mnlife.com - XL Performance

The chart below provides Historical Averages of the performance of the various Indices and crediting methods available in the XL Indexed Universal Life products. You may choose to allocate premium into any one or a combination of index selections. The highlighted sections reflect performance that would have been realized in Midland National Life Insurance Company's Indexed UL products with our current caps and participation rates. Note: Caps and participation rates are not identical for all products.

Information compiled by Midland National on 11/10/2008. Historical performance of the indices is not intended to predict or project performance.

Indexed Universal Life products are not an investment in the "market" or the applicable index. Indexed Universal Life products are subject to all policy fees and charges normally associated with most universal life products.

Participation rate and/or cap rate, and any other non-guaranteed components of the indexing formula may change and may be different in the future.

Historical Annual Point to Point Historical Daily Average Historical Monthly Point to Point

Index Growth & Index Credits for Month Ending 10/31/2008

S&P 500			Average Annualized Value
S&P 500	Year-To-Date	1 Year	3 Year	5 Year	10 Year
Daily Average Crediting Method
- Index Growth (Market)	-11.23%	-15.09%	-1.27%	1.50%	1.68%
- Index Credit* (XL-EC, DB) 115% Participation Rate	N/A	0.00%	4.89%	5.60%	5.97%
- Index Credit* (XL-CV2) 120% Participation Rate	N/A	0.00%	5.10%	5.84%	6.22%
Annual Point to Point Crediting Method
- Index Growth (Market)	-33.06%	-37.47%	-7.07%	-1.61%	-1.25%
- Index Credit* (XL-EC, DB) 13% Annual Cap	N/A	0.00%	8.31%	7.86%	6.93%
- Index Credit* (XL-CV2) 14% Annual Cap	N/A	0.00%	8.63%	8.05%	7.21%
Monthly Point to Point Crediting Method
- Index Growth (Market)	N/A	-44.03%	-10.70%	-4.03%	-3.02%
- Index Credit* (XL-EC, DB) 4.00% Monthly Cap	N/A	0.00%	8.25%	7.45%	6.01%
- Index Credit* (XL-CV2) 4.25% Monthly Cap	N/A	0.00%	8.33%	7.60%	6.30%

S&P MidCap 400			Average Annualized Value
S&P MidCap 400	Year-To-Date	1 Year	3 Year	5 Year	10 Year
Daily Average Crediting Method
- Index Growth (Market)	-7.49%	-12.22%	1.39%	4.34%	6.49%
- Index Credit* (XL-EC, DB) 100% Participation Rate	N/A	0.00%	5.89%	7.10%	8.44%
- Index Credit* (XL-CV2) 105% Participation Rate	N/A	0.00%	6.18%	7.45%	8.85%
Annual Point to Point Crediting Method
- Index Growth (Market)	-32.93%	-37.37%	-6.72%	0.72%	5.46%
- Index Credit* (XL-EC, DB) 10% Annual Cap	N/A	0.00%	6.56%	7.88%	6.88%
- Index Credit* (XL-CV2) 11% Annual Cap	N/A	0.00%	7.21%	8.47%	7.46%

DJIA			Average Annualized Value
DJIA	Year-To-Date	1 Year	3 Year	5 Year	10 Year
Daily Average Crediting Method
- Index Growth (Market)	-9.96%	-13.83%	-0.25%	1.63%	2.80%
- Index Credit* (XL-EC, DB) 115% Participation Rate	N/A	0.00%	5.54%	5.41%	5.69%
- Index Credit* (XL-CV2) 120% Participation Rate	N/A	0.00%	5.78%	5.64%	5.93%
Annual Point to Point Crediting Method
- Index Growth (Market)	-28.51%	-33.06%	-3.70%	-0.99%	0.82%
- Index Credit* (XL-EC, DB) 12% Annual Cap	N/A	0.00%	7.85%	5.97%	5.53%
- Index Credit* (XL-CV2) 13% Annual Cap	N/A	0.00%	8.49%	6.34%	5.91%

