NATIONWIDE

VLI SEPARATE

ACCOUNT-4

Annual Report

to

Contract Owners

December 31, 2009

NATIONWIDE LIFE INSURANCE COMPANY

HOME OFFICE: COLUMBUS, OHIO

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY

December 31, 2009

Assets:
Investments at fair value:
Asset Allocation Fund - Class 2 (AMVAA2)
90,257 shares (cost $1,275,701)	$	1,322,259
Bond Fund - Class 2 (AMVBD2)
84,441 shares (cost $821,078)		863,833
Global Small Capitalization Fund - Class 2 (AMVGS2)
51,878 shares (cost $686,497)		920,826
Growth Fund - Class 2 (AMVGR2)
38,451 shares (cost $1,457,489)		1,772,578
Large Cap Core V.I. Fund - Class II (MLVLC2)
70,035 shares (cost $1,250,296)		1,474,233
Variable Series Funds, Inc. - Global Allocation V.I. Fund - Class II (MLVGA2)
199,635 shares (cost $2,915,129)		2,976,557
Variable Series, Inc. - Social Equity Portfolio (CVSSE)
12,487 shares (cost $205,696)		206,163
Credit Suisse Trust - International Equity Flex III Portfolio (CSIEF3)
80,511 shares (cost $472,821)		471,797
U.S. Equity Flex I Portfolio (WSCP)
145,640 shares (cost $1,691,373)		1,816,132
Variable Account Fund, Inc. - Value Portfolio (DAVVL)
194,655 shares (cost $1,549,858)		2,092,536
Insurance Trust - Insurance Trust Diversified Mid Cap Growth Portfolio 1 (OGGO)
218,265 shares (cost $2,030,976)		2,937,853
Insurance Trust - Insurance Trust Mid Cap Value Portfolio 1 (JPMMV1)
30,469 shares (cost $128,576)		169,713
Janus Aspen Series - Balanced Portfolio - Service Shares (JABS)
420,636 shares (cost $10,876,956)		11,748,357
Janus Aspen Series - Forty Portfolio - Service Shares (JACAS)
1,710,292 shares (cost $54,499,898)		56,730,384
Janus Aspen Series - Global Technology Portfolio - Service Shares (JAGTS)
2,603,124 shares (cost $10,567,185)		11,844,213
Janus Aspen Series - Overseas Portfolio - Service II Shares (JAIGS2)
525,471 shares (cost $25,742,405)		23,819,592
Janus Aspen Series - Overseas Portfolio - Service Shares (JAIGS)
1,359,606 shares (cost $58,009,417)		61,291,056

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Series Fund - Mid Cap Value Portfolio - Class VC (LOVMCV)
98,375 shares (cost $1,036,003)	$	1,303,464
Investors Growth Stock Series - Initial Class (MIGIC)
337,754 shares (cost $3,303,918)		3,320,121
Research International Series - Service Class (MVRISC)
58,576 shares (cost $591,234)		663,667
Value Series - Initial Class (MVFIC)
609,479 shares (cost $7,800,584)		7,191,851
Value Series - Service Class (MVFSC)
322,366 shares (cost $3,162,213)		3,765,238
Variable Insurance Trust II - International Value Portfolio - Service Class (MVIVSC)
211,252 shares (cost $3,067,361)		3,037,808
Core Plus Fixed Income Portfolio - Class I (MSVFI)
251,930 shares (cost $2,729,476)		2,501,669
Emerging Markets Debt Portfolio - Class I (MSEM)
1,225,063 shares (cost $8,702,485)		9,494,242
Mid Cap Growth Portfolio- class I (MSVMG)
1,034,620 shares (cost $8,299,711)		9,477,123
The Universal Institutional Funds, Inc. - Capital Growth Portfolio - Class I (MSVEG)
22,472 shares (cost $348,839)		379,106
U.S. Real Estate Portfolio - Class I (MSVRE)
2,056,474 shares (cost $18,342,506)		20,873,210
AllianceBernstein NVIT Global Fixed Income Fund - Class III (NVAGF3)
23,982 shares (cost $272,752)		264,277
American Century NVIT Multi Cap Value Fund - Class I (NVAMV1)
2,180 shares (cost $28,531)		27,771
American Funds NVIT Asset Allocation Fund - Class II (GVAAA2)
250,844 shares (cost $4,458,780)		3,933,230
American Funds NVIT Bond Fund - Class II (GVABD2)
255,781 shares (cost $2,664,541)		2,724,066
American Funds NVIT Global Growth Fund - Class II (GVAGG2)
292,510 shares (cost $6,562,386)		5,782,917
American Funds NVIT Growth Fund - Class II (GVAGR2)
154,030 shares (cost $8,843,748)		7,086,930
American Funds NVIT Growth-Income Fund - Class II (GVAGI2)
69,317 shares (cost $2,304,168)		2,324,195
Federated NVIT High Income Bond Fund - Class I (HIBF)
3,208,832 shares (cost $21,301,535)		21,178,288

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Federated NVIT High Income Bond Fund - Class III (HIBF3)
1,819,483 shares (cost $10,198,627)	$	11,990,391
Gartmore NVIT Emerging Markets Fund - Class I (GEM)
2,509,715 shares (cost $29,517,831)		28,510,360
Gartmore NVIT Emerging Markets Fund - Class III (GEM3)
1,319,327 shares (cost $19,044,111)		14,961,165
Gartmore NVIT Global Utilities Fund - Class I (GVGU1)
345,222 shares (cost $3,548,961)		2,789,396
Gartmore NVIT International Equity Fund - Class I (GIG)
682,662 shares (cost $4,841,355)		5,468,126
Gartmore NVIT International Equity Fund - Class III (GIG3)
460,549 shares (cost $3,299,529)		3,693,604
Gartmore NVIT International Equity Fund - Class VI (NVIE6)
62,988 shares (cost $450,888)		503,904
Gartmore NVIT Worldwide Leaders Fund - Class I (GEF)
383,470 shares (cost $4,982,938)		3,919,064
Gartmore NVIT Worldwide Leaders Fund - Class III (GEF3)
1,426 shares (cost $14,149)		14,573
Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1)
1,788,575 shares (cost $13,613,265)		15,113,461
Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1)
21,154 shares (cost $159,379)		178,324
NVIT Cardinal Aggressive Fund - Class I (NVCRA1)
42,309 shares (cost $283,010)		355,820
NVIT Cardinal Balanced Fund - Class I (NVCRB1)
90,832 shares (cost $751,535)		867,448
NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1)
171,312 shares (cost $1,437,008)		1,557,228
NVIT Cardinal Conservative Fund - Class I (NVCCN1)
91,731 shares (cost $835,822)		922,817
NVIT Cardinal Moderate Fund - Class I (NVCMD1)
240,942 shares (cost $1,982,041)		2,247,987
NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1)
341,687 shares (cost $2,575,077)		3,020,509
NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1)
67,028 shares (cost $574,356)		653,523
NVIT Core Bond Fund - Class I (NVCBD1)
59,505 shares (cost $601,137)		607,551

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

NVIT Core Plus Bond Fund - Class I (NVLCP1)
23,479 shares (cost $240,086)	$	253,339
NVIT Fund - Class I (TRF)
38,338,927 shares (cost $395,794,435)		310,928,696
NVIT Global Financial Services Fund - Class I (GVGF1)
292,654 shares (cost $1,593,714)		2,183,201
NVIT Government Bond Fund - Class I (GBF)
9,815,120 shares (cost $114,551,757)		115,229,514
NVIT Growth Fund - Class I (CAF)
1,289,097 shares (cost $12,640,984)		15,159,786
NVIT Health Sciences Fund - Class I (GVGH1)
300,925 shares (cost $2,950,444)		2,888,885
NVIT Health Sciences Fund - Class III (GVGHS)
257,823 shares (cost $2,492,012)		2,480,260
NVIT International Index Fund - Class II (GVIX2)
452,896 shares (cost $3,392,493)		3,672,988
NVIT International Index Fund - Class VI (GVIX6)
70,881 shares (cost $604,098)		574,139
NVIT Investor Destinations Aggressive Fund - Class II (GVIDA)
3,347,655 shares (cost $36,834,910)		27,551,197
NVIT Investor Destinations Balanced Fund - Class II (NVDBL2)
1,822 shares (cost $21,805)		21,918
NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2)
9,666 shares (cost $122,391)		124,792
NVIT Investor Destinations Conservative Fund - Class II (GVIDC)
1,513,667 shares (cost $14,554,491)		14,939,889
NVIT Investor Destinations Moderate Fund - Class II (GVIDM)
8,315,373 shares (cost $87,212,664)		80,742,275
NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA)
7,772,778 shares (cost $88,328,089)		72,986,388
NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC)
1,875,374 shares (cost $19,499,420)		18,397,421
NVIT Leaders Fund - Class I (GVUS1)
121,669 shares (cost $1,052,466)		1,043,924
NVIT Mid Cap Index Fund - Class I (MCIF)
3,406,740 shares (cost $56,603,027)		50,487,894
NVIT Money Market Fund - Class I (SAM)
111,488,338 shares (cost $111,488,338)		111,488,338

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

NVIT Money Market Fund - Class V (SAM5)
298,221,923 shares (cost $298,221,923)	$	298,221,923
NVIT Multi-Manager International Growth Fund - Class III (NVMIG3)
2,080,171 shares (cost $15,838,861)		17,972,679
NVIT Multi-Manager International Value Fund - Class I (GVDIVI)
109,791 shares (cost $1,610,362)		1,079,247
NVIT Multi-Manager International Value Fund - Class III (GVDIV3)
573,297 shares (cost $8,476,116)		5,612,577
NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1)
271,763 shares (cost $2,108,359)		2,361,624
NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1)
444,558 shares (cost $3,373,204)		3,712,059
NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1)
3,789,771 shares (cost $27,602,609)		31,796,180
NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2)
1,259,081 shares (cost $10,317,947)		11,495,409
NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF)
950,029 shares (cost $13,776,404)		11,685,353
NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF)
4,392,677 shares (cost $49,151,153)		36,459,218
NVIT Multi-Manager Small Company Fund - Class I (SCF)
4,654,761 shares (cost $88,421,734)		67,261,295
NVIT Multi-Sector Bond Fund - Class I (MSBF)
1,602,489 shares (cost $13,516,298)		13,252,584
NVIT Short Term Bond Fund - Class I (NVSTB1)
54,706 shares (cost $555,447)		562,925
NVIT Short Term Bond Fund - Class II (NVSTB2)
280,815 shares (cost $2,892,996)		2,878,357
NVIT Technology & Communications Fund - Class I (GGTC)
1,267,032 shares (cost $4,452,372)		4,307,907
NVIT Technology & Communications Fund - Class III (GGTC3)
752,714 shares (cost $2,385,494)		2,581,809
NVIT U.S. Growth Leaders Fund - Class I (GVUG1)
361,680 shares (cost $3,375,083)		2,712,597
Oppenheimer NVIT Large Cap Growth Fund - Class I (NVOLG1)
30,064 shares (cost $413,215)		423,294
Templeton NVIT International Value Fund - Class III (NVTIV3)
7,936 shares (cost $110,741)		110,304

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Van Kampen NVIT Comstock Value Fund - Class I (EIF)
1,001,442 shares (cost $11,284,430)	$	8,892,805
Van Kampen NVIT Real Estate Fund - Class I (NVRE1)
3,154,389 shares (cost $19,874,480)		23,027,042
Advisers Management Trust - Short Duration Bond Portfolio - I Class Shares (AMTB)
390,158 shares (cost $4,642,201)		4,377,570
V.I. Basic Value Fund - Series I (AVBVI)
126,415 shares (cost $614,431)		755,960
V.I. Capital Appreciation Fund - Series I (AVCA)
45,537 shares (cost $1,044,598)		925,771
V.I. Capital Development Fund - Series I (AVCDI)
779,693 shares (cost $8,883,169)		8,802,730
V.I. International Growth Fund - Series I (AVIE)
1,272,829 shares (cost $33,839,836)		33,106,289
VPS Growth and Income Portfolio - Class A (ALVGIA)
704,089 shares (cost $14,459,428)		10,702,152
VPS International Value Portfolio - Class A (ALVIVA)
2,146,233 shares (cost $28,462,544)		31,549,621
VPS Small/Mid Cap Value Portfolio: Class A (ALVSVA)
575,607 shares (cost $6,922,688)		7,718,887
VP Income & Growth Fund - Class I (ACVIG)
2,914,195 shares (cost $19,972,655)		15,678,368
VP Inflation Protection Fund - Class II (ACVIP2)
2,635,781 shares (cost $27,744,548)		28,281,932
VP International Fund - Class I (ACVI)
2,153,754 shares (cost $16,797,095)		16,648,518
VP International Fund - Class III (ACVI3)
1 share (cost $2)		3
VP Mid Cap Value Fund - Class I (ACVMV1)
230,644 shares (cost $2,460,721)		2,795,410
VP Ultra(R) Fund - Class I (ACVU1)
101,210 shares (cost $722,812)		821,824
VP Value Fund - Class I (ACVV)
10,005,707 shares (cost $66,459,313)		52,830,132
VP Vista(SM) Fund - Class I (ACVVS1)
147,241 shares (cost $1,571,374)		1,942,115
MidCap Stock Portfolio - Initial Shares (DVMCS)
84,403 shares (cost $899,976)		882,854
Small Cap Stock Index Portfolio - Service Shares (DVSCS)
2,898,104 shares (cost $32,313,760)		28,256,513

