders, with withdrawal charges -9.85% -1.28% 8.47% 10.94% -9.05% -1.81% 7.12% 9.60% -8.24% -2.18% 5.66% 7.97% -7.59% -2.72% 4.23% 6.48% -6.97% -3.16% 2.19% 4.29% *Annualized Returns -- Inception Date 5/1/2004 Evergreen Pathways SM Select Variable Annuity first became available on 5/1/2004. Portfolio Navigator model portfolio performance shown assumes deduction of various fees as if the annuity existed at the inception date of the Portfolio Navigator program. The Portfolio Navigator program has been available for use with variable annuity contracts since 5/1/2004. 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 from 5/1/2004 through 4/30/2006 is for the static version of the Portfolio Navigator program, which was available for contracts issued prior to 5/1/2006. The models used with the static program assumed a longer investment timehorizon and use different equity-bond targets than the models in the dynamic version of the program now offered. A revised version of the static models was available beginning 5/1/2005. The static program did not use RiverSource Investments, LLC as an investment adviser. Portfolio Navigator model portfolio performance from 5/1/2006 forward 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. Performance shown assumes an initial investment on 5/1/2004, change to the corresponding revised static model on 5/1/2005, change to the corresponding dynamic model portfolio on 5/1/2006, and adoption of all dynamic model portfolio updates as they became available. Actual performance will 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. Model performance was calculated by multiplying each individual variable funds expense-adjusted performance as provided by Lipper Inc. by its allocated percentage within the model. 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. Models were rebalanced as of calendar quarterend. Current applicable charges deducted from performance include: Least Expensive: 1.70% total base variable expense, a $40 contract administrative charge and no withdrawal charge. Most Expensive: 1.70% total base variable expense, a $40 contract administrative charge, and a 8% declining withdrawal charge on purchase payments less than four years old. 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. Asset allocation does not assure a profit or protect against a loss in declining markets. The GPA account was included as an investment option in the 2004 models in various states. For states that had not approved the GPA accounts, fixed income and money market fund model allocations were adjusted by Morningstar Associates, LLC and used in place of allocations to the GPA accounts. The performance shown does not reflect the returns of the GPA account. Page 2 of 7
Page 3 of 7 Portfolio Navigator Model Portfolios Effective May 1, 2007 Allocations shown are for currently offered models. The actual allocations and funds underlying your model may vary depending on the date you purchased your contract and whether you opted out of the annual reallocation(s). Conservative Model & Alloc. % CASH EQUIVALENTS RiverSource VP Cash Management Fund 11% SHORT-TERM FIXED INCOME RiverSource VP Short Duration US Government Fund 9% Bond Fund 20% Portfolio Service Class 2 10% Protected Securities Fund 11% Fund - Class 2 7% Securities Fund - Class 2 7% Opportunities Fund 5% Large Cap Class 2 1% Evergreen VA Omega Fund Class 2 2% Equity Income Fund 2% RiverSource VP Growth Fund 2% Class II Shares 1% Value Fund - Institutional Share 1% Service Class 2 4% RiverSource VP Small Cap Value Fund 1% Wanger US Smaller Companies 1% Portfolio (Class B) 2% Class 2 2% Class II Shares 1% Moderately Conservative Model & Alloc. % CASH EQUIVALENTS RiverSource VP Cash Management Fund 1% SHORT-TERM FIXED INCOME RiverSource