Hartford Stays on Hold

Hartford Life and the West Virginia State Treasurers Office announced the enrollment of the 100,000th beneficiary in the college savings program on June 23 at a ceremony in the University of Charleston.

Launched in 2002, SMART529 is a program of the West Virginia College Prepaid Tuition and Savings Program Board of Trustees and is administered by Hartford Life Insurance Company. As of May 31, 2009, SMART529 had $972.8 million assets under management. West Virginia provides its residents with tax advantages for investing in SMART529.

Investments in SMART529 are not guaranteed or insured by the State of West Virginia, the Board of Trustees of the West Virginia College Prepaid Tuition and Savings Program, the West Virginia State Treasurer's Office, Hartford Life Insurance Company, Hartford Financial Services Group Inc. (HIG), and the investment sub-advisors for the Underlying Funds or any depository institution.

SMART529 is distributed by Hartford Securities Distribution Company Inc. Given the deterioration of the overall market condition, we view this milestone achievement as a positive for HIG. Our recommendation on the shares of HIG remains unchanged at Hold.

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