Exhibit 99.1
NEWS RELEASE
Lincoln Financial Group Announces Redemption of all 8.14% Series A Capital Securities
Philadelphia, PA, December 1, 2006 - Lincoln National Corporation (NYSE:LNC) today announced that its wholly owned subsidiary and successor to Jefferson-Pilot Corporation, Lincoln JP Holdings, L.P., has called for redemption of all the $200 million outstanding 8.14% Capital Securities, Series A (“Series A Capital Securities”) issued by Jefferson-Pilot Capital Trust A (CUSIP No. 475529AA1) and guaranteed by Lincoln JP Holdings.
The Series A Capital Securities will be redeemed at a price of $1,040.70 per security, plus any accrued and unpaid distributions for the period up to but excluding the redemption date. The redemption date is January 15, 2007.
The Series A Capital Securities were issued in 1997 and are redeemable at Lincoln JP Holdings’ option on or after January 15, 2007. Holders of the Series A Capital Securities will receive official notice of the redemption by mail. The paying agent for the redemption of the Series A Capital Securities is The Bank of New York Trust Company, N.A. Holders of Series A Capital Securities may call The Bank of New York Trust Company, N.A. at 800-275-2048 for more information.
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in Philadelphia, the companies of Lincoln Financial Group had assets under management of $220 billion as of September 30, 2006. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; Lincoln Financial Media, which owns and operates three television stations, 18 radio stations, and the Lincoln Financial Sports production and syndication business; and Lincoln UK. For more information please visit www.LFG.com.
Contacts: | Jim Sjoreen | Laurel O’Brien |
215 448-1420 | 215 255-1520 | |
Investor Relations | Media Relations | |
investorrelations@LFG.com | mediarelations@LFG.com |