Press release
Ameriprise Financial Declines Funding from U.S. Treasury Capital Purchase Program
MINNEAPOLIS – May 15, 2009 – Ameriprise Financial, Inc. (NYSE:AMP) today announced that it has elected not to accept funding under the U.S. Department of the Treasury's Capital Purchase Program ("CPP"). The Company was advised by telephone yesterday that its application had been granted preliminary approval.
"While we appreciate Treasury's approval of our application, we have elected not to accept funding," said Jim Cracchiolo, chairman and chief executive officer. "We have carefully evaluated our current position and expectations for the future, and we are confident that our current capital position and access to potential additional funding sources are more than adequate.
"Our prudent management approach has allowed us to maintain solid balance sheet fundamentals, including a high quality asset portfolio, large liquidity pool, more than $1 billion in excess capital and conservative capital ratios."
Ameriprise Financial, Inc. is a diversified financial services company serving the comprehensive financial planning needs of the mass affluent and affluent. For more information, visit ameriprise.com.
Contacts
Investor Relations:
Laura Gagnon
Ameriprise Financial
612.671.2080
laura.c.gagnon@ampf.com
Media Relations:
Ben Pratt
Ameriprise Financial
612.678.5881
benjamin.j.pratt@ampf.com
