Unaudited Balance Sheet*

Transamerica Life (Bermuda) Ltd.

As of December 31, 2009

ASSETS December 31, 2009 Total
Bonds $  1,398,589,742
Stocks:  
   Preferred stocks 0
   Common stocks 37,175,060
Mortgage loans on real estate: 0
Real estate 0
Cash, cash equivalents and short-term investments 33,784,650
Contract loans (including $ 0 premium notes) 33,368,381
Other invested assets 6,021,054
Receivable for securities 0
Subtotals, cash and invested assets 1,508,938,887
Investment income due and accrued 18,253,694
Premiums and considerations: 1,567,414
Reinsurance: 1,800,000
Other Assets 1,375,481
Total assets excluding Separate Accounts business 1,531,935,476
From Separate Accounts Statement 0
Total $  1,531,935,476

LIABILITIES December 31, 2009 Total
Aggregate reserve for life contracts $     874,991,370
Aggregate reserve for accident and health contracts 44,564
Liability for deposit-type contracts 912,568
Contract claims 4,543,612
Policyholders' dividends 336,146
Amounts due for reinsurance 39,286,506
Asset valuation reserve 5,445,413
Other liabilities 64,387,411
Total liabilities excluding Separate Accounts business 989,947,590
From Separate Accounts Statement 0
Total liabilities $     989,947,590

SURPLUS AND OTHER FUNDS  
1. Common capital stock $       40,000,000
2. Preferred capital stock 0
3. Surplus notes 0
4. Gross paid in and contributed surplus 309,767,400
5. Unassigned funds (surplus) 192,220,486
6. Preferred shares 0
7. Surplus (Total lines 3+4+5-6) 501,987,886
Totals of Lines 1, 2 and 7 541,987,886
Total Liabilities and Surplus $   1,531,935,476

*This balance sheet is presented on a US statutory accounting basis, which is the basis adopted by TLB for financial reporting in Bermuda. US statutory reports most assets at their book value.