Nationwide Financial(R) Tool Helps Advisors Recommend Personalized Investment Solutions

The BEST of AMERICA Investment Selector(SM) Takes Asset Allocation to Fund Level

COLUMBUS, Ohio, May 3, 2004 -- Nationwide Financial (NYSE: NFS) is offering an innovative marketing tool to help investment professionals grow their businesses and support the long-term investment needs of their clients. Investment Selector is an online quarterly report that recommends investment options and percentage allocations for The BEST of AMERICA(R) variable products.

Investment Selector uses research and evaluation methods developed by Morningstar Associates LLC, a registered investment advisor and a wholly owned subsidiary of Morningstar Inc. Investment Selector targets the investments that fulfill five allocation models developed through a collaboration with Ibbotson Associates(R).

"Through these tools and our partners, Nationwide Financial is helping investment professionals and their clients make the right choices that will help them prepare for retirement," said Richard A. Karas, president of NFS Distributors, Inc., a distribution arm of Nationwide Financial.

The tool helps manage the individual fund selection for each allocation model by analyzing the available menu of investment options and determining the initial asset allocation percentages for each fund based on style. The underlying investment options, including cash-equivalent funds, also are reviewed when determining the allocation percentage held by all funds within each model. The underlying investment options are not publicly traded mutual funds and are not available directly for purchase by the general public. They are only available through variable annuities issued by life insurance companies.

Used in conjunction with asset-allocation tools, the Investment Selector's report can help investment professionals and their clients choose specific fund mixes (even within style boxes) that are most likely to help them meet their own retirement goals. The recommended allocation percentages for each fund also are provided, based on conservative, moderately conservative, moderate, moderately aggressive, and aggressive models. However, the use of asset allocation as part of an overall investment strategy does not assure a profit or guarantee against loss in a declining market.

Each fund's performance continues to be monitored by Morningstar for investment objectives and style consistency, as well as to ensure that funds perform relative to style and peer group. A fund's past performance does not guarantee future results.

"Nationwide Financial is committed to providing world-class money management, disciplined investment strategies and tools that enable investment professionals to offer a higher level of service that their clients desire. Investment Selector is a result of our efforts to be the top choice of investment professionals," Karas said.

The quarterly reports will be available on-line through The BEST of AMERICA Sales & Service Center, http://www.bestofamerica.com .

The BEST of AMERICA Investment Selector can be used with the following variable annuity products and variable life products:

     -- The BEST of AMERICA America's FUTURE Annuity(R) II
     -- The BEST of AMERICA Achiever Annuity(SM)
     -- The BEST of AMERICA All American Gold Annuity(SM)
     -- The BEST of AMERICA Future Venue Annuity(SM)
     -- The BEST of AMERICA Choice Venue Annuity(SM) II
     -- The BEST of AMERICA Elite Venue Annuity (SM)
     -- The BEST of AMERICA Exclusive Venue Annuity(SM)
     -- The BEST of AMERICA Next Generation(R) Flexible Premium Variable
        Universal Life
     -- The BEST of AMERICA Protection Flexible Premium Variable Universal
        Life(R)
     -- The BEST of AMERICA(R) ChoiceLife Protection Flexible Premium Variable
        Universal Life

Investment Selector is offered to investment professionals with independent dealers, national and regional brokerages, and financial institutions, as well as to exclusive Nationwide agents.

Nationwide Financial, based in Columbus, helps customers and institutional clients by providing relevant products, services, tools and information through its annuity, life insurance and retirement plan offerings.

The parent company, Nationwide, is a leading provider of diversified insurance and financial services to customers across the United States and is ranked No. 118 on the Fortune 500 based on revenue. For more information, visit http://www.nationwide.com or http://www.nationwidefinancial.com .

About Morningstar, Inc.

Chicago-based Morningstar, Inc. is a leading global investment research firm that provides an extensive line of print, software, and Web-based products and services for individuals, financial advisors, institutions, and the media. Morningstar is a trusted source of investment information and analysis for stocks, mutual funds, exchange-traded funds, closed-end funds, and variable annuities. Morningstar tracks nearly 100,000 securities worldwide.

Variable annuities and variable life insurance products are sold by prospectus, which describes risk factors, fees and surrender charges that may apply. Variable annuities are long-term investment vehicles designed for retirement purposes. Care should be taken to ensure that variable life insurance products are suitable for your clients that have a long-term life insurance need. Investing involves market risk, including possible loss of principal.

The BEST of AMERICA variable annuities and variable life insurance products are underwritten by Nationwide Life Insurance Company and Nationwide Life and Annuity Insurance Company, Columbus, OH. The general distributor is Nationwide Investment Services Corporation, member NASD. In MI only: Nationwide Investment Svcs. Corporation. Nationwide Life Insurance Company is a subsidiary of Nationwide Financial Services, Inc., a publicly traded holding company.

Nationwide, Nationwide Financial and the Nationwide Framemark are federally registered service marks of Nationwide Mutual Insurance Company. On Your Side is a service mark of Nationwide Mutual Insurance Company. The BEST of AMERICA, America's FUTURE Annuity, The BEST of AMERICA Next Generation, and The BEST of AMERICA Protection Flexible Premium Variable Universal Life area federally registered service marks of Nationwide Life Insurance Company. The BEST of AMERICA Achiever Annuity, The BEST of AMERICA All American Gold Annuity, The BEST of AMERICA Future Venue Annuity, The BEST of AMERICA Choice Venue Annuity, The BEST of AMERICA Elite Venue Annuity and The BEST of AMERICA Exclusive Venue Annuity are service marks of Nationwide Life Insurance Company.


     Media Contact:
     Christine Jonas
     614-249-8377
     jonasc1@nationwide.com

     Jeff Botti
     614-249-6339
     bottij@nationwide.com



SOURCE Nationwide Financial Services, Inc.
Web Site: http://www.nationwidefinancial.com