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Stock Index Fund, Inc. - Initial Shares (DSIF)
10,066,649 shares (cost $295,561,579)	$	264,853,529
The Dreyfus Socially Responsible Growth Fund, Inc. - Initial Shares (DSRG)
405,293 shares (cost $9,244,849)		10,643,001
Appreciation Portfolio - Initial Shares (DCAP)
757,627 shares (cost $26,714,297)		23,789,476
Developing Leaders Portfolio - Initial Shares (DSC)
27,482 shares (cost $675,517)		645,548
International Value Portfolio - Initial Shares (DVIV)
2,168,606 shares (cost $26,749,368)		23,681,177
Variable Series II - Dreman Small Mid Cap Value VIP - Class B (SVSSVB)
152,343 shares (cost $1,293,764)		1,528,001
Variable Series II - Strategic Value VIP - Class B (SVSHEB)
68,543 shares (cost $429,168)		505,851
Capital Appreciation Fund II - Primary Shares (FVCA2P)
109,824 shares (cost $653,561)		628,194
Clover Value Fund II - Primary Shares (FALF)
20,500 shares (cost $258,117)		185,734
Market Opportunity Fund II - Service Shares (FVMOS)
74,584 shares (cost $748,947)		734,657
Quality Bond Fund II - Primary Shares (FQB)
3,188,010 shares (cost $34,814,761)		35,705,717
VIP Fund - Contrafund Portfolio - Service Class (FCS)
7,131,988 shares (cost $178,297,367)		146,562,349
VIP Fund - Energy Portfolio - Service Class 2 (FNRS2)
579,605 shares (cost $10,232,374)		9,731,563
VIP Fund - Equity-Income Portfolio - Service Class (FEIS)
3,776,552 shares (cost $86,583,526)		63,257,251
VIP Fund - Freedom Fund 2010 Portfolio - Service Class (FF10S)
193,358 shares (cost $1,897,910)		1,889,107
VIP Fund - Freedom Fund 2020 Portfolio - Service Class (FF20S)
631,167 shares (cost $5,745,762)		5,996,082
VIP Fund - Freedom Fund 2030 Portfolio - Service Class (FF30S)
337,883 shares (cost $3,359,407)		3,047,703
VIP Fund - Growth & Income Portfolio - Service Class (FGIS)
6,278 shares (cost $55,060)		69,062
VIP Fund - Growth Opportunities Portfolio - Service Class (FGOS)
543,266 shares (cost $9,024,640)		7,866,493

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

VIP Fund - Growth Portfolio - Service Class (FGS)
2,160,927 shares (cost $71,866,971)	$	64,741,380
VIP Fund - High Income Portfolio - Service Class (FHIS)
2,590,238 shares (cost $13,556,283)		13,624,653
VIP Fund - High Income Portfolio - Service Class R (FHISR)
713,583 shares (cost $3,261,099)		3,746,310
VIP Fund - Index 500 Portfolio - Initial Class (FIP)
38,297 shares (cost $4,375,973)		4,581,059
VIP Fund - Investment Grade Bond Portfolio - Service Class (FIGBS)
1,343,008 shares (cost $16,160,262)		16,639,864
VIP Fund - Mid Cap Portfolio - Service Class (FMCS)
1,464,742 shares (cost $39,098,532)		37,219,083
VIP Fund - Overseas Portfolio - Service Class (FOS)
1,905,752 shares (cost $37,796,493)		28,567,225
VIP Fund - Overseas Portfolio - Service Class R (FOSR)
813,533 shares (cost $16,239,942)		12,178,596
VIP Fund - Value Strategies Portfolio - Service Class (FVSS)
476,308 shares (cost $4,036,318)		3,672,333
VIP Fund - VIP Freedom Fund 2015 Portfolio - Service Class (FF15S)
120,718 shares (cost $1,048,176)		1,179,413
VIP Fund - VIP Freedom Fund 2025 Portfolio - Service Class (FF25S)
67,308 shares (cost $590,957)		625,964
Franklin Income Securities Fund - Class 2 (FTVIS2)
300,969 shares (cost $4,665,254)		4,249,689
Franklin Rising Dividends Securities Fund - Class 1 (FTVRDI)
627,781 shares (cost $11,445,528)		10,126,109
Franklin Small Cap Value Securities Fund - Class 1 (FTVSVI)
730,242 shares (cost $12,017,707)		9,493,140
Franklin Small Cap Value Securities Fund - Class 2 (FTVSV2)
361,468 shares (cost $4,238,269)		4,615,952
Mutual Discovery Global Securities Fund - Class 2 (FTVMD2)
11,015 shares (cost $180,218)		207,188
Templeton Developing Markets Securities Fund - Class 3 (FTVDM3)
583,767 shares (cost $6,379,094)		5,680,050
Templeton Foreign Securities Fund - Class 1 (TIF)
124,152 shares (cost $1,841,157)		1,698,397
Templeton Foreign Securities Fund - Class 2 (TIF2)
954,249 shares (cost $13,298,781)		12,834,651

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Templeton Foreign Securities Fund - Class 3 (TIF3)
414,728 shares (cost $6,490,023)	$	5,544,913
Templeton Global Bond Securities Fund - Class 2 (FTVGI2)
146,415 shares (cost $2,488,827)		2,537,364
Templeton Global Bond Securities Fund - Class 3 (FTVGI3)
369,423 shares (cost $6,118,191)		6,402,097
VIP Founding Funds Allocation Fund - Class 2 (FTVFA2)
41,551 shares (cost $255,055)		296,677
Goldman Sachs VIT - Goldman Sachs Mid Cap Value Fund - Institutional Shares (GVMCE)
4,099,791 shares (cost $53,272,957)		46,532,631
ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG)
22,047 shares (cost $212,488)		272,278
Lincoln VIP Trust - Baron Growth Opportunities Funds - Service Class (BNCAI)
444,182 shares (cost $10,697,810)		10,638,595
Guardian Portfolio - I Class Shares (AMGP)
98,108 shares (cost $1,376,798)		1,567,758
Mid-Cap Growth Portfolio - I Class Shares (AMCG)
262,768 shares (cost $6,497,235)		5,581,202
Partners Portfolio - I Class Shares (AMTP)
320,507 shares (cost $2,795,325)		3,144,179
Regency Portfolio - I Class Shares (AMRI)
242,190 shares (cost $2,516,248)		2,969,250
Small-Cap Growth Portfolio - S Class Shares (AMFAS)
155,004 shares (cost $1,532,304)		1,588,789
Socially Responsive Portfolio - I Class Shares (AMSRS)
189,241 shares (cost $2,835,123)		2,289,818
Capital Appreciation Fund/VA - Non-Service Shares (OVGR)
2,361,729 shares (cost $84,847,754)		87,242,271
Global Securities Fund/VA - Class 3 (OVGS3)
583,291 shares (cost $17,976,484)		15,556,361
Global Securities Fund/VA - Non-Service Shares (OVGS)
1,834,999 shares (cost $54,017,894)		48,627,482
High Income Fund/VA - Class 3 (OVHI3)
494,305 shares (cost $1,027,361)		983,667
High Income Fund/VA - Non-Service Shares (OVHI)
205,788 shares (cost $1,665,978)		407,461
Main Street Fund(R)/VA - Non-Service Shares (OVGI)
1,466,856 shares (cost $29,914,649)		26,667,443

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Main Street Small Cap Fund(R)/VA - Non-Service Shares (OVSC)
302,787 shares (cost $4,762,850)	$	4,360,135
MidCap Fund/VA - Non-Service Shares (OVAG)
630,831 shares (cost $26,696,682)		23,037,962
Strategic Bond Fund/VA - Non-Service Shares (OVSB)
330,104 shares (cost $1,568,860)		1,749,553
All Asset Portfolio - Administrative Class (PMVAAA)
82,641 shares (cost $801,654)		863,598
Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA)
59,947 shares (cost $657,402)		637,839
Low Duration Portfolio - Administrative Class (PMVLDA)
5,676,436 shares (cost $57,596,032)		57,388,768
Real Return Portfolio - Administrative Class (PMVRRA)
6,065,318 shares (cost $74,485,102)		75,452,552
Total Return Portfolio - Administrative Class (PMVTRA)
21,073,492 shares (cost $220,489,717)		228,015,188
Variable Contracts Trust - Emerging Markets VCT Portfolio - Class I Shares (PIVEMI)
48,137 shares (cost $953,045)		1,316,074
Variable Contracts Trust - High Yield VCT Portfolio - Class I Shares (PIHYB1)
1,937,365 shares (cost $16,127,081)		18,463,089
Putnam VT Growth and Income Fund - IB Shares (PVGIB)
51,867 shares (cost $976,850)		746,880
Putnam VT International Equity Fund - IB Shares (PVTIGB)
113,397 shares (cost $1,751,995)		1,256,443
Putnam VT Small Cap Value Fund - IB Shares (PVTSCB)
343 shares (cost $3,191)		3,761
Putnam VT Vista Fund - IB Shares (PVVIB)
8,124 shares (cost $63,452)		93,671
Putnam VT Voyager Fund - IB Shares (PVTVB)
41,646 shares (cost $1,025,796)		1,349,346
Global Real Estate Portfolio - Class II (VKVGR2)
96,908 shares (cost $538,503)		748,132
Micro-Cap Portfolio - Investment Class (ROCMC)
4,128,057 shares (cost $38,846,038)		39,340,379
Small-Cap Portfolio - Investment Class (ROCSC)
31,826 shares (cost $201,290)		276,251
Blue Chip Growth Portfolio - II (TRBCG2)
338,560 shares (cost $3,086,608)		3,216,317

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Equity Income Portfolio - II (TREI2)
4,047,578 shares (cost $75,843,298)	$	71,277,849
Health Sciences Portfolio - II (TRHS2)
124,138 shares (cost $1,396,430)		1,565,385
Mid-Cap Growth Portfolio - II (TRMCG2)
1,047,355 shares (cost $20,358,595)		20,821,424
New America Growth Portfolio (TRNAG1)
706,430 shares (cost $10,161,822)		13,499,877
Personal Strategy Balanced Portfolio (TRPSB1)
27,652 shares (cost $381,879)		454,043
Worldwide Insurance Trust - Worldwide Emerging Markets Fund - Initial Class (VWEM)
1,693,117 shares (cost $18,030,851)		18,996,775
Worldwide Insurance Trust - Worldwide Hard Assets Fund - Initial Class (VWHA)
1,037,902 shares (cost $29,611,724)		30,369,020
Vanguard(R) Variable Insurance Funds - Balanced Portfolio (VVB)
79,610 shares (cost $1,143,553)		1,381,227
Vanguard(R) Variable Insurance Funds - Diversified Value Portfolio (VVDV)
141,511 shares (cost $1,542,328)		1,634,452
Vanguard(R) Variable Insurance Funds - International Portfolio (VVI)
229,344 shares (cost $3,403,659)		3,683,261
Vanguard(R) Variable Insurance Funds - Mid-Cap Index Portfolio (VVMCI)
268,124 shares (cost $2,785,495)		3,222,851
Vanguard(R) Variable Insurance Funds - Short-Term Investment-Grade Portfolio (VVSTC)
321,514 shares (cost $3,280,735)		3,453,062
Ivy Fund Variable Insurance Portfolios, Inc. - Asset Strategy (WRASP)
493,407 shares (cost $4,310,848)		4,551,824
Ivy Fund Variable Insurance Portfolios, Inc. - Growth (WRGP)
102,264 shares (cost $798,502)		948,820
Ivy Fund Variable Insurance Portfolios, Inc. - Real Estate Securities (WRRESP)
170,834 shares (cost $708,505)		877,712
Ivy Fund Variable Insurance Portfolios, Inc. - Science and Technology (WRSTP)
68,087 shares (cost $926,620)		1,041,489
Advantage Funds Variable Trust - VT Discovery Fund (SVDF)
119,004 shares (cost $1,576,784)		1,868,363
Advantage Funds Variable Trust - VT Opportunity Fund (SVOF)
554,169 shares (cost $8,004,319)		8,318,072

(Continued)

Nationwide VLI Separate Account-4

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, continued

Advantage Funds Variable Trust - VT Small Cap Growth Fund (WFVSCG)
584,869 shares (cost $2,940,396)	$	3,713,921
Total Investments		3,764,648,339
Accounts Receivable - International Equity Flex I Portfolio (obsolete) (WIEP)		1,240
Accounts Receivable - International Equity Flex II Portfolio (obsolete) (WVCP)		203
Total Assets		3,764,649,782
Accounts Payable - VP International Fund - Class III (ACVI3)		3
Accounts Payable - U.S. Equity Flex I Portfolio (WSCP)		726,444
Other Accounts Payable		101,957
Total Accounts Payable		828,404
	$	3,763,821,378
Contract Owners’ Equity:
Accumulation units		3,763,821,378
Total Contract Owners’ Equity (note 8)	$	3,763,821,378

See accompanying notes to financial statements.

