Ameriprise Financial remains solid and sound

A message from Ameriprise Financial Chairman and CEO James M. Cracchiolo

May 2009

With the continued instability of the economic environment, I know you want to be confident in the company to which you trust your financial future. At Ameriprise Financial, our company remains solid and sound. We have a strong balance sheet, a diverse business model and the flexibility to move our company forward with conviction and purpose. On April 21, we announced our first quarter earnings for 2009. Despite continued difficult market conditions, including a 40% decline in the S&P 500, compared with a year ago, we navigated another extremely challenging quarter and generated solid earnings. Today, we remain steadfast in our commitment to serve and stand by our clients.

The strength of our financial foundation

We have always taken a conservative approach to how we manage risk. We are able to invest for the future largely because of the solid financial foundation that underpins our business — a large liquidity pool, a high quality invested asset portfolio, a strong capital position and a strong focus on operational efficiency. As of March 31, 2009:

• We had $5.8 billion in cash and cash equivalents
• We increased our excess capital position to more than $1 billion
• We accelerated our re-engineering efforts and believe we can achieve more than $350 million in savings this year

While we are not immune to market conditions, our results demonstrate the actions we’ve taken to prepare the company for the current environment, and give us the ability to continue to invest in our client and advisor support.

Differentiated by our service

We know the importance of working with a financial services provider you can trust and who will be there for you to help navigate a very challenging time. A recent McKinsey & Company study found that trust in Ameriprise Financial is among the highest of our peers and that our advisors have been the best in the industry at proactively reaching out to clients, evidence of the excellent support our advisors provide.

Moving forward

With some initial forecasts that the worst is over, we know that the economic environment remains tough and the road to recovery will take time. Despite these realities, I am confident in our ability to make a difference for you and all of our clients. Backed by the strength and stability of Ameriprise Financial, our advisors have the support they need to continue safeguarding your assets and help you reach your financial goals.

We value your business and we will continue to do everything we can to earn your trust.

Thank you,

James M. Cracchiolo