NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Please replace the release with the following corrected version due to multiple revisions.

The corrected release reads:

PACIFIC LIFE ANNOUNCES COMPLETION OF $1 BILLION SURPLUS NOTE OFFERING

Pacific Life Insurance Company today announced that it has completed a $1 billion surplus note offering. The surplus notes will mature in June 2039 and have a coupon of 9.25%. The proceeds from the sale of the surplus notes will be used for general corporate purposes.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the surplus notes. The surplus notes were sold in transactions exempt from registration under the Securities Act of 1933.


Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. With more than half of the 100 largest U.S. companies as its clients, Pacific Life is also a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of April 2009 is compiled by Pacific Life using the 2009 FORTUNE 500® list.

Pacific Life Insurance Company

Tennyson Oyler, 949-219-3248

TOyler@PacificLife.com

Source: Pacific Life Insurance Company