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS

Year Ended December 31, 2009

Investment Activity:	Total			AMVAA2		AMVBD2		AMVGS2		AMVGR2		MLVLC2		MLVGA2		CVSSE
Reinvested dividends	$	65,424,850		26,748		25,045		2,091		9,519		16,666		33,614		742
Asset Charges (note 3)		(4,368,321	)	(1,969	)	(1,493	)	(1,125	)	(2,700	)	(2,867	)	-		(214	)
Net investment income (loss)		61,056,529		24,779		23,552		966		6,819		13,799		33,614		528
Realized gain (loss) on investments		(358,177,114	)	(65,240	)	(15,359	)	(186,340	)	(308,612	)	(325,237	)	9,083		(22,950	)
Change in unrealized gain (loss) on investments		1,008,719,318		289,232		72,580		452,147		783,659		604,305		61,427		49,279
Net gain (loss) on investments		650,542,204		223,992		57,221		265,807		475,047		279,068		70,510		26,329
Reinvested capital gains		50,615,249		-		-		-		-		-		-		9,784
Net increase (decrease) in contract owners’ equity resulting from operations	$	762,213,982		248,771		80,773		266,773		481,866		292,867		104,124		36,641
Investment Activity:	CSIEF3			WSCP		DAVVL		OGGO		JPMMV1		JABS		JACAS		JAGTS
Reinvested dividends	$	-		-		16,161		-		-		260,816		6,579		-
Asset Charges (note 3)		(15	)	(30	)	(3,076	)	(5,642	)	(163	)	(14,045	)	(51,876	)	(4,489	)
Net investment income (loss)		(15	)	(30	)	13,085		(5,642	)	(163	)	246,771		(45,297	)	(4,489	)
Realized gain (loss) on investments		2,566		10,414		(143,939	)	(102,721	)	180		(795,610	)	1,745,282		236,968
Change in unrealized gain (loss) on investments		(1,024	)	124,758		715,824		1,006,472		41,137		2,248,632		16,558,142		4,251,296
Net gain (loss) on investments		1,542		135,172		571,885		903,751		41,317		1,453,022		18,303,424		4,488,264
Reinvested capital gains		-		-		-		-		-		320,012		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	1,527		135,142		584,970		898,109		41,154		2,019,805		18,258,127		4,483,775

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	JARLCS			JAIGS2		JAIGS		LOVMCV		MIGIC		MVRISC		MVFIC		MVFSC
Reinvested dividends	$	2,199		75,197		214,063		5,654		20,378		4,742		77,213		36,162
Asset Charges (note 3)		-		-		(73,244	)	(2,071	)	-		(984	)	-		(6,861	)
Net investment income (loss)		2,199		75,197		140,819		3,583		20,378		3,758		77,213		29,301
Realized gain (loss) on investments		(193,632	)	(1,003,544	)	2,092,288		(470,487	)	(119,540	)	(9,041	)	(563,326	)	(105,731	)
Change in unrealized gain (loss) on investments		231,479		10,228,555		26,292,193		733,471		1,031,933		106,342		1,787,278		839,404
Net gain (loss) on investments		37,847		9,225,011		28,384,481		262,984		912,393		97,301		1,223,952		733,673
Reinvested capital gains		(67	)	507,630		1,524,193		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	39,979		9,807,838		30,049,493		266,567		932,771		101,059		1,301,165		762,974
Investment Activity:	MVIVSC			MSVFI		MSEM		MSVMG		MSVEG		MSVRE		NVAGF3		NVAMV1
Reinvested dividends	$	-		240,723		748,969		-		-		1,105,676		8,672		457
Asset Charges (note 3)		(677	)	-		(11,571	)	(16,993	)	(694	)	(37,281	)	-		-
Net investment income (loss)		(677	)	240,723		737,398		(16,993	)	(694	)	1,068,395		8,672		457
Realized gain (loss) on investments		28,429		(123,741	)	(1,492,240	)	(3,580,005	)	(2,036	)	(39,285,801	)	1,344		3,912
Change in unrealized gain (loss) on investments		(29,554	)	136,733		3,233,667		7,296,271		139,072		43,914,953		(8,475	)	(760	)
Net gain (loss) on investments		(1,125	)	12,992		1,741,427		3,716,266		137,036		4,629,152		(7,131	)	3,152
Reinvested capital gains		-		-		-		-		-		-		1,173		2,439
Net increase (decrease) in contract owners’ equity resulting from operations	$	(1,802	)	253,715		2,478,825		3,699,273		136,342		5,697,547		2,714		6,048

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	GVAAA2			GVABD2		GVAGG2		GVAGR2		GVAGI2		HIBF		HIBF3		GEM
Reinvested dividends	$	2,621		8,601		-		-		-		1,809,259		981,264		308,393
Asset Charges (note 3)		-		-		-		-		-		(35,075	)	-		(47,059	)
Net investment income (loss)		2,621		8,601		-		-		-		1,774,184		981,264		261,334
Realized gain (loss) on investments		(177,856	)	(184,344	)	(356,606	)	(992,070	)	(294,455	)	(2,015,466	)	(1,275,133	)	(10,300,909	)
Change in unrealized gain (loss) on investments		826,043		472,238		1,635,045		2,098,032		744,397		7,106,133		3,979,738		21,638,633
Net gain (loss) on investments		648,187		287,894		1,278,439		1,105,962		449,942		5,090,667		2,704,605		11,337,724
Reinvested capital gains		83,925		822		339,649		642,236		47,807		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	734,733		297,317		1,618,088		1,748,198		497,749		6,864,851		3,685,869		11,599,058
Investment Activity:	GEM3			GVGU1		GIG		GIG3		NVIE6		GEF		GEF3		NVNMO1
Reinvested dividends	$	148,491		108,269		58,583		3,333		498		37,027		64		10,318
Asset Charges (note 3)		-		(1,861	)	(3,363	)	-		-		(865	)	-		-
Net investment income (loss)		148,491		106,408		55,220		3,333		498		36,162		64		10,318
Realized gain (loss) on investments		(1,938,071	)	(932,336	)	(4,204,394	)	(8,426	)	(24,066	)	(329,610	)	63		104,269
Change in unrealized gain (loss) on investments		7,575,496		1,013,356		5,470,605		469,935		83,896		1,154,975		424		1,500,363
Net gain (loss) on investments		5,637,425		81,020		1,266,211		461,509		59,830		825,365		487		1,604,632
Reinvested capital gains		-		-		-		-		-		-		-		32,649
Net increase (decrease) in contract owners’ equity resulting from operations	$	5,785,916		187,428		1,321,431		464,842		60,328		861,527		551		1,647,599

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	NVNSR1			NVCRA1		NVCRB1		NVCCA1		NVCCN1		NVCMD1		NVCMA1		NVCMC1
Reinvested dividends	$	300		3,137		14,685		18,627		23,300		32,429		36,889		12,101
Asset Charges (note 3)		-		-		-		-		(14	)	-		-		-
Net investment income (loss)		300		3,137		14,685		18,627		23,286		32,429		36,889		12,101
Realized gain (loss) on investments		(9,127	)	(89,222	)	(15,424	)	(14,153	)	11,717		(17,203	)	(228,372	)	(454	)
Change in unrealized gain (loss) on investments		31,839		177,395		138,862		246,582		102,299		350,508		786,425		75,372
Net gain (loss) on investments		22,712		88,173		123,438		232,429		114,016		333,305		558,053		74,918
Reinvested capital gains		-		79		-		-		1,717		118		1,157		387
Net increase (decrease) in contract owners’ equity resulting from operations	$	23,012		91,389		138,123		251,056		139,019		365,852		596,099		87,406
Investment Activity:	NVCBD1			NVLCP1		TRF		GVGF1		GBF		CAF		GVGH1		GVGHS
Reinvested dividends	$	16,101		10,487		3,587,190		22,473		4,158,936		70,330		7,650		6,852
Asset Charges (note 3)		-		-		(241,748	)	(1,433	)	(180,779	)	(2,827	)	(2,848	)	-
Net investment income (loss)		16,101		10,487		3,345,442		21,040		3,978,157		67,503		4,802		6,852
Realized gain (loss) on investments		24,773		21,401		(1,042,850	)	(1,389,231	)	947,871		258,366		(266,588	)	(339,358	)
Change in unrealized gain (loss) on investments		3,669		9,164		61,992,768		1,963,916		(3,501,589	)	3,518,953		738,864		735,726
Net gain (loss) on investments		28,442		30,565		60,949,918		574,685		(2,553,718	)	3,777,319		472,276		396,368
Reinvested capital gains		3,009		4,977		-		-		1,702,702		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	47,552		46,029		64,295,360		595,725		3,127,141		3,844,822		477,078		403,220

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	GVIX2			GVIX6		GVIDA		NVDBL2		NVDCA2		GVIDC		GVIDM		GVDMA
Reinvested dividends	$	30,818		11,544		252,719		135		814		308,736		1,052,225		821,640
Asset Charges (note 3)		(2,598	)	-		(16,169	)	-		-		(21,853	)	(37,248	)	(16,466	)
Net investment income (loss)		28,220		11,544		236,550		135		814		286,883		1,014,977		805,174
Realized gain (loss) on investments		(315,049	)	(260,909	)	(2,064,061	)	19		(97	)	(1,906,856	)	(2,373,635	)	(2,858,759	)
Change in unrealized gain (loss) on investments		632,696		311,663		6,579,751		113		2,401		2,658,897		12,852,063		13,647,980
Net gain (loss) on investments		317,647		50,754		4,515,690		132		2,304		752,041		10,478,428		10,789,221
Reinvested capital gains		-		-		1,352,345		155		650		94,127		1,648,516		2,700,488
Net increase (decrease) in contract owners’ equity resulting from operations	$	345,867		62,298		6,104,585		422		3,768		1,133,051		13,141,921		14,294,883
Investment Activity:	GVDMC			GVUS1		MCIF		SAM		SAM5		NVMIG3		GVDIVI		GVDIV3
Reinvested dividends	$	303,244		8,016		408,760		55,128		208,248		54,487		20,448		107,135
Asset Charges (note 3)		(7,625	)	(409	)	(45,944	)	(19,575	)	(751,286	)	-		-		-
Net investment income (loss)		295,619		7,607		362,816		35,553		(543,038	)	54,487		20,448		107,135
Realized gain (loss) on investments		(1,269,197	)	(754,822	)	(5,522,677	)	-		-		69,102		(168,939	)	(1,214,689	)
Change in unrealized gain (loss) on investments		3,097,306		1,037,888		17,238,205		-		-		2,136,753		402,617		2,465,427
Net gain (loss) on investments		1,828,109		283,066		11,715,528		-		-		2,205,855		233,678		1,250,738
Reinvested capital gains		274,021		-		1,328,431		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	2,397,749		290,673		13,406,775		35,553		(543,038	)	2,260,342		254,126		1,357,873

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	NVMLG1			NVMLV1		NVMMG1		NVMMV1		NVMMV2		SCGF		SCVF		SCF
Reinvested dividends	$	7,951		20,167		-		-		51,381		-		183,259		154,628
Asset Charges (note 3)		-		-		(491	)	(3	)	-		(7,445	)	(21,366	)	(72,788	)
Net investment income (loss)		7,951		20,167		(491	)	(3	)	51,381		(7,445	)	161,893		81,840
Realized gain (loss) on investments		31,265		(6,313	)	302,640		(1,298	)	79,482		(1,258,724	)	(4,761,068	)	(13,079,026	)
Change in unrealized gain (loss) on investments		260,488		348,841		4,194,989		(81	)	1,177,622		3,866,242		12,393,594		30,488,109
Net gain (loss) on investments		291,753		342,528		4,497,629		(1,379	)	1,257,104		2,607,518		7,632,526		17,409,083
Reinvested capital gains		-		-		-		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	299,704		362,695		4,497,138		(1,382	)	1,308,485		2,600,073		7,794,419		17,490,923
Investment Activity:	MSBF			NVSTB1		NVSTB2		GGTC		GGTC3		GVUG1		NVOLG1		NVTIV3
Reinvested dividends	$	1,209,874		12,449		38,007		-		-		-		457		368
Asset Charges (note 3)		(6,454	)	(1,390	)	-		(5,207	)	-		(919	)	-		-
Net investment income (loss)		1,203,420		11,059		38,007		(5,207	)	-		(919	)	457		368
Realized gain (loss) on investments		(1,276,189	)	17,656		30,565		(949,836	)	(638,693	)	(1,653,326	)	1,424		4,120
Change in unrealized gain (loss) on investments		2,935,874		7,478		(13,643	)	2,357,643		1,482,600		2,371,469		10,079		(436	)
Net gain (loss) on investments		1,659,685		25,134		16,922		1,407,807		843,907		718,143		11,503		3,684
Reinvested capital gains		-		2,224		10,128		-		-		-		7,009		195
Net increase (decrease) in contract owners’ equity resulting from operations	$	2,863,105		38,417		65,057		1,402,600		843,907		717,224		18,969		4,247

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	EIF			NVRE1		AMTB		AVBVI		AVCA		AVCDI		AVIE		ALVGIA
Reinvested dividends	$	88,317		179,460		290,441		8,837		4,684		-		436,280		407,760
Asset Charges (note 3)		(703	)	(83	)	-		(1,191	)	-		(12,329	)	(58,831	)	(17,089	)
Net investment income (loss)		87,614		179,377		290,441		7,646		4,684		(12,329	)	377,449		390,671
Realized gain (loss) on investments		(906,434	)	137,380		(300,148	)	(3,531,453	)	(74,322	)	(3,608,941	)	(3,733,536	)	(2,433,244	)
Change in unrealized gain (loss) on investments		2,824,759		3,191,020		492,764		4,600,082		213,629		6,335,247		11,299,759		3,892,452
Net gain (loss) on investments		1,918,325		3,328,400		192,616		1,068,629		139,307		2,726,306		7,566,223		1,459,208
Reinvested capital gains		-		71,568		-		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	2,005,939		3,579,345		483,057		1,076,275		143,991		2,713,977		7,943,672		1,849,879
Investment Activity:	ALVIVA			ALVSVA		ACVIG		ACVIP2		ACVI		ACVI3		ACVMV1		ACVU1
Reinvested dividends	$	380,972		62,246		681,534		408,663		530,451		149,185		79,577		7,737
Asset Charges (note 3)		(71,725	)	(5,393	)	(4,685	)	-		(30,460	)	-		(424	)	(979	)
Net investment income (loss)		309,247		56,853		676,849		408,663		499,991		149,185		79,153		6,758
Realized gain (loss) on investments		(14,852,340	)	(1,362,274	)	(916,664	)	(17,598	)	(1,817,728	)	(2,457,774	)	(337,105	)	(1,249,197	)
Change in unrealized gain (loss) on investments		23,712,549		3,299,033		2,634,136		1,696,211		7,646,953		3,577,208		837,183		1,752,880
Net gain (loss) on investments		8,860,209		1,936,759		1,717,472		1,678,613		5,829,225		1,119,434		500,078		503,683
Reinvested capital gains		-		242,912		-		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	9,169,456		2,236,524		2,394,321		2,087,276		6,329,216		1,268,619		579,231		510,441

