AP Alternative Assets, L.P. Informs Investors of Closing of Athene’s Acquisition of Aviva USA

  AP Alternative Assets, L.P. Informs Investors of Closing of Athene’s
  Acquisition of Aviva USA

Business Wire

GUERNSEY, Channel Islands -- October 2, 2013

Regulatory News:

In connection with AP Alternative Assets, L.P.’s (“AAA”; Euronext Amsterdam:
AAA) holding in a majority of the equity of Athene Holding Ltd. (“Athene”),
AAA informs investors of the closing today of the acquisition of the U.S.
annuity operations of Aviva plc (“Aviva USA”) by Athene. Below is the full
text of Athene’s press release, and for additional information regarding
Athene, please visit www.athene.com.



PEMBROKE, Bermuda, October 1, 2013 – Athene Holding Ltd. (“Athene Holding,”
and together with its subsidiaries, “Athene”) today announced it has completed
the acquisition of Aviva USA Corporation and its subsidiaries, including
Iowa-domiciled Aviva Life and Annuity Company, and New York-domiciled Aviva
Life and Annuity Company of New York, for $1.55 billion.*

Athene also announced that it has completed the sale of Aviva USA’s life
insurance operations to Presidential Life Insurance Company – USA, a wholly
owned subsidiary of Commonwealth Annuity and Life Insurance Co. and part of
the Global Atlantic Financial Group. Terms of that deal were not disclosed.

Following the deal’s close, Athene has approximately $60 billion in assets,
making it one of the largest fixed annuity companies in the United States.

Athene Chief Executive Officer Jim Belardi said: “Our acquisition of Aviva USA
is a transformative event that significantly increases the scale of Athene’s
fixed annuity business and we are excited about our prospects for further
profitable growth. Aviva’s operational capabilities and talented workforce
will enable Athene to solidify our position as a market-leading provider of
retirement solutions to policyholders and distributors. At the same time, we
will offer attractive opportunities for employees and create greater value for
our shareholders.”

Aviva USA has been renamed Athene USA, which is the parent for Athene’s U.S
operations and is now headquartered in West Des Moines, Iowa.

Athene Holding is owned by several institutional investors, with its largest
shareholder being AP Alternative Assets, L.P. (Euronext: AAA), a closed-end,
publicly traded permanent capital vehicle managed by Apollo Global Management,
LLC, a leading alternative investment manager.

*Prior to purchase price adjustments at closing

About Athene Holding Ltd.

Athene Holding, through its subsidiaries, is a leading provider of products in
the retirement savings market. Athene’s principal subsidiaries include Athene
Annuity & Life Assurance Company and Athene Life Insurance Company,
Delaware-domiciled insurance companies, Aviva Life & Annuity Company, an
Iowa-domiciled insurance company, Presidential Life Insurance Company and
Aviva Life & Annuity Company of New York, New York domiciled insurance
companies, and Athene Life Re Ltd., a Bermuda-based reinsurer.

Athene Holding provides investment solutions, including tax-efficient savings
products, to support retirees as well as those saving for retirement. The
products offered by Athene include:

  *Retail fixed and equity indexed annuity products
  *Institutional products, such as funding agreements
  *Co-insurance and reinsurance arrangements with third party life insurance
    and annuity providers

Further information about our companies can be found at www.athene.com.


This announcement does not constitute or form part of an offer to sell or
solicitation of an offer to purchase or subscribe for securities in the United
States or in any other jurisdiction.

This press release contains forward-looking statements. Forward-looking
statements involve risks and uncertainties because they relate to future
events and circumstances. Such statements are based on currently available
operating, financial and competitive information and are subject to various
risks and uncertainties that could cause actual results and developments to
differ materially from the historical experience and expressed or implied
expectations of AAA. Undue reliance should not be placed on such
forward-looking statements. Forward-looking statements speak only as of the
date on which they are made and AAA does not undertake to update its
forward-looking statements unless required by law.

About AP Alternative Assets

AP Alternative Assets was established by Apollo and is a closed-end limited
partnership established under the laws of Guernsey. Apollo is a leading global
alternative asset manager with 23 years of experience investing across the
capital structure of leveraged companies. AP Alternative Assets is managed by
Apollo Alternative Assets, L.P. For more information about AP Alternative
Assets, please visit www.apolloalternativeassets.com.


AP Alternative Assets
Gary Stein (New York), +1 (212) 822 0467