ING U.S. Prices Offering of $750M of Junior Subordinated Debt Securities

NG U.S., Inc. (NYSE: VOYA) announcedtoday that it has priced a private placement of $750 million principalamount of 5.65% Fixed-to-Floating Rate Junior Subordinated Notes due 2053(the "Notes"). The Notes will bear interest at a fixed rate of 5.65% untilMay 15, 2023, and thereafter will bear interest at a floating rate equal tothree-month LIBOR plus 3.58%. The offering is subject to customary closingconditions and is expected to close on May 16, 2013. The notes will be guaranteed on an unsecured, junior subordinated basis byLion Connecticut Holdings Inc. ("Lion Holdings"), a subsidiary of ING U.S.,Inc. ING U.S. intends to use the proceeds for the repayment of all amountscurrently outstanding on an existing term loan agreement under a syndicatedbank facility entered into in April 2012 and the partial repayment ofamounts owed to ING Verzekeringen N.V. ("ING V"), a subsidiary of ING GroepN.V. The Notes have not been registered under the Securities Act of 1933, asamended (the "Securities Act"), or any state securities laws, and unless soregistered, the securities may not be offered or sold in the United Statesexcept pursuant to an exemption from, or in a transaction not subject to,the registration requirements of the Securities Act and applicable statesecurities laws. This press release is being issued pursuant to Rule 135c under theSecurities Act, and is neither an offer to sell, nor a solicitation of anoffer to buy, the Notes or any other securities, and shall not constitute anoffer to sell, or a solicitation of an offer to buy, or a sale of, theNotes, or any other securities, in any jurisdiction in which such offer,solicitation or sale is unlawful.