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	ACVV			ACVVS1		DVMCS		DVSCS		DSIF		DSRG		DCAP		DSC
Reinvested dividends	$	2,603,542		-		8,798		544,476		4,966,610		90,729		546,742		8,771
Asset Charges (note 3)		(36,000	)	(3,136	)	(1,044	)	(31,067	)	(355,191	)	(1,212	)	(16,860	)	-
Net investment income (loss)		2,567,542		(3,136	)	7,754		513,409		4,611,419		89,517		529,882		8,771
Realized gain (loss) on investments		(5,673,840	)	(2,157,073	)	(194,997	)	(5,382,740	)	(15,363,916	)	(339,716	)	(1,158,330	)	(237,303	)
Change in unrealized gain (loss) on investments		11,996,736		2,667,921		397,732		6,521,628		53,256,000		3,016,835		3,343,161		339,478
Net gain (loss) on investments		6,322,896		510,848		202,735		1,138,888		37,892,084		2,677,119		2,184,831		102,175
Reinvested capital gains		-		-		-		3,690,903		15,610,923		-		1,595,366		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	8,890,438		507,712		210,489		5,343,200		58,114,426		2,766,636		4,310,079		110,946
Investment Activity:	DVIV			SVSSVB		SVSHEB		FVCA2P		FALF		FVMOS		FQB		FCS
Reinvested dividends	$	848,252		71,681		21,991		5,549		4,980		11,339		2,062,872		1,691,978
Asset Charges (note 3)		(46,172	)	(5,433	)	(1,265	)	-		-		-		(30,980	)	(141,346	)
Net investment income (loss)		802,080		66,248		20,726		5,549		4,980		11,339		2,031,892		1,550,632
Realized gain (loss) on investments		(5,642,350	)	(991,504	)	(365,065	)	(15,641	)	(90,243	)	(17,471	)	(284,840	)	(38,137,604	)
Change in unrealized gain (loss) on investments		10,533,052		1,926,210		449,631		85,511		112,514		2,498		4,238,316		74,183,384
Net gain (loss) on investments		4,890,702		934,706		84,566		69,870		22,271		(14,973	)	3,953,476		36,045,780
Reinvested capital gains		-		-		-		-		-		11,510		-		36,005
Net increase (decrease) in contract owners’ equity resulting from operations	$	5,692,782		1,000,954		105,292		75,419		27,251		7,876		5,985,368		37,632,417

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	FNRS2			FEIS		FF10S		FF20S		FF30S		FGIS		FGOS		FGS
Reinvested dividends	$	19,097		1,226,042		66,915		173,253		57,146		637		25,552		194,596
Asset Charges (note 3)		-		(45,772	)	(124	)	(4,287	)	(899	)	(113	)	(1,251	)	(54,240	)
Net investment income (loss)		19,097		1,180,270		66,791		168,966		56,247		524		24,301		140,356
Realized gain (loss) on investments		(3,503,742	)	(8,802,232	)	(158,183	)	(690,784	)	(258,601	)	(3,209	)	(205,046	)	(170,254	)
Change in unrealized gain (loss) on investments		7,057,894		22,562,984		488,742		1,954,092		870,053		14,001		2,704,979		15,472,365
Net gain (loss) on investments		3,554,152		13,760,752		330,559		1,263,308		611,452		10,792		2,499,933		15,302,111
Reinvested capital gains		-		-		14,154		63,886		31,524		-		-		51,075
Net increase (decrease) in contract owners’ equity resulting from operations	$	3,573,249		14,941,022		411,504		1,496,160		699,223		11,316		2,524,234		15,493,542
Investment Activity:	FHIS			FHISR		FIP		FIGBS		FMCS		FOS		FOSR		FVSS
Reinvested dividends	$	1,029,739		265,552		97,176		1,455,800		190,009		542,722		221,481		15,351
Asset Charges (note 3)		(15,632	)	-		(7,736	)	(4,490	)	(32,169	)	(43,815	)	-		(705	)
Net investment income (loss)		1,014,107		265,552		89,440		1,451,310		157,840		498,907		221,481		14,646
Realized gain (loss) on investments		(2,346,308	)	(368,107	)	(905,611	)	(218,707	)	(4,816,852	)	(2,964,630	)	(1,450,487	)	(1,474,268	)
Change in unrealized gain (loss) on investments		7,293,431		1,117,802		1,620,518		1,108,825		15,544,782		8,680,677		3,796,623		2,868,659
Net gain (loss) on investments		4,947,123		749,695		714,907		890,118		10,727,930		5,716,047		2,346,136		1,394,391
Reinvested capital gains		-		-		79,994		66,026		167,621		86,971		34,875		-
Net increase (decrease) in contract owners' equity resulting from operations	$	5,961,230		1,015,247		884,341		2,407,454		11,053,391		6,301,925		2,602,492		1,409,037

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	FF15S			FF25S		FTVIS2		FTVRDI		FTVSVI		FTVSV2		FTVMD2		FTVDM3
Reinvested dividends	$	37,962		17,773		313,612		163,842		150,962		60,184		2,371		145,606
Asset Charges (note 3)		(2,117	)	(1,126	)	-		-		-		(8,381	)	(421	)	-
Net investment income (loss)		35,845		16,647		313,612		163,842		150,962		51,803		1,950		145,606
Realized gain (loss) on investments		(236,332	)	(28,032	)	(499,666	)	(577,159	)	(917,805	)	(1,390,336	)	(10,390	)	(805,887	)
Change in unrealized gain (loss) on investments		406,105		139,482		1,348,478		1,903,727		2,461,641		2,181,594		44,892		2,635,761
Net gain (loss) on investments		169,773		111,450		848,812		1,326,568		1,543,836		791,258		34,502		1,829,874
Reinvested capital gains		13,329		5,650		-		-		350,550		165,739		5,595		13,648
Net increase (decrease) in contract owners’ equity resulting from operations	$	218,947		133,747		1,162,424		1,490,410		2,045,348		1,008,800		42,047		1,989,128
Investment Activity:	TIF			TIF2		TIF3		FTVGI2		FTVGI3		FTVFA2		GVMCE		SBVSG
Reinvested dividends	$	55,755		365,815		175,850		293,710		1,010,310		6,436		740,402		-
Asset Charges (note 3)		-		(24,549	)	-		(4,219	)	-		-		(91,665	)	(506	)
Net investment income (loss)		55,755		341,266		175,850		289,491		1,010,310		6,436		648,737		(506	)
Realized gain (loss) on investments		(81,845	)	(3,399,112	)	(726,575	)	(32,038	)	(194,950	)	(33,732	)	(7,867,883	)	(18,609	)
Change in unrealized gain (loss) on investments		438,313		6,489,010		1,930,983		52,782		312,003		83,885		18,839,243		104,712
Net gain (loss) on investments		356,468		3,089,898		1,204,408		20,744		117,053		50,153		10,971,360		86,103
Reinvested capital gains		62,378		451,291		212,562		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	474,601		3,882,455		1,592,820		310,235		1,127,363		56,589		11,620,097		85,597

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	BNCAI			AMGP		AMINS		AMCG		AMTP		AMRI		AMRS		AMFAS
Reinvested dividends	$	-		16,262		-		-		41,120		44,473		-		-
Asset Charges (note 3)		(21,202	)	(2,446	)	-		(14,212	)	(1,856	)	(5,621	)	-		(1,318	)
Net investment income (loss)		(21,202	)	13,816		-		(14,212	)	39,264		38,852		-		(1,318	)
Realized gain (loss) on investments		(1,758,205	)	(1,542,769	)	(1,466,302	)	3,341,833		(8,477,055	)	(406,048	)	(397,742	)	(528,882	)
Change in unrealized gain (loss) on investments		4,837,859		2,680,187		1,820,124		1,225,579		11,536,812		1,298,460		561,579		842,176
Net gain (loss) on investments		3,079,654		1,137,418		353,822		4,567,412		3,059,757		892,412		163,837		313,294
Reinvested capital gains		-		-		-		-		182,659		37,516		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	3,058,452		1,151,234		353,822		4,553,200		3,281,680		968,780		163,837		311,976
Investment Activity:	AMSRS			OVGR		OVGS3		OVGS		OVHI3		OVHI		OVGI		OVSC
Reinvested dividends	$	49,340		248,633		288,133		883,484		-		-		466,930		30,280
Asset Charges (note 3)		-		(102,588	)	-		(69,723	)	-		-		(7,659	)	-
Net investment income (loss)		49,340		146,045		288,133		813,761		-		-		459,271		30,280
Realized gain (loss) on investments		(593,019	)	(2,935,835	)	(1,112,664	)	(5,381,641	)	(754,547	)	(470,256	)	(799,855	)	(494,419	)
Change in unrealized gain (loss) on investments		1,138,345		31,182,105		5,057,893		17,448,044		976,180		557,363		6,382,896		1,681,672
Net gain (loss) on investments		545,326		28,246,270		3,945,229		12,066,403		221,633		87,107		5,583,041		1,187,253
Reinvested capital gains		-		-		275,295		842,392		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	594,666		28,392,315		4,508,657		13,722,556		221,633		87,107		6,042,312		1,217,533

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	OVAG			OVSB		PMVAAA		PMVFBA		PMVLDA		PMVRRA		PMVTRA		PIVEMI
Reinvested dividends	$	-		4,129		54,808		9,979		1,496,467		2,108,509		10,615,888		9,628
Asset Charges (note 3)		(12,026	)	(2,564	)	(1,454	)	(280	)	(94,486	)	(168,515	)	(455,374	)	(1,804	)
Net investment income (loss)		(12,026	)	1,565		53,354		9,699		1,401,981		1,939,994		10,160,514		7,824
Realized gain (loss) on investments		(1,129,222	)	(81,767	)	47,363		81,133		(157,572	)	(68,919	)	2,719,493		85,798
Change in unrealized gain (loss) on investments		6,737,017		313,267		73,226		(19,563	)	1,291,678		6,383,343		6,413,613		380,336
Net gain (loss) on investments		5,607,795		231,500		120,589		61,570		1,134,106		6,314,424		9,133,106		466,134
Reinvested capital gains		-		622		-		9,479		2,576,351		2,826,272		6,877,332		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	5,595,769		233,687		173,943		80,748		5,112,438		11,080,690		26,170,952		473,958
Investment Activity:	PIHYB1			PVGIB		PVTIGB		PVTSCB		PVVIB		PVTVB		VKVGR2		ROCMC
Reinvested dividends	$	1,190,023		17,919		-		45		-		5,777		110		-
Asset Charges (note 3)		(31,606	)	-		-		(6	)	(142	)	-		(1,389	)	(73,599	)
Net investment income (loss)		1,158,417		17,919		-		39		(142	)	5,777		(1,279	)	(73,599	)
Realized gain (loss) on investments		(2,909,377	)	(138,463	)	(426,118	)	452		3,470		7,386		(61,518	)	(8,656,246	)
Change in unrealized gain (loss) on investments		8,661,414		299,375		715,663		756		30,219		398,764		306,866		24,040,908
Net gain (loss) on investments		5,752,037		160,912		289,545		1,208		33,689		406,150		245,348		15,384,662
Reinvested capital gains		-		-		-		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	6,910,454		178,831		289,545		1,247		33,547		411,927		244,069		15,311,063

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	ROCSC			TRBCG2		TREI2		TRHS2		TRLT2		TRMCG2		TRNAG1		TRPSB1
Reinvested dividends	$	-		-		1,070,001		-		55,596		-		-		8,943
Asset Charges (note 3)		(456	)	(752	)	(129,338	)	(2,633	)	-		(39,987	)	(26,319	)	(969	)
Net investment income (loss)		(456	)	(752	)	940,663		(2,633	)	55,596		(39,987	)	(26,319	)	7,974
Realized gain (loss) on investments		(26,692	)	(358,102	)	(12,130,552	)	(185,395	)	67,765		(4,004,691	)	(1,964,836	)	(95,706	)
Change in unrealized gain (loss) on investments		102,125		1,319,164		25,683,362		545,834		35,191		10,715,898		6,203,128		185,158
Net gain (loss) on investments		75,433		961,062		13,552,810		360,439		102,956		6,711,207		4,238,292		89,452
Reinvested capital gains		-		-		-		-		-		20,964		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	74,977		960,310		14,493,473		357,806		158,552		6,692,184		4,211,973		97,426
Investment Activity:	VWEM			VWHA		VVB		VVDV		VVI		VVMCI		VVSTC		WRASP
Reinvested dividends	$	20,567		55,048		56,897		47,382		97,125		40,752		106,713		2,305
Asset Charges (note 3)		(9,718	)	(27,164	)	(2,437	)	(2,516	)	(5,796	)	(5,165	)	(5,876	)	(2,184	)
Net investment income (loss)		10,849		27,884		54,460		44,866		91,329		35,587		100,837		121
Realized gain (loss) on investments		(8,929,462	)	(5,731,591	)	(179,323	)	(201,304	)	(570,258	)	(588,270	)	(4,977	)	(24,263	)
Change in unrealized gain (loss) on investments		17,730,793		15,745,952		373,050		479,742		1,513,119		1,336,235		246,123		330,887
Net gain (loss) on investments		8,801,331		10,014,361		193,727		278,438		942,861		747,965		241,146		306,624
Reinvested capital gains		831,487		109,163		-		-		-		101,879		12,942		62,302
Net increase (decrease) in contract owners’ equity resulting from operations	$	9,643,667		10,151,408		248,187		323,304		1,034,190		885,431		354,925		369,047

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2009

Investment Activity:	WRGP			WRRESP		WRSTP		SVDF		SVOF		WFVSCG		OGMVP		WIEP
Reinvested dividends	$	3,076		14,802		-		-		-		-		3,345		4,209
Asset Charges (note 3)		(1,388	)	(976	)	(1,918	)	(807	)	(13,388	)	(4,336	)	(62	)	(89	)
Net investment income (loss)		1,688		13,826		(1,918	)	(807	)	(13,388	)	(4,336	)	3,283		4,120
Realized gain (loss) on investments		(133,903	)	(16,435	)	(56,620	)	(104,336	)	(8,660,730	)	(191,163	)	(193,176	)	93,379
Change in unrealized gain (loss) on investments		323,926		261,570		302,917		487,368		13,914,162		1,103,171		185,593		52,379
Net gain (loss) on investments		190,023		245,135		246,297		383,032		5,253,432		912,008		(7,583	)	145,758
Reinvested capital gains		22,732		-		45,120		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	214,443		258,961		289,499		382,225		5,240,044		907,672		(4,300	)	149,878
Investment Activity:	WVCP			BF		SGRF		PVOEGB		WGIP
Reinvested dividends	$	6,776		97,245		-		-		67,087
Asset Charges (note 3)		(30	)	(2,637	)	(406	)	(16	)	(85	)
Net investment income (loss)		6,746		94,608		(406	)	(16	)	67,002
Realized gain (loss) on investments		(125,903	)	(4,616,970	)	(3,918,506	)	(6,492	)	(525,886	)
Change in unrealized gain (loss) on investments		196,067		4,327,370		4,212,112		7,288		664,850
Net gain (loss) on investments		70,164		(289,600	)	293,606		796		138,964
Reinvested capital gains		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations	$	76,910		(194,992	)	293,200		780		205,966

See accompanying notes to financial statements.