VP Short Duration US Government Fund 5% Bond Fund 20% Portfolio Service Class 2 8% Protected Securities Fund 11% Fund - Class 2 7% Securities Fund - Class 2 7% Opportunities Fund 5% Large Cap Class 2 2% Evergreen VA Omega Fund Class 2 4% Equity Income Fund 3% RiverSource VP Growth Fund 4% Class II Shares 2% Fidelity Mid Cap Portfolio, Service Class 2 1% Value Fund - Institutional Share 2% Service Class 2 5% RiverSource VP Small Cap Value Fund 3% Wanger US Smaller Companies 1% Portfolio (Class B) 3% Class 2 3% RiverSource VP Emerging Markets Fund 1% Class II Shares 1% Moderate Model & Alloc. % Bond Fund 17% Portfolio Service Class 2 8% Protected Securities Fund 9% Fund - Class 2 6% Securities Fund - Class 2 6% Opportunities Fund 4% Large Cap Class 2 3% Evergreen VA Omega Fund Class 2 5% Equity Income Fund 4% RiverSource VP Growth Fund 5% Class II Shares 2% Fidelity Mid Cap Portfolio, Service Class 2 2% Value Fund - Institutional Share 3% Service Class 2 8% RiverSource VP Small Cap Value Fund 4% Wanger US Smaller Companies 1% Portfolio (Class B) 5% Class 2 4% RiverSource VP Emerging Markets Fund 2% Class II Shares 2% Moderately Aggressive Model & Alloc. % Bond Fund 12% Portfolio Service Class 2 6% Protected Securities Fund 6% Fund - Class 2 4% Securities Fund - Class 2 4% Opportunities Fund 2% Large Cap Class 2 4% Evergreen VA Omega Fund Class 2 7% Equity Income Fund 6% RiverSource VP Growth Fund 6% Class II Shares 4% Fidelity Mid Cap Portfolio, Service Class 2 3% Value Fund - Institutional Share 3% Service Class 2 9% RiverSource VP Small Cap Value Fund 5% Wanger US Smaller Companies 2% Portfolio (Class B) 6% Class 2 5% RiverSource VP Emerging Markets Fund 3% Class II Shares 3% Aggressive Model & Alloc. % Bond Fund 7% Portfolio Service Class 2 3% Protected Securities Fund 3% Fund - Class 2 2% Securities Fund - Class 2 2% Opportunities Fund 1% Large Cap Class 2 6% Evergreen VA Omega Fund Class 2 9% Equity Income Fund 8% RiverSource VP Growth Fund 7% Class II Shares 5% Fidelity Mid Cap Portfolio, Service Class 2 4% Value Fund - Institutional Share 3% Service Class 2 11% RiverSource VP Small Cap Value Fund 6% Wanger US Smaller Companies 2% Portfolio (Class B) 7% Class 2 6% RiverSource VP Emerging Markets Fund 4% Class II Shares 4%
Funds Underlying the Portfolio Navigator Asset Allocation Program 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 that are subject to market risk, including the potential loss of principal invested. The benefits of tax deferral may outweigh the costs of a variable annuity only if you hold it as a long-term investment. Current applicable charges deducted from performance include: Least Expensive: 1.70% total base variable expense, a $40 contract administrative charge and no withdrawal charge. Most Expensive: 1.70% total base variable account expense, a $40 contract administrative charge, a 0.20% Maximum Anniversary Value Benefit rider fee, a 0.65% Income Assurer Benefit rider - Greater of 5% Accumulation or MAV rider fee, a 0.40% Benefit Protector Plus Death Benefit rider fee, and a declining 8% withdrawal charge on purchase payments less than four years old. 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 taxdeferred 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 financial professional 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 taxdeferred, 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. Page 4 of 7
