DES MOINES, Iowa--(BUSINESS WIRE)--Dec. 21, 2005--The Principal Financial Group Foundation Inc., in support of community needs in the central Iowa area, provided grants totaling $594,000 during the third quarter to local art and culture organizations.

"By supporting art-related educational and cultural outreach programs, The Principal is able to bring a variety of diverse cultural elements to communities where they may otherwise not be available,"said Libby Jacobs, community relations director, the Principal Financial Group(R). "Providing these funds to organizations across the nation, ultimately improves the communities where our employees live and work."

Organizations benefiting from the grants include:

-- Civic Center of Greater Des Moines - This grant will provide
general operating support and support for the capital
campaign.

-- Des Moines Art Center - This grant will underwrite the "Art of
Richard Tuttle" exhibition in the spring of 2006 and provide
funds for scholarships and educational programming related to
the exhibition.

-- Des Moines Metro Opera - This grant will underwrite the 2006
production of "The Magic Flute" and the 2005 production of
"Amahl and the Night Visitors."

-- Des Moines Symphony Orchestra Association - This grant will
underwrite the Yankee Doodle Pops 2006 concert.

Other organizations receiving grants include:

-- Blank Park Zoo Foundation

-- Civic Music Association

-- Iowa Youth Chorus

-- The Des Moines Playhouse

-- Gateway Dance Theatre, Inc.

-- Greater Des Moines Community Foundation

-- Greater Des Moines Music Coalition

-- Hoyt Sherman Place Foundation

-- Living History Farms

-- Metro Arts Alliance of Greater Des Moines

-- Salisbury House

-- Science Center of Iowa

-- VSA Arts of Iowa

-- WOI-AM, FM & KTPR Radio

These grants were provided as part of the quarterly charitable grants program of the Principal Financial Group and the Principal Financial Group Foundation. The third quarter grant cycle focuses on art and culture programs offered by a variety of not-for-profit organizations in targeted communities.

The Principal Financial Group and the Principal Financial Group Foundation awarded a total of $623,050.00 in grants during the third quarter to communities where The Principal(R) has a significant employee presence, including Cedar Falls, Mason City, Ottumwa, Iowa; Grand Island, Neb.; Indianapolis, Ind.; Phoenix/Tucson, Ariz.; Spokane, Wash.; and Wilmington, Del. For a full list of 2005 grant recipients, visit www.principal.com/about/giving.

About the Principal Financial Group Foundation

The Principal Financial Group Foundation provides grants on a quarterly basis in the following categories: Health and Human Services (first quarter); Education (second quarter); Arts and Culture (third quarter); and Recreation and Tourism (fourth quarter). The Principal Financial Group Foundation, Inc. was formed in 1987 to help support communities in which the Principal Financial Group has a major employee presence. For more information about the Foundation grants program, visit www.principal.com.

About the Principal Financial Group

The Principal Financial Group(R) (The Principal (R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $188.4 billion in assets under management(2) and serves some 15.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

(1) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(2) As of September 30, 2005

Copyright Business Wire 2005

Principal Financial Group, Inc.

Principal Financial Group, Inc.

Principal Financial Group^® (Nasdaq: PFG) is a global financial company with 18,500 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 51 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal^® is proud to be recognized as one of America’s 100 Most Sustainable Companies2, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management3.” Learn more about Principal and our commitment to building a better future at principal.com.

More from Principal Financial Group, Inc.