NATIONWIDE LIFE INSURANCE COMPANY
                              ONE NATIONWIDE PLAZA
                              COLUMBUS, OHIO 43215

                        CAPITAL PRESERVATION PLUS OPTION

CONTRACT FACE PAGE DISCLOSURE AND TITLING

The face page of the Contract is amended by adding the following to the title of
the Contract.

Modified Guaranteed Annuity

The following disclosure is added to the face page of the Contract.

GUARANTEED TERM OPTIONS (GTOS) OF THE NATIONWIDE MULTIPLE MATURITY SEPARATE ARE
SUBJECT TO A MARKET VALUE ADJUSTMENT THAT WILL RESULT IN AN UPWARD OR DOWNWARD
ADJUSTMENT IN THE SURRENDER VALUE OR TRANSFER VALUE. A MARKET VALUE ADJUSTMENT
IS NOT APPLIED TO: (1) THE DEATH BENEFIT; (2) AMOUNTS APPLIED TO AN ANNUITY
PAYMENT OPTION AVAILABLE UNDER THE CONTRACT; OR (3) SURRENDERS OR TRANSFERS AT
THE EXPIRATION OF THE TERM OF THE GTO (RESULTING IN THE AVAILABILITY OF THE FULL
SURRENDER VALUE WITHOUT A MARKET VALUE ADJUSTMENT.

GENERAL INFORMATION REGARDING THIS OPTION

This option is made part of the Contract to which it is attached and is
effective on the date it is elected. Nationwide may require this option to be
elected within sixty (60) days of the Date of Issue.

THIS OPTION IS NOT AVAILABLE IN CONJUNCTION WITH ANY EXTRA VALUE OPTION.

To the extent any provisions contained in this option are contrary to or
inconsistent with those of the Contract to which it is attached or to an
endorsement attached to the Contract, the provisions of this option will control
the Contract and/or endorsement accordingly. Non-defined terms shall have the
meaning given to them in the Contract.

The purpose of this option is to provide the Contract Owner with Capital
Preservation Plus Programs that are designed to preserve principal while
permitting the allocation of a portion of the Contract Value to various
Sub-Accounts of the Variable Account.

Capital Preservation Plus Programs may not be revoked except as described
herein. Nationwide may discontinue offering new Capital Preservation Plus
Programs on a prospective basis or limit the availability of certain Program
durations.

The Program Guarantee Amount is only payable at the end of a Capital
Preservation Plus Program. A full Surrender of the Surrender Value, full
Surrender of the Death Benefit, or Annuitization ends the Capital Preservation
Plus Program and the ability to receive the Program Guarantee Amount.

Nationwide will only permit one Capital Preservation Plus Program to be in
effect at any given time.

Please note that in electing this option, the following benefits contained in
the Contract will not be available during a Capital Preservation Plus Program:

     (1)  Subsequent Purchase Payments;

     (2)  directed Surrenders from the Guaranteed Term Option ("GTO")
          corresponding to the elected Program; and

     (3)  loans under TSAs, if applicable.

DEFINITIONS

The following definitions are added to the Contract:

     CAPITAL PRESERVATION PLUS PROGRAM (the "Program") - An election of the
     Contract Owner, providing for the allocation of an amount, specified by
     Nationwide, to a GTO to which the Program applies. Any remaining Contract
     Value may be allocated to the Fixed Account or to Sub-Accounts of the
     Variable Account permitted by the Program. The duration of the Program is
     equal to the duration of the GTO under the Program elected (3, 5, 7 or
     10-years). Nationwide guarantees that, at the expiration of the Program,
     the Contract Value will equal the value of the initial allocation to the
     Program, subject to an adjustment for Surrenders.

     NATIONWIDE MULTIPLE MATURITY SEPARATE ACCOUNT ("Separate Account") - A
     separate account of Nationwide funding the GTOs with terms of 3, 5, 7, or
     10 years with a specified rate of return (subject to a market value
     adjustment).


     PROGRAM ADJUSTMENT - The amount Nationwide must credit to the Contract
     Value at the end of a Program in order for the Contract Value to equal the
     Contract Value at the time the Program was elected, subject to an
     adjustment for Surrenders. The Program Adjustment is considered earnings
     not a Purchase Payment.

     PROGRAM ANNIVERSARY - Each recurring one-year anniversary of the Program
     beginning date during which the Program remains in effect.