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

Years Ended December 31, 2009 and 2008

	Total					AMVAA2				AMVBD2				AMVGS2
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	61,056,529		79,188,839		24,779		22,724		23,552		32,914		966		(549	)
Realized gain (loss) on investments		(358,177,114	)	(64,441,051	)	(65,240	)	(11,900	)	(15,359	)	(76,830	)	(186,340	)	(71,342	)
Change in unrealized gain (loss) on investments		1,008,719,318		(1,787,300,699	)	289,232		(242,674	)	72,580		(29,824	)	452,147		(217,818	)
Reinvested capital gains		50,615,249		265,246,757		-		29,648		-		1,410		-		50,646
Net increase (decrease) in contract owners’ equity resulting from operations		762,213,982		(1,507,306,154	)	248,771		(202,202	)	80,773		(72,330	)	266,773		(239,063	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		272,284,700		354,312,622		121,519		40,861		60,167		10,249		63,208		9,318
Transfers between funds		-		-		233,650		984,907		172,236		634,364		348,701		480,877
Surrenders (note 6)		(355,058,443	)	(249,501,663	)	(9,371	)	(7,923	)	(3,527	)	-		-		-
Death benefits (note 4)		(11,445,523	)	(9,350,811	)	(1,226	)	-		(3,035	)	-		(1,736	)	-
Net policy repayments (loans) (note 5)		(3,094,048	)	(32,613,869	)	(20,918	)	-		-		-		-		-
Deductions for surrender charges (note 2d)		(4,834,935	)	(5,918,247	)	-		-		-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(123,944,193	)	(126,435,392	)	(44,645	)	(20,574	)	(9,281	)	(5,739	)	(4,710	)	(2,542	)
Asset charges (note 3):
FPVUL & VEL contracts		(4,763,557	)	(5,877,081	)	(584	)	-		(30	)	-		-		-
MSP contracts		(257,792	)	(304,548	)	-		-		-		-		-		-
SL contracts or LSFP contracts		(865,995	)	(1,120,126	)	-		-		-		-		-		-
Adjustments to maintain reserves		(316,113	)	(110,891	)	15		(20	)	17		(27	)	3		(11	)
Net equity transactions		(232,295,899	)	(76,920,006	)	278,440		997,251		216,547		638,847		405,466		487,642
Net change in contract owners’ equity		529,918,083		(1,584,226,160	)	527,211		795,049		297,320		566,517		672,239		248,579
Contract owners’ equity beginning of period		3,233,903,295		4,818,129,455		795,049		-		566,517		-		248,579		-
Contract owners’ equity end of period	$	3,763,821,378		3,233,903,295		1,322,260		795,049		863,837		566,517		920,818		248,579
CHANGES IN UNITS:
Beginning units		307,038,686		307,056,666		116,841		-		62,336		-		49,331		-
Units purchased		64,050,669		69,158,972		51,072		120,686		23,944		62,941		68,718		49,656
Units redeemed		(77,331,694	)	(69,176,952	)	(10,936	)	(3,845	)	(1,695	)	(605	)	(4,519	)	(325	)
Ending units		293,757,661		307,038,686		156,977		116,841		84,585		62,336		113,530		49,331

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	AMVGR2					MLVLC2				MLVGA2			CVSSE
	2009			2008		2009		2008		2009		2008	2009		2008
Investment activity:
Net investment income (loss)	$	6,819		8,362		13,799		6,543		33,614		-	528		(306	)
Realized gain (loss) on investments		(308,612	)	(189,583	)	(325,237	)	(1,007,485	)	9,083		-	(22,950	)	(22,036	)
Change in unrealized gain (loss) on investments		783,659		(468,570	)	604,305		11,025		61,427		-	49,279		(50,892	)
Reinvested capital gains		-		120,744		-		26,100		-		-	9,784		1,159
Net increase (decrease) in contract owners’ equity resulting from operations		481,866		(529,047	)	292,867		(963,817	)	104,124		-	36,641		(72,075	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		66,140		(742	)	144,241		125,565		206,933		-	1,239		6,049
Transfers between funds		393,875		1,386,022		204,761		(1,831,055	)	2,696,159		-	56,921		57,071
Surrenders (note 6)		-		-		(39,389	)	(5,793	)	(3,828	)	-	(2	)	(10,675	)
Death benefits (note 4)		(5,180	)	-		(1,174	)	-		-		-	(873	)	(19	)
Net policy repayments (loans) (note 5)		-		-		(2,560	)	(120,170	)	(991	)	-	-		-
Deductions for surrender charges (note 2d)		-		-		-		-		-		-	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(11,775	)	(8,558	)	(30,948	)	(34,365	)	(23,364	)	-	(1,464	)	(1,253	)
Asset charges (note 3):
FPVUL & VEL contracts		-		-		(62	)	-		(1,608	)	-	-		-
MSP contracts		-		-		-		-		(132	)	-	-		-
SL contracts or LSFP contracts		-		-		-		-		(736	)	-	-		-
Adjustments to maintain reserves		13		(35	)	37		(163	)	3		-	16		(47	)
Net equity transactions		443,073		1,376,687		274,906		(1,865,981	)	2,872,437		-	55,837		51,126
Net change in contract owners’ equity		924,939		847,640		567,773		(2,829,798	)	2,976,561		-	92,478		(20,949	)
Contract owners’ equity beginning of period		847,640		-		906,472		3,736,270		-		-	113,687		134,636
Contract owners’ equity end of period	$	1,772,579		847,640		1,474,245		906,472		2,976,561		-	206,165		113,687
CHANGES IN UNITS:
Beginning units		150,751		-		103,948		261,702		-		-	10,503		7,972
Units purchased		78,538		151,812		67,765		27,156		247,162		-	5,351		3,624
Units redeemed		(2,690	)	(1,061	)	(33,125	)	(184,910	)	(2,833	)	-	(1,681	)	(1,093	)
Ending units		226,599		150,751		138,588		103,948		244,329		-	14,173		10,503

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	CSIEF3				WSCP			DAVVL				OGGO
	2009			2008	2009		2008	2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(15	)	-	(30	)	-	13,085		5,946		(5,642	)	(12,040	)
Realized gain (loss) on investments		2,566		-	10,414		-	(143,939	)	(14,339	)	(102,721	)	(2,966,786	)
Change in unrealized gain (loss) on investments		(1,024	)	-	124,758		-	715,824		(173,146	)	1,006,472		(148,137	)
Reinvested capital gains		-		-	-		-	-		10,250		-		853,551
Net increase (decrease) in contract owners’ equity resulting from operations		1,527		-	135,142		-	584,970		(171,289	)	898,109		(2,273,412	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		4,816		-	36,205		-	148,479		78,937		24,312		103,324
Transfers between funds		462,115		-	998,589		-	991,950		559,615		(358,578	)	(1,562,266	)
Surrenders (note 6)		-		-	(13,685	)	-	(18,571	)	-		(384,949	)	(73,614	)
Death benefits (note 4)		-		-	-		-	(12,457	)	-		-		(23,060	)
Net policy repayments (loans) (note 5)		-		-	828		-	(18,200	)	(9,443	)	66,622		(104,328	)
Deductions for surrender charges (note 2d)		-		-	-		-	-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(668	)	-	(13,927	)	-	(30,638	)	(9,996	)	(53,929	)	(83,433	)
Asset charges (note 3):
FPVUL & VEL contracts		(46	)	-	(862	)	-	(842	)	-		-		-
MSP contracts		(1	)	-	(25	)	-	-		-		-		-
SL contracts or LSFP contracts		-		-	(171	)	-	-		-		-		-
Adjustments to maintain reserves		(3,176	)	-	(52,406	)	-	9		20		15		2,687
Net equity transactions		463,041		-	954,546		-	1,059,730		619,133		(706,507	)	(1,740,690	)
Net change in contract owners’ equity		464,568		-	1,089,688		-	1,644,700		447,844		191,602		(4,014,102	)
Contract owners’ equity beginning of period		-		-	-		-	447,844		-		2,746,253		6,760,355
Contract owners’ equity end of period	$	464,568		-	1,089,688		-	2,092,544		447,844		2,937,855		2,746,253
CHANGES IN UNITS:
Beginning units		-		-	-		-	76,781		-		237,302		327,330
Units purchased		46,164		-	103,318		-	211,685		79,367		17,698		76,989
Units redeemed		(206	)	-	(3,127	)	-	(14,638	)	(2,586	)	(77,729	)	(167,017	)
Ending units		45,958		-	100,191		-	273,828		76,781		177,271		237,302

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	JPMMV1				JABS				JACAS				JAGTS
	2009			2008	2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(163	)	-	246,771		183,683		(45,297	)	(56,322	)	(4,489	)	6,537
Realized gain (loss) on investments		180		-	(795,610	)	(311,920	)	1,745,282		4,368,600		236,968		537,116
Change in unrealized gain (loss) on investments		41,137		-	2,248,632		(1,914,827	)	16,558,142		(37,016,154	)	4,251,296		(7,484,264	)
Reinvested capital gains		-		-	320,012		603,351		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		41,154		-	2,019,805		(1,439,713	)	18,258,127		(32,703,876	)	4,483,775		(6,940,611	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		-		-	301,338		693,224		4,174,879		3,889,289		852,053		1,209,005
Transfers between funds		129,774		-	3,968,776		(999,771	)	(308,597	)	7,464,889		9,727		(1,097,436	)
Surrenders (note 6)		-		-	(508,732	)	(1,000,338	)	(2,929,548	)	(2,661,445	)	(927,179	)	(573,286	)
Death benefits (note 4)		-		-	(2,997	)	(18,617	)	(39,874	)	(117,974	)	(8,625	)	(26,452	)
Net policy repayments (loans) (note 5)		-		-	(28,182	)	47,892		(372,161	)	(256,623	)	5,616		(275,180	)
Deductions for surrender charges (note 2d)		-		-	(9,173	)	(15,890	)	(77,596	)	(100,155	)	(36,357	)	(23,265	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(1,212	)	-	(228,396	)	(177,585	)	(1,994,792	)	(2,071,717	)	(613,362	)	(603,740	)
Asset charges (note 3):
FPVUL & VEL contracts		-		-	(6,083	)	(5,573	)	(94,454	)	(118,875	)	(30,890	)	(37,035	)
MSP contracts		-		-	(46	)	(17	)	(2,003	)	(2,644	)	(518	)	(715	)
SL contracts or LSFP contracts		-		-	(2,326	)	(1,899	)	(15,179	)	(18,885	)	(3,465	)	(5,854	)
Adjustments to maintain reserves		6		-	127		(503	)	856		2,783		(116	)	(163	)
Net equity transactions		128,568		-	3,484,306		(1,479,077	)	(1,658,469	)	6,008,643		(753,115	)	(1,434,121	)
Net change in contract owners’ equity		169,722		-	5,504,111		(2,918,790	)	16,599,658		(26,695,233	)	3,730,660		(8,374,732	)
Contract owners’ equity beginning of period		-		-	6,244,238		9,163,028		40,131,578		66,826,811		8,113,405		16,488,137
Contract owners’ equity end of period	$	169,722		-	11,748,349		6,244,238		56,731,236		40,131,578		11,844,065		8,113,405
CHANGES IN UNITS:
Beginning units		-		-	463,743		571,358		5,646,789		5,227,208		2,764,915		3,145,552
Units purchased		13,589		-	296,842		184,145		654,414		1,023,547		392,025		335,026
Units redeemed		(110	)	-	(65,412	)	(291,760	)	(828,304	)	(603,966	)	(580,341	)	(715,663	)
Ending units		13,479		-	695,173		463,743		5,472,899		5,646,789		2,576,599		2,764,915

