December 27, 2004

FOR IMMEDIATE RELEASE

SAN DIEGO -- Pacific Select Distributors Inc., a wholly-owned subsidiary of Pacific Life Insurance Company and the holding company for its broker-dealers, announced that it has made an equity investment in Advanced Financial Solutions LLC, a new broker dealer and registered investment advisor providing investment programs exclusively to community banks.

According to Peter Deering, Senior Vice President of Pacific Select Distributors, the investment will provide initial funding for Advanced Financial Solutions’ start-up costs.

“This strategic initiative gives us a strong foothold in a niche business that is fast becoming a significant part of the financial services industry and is steadily growing,” Deering said.  “Pacific Select Distributors owns five broker-dealers and none of them were doing substantial business in the banking distribution channel.  Our investment in Advanced Financial Solutions LLC gives us strategic access to that niche.”

Mike Calvelli, President of San Diego-based Advanced Financial Solutions LLC, acknowledges the investment gives his fledgling company a big boost from a capitalization standpoint and significantly bolsters its credibility as it prospects for new customers.

“Advanced Financial Solutions expects to deliver exceptional service and performance value through its high technology and high touch approach,” Calvelli said. “The respective strengths of the two companies’ complement one another nicely and together we’re confident we can provide a strong offering to community banks interested in expanding their palette of financial services to their customers.”

Deering added that Pacific Select Distributors’ business development group will provide ongoing support to Advanced Financial Solutions LLC as the new company seeks to cultivate clients in the burgeoning community bank marketplace.

“I’m very familiar with the management team and their successful track record, and have a great deal of faith in their ability to execute their business plan,” Deering said.  “We’re excited about this new venture and believe the future of this market niche is promising.”

For additional information, please call Advanced Financial Solutions at (415) 457-3073 or email mcalvelli@mybd.com.

Advanced Financial Solutions LLC (Member NASD/SIPC) is a full-service financial broker dealer and Registered Investment Advisor providing investment programs and services to the banking industry.  For more information, call 415-457-3073.

Pacific Select Distributors, Inc. (member NASD & SIPC) is a wholly-owned subsidiary of Pacific Life Insurance Company and is the distributor of Pacific Life's variable products & mutual funds available through licensed third party broker-dealers.