     PROGRAM GUARANTEE AMOUNT - The value of the initial allocation to a
     Program. This represents the Contract Value on the date the Program was
     elected, subject to an adjustment for Surrenders.

     SPECIFIED INTEREST RATE - The interest rate established at the time of
     allocation to a GTO corresponding to the elected Program. The interest rate
     established will never be less than 1.5%.

     GUARANTEED TERM OPTIONS (GTOS) - Investment options that are part of the
     Nationwide Multiple Maturity Separate Account providing a Specified
     Interest Rate paid over certain periods of time (or terms), if certain
     conditions are met. The Specified Interest Rate is subject to a market
     value adjustment.

The following Contract Value and Surrender Value definitions will replace the
definitions in the Contract while a GTO elected in conjunction with a Capital
Preservation Plus Program is in effect.

     CONTRACT VALUE - The combined value of the Variable Account, the Fixed
     Account, and the Nationwide Multiple Maturity Separate Account. Amounts
     allocated to the Nationwide Multiple Maturity Separate Account are subject
     to a market value adjustment.

     SURRENDER VALUE - The value of amounts Surrendered from the Contract. This
     is the Contract Value minus any applicable charges, or market value
     adjustments applicable to any Guaranteed Term Option of the Nationwide
     Multiple Maturity Separate Account corresponding to a Program, and any
     applicable premium taxes.

ADDITIONAL CHARGE

While a Program is in effect, Nationwide will deduct an additional charge at an
annualized maximum rate of up to 0.75%. The additional charge assessed will not
change for the duration of the Program. Nationwide reserves the right to charge
less than the maximum rate.

For portions of the Contract Value allocated to the Variable Account, the charge
is deducted daily from the net asset value of such amounts. For portions of the
Contract Value allocated to the Nationwide Multiple Maturity Separate Account,
the charge is deducted from the interest rate credited to such amounts.

PLEASE NOTE THAT THE GTO SPECIFIED INTEREST RATE MAY BE DECREASED BY THE
ELECTION OF CERTAIN OTHER OPTIONS AVAILABLE UNDER THE CONTRACT. IN NO EVENT WILL
THE SPECIFIED INTEREST RATE EVER BE LESS THAN 1.5%. OPTIONS ELECTED THAT RESULT
IN A DECREASE TO THE GTO SPECIFIED INTEREST RATE ARE STATED ON THE CONTRACT
SPECIFICATIONS PAGE OF THE CONTRACT.

Nationwide will discontinue deducting the additional charge of [0.75%] upon the
expiration or termination of a Program. Any new Program election will
re-institute the charge for the duration of the elected Program.

BENEFITS PROVIDED BY THIS OPTION

General Information Regarding Programs

NATIONWIDE MAY CHOOSE TO DISCONTINUE OFFERING NEW PROGRAMS ON A PROSPECTIVE
BASIS OR MAY PROSPECTIVELY LIMIT THE AVAILABILITY OF CERTAIN PROGRAM DURATIONS.

This option permits a Contract Owner to elect a Program. The Program requires a
percentage of the Contract Value to be invested in a GTO that matches the
duration of the Program (the GTO will expire at the end of the calendar quarter
following the 3rd, 5th, 7th or 10th anniversary of the initial allocation).
Nationwide will determine GTO Specified Interest Rate and the required GTO
allocation for the Program at the time of election. The remaining Contract Value
may be invested in the Fixed Account or, subject to the restrictions described
in this option, in various Sub-Accounts of the Variable Account.

If at the end of the Program the current Contract Value is less than the Program
Guarantee Amount, Nationwide will credit the Program Adjustment to the
Sub-Accounts in which the Contract Owner is invested at the time the Program
expires.


The Program Adjustment is not allocated to the GTO at anytime or under any
circumstances.

Upon expiration of a Program, if a new Program is not elected, all amounts
allocated to the GTO for the Program, as well as any Program Adjustment, will be
allocated to a money market Sub-Account.

Nationwide may restrict the initial allocation of Contract Value or transfers to
certain Sub-Accounts in conjunction with the Program. Nationwide may not
restrict allocations to Sub-Accounts in which the Contract Owner is already
invested during the Program, except in the case of a substitution of shares or
the complete discontinuation of a Sub-Account as specified in the "Variable
Account" provision in the "Contract Investment Options" section of the Contract.