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	JARLCS					JAIGS2				JAIGS				LOVMCV
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	2,199		3,703		75,197		553,994		140,819		1,468,999		3,583		15,755
Realized gain (loss) on investments		(193,632	)	(14,935	)	(1,003,544	)	395,033		2,092,288		5,684,405		(470,487	)	(718,866	)
Change in unrealized gain (loss) on investments		231,479		(242,489	)	10,228,555		(17,126,656	)	26,292,193		(56,149,301	)	733,471		(98,152	)
Reinvested capital gains		(67	)	31,638		507,630		2,970,977		1,524,193		8,232,296		-		63,687
Net increase (decrease) in contract owners’ equity resulting from operations		39,979		(222,083	)	9,807,838		(13,206,652	)	30,049,493		(40,763,601	)	266,567		(737,576	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		13,396		25,019		2,863,554		3,035,699		1,683,512		1,672,411		52,322		146,016
Transfers between funds		(431,701	)	136,801		1,596,794		86,450		(8,108,119	)	14,281,939		93,047		(219,861	)
Surrenders (note 6)		(12,461	)	(22,488	)	(1,171,640	)	(1,331,076	)	(1,902,180	)	(2,829,197	)	(81,151	)	(19,539	)
Death benefits (note 4)		-		-		(9,652	)	(61,395	)	(566,649	)	(115,692	)	(246	)	-
Net policy repayments (loans) (note 5)		(2,767	)	(1,095	)	(113,704	)	4,009		(463,301	)	(544,504	)	(35,760	)	-
Deductions for surrender charges (note 2d)		(59	)	(2,850	)	(65,642	)	(45,204	)	(39,431	)	(62,246	)	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(9,469	)	(15,790	)	(1,062,455	)	(973,497	)	(1,444,266	)	(1,618,549	)	(23,317	)	(26,092	)
Asset charges (note 3):
FPVUL & VEL contracts		(739	)	(1,414	)	(60,863	)	(64,270	)	(65,159	)	(94,060	)	(9	)	-
MSP contracts		(112	)	(293	)	(1,596	)	(1,741	)	(2,355	)	(3,114	)	-		-
SL contracts or LSFP contracts		(58	)	(212	)	(12,063	)	(14,059	)	(11,255	)	(15,065	)	-		-
Adjustments to maintain reserves		68		(185	)	(412	)	(906	)	4,185		5,005		26		179
Net equity transactions		(443,902	)	117,493		1,962,320		634,010		(10,915,019	)	10,676,928		4,912		(119,297	)
Net change in contract owners’ equity		(403,923	)	(104,590	)	11,770,158		(12,572,642	)	19,134,474		(30,086,673	)	271,479		(856,873	)
Contract owners’ equity beginning of period		403,923		508,513		12,048,956		24,621,598		42,160,511		72,247,184		1,032,004		1,888,877
Contract owners’ equity end of period	$	-		403,923		23,819,114		12,048,956		61,294,985		42,160,511		1,303,483		1,032,004
CHANGES IN UNITS:
Beginning units		33,622		26,988		1,692,770		1,653,148		4,806,329		3,915,734		134,578		149,088
Units purchased		1,187		10,038		440,345		331,920		273,003		1,582,325		21,529		25,994
Units redeemed		(34,809	)	(3,404	)	(264,384	)	(292,298	)	(1,175,579	)	(691,730	)	(21,761	)	(40,504	)
Ending units		-		33,622		1,868,731		1,692,770		3,903,753		4,806,329		134,346		134,578

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	MIGIC					MVRISC				MVFIC				MVFSC
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	20,378		22,201		3,758		(146	)	77,213		77,102		29,301		12,641
Realized gain (loss) on investments		(119,540	)	142,842		(9,041	)	(3,739	)	(563,326	)	(23,632	)	(105,731	)	(162,697	)
Change in unrealized gain (loss) on investments		1,031,933		(1,810,696	)	106,342		(34,172	)	1,787,278		(2,829,368	)	839,404		(236,380	)
Reinvested capital gains		-		181,434		-		333		-		260,163		-		58,650
Net increase (decrease) in contract owners’ equity resulting from operations		932,771		(1,464,219	)	101,059		(37,724	)	1,301,165		(2,515,735	)	762,974		(327,786	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		308,957		439,224		84,935		61,855		696,007		689,723		181,598		210,588
Transfers between funds		(177,095	)	(479,285	)	243,655		211,054		449,084		1,208,415		877,781		2,179,192
Surrenders (note 6)		(144,174	)	(168,808	)	-		-		(246,925	)	(516,130	)	(9,776	)	(779	)
Death benefits (note 4)		(6,809	)	-		-		-		(14,795	)	(13,567	)	(2,279	)	-
Net policy repayments (loans) (note 5)		(4,778	)	(16,203	)	-		-		(50,255	)	21,875		-		-
Deductions for surrender charges (note 2d)		(18,020	)	(25,849	)	-		-		(9,796	)	(14,309	)	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(195,706	)	(217,020	)	(9,423	)	(1,229	)	(334,244	)	(312,111	)	(84,084	)	(21,193	)
Asset charges (note 3):
FPVUL & VEL contracts		(12,500	)	(15,544	)	(5	)	-		(17,955	)	(19,144	)	(871	)	-
MSP contracts		(147	)	(177	)	-		-		(476	)	(446	)	-		-
SL contracts or LSFP contracts		(792	)	(922	)	-		-		(5,204	)	(5,238	)	-		-
Adjustments to maintain reserves		75		(201	)	8		(16	)	134		(364	)	11		(139	)
Net equity transactions		(250,989	)	(484,785	)	319,170		271,664		465,575		1,038,704		962,380		2,367,669
Net change in contract owners’ equity		681,782		(1,949,004	)	420,229		233,940		1,766,740		(1,477,031	)	1,725,354		2,039,883
Contract owners’ equity beginning of period		2,638,336		4,587,340		243,439		9,499		5,425,106		6,902,137		2,039,883		-
Contract owners’ equity end of period	$	3,320,118		2,638,336		663,668		243,439		7,191,846		5,425,106		3,765,237		2,039,883
CHANGES IN UNITS:
Beginning units		263,673		289,412		40,234		900		406,164		348,380		309,365		-
Units purchased		28,331		34,762		45,527		39,606		82,247		115,578		173,178		313,653
Units redeemed		(54,239	)	(60,501	)	(1,633	)	(272	)	(49,641	)	(57,794	)	(15,134	)	(4,288	)
Ending units		237,765		263,673		84,128		40,234		438,770		406,164		467,409		309,365

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	MVIVSC				MSVFI				MSEM				MSVMG
	2009			2008	2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(677	)	-	240,723		154,326		737,398		819,894		(16,993	)	56,620
Realized gain (loss) on investments		28,429		-	(123,741	)	(107,670	)	(1,492,240	)	(841,995	)	(3,580,005	)	(981,795	)
Change in unrealized gain (loss) on investments		(29,554	)	-	136,733		(413,202	)	3,233,667		(2,401,089	)	7,296,271		(7,029,521	)
Reinvested capital gains		-		-	-		-		-		481,742		-		2,360,835
Net increase (decrease) in contract owners’ equity resulting from operations		(1,802	)	-	253,715		(366,546	)	2,478,825		(1,941,448	)	3,699,273		(5,593,861	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		3,065		-	206,165		305,945		445,174		613,187		315,242		389,908
Transfers between funds		3,039,919		-	(460,391	)	(24,028	)	(2,259,258	)	324,466		(906,840	)	3,845,128
Surrenders (note 6)		-		-	(84,373	)	(244,066	)	(949,108	)	(461,545	)	(510,236	)	(434,570	)
Death benefits (note 4)		-		-	-		(1,494	)	(16,177	)	(68,046	)	(2,888	)	(7,483	)
Net policy repayments (loans) (note 5)		-		-	(109,745	)	(21,270	)	42,354		(145,616	)	(15,991	)	(25,264	)
Deductions for surrender charges (note 2d)		-		-	(4,794	)	(8,979	)	(21,584	)	(22,328	)	(8,360	)	(8,625	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(3,374	)	-	(178,900	)	(162,370	)	(361,633	)	(340,928	)	(207,596	)	(225,557	)
Asset charges (note 3):
FPVUL & VEL contracts		-		-	(9,679	)	(10,290	)	(18,167	)	(20,654	)	(3,866	)	(9,007	)
MSP contracts		-		-	(474	)	(760	)	(371	)	(784	)	(54	)	(127	)
SL contracts or LSFP contracts		-		-	(2,637	)	(3,085	)	(2,646	)	(3,204	)	(509	)	(1,208	)
Adjustments to maintain reserves		1		-	(122	)	(189	)	350		(1,977	)	63		(307	)
Net equity transactions		3,039,611		-	(644,950	)	(170,586	)	(3,141,066	)	(127,429	)	(1,341,035	)	3,522,888
Net change in contract owners’ equity		3,037,809		-	(391,235	)	(537,132	)	(662,241	)	(2,068,877	)	2,358,238		(2,070,973	)
Contract owners’ equity beginning of period		-		-	2,892,689		3,429,821		10,156,613		12,225,490		7,118,914		9,189,887
Contract owners’ equity end of period	$	3,037,809		-	2,501,454		2,892,689		9,494,372		10,156,613		9,477,152		7,118,914
CHANGES IN UNITS:
Beginning units		-		-	264,578		281,694		515,980		520,660		1,183,540		809,774
Units purchased		231,182		-	18,987		29,162		30,123		71,545		168,550		520,416
Units redeemed		(321	)	-	(74,896	)	(46,278	)	(179,535	)	(76,225	)	(346,614	)	(146,650	)
Ending units		230,861		-	208,669		264,578		366,568		515,980		1,005,476		1,183,540

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	MSVEG					MSVRE				NVAGF3			NVAMV1
	2009			2008		2009		2008		2009		2008	2009		2008
Investment activity:
Net investment income (loss)	$	(694	)	(181	)	1,068,395		1,931,947		8,672		-	457		-
Realized gain (loss) on investments		(2,036	)	(13,359	)	(39,285,801	)	(8,799,452	)	1,344		-	3,912		-
Change in unrealized gain (loss) on investments		139,072		(108,805	)	43,914,953		(37,903,882	)	(8,475	)	-	(760	)	-
Reinvested capital gains		-		-		-		21,917,133		1,173		-	2,439		-
Net increase (decrease) in contract owners’ equity resulting from operations		136,342		(122,345	)	5,697,547		(22,854,254	)	2,714		-	6,048		-
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		25,782		28,868		2,103,699		4,104,448		859		-	73		-
Transfers between funds		34,423		295,330		(21,008,864	)	(8,546,259	)	261,374		-	22,416		-
Surrenders (note 6)		(11,500	)	-		(1,869,963	)	(3,097,720	)	(3	)	-	-		-
Death benefits (note 4)		-		-		(162,578	)	(128,638	)	-		-	-		-
Net policy repayments (loans) (note 5)		(1,811	)	-		445,953		(140,232	)	-		-	-		-
Deductions for surrender charges (note 2d)		-		-		(61,632	)	(102,435	)	-		-	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(4,750	)	(1,231	)	(1,032,429	)	(1,952,954	)	(591	)	-	(709	)	-
Asset charges (note 3):
FPVUL & VEL contracts		-		-		(37,922	)	(105,281	)	(61	)	-	(58	)	-
MSP contracts		-		-		(1,255	)	(4,536	)	-		-	-		-
SL contracts or LSFP contracts		-		-		(5,875	)	(16,171	)	(17	)	-	-		-
Adjustments to maintain reserves		8		(7	)	2,057		11,950		(3	)	-	(3	)	-
Net equity transactions		42,152		322,960		(21,628,809	)	(9,977,828	)	261,558		-	21,719		-
Net change in contract owners’ equity		178,494		200,615		(15,931,262	)	(32,832,082	)	264,272		-	27,767		-
Contract owners’ equity beginning of period		200,615		-		36,804,427		69,636,509		-		-	-		-
Contract owners’ equity end of period	$	379,109		200,615		20,873,165		36,804,427		264,272		-	27,767		-
CHANGES IN UNITS:
Beginning units		39,408		-		1,994,137		2,337,392		-		-	-		-
Units purchased		9,844		39,612		155,566		288,801		23,202		-	2,275		-
Units redeemed		(4,157	)	(204	)	(1,254,384	)	(632,056	)	(59	)	-	(65	)	-
Ending units		45,095		39,408		895,319		1,994,137		23,143		-	2,210		-

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	GVAAA2					GVABD2				GVAGG2				GVAGR2
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	2,621		95,090		8,601		145,928		-		146,319		-		148,113
Realized gain (loss) on investments		(177,856	)	(60,537	)	(184,344	)	(116,576	)	(356,606	)	(55,179	)	(992,070	)	(148,187	)
Change in unrealized gain (loss) on investments		826,043		(1,338,937	)	472,238		(324,421	)	1,635,045		(2,766,102	)	2,098,032		(4,212,956	)
Reinvested capital gains		83,925		44,225		822		2,005		339,649		177,920		642,236		425,788
Net increase (decrease) in contract owners’ equity resulting from operations		734,733		(1,260,159	)	297,317		(293,064	)	1,618,088		(2,497,042	)	1,748,198		(3,787,242	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		417,287		427,926		223,586		170,409		504,914		462,002		658,595		673,379
Transfers between funds		174,388		442,407		237,659		683,675		373,988		1,024,717		172,806		2,070,284
Surrenders (note 6)		(211,363	)	(30,944	)	(287,364	)	(337,813	)	(392,917	)	(294,613	)	(329,491	)	(471,019	)
Death benefits (note 4)		-		(1,471	)	(45,571	)	(1,457	)	(296	)	(43,825	)	(5,016	)	-
Net policy repayments (loans) (note 5)		(15,389	)	(17,227	)	(7,708	)	(24,892	)	(402	)	(34,640	)	(14,180	)	(53,226	)
Deductions for surrender charges (note 2d)		(3,158	)	(2,456	)	(10,873	)	(12,238	)	(11,024	)	(7,365	)	(11,601	)	(12,627	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(254,828	)	(241,638	)	(151,037	)	(115,271	)	(238,358	)	(235,827	)	(292,525	)	(291,463	)
Asset charges (note 3):
FPVUL & VEL contracts		(11,424	)	(11,821	)	(8,608	)	(7,895	)	(14,749	)	(16,120	)	(17,865	)	(21,059	)
MSP contracts		(3,575	)	(4,167	)	(915	)	(988	)	(1,100	)	(993	)	(1,260	)	(1,050	)
SL contracts or LSFP contracts		(2,443	)	(2,579	)	(2,247	)	(1,949	)	(3,145	)	(4,233	)	(5,533	)	(6,612	)
Adjustments to maintain reserves		49		(334	)	78		(192	)	40		(374	)	(76	)	(387	)
Net equity transactions		89,544		557,696		(53,000	)	351,389		216,951		848,729		153,854		1,886,220
Net change in contract owners’ equity		824,277		(702,463	)	244,317		58,325		1,835,039		(1,648,313	)	1,902,052		(1,901,022	)
Contract owners’ equity beginning of period		3,108,938		3,811,401		2,479,742		2,421,417		3,947,846		5,596,159		5,184,740		7,085,762
Contract owners’ equity end of period	$	3,933,215		3,108,938		2,724,059		2,479,742		5,782,885		3,947,846		7,086,792		5,184,740
CHANGES IN UNITS:
Beginning units		395,090		340,142		253,508		223,108		518,855		451,322		801,346		610,966
Units purchased		64,077		95,603		55,238		84,892		105,029		129,180		99,059		280,096
Units redeemed		(54,156	)	(40,655	)	(60,429	)	(54,492	)	(87,152	)	(61,647	)	(111,163	)	(89,716	)
Ending units		405,011		395,090		248,317		253,508		536,732		518,855		789,242		801,346