Performance Subaccounts Underlying Portfolio Navigator Model Portfolios Quarter End 12/31/07. Average Annual Total Returns Since Commencement of the Subaccount Average Annual Total Returns of the Subaccount 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 12/31/07 12/31/07 12/31/07 1-yr. 3-yr. 5-yr. 10-yr. Inception** 1-yr. 3-yr. 5-yr. 10-yr. Inception** Portfolio (Class B) 1 No riders, without withdrawal charges (04/30/04) (05/10/01) -2.67% -5.73% 3.77% 3.77% 16.44% 19.05% 3.77% 16.44% 22.38% 14.73% Riders, with withdrawal charges (04/30/04) (05/10/01) -9.98% -13.23% -4.93% -4.93% 13.20% 16.49% -4.93% 13.20% 20.85% 13.28% Evergreen Omega - Class 2 5, 6 No riders, without withdrawal charges (07/31/02) (03/06/97) -0.84% -3.52% 9.82% 9.82% 5.12% 10.89% 9.21% 9.82% 5.12% 10.89% 4.41% 4.95% Riders, with withdrawal charges (04/30/04) (03/06/97) -8.15% -11.02% 0.57% 0.57% 1.57% 3.04% 0.57% 1.57% 9.52% 2.87% 3.24% Large Cap - Class 2 2 No riders, without withdrawal charges (08/30/02) (03/01/96) -1.41% -4.12% 6.16% 6.16% 7.83% 11.36% 9.70% 6.16% 7.83% 11.36% 3.75% 7.08% Riders, with withdrawal charges (04/30/04) (03/01/96) -8.71% -11.62% -2.75% -2.75% 4.39% 6.32% -2.75% 4.39% 9.98% 2.29% 5.69% Evergreen VA International Equity Fund - Class 2 2 No riders, without withdrawal charges (07/31/02) (08/17/98) -1.90% -0.86% 12.76% 12.76% 15.70% 18.45% 15.33% 12.76% 15.70% 18.45% 7.39% Riders, with withdrawal charges (04/30/04) (08/17/98) -9.20% -8.36% 3.35% 3.35% 12.44% 14.51% 3.35% 12.44% 16.98% 5.92% Fund - Class 2 2 No riders, without withdrawal charges (07/31/02) (03/06/97) 2.96% 1.27% 1.49% 3.81% 2.37% 5.63% 5.98% 3.81% 2.37% 5.63% 4.27% 4.30% Riders, with withdrawal charges (04/30/04) (03/06/97) -4.56% -6.31% -6.69% -4.88% -1.11% 0.16% -4.88% -1.11% 4.32% 2.88% 2.91% Fidelity VIP Contrafund Portfolio Service Class 2 3 No riders, without withdrawal charges (08/30/02) (01/03/95) 0.28% 0.32% 15.29% 15.29% 13.14% 15.62% 13.80% 15.29% 13.14% 15.62% 8.48% 12.30% Riders, with withdrawal charges (04/30/04) (01/03/95) -7.04% -7.18% 5.85% 5.85% 9.82% 11.27% 5.85% 9.82% 14.19% 7.04% 10.83% Portfolio Service Class 2 No riders, without withdrawal charges (04/30/04) (12/05/88) 0.58% 1.36% 0.94% 1.64% 1.36% 1.89% 1.64% 1.36% 2.26% 3.83% 5.02% Riders, with withdrawal charges (04/30/04) (12/05/88) -6.75% -6.23% -7.19% -6.87% -2.10% -1.04% -6.87% -2.10% 0.92% 2.48% 3.68% Fidelity VIP Mid Cap Portfolio Service Class 2 3 No riders, without withdrawal charges (05/01/01) (12/28/98) 0.08% -2.70% 13.36% 13.36% 13.27% 19.34% 12.27% 13.36% 13.27% 19.34% 16.70% Riders, with withdrawal charges (04/30/04) (12/28/98) -7.22% -10.20% 3.94% 3.94% 9.96% 14.33% 3.94% 9.96% 17.86% 15.22% Securities Fund - Class 2 No riders, without withdrawal charges (04/30/04) (01/24/89) 4.60% 3.31% 8.13% 13.07% 7.81% 8.46% 13.07% 7.81% 10.64% 6.26% 6.13% Riders, with withdrawal charges (04/30/04) (01/24/89) -3.06% -4.45% -0.64% 3.66% 4.37% 5.59% 3.66% 4.37% 9.26% 4.85% 4.75% Value Fund No riders, without withdrawal charges (03/03/00) (05/01/98) 0.96% -3.51% 1.43% 1.43% 8.71% 14.95% 14.68% 1.43% 8.71% 14.95% 8.60% Riders, with withdrawal charges (04/30/04) (05/01/98) -6.41% -11.01% -7.07% -7.07% 5.29% 9.79% -7.07% 5.29% 13.52% 7.19% RiverSource Variable Portfolio - Cash Management Fund No riders, without withdrawal charges (03/01/02) (10/13/81) 0.20% 0.69% 3.03% 3.03% 2.20% 0.87% 0.65% 3.03% 2.20% 0.87% 1.60% 3.67% Riders, with withdrawal charges (04/30/04) (10/13/81) -7.11% -6.86% -5.60% -5.60% -1.29% -1.21% -5.60% -1.29% -0.52% 0.15% 2.21% RiverSource Variable Portfolio - Diversified Bond Fund No riders, without withdrawal charges (03/01/02) (10/13/81) 0.08% 1.39% 3.39% 3.39% 2.13% 2.36% 2.54% 3.39% 2.13% 2.36% 2.46% 7.01% Riders, with withdrawal charges (04/30/04) (10/13/81) -7.23% -6.21% -5.28% -5.28% -1.37% -0.25% -5.28% -1.37% 1.00% 1.02% 5.66% RiverSource Variable Portfolio - Diversified Equity Income Fund No riders, without withdrawal charges (03/03/00) (09/15/99) -0.65% -4.32% 6.17% 6.17% 11.72% 17.60% 8.80% 6.17% 11.72% 17.60% 7.53% Riders, with withdrawal charges (04/30/04) (09/15/99) -7.96% -11.82% -2.74% -2.74% 8.37% 