The Principal Financial Group Named Top Employer by Computerworld.

Business Editors & Technology Writers

DES MOINES, Iowa--(BUSINESS WIRE)--May 28, 2002

The Principal Financial Group(R), the nation's 401(k) leader and premier provider of employee benefits, announces its place on the annual ranking of the "100 Best Places to Work in

The Principal(R) rated better than the survey average for the company's overall percentage of female employees and female managers, as well as the overall average years of employment for its IT staff. The company was also was cited as the 6th best company for having "hot projects" staffed by cross-functional teams.

"Innovation and technology are key components in offering our customers valuable financial products and services to secure their financial futures. The company's dedication to leading the industry allows opportunities for our employees to further develop their professional skills by utilizing the latest technology," said Jim DeVries, vice president of Human Resources, the Principal Financial Group. "We are thrilled to once again be recognized by Computerworld for not only our IT programs, but also our robust benefit package to support employees in balancing their work and home life."

To compile the list, Computerworld measured companies in several categories, including diversity, training, career development, benefits, hot projects, retention and other criteria prospective IT employees find most compelling. The 2002 survey marks the fourth year the Principal Financial Group has made the publication's list of top IT employers, jumping 34 spots from its 82nd place in 2000.

"This year's Best Places to Work rankings give us a compelling window into the work environments that technology people value most -- across industries and, for the first time, across cultures," said Maryfran Johnson, editor in chief of Computerworld. "In our research worldwide, we found that the best employers create IT workplaces with a commitment to career growth, skills development and work/life balance."

The Principal Financial Group(R) (The Principal (R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and mortgage banking through its diverse family of financial services companies. More employers choose the Principal Financial Group for their 401(k) plans than any other bank, mutual fund, or insurance company in the United States(2). A member of the Fortune 500, the Principal Financial Group has $120.2 billion in assets under management(3) and serves some 13 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

About Computerworld

Based in Framingham, Mass., Computerworld, Inc. is a complete information services company for the IT Leader community, providing print and online publications, books, conferences and research services. The company's flagship weekly newspaper for IT Leaders has been recognized numerous times by Folio: Magazine and the Computer Press Association as the best computer newspaper. With a circulation of 202,000, Computerworld has a total audience of 1,539,000, according to IntelliQuest CIM v.8.0. News and resources for the IT Leader community are available at www.computerworld.com.

Computerworld is a business unit of IDG, the world's leading technology media, research and event company. IDG publishes more than 300 magazines and newspapers and offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 33o targeted Web sites in 80 countries. IDG is also a leading producer of 168 computer-related events worldwide, and IDG's research company, IDC, provides global market intelligence and advice through 51 offices in 43 countries. Company information is available at www.idg.com.

(1) "The Principal Financial Group" and "The Principal" are registered trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(2) CFO Magazine, April/May 2001, based on total plans served in 2000 by insurance companies, banks and investment firms.

(3) As of March 31, 2002.