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	GVAGI2					HIBF				HIBF3				GEM
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	-		39,487		1,774,184		1,742,986		981,264		681,184		261,334		357,336
Realized gain (loss) on investments		(294,455	)	(77,592	)	(2,015,466	)	(1,523,883	)	(1,275,133	)	(1,172,106	)	(10,300,909	)	(251,665	)
Change in unrealized gain (loss) on investments		744,397		(689,449	)	7,106,133		(6,224,368	)	3,979,738		(1,576,546	)	21,638,633		(36,615,968	)
Reinvested capital gains		47,807		529		-		-		-		-		-		8,032,732
Net increase (decrease) in contract owners’ equity resulting from operations		497,749		(727,025	)	6,864,851		(6,005,265	)	3,685,869		(2,067,468	)	11,599,058		(28,477,565	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		286,427		115,482		1,211,131		1,542,758		1,100,053		843,452		1,016,503		1,399,023
Transfers between funds		339,677		1,223,549		(619,286	)	(2,315,421	)	2,117,915		(7,516,602	)	(1,066,354	)	(3,786,944	)
Surrenders (note 6)		(103,274	)	(17,353	)	(958,302	)	(605,538	)	(373,588	)	(458,680	)	(1,299,231	)	(2,068,596	)
Death benefits (note 4)		(28,910	)	(714	)	(16,042	)	(103,419	)	(11,357	)	(10,342	)	(74,865	)	(79,242	)
Net policy repayments (loans) (note 5)		(3,760	)	(33,442	)	(44,517	)	(80,984	)	(39,857	)	(50,003	)	359,012		(187,449	)
Deductions for surrender charges (note 2d)		(2,545	)	(1,922	)	(17,868	)	(13,132	)	(14,439	)	(15,507	)	(9,022	)	(20,263	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(81,550	)	(62,322	)	(466,772	)	(442,939	)	(559,369	)	(407,747	)	(502,866	)	(636,295	)
Asset charges (note 3):
FPVUL & VEL contracts		(5,428	)	(4,699	)	(14,717	)	(18,152	)	(32,343	)	(27,425	)	(10,319	)	(17,800	)
MSP contracts		(723	)	(677	)	(836	)	(1,111	)	(490	)	(416	)	(569	)	(995	)
SL contracts or LSFP contracts		(989	)	(744	)	(1,770	)	(2,817	)	(4,373	)	(4,334	)	(631	)	(1,582	)
Adjustments to maintain reserves		50		(136	)	305		(1,005	)	60		(212	)	10		15,550
Net equity transactions		398,974		1,217,022		(928,674	)	(2,041,760	)	2,182,212		(7,647,816	)	(1,588,333	)	(5,384,593	)
Net change in contract owners’ equity		896,723		489,997		5,936,177		(8,047,025	)	5,868,081		(9,715,284	)	10,010,725		(33,862,158	)
Contract owners’ equity beginning of period		1,427,472		937,475		15,242,239		23,289,264		6,122,292		15,837,576		18,499,477		52,361,635
Contract owners’ equity end of period	$	2,324,195		1,427,472		21,178,416		15,242,239		11,990,373		6,122,292		28,510,202		18,499,477
CHANGES IN UNITS:
Beginning units		232,982		94,768		1,266,632		1,391,470		707,956		1,316,814		1,209,140		1,441,496
Units purchased		95,171		158,192		127,682		413,149		344,819		132,968		220,942		165,155
Units redeemed		(37,895	)	(19,978	)	(203,052	)	(537,987	)	(103,614	)	(741,826	)	(290,352	)	(397,511	)
Ending units		290,258		232,982		1,191,262		1,266,632		949,161		707,956		1,139,730		1,209,140

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	GEM3					GVGU1				GIG				GIG3
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	148,491		199,623		106,408		134,523		55,220		125,409		3,333		1,697
Realized gain (loss) on investments		(1,938,071	)	871,367		(932,336	)	(471,670	)	(4,204,394	)	351,355		(8,426	)	(25,923	)
Change in unrealized gain (loss) on investments		7,575,496		(17,624,735	)	1,013,356		(1,543,783	)	5,470,605		(6,955,844	)	469,935		(75,860	)
Reinvested capital gains		-		3,501,526		-		56,626		-		1,330,793		-		24,894
Net increase (decrease) in contract owners’ equity resulting from operations		5,785,916		(13,052,219	)	187,428		(1,824,304	)	1,321,431		(5,148,287	)	464,842		(75,192	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		1,295,101		1,603,349		126,300		281,860		329,073		591,618		84,849		44,198
Transfers between funds		122,614		(2,562,510	)	(237,147	)	(1,063,064	)	(1,575,185	)	(1,235,463	)	3,291,333		214,521
Surrenders (note 6)		(544,992	)	(869,785	)	(192,221	)	(245,241	)	(353,341	)	(422,321	)	(161,849	)	(44,286	)
Death benefits (note 4)		(3,736	)	(21,966	)	(26,184	)	(2,180	)	(337	)	(43,904	)	(2,468	)	-
Net policy repayments (loans) (note 5)		(87,448	)	(83,652	)	(62,636	)	(23,769	)	(101,201	)	(50,011	)	(37,112	)	-
Deductions for surrender charges (note 2d)		(49,407	)	(45,052	)	(4,338	)	(9,136	)	(4,438	)	(7,581	)	(8,466	)	-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(588,338	)	(713,914	)	(115,873	)	(140,191	)	(159,684	)	(217,650	)	(68,246	)	(2,037	)
Asset charges (note 3):
FPVUL & VEL contracts		(34,293	)	(48,926	)	(6,010	)	(9,331	)	(9,992	)	(16,478	)	(5,340	)	(146	)
MSP contracts		(3,601	)	(2,123	)	(398	)	(613	)	(309	)	(428	)	(288	)	(1	)
SL contracts or LSFP contracts		(8,157	)	(10,895	)	(370	)	(968	)	(1,770	)	(5,545	)	(502	)	(205	)
Adjustments to maintain reserves		(1,631	)	(471	)	167		(321	)	131		(233	)	(493	)	(17	)
Net equity transactions		96,113		(2,755,945	)	(518,710	)	(1,212,954	)	(1,877,053	)	(1,407,996	)	3,091,418		212,027
Net change in contract owners’ equity		5,882,029		(15,808,164	)	(331,282	)	(3,037,258	)	(555,622	)	(6,556,283	)	3,556,260		136,835
Contract owners’ equity beginning of period		9,077,351		24,885,515		3,120,697		6,157,955		6,023,795		12,580,078		136,835		-
Contract owners’ equity end of period	$	14,959,380		9,077,351		2,789,415		3,120,697		5,468,173		6,023,795		3,693,095		136,835
CHANGES IN UNITS:
Beginning units		811,502		938,196		189,353		250,190		656,884		738,650		24,803		-
Units purchased		110,151		120,082		17,300		20,578		62,657		113,143		533,829		25,218
Units redeemed		(103,624	)	(246,776	)	(49,686	)	(81,415	)	(258,890	)	(194,909	)	(42,392	)	(415	)
Ending units		818,029		811,502		156,967		189,353		460,651		656,884		516,240		24,803

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	NVIE6					GEF				GEF3			NVNMO1
	2009			2008		2009		2008		2009		2008	2009		2008
Investment activity:
Net investment income (loss)	$	498		566		36,162		38,350		64		-	10,318		-
Realized gain (loss) on investments		(24,066	)	(3,304	)	(329,610	)	410,146		63		-	104,269		(7,738	)
Change in unrealized gain (loss) on investments		83,896		(30,880	)	1,154,975		(4,484,104	)	424		-	1,500,363		(168	)
Reinvested capital gains		-		7,996		-		1,004,518		-		-	32,649		-
Net increase (decrease) in contract owners’ equity resulting from operations		60,328		(25,622	)	861,527		(3,031,090	)	551		-	1,647,599		(7,906	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		38,549		24		269,031		279,793		-		-	433,356		140
Transfers between funds		381,123		63,441		(125,089	)	(1,083,159	)	14,487		-	13,880,272		8,983
Surrenders (note 6)		(631	)	(80	)	(206,567	)	(222,560	)	-		-	(442,410	)	-
Death benefits (note 4)		-		-		(11,151	)	(27,808	)	-		-	(2,899	)	-
Net policy repayments (loans) (note 5)		(380	)	-		8,254		(33,823	)	-		-	(58,007	)	-
Deductions for surrender charges (note 2d)		(753	)	-		(4,117	)	(8,857	)	-		-	(6,069	)	-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(10,371	)	(639	)	(193,558	)	(239,569	)	(449	)	-	(314,834	)	(251	)
Asset charges (note 3):
FPVUL & VEL contracts		(420	)	(10	)	(11,278	)	(15,963	)	(16	)	-	(21,615	)	(23	)
MSP contracts		-		-		(338	)	(488	)	-		-	(574	)	-
SL contracts or LSFP contracts		(561	)	(94	)	(1,175	)	(1,874	)	-		-	(2,301	)	-
Adjustments to maintain reserves		11		(12	)	117		(286	)	5		-	(323	)	(10	)
Net equity transactions		406,568		62,630		(275,871	)	(1,354,594	)	14,027		-	13,464,597		8,839
Net change in contract owners’ equity		466,896		37,008		585,656		(4,385,684	)	14,578		-	15,112,196		933
Contract owners’ equity beginning of period		37,008		-		3,333,416		7,719,100		-		-	933		-
Contract owners’ equity end of period	$	503,904		37,008		3,919,072		3,333,416		14,578		-	15,113,129		933
CHANGES IN UNITS:
Beginning units		6,719		-		285,138		374,384		-		-	180		-
Units purchased		65,951		6,830		44,545		18,123		1,124		-	2,012,080		216
Units redeemed		(1,998	)	(111	)	(62,044	)	(107,369	)	(37	)	-	(105,726	)	(36	)
Ending units		70,672		6,719		267,639		285,138		1,087		-	1,906,534		180

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	NVNSR1					NVCRA1				NVCRB1				NVCCA1
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	300		108		3,137		8,583		14,685		4,809		18,627		5,387
Realized gain (loss) on investments		(9,127	)	(212	)	(89,222	)	(149,177	)	(15,424	)	(6,945	)	(14,153	)	(11,855	)
Change in unrealized gain (loss) on investments		31,839		(12,894	)	177,395		(104,586	)	138,862		(22,948	)	246,582		(126,362	)
Reinvested capital gains		-		-		79		6,286		-		2,502		-		4,934
Net increase (decrease) in contract owners’ equity resulting from operations		23,012		(12,998	)	91,389		(238,894	)	138,123		(22,582	)	251,056		(127,896	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		77,711		2,268		70,724		15,734		54,743		11,963		216,138		33,781
Transfers between funds		52,118		42,336		(58,588	)	525,197		206,940		553,058		639,089		629,911
Surrenders (note 6)		-		-		(5,318	)	-		(12,629	)	(5,957	)	(10,056	)	(5,398	)
Death benefits (note 4)		-		-		-		-		-		-		-		-
Net policy repayments (loans) (note 5)		(2,642	)	-		(1,351	)	(6,995	)	144		(7,500	)	(79	)	979
Deductions for surrender charges (note 2d)		-		-		-		-		(1,564	)	-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(2,766	)	(449	)	(21,276	)	(12,287	)	(35,947	)	(7,426	)	(51,183	)	(14,737	)
Asset charges (note 3):
FPVUL & VEL contracts		(60	)	(23	)	(1,232	)	(693	)	(2,166	)	(394	)	(2,877	)	(705	)
MSP contracts		-		-		(10	)	(4	)	(622	)	(136	)	(173	)	-
SL contracts or LSFP contracts		(182	)	(1	)	(236	)	(338	)	(546	)	(52	)	(526	)	(98	)
Adjustments to maintain reserves		15		(12	)	30		(31	)	29		(29	)	25		(22	)
Net equity transactions		124,194		44,119		(17,257	)	520,583		208,383		543,527		790,358		643,711
Net change in contract owners’ equity		147,206		31,121		74,132		281,689		346,506		520,945		1,041,414		515,815
Contract owners’ equity beginning of period		31,121		-		281,689		-		520,945		-		515,815		-
Contract owners’ equity end of period	$	178,327		31,121		355,821		281,689		867,451		520,945		1,557,229		515,815
CHANGES IN UNITS:
Beginning units		5,037		-		43,904		-		65,101		-		71,014		-
Units purchased		21,928		5,105		18,966		46,904		31,784		67,066		108,865		73,124
Units redeemed		(5,022	)	(68	)	(20,052	)	(3,000	)	(6,462	)	(1,965	)	(7,333	)	(2,110	)
Ending units		21,943		5,037		42,818		43,904		90,423		65,101		172,546		71,014