11.45% -2.74% 8.37% 16.14% 6.08% RiverSource Variable Portfolio - Emerging Markets Fund No riders, without withdrawal charges (04/30/04) (05/01/00) -0.71% 4.93% 35.75% 35.75% 32.96% 32.45% 35.75% 32.96% 31.68% 13.20% Riders, with withdrawal charges (04/30/04) (05/01/00) -8.02% -2.95% 26.05% 26.05% 29.93% 29.99% 26.05% 29.93% 30.04% 11.54% RiverSource Variable Portfolio - Growth Fund No riders, without withdrawal charges (04/30/04) (09/15/99) -3.84% -5.81% 1.31% 1.31% 5.70% 6.74% 1.31% 5.70% 8.49% -4.19% Riders, with withdrawal charges (04/30/04) (09/15/99) -11.15% -13.31% -7.19% -7.19% 2.19% 3.96% -7.19% 2.19% 7.14% -6.19% RiverSource Variable Portfolio - Income Opportunities Fund No riders, without withdrawal charges (06/01/04) (06/01/04) 0.38% -1.15% 0.87% 0.87% 2.84% 4.90% 0.87% 2.84% 4.90% Riders, with withdrawal charges (06/01/04) (06/01/04) -6.95% -8.67% -7.62% -7.62% -0.66% 2.03% -7.62% -0.66% 2.03% RiverSource Variable Portfolio - Global Inflation Protected Securities Fund No riders, without withdrawal charges (05/01/06) (09/13/04) -0.05% 3.61% 6.08% 6.08% 5.16% 6.08% 2.16% 2.67% Riders, with withdrawal charges (05/01/06) (09/13/04) -7.35% -4.18% -2.82% -2.82% -0.72% -2.82% -1.34% -0.36% RiverSource Variable Portfolio - Short Duration US Government Fund No riders, without withdrawal charges (03/03/00) (09/15/99) 0.03% 1.06% 3.52% 3.52% 1.80% 0.85% 2.41% 3.52% 1.80% 0.85% 2.32% Riders, with withdrawal charges (04/30/04) (09/15/99) -7.28% -6.52% -5.17% -5.17% -1.69% -1.47% -5.17% -1.69% -0.53% 0.93% RiverSource Variable Portfolio - Small Cap Value Fund No riders, without withdrawal charges (05/01/02) (08/14/01) -1.56% -7.12% -6.53% -6.53% 4.73% 12.93% 6.69% -6.53% 4.73% 12.93% 8.55% Riders, with withdrawal charges (04/30/04) (08/14/01) -8.87% -14.61% -14.98% -14.98% 1.21% 5.35% -14.98% 1.21% 11.52% 7.17% Page 5 of 7
Performance Subaccounts Underlying Portfolio Navigator Model Portfolios Quarter End 12/31/07. Average Annual Total Returns Since Commencement of the Subaccount Average Annual Total Returns of the Subaccount 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 12/31/07 12/31/07 12/31/07 1-yr. 3-yr. 5-yr. 10-yr. Inception** 1-yr. 3-yr. 5-yr. 10-yr. Inception** Class II Shares 4 No riders, without withdrawal charges (08/30/02) (04/30/99) -3.79% -6.37% -4.01% -4.01% 3.87% 10.71% 9.61% -4.01% 3.87% 10.71% 4.77% Riders, with withdrawal charges (04/30/04) (04/30/99) -11.10% -13.86% -12.47% -12.47% 0.37% 3.94% -12.47% 0.37% 9.33% 3.38% Class II Shares 5 No riders, without withdrawal charges (04/30/04) (03/03/97) -5.82% -14.66% -18.70% -18.70% 8.09% 16.40% -18.70% 8.09% 17.91% 9.97% 10.71% Riders, with withdrawal charges (04/30/04) (03/03/97) -13.13% -22.14% -27.07% -27.07% 4.59% 13.77% -27.07% 4.59% 16.40% 8.52% 9.28% Wanger US Smaller Companies No riders, without withdrawal charges (04/30/04) (05/03/95) -0.72% -3.39% 3.58% 3.58% 6.30% 9.60% 3.58% 6.30% 14.51% 7.65% 12.41% Riders, with withdrawal charges (04/30/04) (05/03/95) -8.02% -10.89% -5.11% -5.11% 2.81% 6.88% -5.11% 2.81% 13.08% 6.27% 10.99% 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. 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 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. 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 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. 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 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. Page 6 of 7
RiverSource Life Insurance Company 312 Ameriprise Financial Center Minneapolis, MN 55474 Contract number 273954 RiverSource Distributors, Inc. (Distributor), Member FINRA. Insurance and annuity products are issued by RiverSource Life Insurance Company. 2008 RiverSource Life Insurance Company. All rights reserved. Page 7 of 7