Option 1: Standard Program

A standard Program permits an allocation to a variety of Sub-Accounts of the
Variable Account. A standard Program will require a greater allocation to a GTO
when compared to an enhanced equity exposure Program.

Option 2: Enhanced Equity Exposure Program

These Programs require a smaller allocation to a GTO when compared to a standard
Program. The smaller GTO allocation is accomplished by limiting the Sub-Account
allocation to a single Sub-Account. Nationwide will determine which Sub-Accounts
may be utilized in an enhanced equity exposure Program.

If the Sub-Accounts necessary to offer Option 2 are not offered as underlying
funds in conjunction with the Contract, then Option 2 will not be available for
election.

THE NATIONWIDE MULTIPLE MATURITY SEPARATE ACCOUNT: GUARANTEED TERM OPTIONS
(GTOS)

THE PORTION OF THE CONTRACT VALUE ALLOCATED TO THE GTO OF THE NATIONWIDE
MULTIPLE MATURITY SEPARATE ACCOUNT CORRESPONDING TO THE ELECTED PROGRAM IS
SUBJECT TO A MARKET VALUE ADJUSTMENT FOR ANY SURRENDER OR TRANSFER OCCURRING
PRIOR TO ITS EXPIRATION.


General Information Regarding the Nationwide Multiple Maturity Separate Account

The Nationwide Multiple Maturity Separate Account is a segregated investment
account of Nationwide. The assets of the Separate Account are the property of
Nationwide but are not charged with the liabilities from any of its other
businesses.

The Separate Account offers four GTOs that are managed by Nationwide, as fully
described below.

The portion of assets of the Separate Account equal the reserves and other
Contract liabilities.

A detailed description of the operation of the Separate Account has been filed
with the Superintendent of the New York Insurance Department.

General Information Regarding the GTOs

GTOs are only available in conjunction with the election of a Program and prior
to the Annuitization Date.

The election of this option requires a portion of the Contract Value to be
allocated to a GTO that matches the duration of the Program elected. The amount
of the Contract Value to be allocated to a GTO is automatically determined by
Nationwide, based in part upon the Specified Interest Rate of the GTO.


The Separate Account has four GTOs available. The available GTOs have terms
lasting three years, five years, seven years and ten years.

During the term of a GTO corresponding to the elected Program, Nationwide
credits a Specified Interest Rate that is established upon the GTO allocation.
The Specified Interest Rate is credited during the term of the GTO corresponding
to the elected Program. The Contract Value, however, is subject to the
application of a market value adjustment described herein.

At least 15 days, and at most 30 days, before the end of each calendar quarter
Contract Owners having a GTO reaching the end of their terms in the next quarter
will be notified of their impending expiration. When the GTO corresponding to a
Program has expired, the Contract Owner will then have 30 days from the day
following expiration to Surrender or transfer the GTO without application of the
market value adjustment. During the 30 days after the GTO has expired, the
Specified Interest Rate established


for the GTO will continue to be credited, but is not guaranteed. If the GTO has
not been transferred or Surrendered 30 days following the expiration date,
amounts in the GTO will be transferred automatically to a money market
Sub-Account.

Market Value Adjustments Applicable to the GTOs

A market value adjustment ("MVA") applies to all amounts in a GTO that are
transferred or Surrendered prior to the expiration of the Program. All interest
rate swaps described in connection with the MVA formula are published by the
Federal Reserve Board. If the Federal Reserve Board halts publication of
interest rate swaps and there is no suitable alternative source of interest rate
swaps, or if, for any other reason, interest rate swaps are not available to be
relied upon, Nationwide will use appropriate rates based on treasury bond yields
subject to the approval of the Superintendent of Insurance.

MVA will not be applied to the Death Benefit or any amounts applied to an
annuity payment option available under the Contract.

The MVA is calculated using an MVA formula expressing the relationship between
three factors:

(1)  the interest rate swap for a period equivalent to the term of the GTO at
     the time of allocation;

(2)  the interest rate swap at the time of Surrender or transfer for a period of
     time with maturity equal to the time remaining until expiration of the GTO;
     and

(3)  the number of days remaining until the date the GTO expires.