NASDAQ-100			Average Annualized Value
NASDAQ-100	Year-To-Date	1 Year	3 Year	5 Year	10 Year
Annual Point to Point Crediting Method
- Index Growth (Market)	-34.88%	-40.38%	-5.45%	-1.18%	-0.48%
- Index Credit* (XL-EC, DB) 10% Annual Cap	N/A	0.00%	6.47%	6.12%	6.00%
- Index Credit* (XL-CV2) 11% Annual Cap	N/A	0.00%	6.79%	6.31%	6.38%

Russell 2000			Average Annualized Value
Russell 2000	Year-To-Date	1 Year	3 Year	5 Year	10 Year
Daily Average Crediting Method
- Index Growth (Market)	-8.27%	-14.94%	-0.25%	2.87%	5.61%
- Index Credit* (XL-EC, DB) 95% Participation Rate	N/A	0.00%	5.02%	5.95%	7.53%
- Index Credit* (XL-CV2) 100% Participation Rate	N/A	0.00%	5.28%	6.26%	7.92%
Annual Point to Point Crediting Method
- Index Growth (Market)	-28.67%	-35.08%	-5.97%	0.35%	3.58%
- Index Credit* (XL-EC, DB) 10% Annual Cap	N/A	0.00%	5.90%	7.52%	6.70%
- Index Credit* (XL-CV2) 11% Annual Cap	N/A	0.00%	6.22%	7.97%	7.21%

DJ EURO Stoxx 50			Average Annualized Value
DJ EURO Stoxx 50	Year-To-Date	1 Year	3 Year	5 Year	10 Year
Annual Point to Point Crediting Method
- Index Growth (Market)	-40.27%	-42.27%	-7.92%	0.13%	-1.07%
- Index Credit* (XL-EC, DB) 14% Annual Cap	N/A	0.00%	8.52%	9.73%	7.77%
- Index Credit* (XL-CV2) 15% Annual Cap	N/A	0.00%	8.84%	10.11%	8.15%

* Index Credits indicate performance that would have been realized based on current caps and participation rates of the XL products. The Index Credits assume a single premium deposit and an ending date of the Index Period for only the Month Ending date noted above. The actual Index Credits for a policy can fluctuate widely depending on the deposit date of the premium and the number of deposits made into the policy (e.g. monthly premium deposits). Any change in either the caps or participation rates would result in different values than those shown for the Index Credits.

"Standard & Poor's®", "S&P®", "S&P MidCap 400®", "S&P 500®", "Standard & Poor's 500", "Standard & Poor's 400", "400" and "500" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Midland National Life Insurance Company.

"Dow Jones" and "DOW JONES INDUSTRIAL AVERAGE^SM (DJIA^SM) COMPOSITE STOCK PRICE INDEX" are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by Midland National Life Insurance Company.

The Dow Jones EURO STOXX 50® is the intellectual property of (including registered trademarks) Stoxx Limited, Zurich, Switzerland and/or Dow Jones & Company, Inc., a Delaware corporation, New York, USA, (the "Licensors"), which is used under license. The securities based on the Index are in no way sponsored, endorsed, sold or promoted by the Licensors and neither of the Licensors shall have any liability with respect thereto.

Russell 2000® Index is a trademark of Frank Russell Company and has been licensed for use by Midland National.

The NASDAQ-100^®, NASDAQ-100 INDEX^® and NASDAQ^® are registered marks of the NASDAQ Stock Market Inc. (which with its affiliates are the “Corporations”) and are licensed for use by Midland National Life Insurance Company. This product has not been passed on by the Corporations as to their legality or suitability. This product is not issued, endorsed, sold or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THIS PRODUCT. THIS INDEX DOES NOT INCLUDE DIVIDENDS PAID BY THE UNDERLYING COMPANIES.

Indexed Universal Life is not sponsored, endorsed, sold or promoted by the S&P 500^®, S&P MidCap 400^®, DJIA^SM, Dow Jones EURO STOXX 50^®, NASDAQ-100^®, and Russell 2000^®, and they make no representation regarding the advisability of purchasing this contract or investing in this product.

XL products are issued by Midland National Life Insurance Company, Sioux Falls, SD, on policy form series L128, L129, and L133, respectively. Products, features and riders may not be available in all jurisdictions. Limitations or restrictions may apply.