John Gottschalk Elected to the Boards of Pacific Mutual Holding Company and Pacific LifeCorp.

NEWPORT BEACH, Calif. -- It was announced today that John Gottschalk has been elected to serve on the boards of Pacific Mutual Holding Company, the ultimate parent company of Pacific Life Insurance Company, and Pacific LifeCorp, the parent stock holding company of Pacific Life.

Gottschalk

has served as chairman and chief executive officer of the Omaha World-Herald Company since 1989. The Omaha World-Herald Company is comprised of some 20 operating companies (including over 50 newspapers and shoppers), plus Internet, direct marketing, and high-tech enterprises. The company operates in 26 states with approximately 3,000 employees. He is also the publisher of the Omaha World-Herald, a newspaper with a daily circulation of approximately 250,000 and the only employee-owned metropolitan newspaper in the United States.

Gottschalk is very active in Nebraska and has been a key figure in Omaha's $3 billion downtown redevelopment and growth initiative. He currently serves on the boards of directors of Cabela Inc., a NYSE public company in the sporting equipment and outfitting business, Election Systems and Software Inc., and the McCarthy Group Inc., a privately held investment firm managing approximately $500 million.

"Mr. Gottschalk is articulate, thoughtful, and has a broad view of both business and civic activities," said Thomas C. Sutton, chairman and chief executive officer of Pacific Life. "We welcome him and his experience as he joins our boards."

Founded in 1868, Pacific Life provides life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.(1) Pacific Life counts more than half of the 100 largest U.S. companies as clients(2) and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional information about Pacific Life, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor's, and Moody's, visit the company Web site at www.PacificLife.com.

(1) Product features and availability vary by state.
(2) Data compiled by Pacific Life using the FORTUNE 500(R) list as of
    April 2006.