Message from the Chairman of Transamerica Life (Bermuda) Ltd.

February 3, 2010

While the financial markets have rebounded from the lows in March 2009, and main economies are in the process of normalizing, the current environment remains challenging as we continue to see mixed signals for a strong global economic recovery. Transamerica Life (Bermuda) Ltd. (TLB) has navigated successfully through past periods of market volatility by remaining committed to our long-term perspective and disciplined investment philosophy.

I'd like to take this opportunity to reassure our Singapore customers regarding the capital and liquidity position of TLB. As an authorized insurer in Singapore, TLB's Singapore branch is subject to regulatory oversight by the Monetary Authority of Singapore (MAS). In meeting MAS regulatory requirements, TLB's Singapore branch fulfills the minimum for paid-up capital, and maintains an excess of assets over liabilities of not less than the required solvency margin. In fact, as of the year ending December 31, 2009 TLB's Singapore branch's Capital Adequacy Ratio (CAR) was more than five times the required MAS minimum.

When you do business with Transamerica, you can be confident that you are served by a secure and reliable insurance company, with broad capabilities and continued financial strength. We thank you for your business and look forward to serving your financial needs in the years ahead.

Best regards,

Tom Simpson
Chairman, Transamerica Life (Bermuda) Ltd.