The formula for determining the MVA is:

                                     t
                ____1 + A____
                    1 + B

Where:

     A   = the interest rate swap for a period equivalent to the term of the GTO
         at the time of allocation (3, 5, 7 or 10 years);

     B   = the interest rate swap at the time of distribution for a period of
         time with maturity equal to the time remaining until expiration of the
         GTO. In determining the number of years to maturity, any partial year
         is counted as a full year, unless it causes the number of years to
         exceed the term of the GTO;

     T  =the number of days until the expiration of the GTO, divided by 365.25.

     In the case of A, the interest rate swap used is the rate published two
     days before the date the allocation to the GTO was made. If no interest
     rate swap is available for this date, then the most recent available rate
     prior to that date will be used.

     In the case of B, the interest rate swap used is the rate published two
     days before the date of Surrender or transfer. If no interest rate swap is
     available for this date, then the most recent available rate prior to that
     date will be used.

     For periods not coinciding with the published interest rate swap periods,
     rates used in A and B will be determined by an adjustment to the published
     interest rate swaps based on a proportion to the difference in years.


     The result of the MVA formula as described in this section is an MVA
     factor. The MVA factor will be more than, less than, or equal to one. The
     MVA formula is multiplied by amounts transferred or Surrendered from the
     GTO.

     (1) Positive Adjustment - If the MVA factor is more than one, the
         adjustment is positive and the value of amounts transferred or
         Surrendered from the GTO increases.

     (2) Negative Adjustment - If the MVA factor is less than one, the
         adjustment is negative and the value of amounts transferred or
         Surrendered from the GTO decreases.

     (3) No Adjustment - If the MVA factor is exactly one, there is no
         adjustment and the value of amounts transferred or Surrendered from the
         GTO does not change.

DISCONTINUING A PROGRAM

Except as provided below, no Program in effect may be terminated or
discontinued.

In the case of a Program with a duration corresponding to a 7 year GTO, the
Contract Owner, during the 60 days following the 5th Program Anniversary, may
opt to discontinue the Program.


In the case of a Program with a duration corresponding to a 10 year GTO, the
Contract Owner, during the 60 days following the 7th Program Anniversary, may
opt to discontinue the Program.

If a Program is discontinued as described above, the additional charge
associated with the Program is no longer assessed and Nationwide will no longer
be obligated to provide the Program Guarantee Amount or credit any type of
Program Adjustment associated with such discontinued Program.

Discontinuation of a Program does not prevent the Contract Owner from
subsequently electing a new Program with a new Program Guarantee Amount.
Notwithstanding the termination of a Program, any GTO amounts that are
transferred or Surrendered prior to expiration of the duration associated with
the discontinued Program will result in the application of a market value
adjustment as described herein.

TRANSFERS

While a Program is in effect, the portion of the Contract Value allocated to the
GTO to which the Program applies may not be transferred into any Sub-Accounts or
the Fixed Account. If an enhanced Program is elected, the assets in the
Sub-Account established in conjunction with the enhanced Program may not be
transferred while the Program is in effect.

Transfers to the GTO while a Program is in effect are not permitted.

SURRENDERS

All Surrenders requested from the Contract while a Program is in effect will be
done proportionally from each investment option based on the allocation, unless
otherwise directed by the Contract Owner. This includes each Sub-Account of the
Variable Account, the GTO of the Nationwide Multiple Maturity Separate Account
corresponding to the Program and the Fixed Account. In addition to any
applicable Contingent Deferred Sales Charge ("CDSC"), GTO allocations will be
subject to a market value adjustment. The Contract Owner may not direct
Surrenders to be made from the GTO corresponding to the Program elected.

Any Surrender prior to the expiration of a Program will result in the following:

     (1) The Program Guarantee Amount (and any applicable corresponding Program
         Adjustment) will be adjusted on a proportional basis to the Contract
         Value at the time of Surrender for any Surrenders while the Program is
         in effect;

     (2) a market value adjustment will apply to any Surrender of the GTO, as
         described herein; and

     (3) any applicable CDSC described in the Contract will apply.

CONTRACT MAINTENANCE CHARGE

Any Contract Maintenance Charge described in the Contract that is assessed
against the Contract Value while a Program is in effect will reduce the Program
Guarantee Amount (and any applicable corresponding Program Adjustment)
proportionally.



Executed for Nationwide by:

         [/s/ PATRICIA R. HATLER]           [/s/MARK R. THRESHER]
              Secretary                         President