International Stock Index Fund - Mutual of Omaha

International Stock IndexFundQuarterly SummaryProfile as of June 30, 2007(except where noted)Investment AllocationObjectiveSeeks to track the performance of an indexthat measures investment return of stocksfrom developed markets outside NorthAmerica.CharacteristicsStock fund that invests in units ofState Street Global Advisors DailyEAFE Index Fund Series, a bankcommingled fund for tax exemptretirement plans; which is managedby State Street Global Advisors.Employs a passive management orindex approach as opposed to activeinvestment management.Designed to replicate and closelytrack the unmanaged MSCI EAFEIndex.Consists of approximately 1,000stocks in twenty-one countriesoutside of North and South Americarepresenting 85% of the total marketcapitalization in those countries.The Index itself is not investable, sothe Fund will slightly underperformthe Index by a small percentage dueto operating costs.International investing involvesdifferent or increased risks. Theperformance of international fundsdepends upon currency values,political and regulatory environmentsand overall economic factors in thecountries they invest.Historical InvestmentStyleFund FactsManaged by: State StreetGlobal AdvisorsType: International Stock Fund

Investment ProcessFeesThe strategy invests in threecountry/regional funds whichtogether make up the MSCI EAFEIndex. Those funds include Europe,Japan and Pacific Basin ex-Japan.This approach allows investors togain exposure to EAFE as a whole.Replication results in low turnoverand accurate tracking with tradingoccurring only when there is achange in the composition of theIndex.An investment fee of 0.48% is assessed.Returns shown represent past performance which cannot guarantee future resultsand are net of investment fees, but not administrative fees. Your plan's specificreturns may be lower. Also, current performance may be lower or higher than theperformance data quoted above. Fund values and investment returns will vary andprincipal value, when redeemed, may be worth more or less than the originalinvestment. Contact your plan administrator or access your online account for yourplan's returns current to the most recent month-end.

All funds may not be available as an investment option in a plan.Fund invests in State Street Global Advisors' Daily EAFE Index Fund Series, abank commingled fund for tax exempt retirement plans (inception, 11/30/93).The investment fee represents the total operating expense ratio assessed by aFund and is subject to change. The investment fee and administrative feecharged to a plan will reduce the investment return of the Fund as set forth inthe group annuity contract.Data for relevant risk statistics represent the State Street Global Advisor'sDaily EAFE Index Fund Series using quarterly data for the past five years.Comparative peer group style data is based on equity and fixed incomedatabases maintained by Callan Associates Inc.Comparative database for the International Developed Countries Fund is theCallan Non-U.S. Equity Mutual Fund database.There is no guarantee the funds will achieve their objectives, and pastperformance is no guarantee of future returns. Fund values and investmentreturns will vary and principal values, when redeemed may be more or lessthan the original investment. The funds are not insured by the FDIC or by anyother governmental agency; they are not obligations of the FDIC nor are theydeposits or obligations of or guaranteed by the investment managers or theirorganizations. International investing involves special risks, such as politicalinstability and currency fluctuations.Profile statistics are provided by Callan Associates Inc. Data such as portfoliostatistics, sectors, and holdings is subject to change daily and is notguaranteed for accuracy or completeness.Index names may contain trademarks and are the exclusive property of their

espective owners.Morgan Stanley Capital International® (MSCI) EAFE Index -- comprised ofapproximately 1,000 equity securities representing the stock exchanges ofEurope, Australia, New Zealand and the Far East.Investment options are offered through a group variable annuity (Form900-GAQC-97) issued by United of Omaha Life Insurance Company, whichaccepts full responsibility for all of United's contractual obligations under theannuity but does not guarantee any contributions or investment returns exceptas provided in the annuity for the Guaranteed Account. Neither United ofOmaha nor its representatives or affiliates offers legal or investment advice inconnection with the product. United of Omaha is not licensed in New York. InNew York, services are provided by Mutual of Omaha Insurance Company. Forspecific information about your benefits, please refer to your Summary PlanDescription.AFN39585_0607