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	NVCCN1					NVCMD1				NVCMA1				NVCMC1
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	23,286		3,653		32,429		7,925		36,889		16,044		12,101		2,407
Realized gain (loss) on investments		11,717		(26,718	)	(17,203	)	(38,022	)	(228,372	)	(63,212	)	(454	)	(1,558	)
Change in unrealized gain (loss) on investments		102,299		(15,304	)	350,508		(84,562	)	786,425		(340,993	)	75,372		3,794
Reinvested capital gains		1,717		516		118		4,218		1,157		17,352		387		840
Net increase (decrease) in contract owners’ equity resulting from operations		139,019		(37,853	)	365,852		(110,441	)	596,099		(370,809	)	87,406		5,483
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		37,034		10,172		213,261		188,465		473,349		49,267		36,982		4,548
Transfers between funds		559,841		314,970		1,142,296		700,762		811,650		1,894,471		287,927		284,050
Surrenders (note 6)		(634	)	-		(45,459	)	(134,828	)	(70,716	)	-		(3,829	)	-
Death benefits (note 4)		-		-		-		-		-		-		-		-
Net policy repayments (loans) (note 5)		(54,901	)	23,093		770		100		(205,572	)	(2,370	)	3,018		(3,747	)
Deductions for surrender charges (note 2d)		-		-		(1,317	)	-		(2,110	)	-		(1,315	)	(4,593	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(53,581	)	(9,396	)	(55,287	)	(8,638	)	(113,766	)	(24,253	)	(37,482	)	(2,141	)
Asset charges (note 3):
FPVUL & VEL contracts		(3,277	)	(731	)	(4,140	)	(826	)	(7,889	)	(2,393	)	(1,072	)	(140	)
MSP contracts		(891	)	-		(414	)	(68	)	(2,175	)	(861	)	(1,279	)	(140	)
SL contracts or LSFP contracts		(43	)	-		(2,047	)	(52	)	(1,267	)	(144	)	(169	)	(8	)
Adjustments to maintain reserves		20		(21	)	34		(35	)	34		(33	)	30		(4	)
Net equity transactions		483,568		338,087		1,247,696		744,880		881,539		1,913,684		282,811		277,825
Net change in contract owners’ equity		622,587		300,234		1,613,548		634,439		1,477,638		1,542,875		370,217		283,308
Contract owners’ equity beginning of period		300,234		-		634,439		-		1,542,875		-		283,308		-
Contract owners’ equity end of period	$	922,821		300,234		2,247,987		634,439		3,020,513		1,542,875		653,525		283,308
CHANGES IN UNITS:
Beginning units		32,838		-		83,184		-		223,705		-		33,824		-
Units purchased		68,059		33,956		171,060		84,626		178,283		227,730		37,144		35,201
Units redeemed		(11,749	)	(1,118	)	(12,661	)	(1,442	)	(56,301	)	(4,025	)	(4,641	)	(1,377	)
Ending units		89,148		32,838		241,583		83,184		345,687		223,705		66,327		33,824

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	NVCBD1					NVLCP1				TRF				GVGF1
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	16,101		3,407		10,487		1,613		3,345,442		4,803,593		21,040		57,795
Realized gain (loss) on investments		24,773		(1,752	)	21,401		(234	)	(1,042,850	)	1,356,893		(1,389,231	)	(1,471,698	)
Change in unrealized gain (loss) on investments		3,669		2,744		9,164		4,089		61,992,768		(245,372,431	)	1,963,916		(463,964	)
Reinvested capital gains		3,009		-		4,977		-		-		59,388,629		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		47,552		4,399		46,029		5,468		64,295,360		(179,823,316	)	595,725		(1,877,867	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		88,571		1,178		126		230		3,727,417		4,070,480		92,356		142,360
Transfers between funds		377,679		208,321		99,386		130,414		523,446		(743,427	)	(137,563	)	(830,954	)
Surrenders (note 6)		(58,737	)	-		(27,433	)	-		(2,189,741	)	(2,688,496	)	(50,148	)	(117,660	)
Death benefits (note 4)		-		-		-		-		(420,554	)	(778,607	)	(20,078	)	(26,781	)
Net policy repayments (loans) (note 5)		(23,576	)	(570	)	11,084		-		(117,156	)	(345,571	)	(16,452	)	(2,571	)
Deductions for surrender charges (note 2d)		(1,858	)	-		(495	)	-		(48,979	)	(102,267	)	(2,234	)	(8,479	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(30,317	)	(2,552	)	(9,267	)	(1,297	)	(5,027,515	)	(4,997,680	)	(77,810	)	(113,837	)
Asset charges (note 3):
FPVUL & VEL contracts		(1,765	)	(148	)	(793	)	(70	)	(119,935	)	(165,533	)	(3,434	)	(4,681	)
MSP contracts		(92	)	-		-		-		(7,094	)	(11,079	)	-		-
SL contracts or LSFP contracts		(523	)	(11	)	(44	)	-		(10,207	)	(13,636	)	(775	)	(1,186	)
Adjustments to maintain reserves		16		(18	)	10		(12	)	(78	)	(4,482	)	83		(129	)
Net equity transactions		349,398		206,200		72,574		129,265		(3,690,396	)	(5,780,298	)	(216,055	)	(963,918	)
Net change in contract owners’ equity		396,950		210,599		118,603		134,733		60,604,964		(185,603,614	)	379,670		(2,841,785	)
Contract owners’ equity beginning of period		210,599		-		134,733		-		250,323,819		435,927,433		1,803,575		4,645,360
Contract owners’ equity end of period	$	607,549		210,599		253,336		134,733		310,928,783		250,323,819		2,183,245		1,803,575
CHANGES IN UNITS:
Beginning units		21,176		-		13,545		-		30,738,481		31,215,436		171,955		237,888
Units purchased		48,659		21,515		13,349		13,689		503,102		357,645		20,168		25,052
Units redeemed		(13,678	)	(339	)	(5,056	)	(144	)	(905,915	)	(834,600	)	(34,052	)	(90,985	)
Ending units		56,157		21,176		21,838		13,545		30,335,668		30,738,481		158,071		171,955

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	GBF					CAF				GVGH1				GVGHS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	3,978,157		4,891,347		67,503		41,011		4,802		4,641		6,852		7,181
Realized gain (loss) on investments		947,871		(390,883	)	258,366		126,935		(266,588	)	(30,467	)	(339,358	)	(133,555	)
Change in unrealized gain (loss) on investments		(3,501,589	)	4,017,269		3,518,953		(7,585,727	)	738,864		(1,118,755	)	735,726		(952,956	)
Reinvested capital gains		1,702,702		-		-		-		-		230,802		-		250,351
Net increase (decrease) in contract owners’ equity resulting from operations		3,127,141		8,517,733		3,844,822		(7,417,781	)	477,078		(913,779	)	403,220		(828,979	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		5,672,055		7,697,431		1,487,344		1,714,602		30,016		35,192		252,753		330,123
Transfers between funds		(9,936,785	)	24,527,320		631,555		(261,433	)	19,335		(1,029,342	)	(110,789	)	610,583
Surrenders (note 6)		(7,206,573	)	(8,332,389	)	(829,196	)	(902,395	)	(93,144	)	(72,454	)	(230,113	)	(289,350	)
Death benefits (note 4)		(278,522	)	(295,169	)	(44,790	)	(39,801	)	(2,710	)	(5,587	)	(29,050	)	-
Net policy repayments (loans) (note 5)		(1,340,648	)	(865,916	)	(53,927	)	(156,340	)	(34,844	)	(25,011	)	(101,611	)	111,163
Deductions for surrender charges (note 2d)		(102,837	)	(112,385	)	(6,668	)	(24,712	)	(2,027	)	(3,649	)	(7,864	)	(6,977	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(3,962,145	)	(3,220,456	)	(1,126,311	)	(1,111,786	)	(91,239	)	(74,760	)	(124,256	)	(111,452	)
Asset charges (note 3):
FPVUL & VEL contracts		(132,950	)	(126,343	)	(50,637	)	(62,541	)	(2,951	)	(4,036	)	(8,145	)	(8,538	)
MSP contracts		(10,008	)	(10,744	)	(1,462	)	(1,813	)	(150	)	(187	)	(99	)	(65	)
SL contracts or LSFP contracts		(44,660	)	(54,621	)	(4,184	)	(6,353	)	(666	)	(1,039	)	(1,401	)	(1,426	)
Adjustments to maintain reserves		600		19,268		57		(338	)	(321	)	(1,418	)	85		(193	)
Net equity transactions		(17,342,473	)	19,225,996		1,782		(852,910	)	(178,701	)	(1,182,291	)	(360,490	)	633,868
Net change in contract owners’ equity		(14,215,332	)	27,743,729		3,846,604		(8,270,691	)	298,377		(2,096,070	)	42,730		(195,111	)
Contract owners’ equity beginning of period		129,444,984		101,701,255		11,313,189		19,583,880		2,590,081		4,686,151		2,437,529		2,632,640
Contract owners’ equity end of period	$	115,229,652		129,444,984		15,159,793		11,313,189		2,888,458		2,590,081		2,480,259		2,437,529
CHANGES IN UNITS:
Beginning units		7,781,878		6,570,388		1,919,769		2,036,724		225,000		304,564		260,983		210,752
Units purchased		518,251		2,122,142		426,516		255,721		17,451		57,269		30,079		80,217
Units redeemed		(1,465,237	)	(910,652	)	(375,084	)	(372,676	)	(31,517	)	(136,833	)	(68,114	)	(29,986	)
Ending units		6,834,892		7,781,878		1,971,201		1,919,769		210,934		225,000		222,948		260,983

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	GVIX2					GVIX6				GVIDA				NVDBL2
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	28,220		18,928		11,544		13,096		236,550		599,619		135		-
Realized gain (loss) on investments		(315,049	)	(203,996	)	(260,909	)	(34,287	)	(2,064,061	)	(697,871	)	19		-
Change in unrealized gain (loss) on investments		632,696		(339,766	)	311,663		(362,215	)	6,579,751		(18,129,999	)	113		-
Reinvested capital gains		-		1,405		-		1,033		1,352,345		5,187,862		155		-
Net increase (decrease) in contract owners’ equity resulting from operations		345,867		(523,429	)	62,298		(382,373	)	6,104,585		(13,040,389	)	422		-
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		646,085		103,003		54,056		94,436		3,421,525		4,061,628		15,052		-
Transfers between funds		2,062,529		(55,449	)	53,829		211,758		(813,824	)	(935,195	)	6,878		-
Surrenders (note 6)		(15,763	)	(1,061,320	)	(47,359	)	(11,568	)	(1,229,667	)	(1,269,009	)	-		-
Death benefits (note 4)		(384	)	-		-		-		(30,110	)	(14,150	)	-		-
Net policy repayments (loans) (note 5)		-		-		(7,093	)	(17,200	)	(171,112	)	(252,946	)	-		-
Deductions for surrender charges (note 2d)		-		-		(222	)	(53	)	(130,322	)	(190,612	)	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(20,798	)	(29,625	)	(30,805	)	(42,428	)	(1,376,485	)	(1,503,074	)	(403	)	-
Asset charges (note 3):
FPVUL & VEL contracts		(259	)	-		(1,127	)	(1,453	)	(63,464	)	(79,423	)	(31	)	-
MSP contracts		-		-		(123	)	(389	)	(6,332	)	(6,184	)	-		-
SL contracts or LSFP contracts		-		-		(586	)	(724	)	(5,513	)	(5,776	)	-		-
Adjustments to maintain reserves		12		(75	)	59		(152	)	410		(818	)	1		-
Net equity transactions		2,671,422		(1,043,466	)	20,629		232,227		(404,895	)	(195,559	)	21,497		-
Net change in contract owners’ equity		3,017,289		(1,566,895	)	82,927		(150,146	)	5,699,690		(13,235,948	)	21,919		-
Contract owners’ equity beginning of period		655,696		2,222,591		491,213		641,359		21,851,772		35,087,720		-		-
Contract owners’ equity end of period	$	3,672,985		655,696		574,140		491,213		27,551,462		21,851,772		21,919		-
CHANGES IN UNITS:
Beginning units		114,389		219,734		71,845		53,368		2,076,728		2,105,240		-		-
Units purchased		405,170		29,148		8,895		34,188		364,953		406,529		1,921		-
Units redeemed		(21,010	)	(134,493	)	(15,450	)	(15,711	)	(382,564	)	(435,041	)	(38	)	-
Ending units		498,549		114,389		65,290		71,845		2,059,117		2,076,728		1,883		-

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	NVDCA2				GVIDC				GVIDM				GVDMA
	2009			2008	2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	814		-	286,883		668,295		1,014,977		1,853,394		805,174		1,899,537
Realized gain (loss) on investments		(97	)	-	(1,906,856	)	(179,388	)	(2,373,635	)	98,527		(2,858,759	)	(605,320	)
Change in unrealized gain (loss) on investments		2,401		-	2,658,897		(2,270,607	)	12,852,063		(24,869,374	)	13,647,980		(37,181,566	)
Reinvested capital gains		650		-	94,127		451,853		1,648,516		5,784,847		2,700,488		8,097,876
Net increase (decrease) in contract owners’ equity resulting from operations		3,768		-	1,133,051		(1,329,847	)	13,141,921		(17,132,606	)	14,294,883		(27,789,473	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		6,132		-	1,200,182		845,699		7,127,276		7,885,090		9,615,571		11,441,272
Transfers between funds		116,102		-	(11,116,062	)	12,150,512		12,787,935		2,033,029		(1,802,843	)	166,766
Surrenders (note 6)		-		-	(604,928	)	(317,058	)	(4,408,689	)	(4,171,435	)	(4,307,477	)	(2,748,548	)
Death benefits (note 4)		-		-	(89,265	)	(10,704	)	(689,935	)	(176,294	)	(58,020	)	(18,757	)
Net policy repayments (loans) (note 5)		-		-	(15,355	)	(50,732	)	(179,572	)	(767,488	)	(743,018	)	(800,048	)
Deductions for surrender charges (note 2d)		-		-	(17,463	)	(18,675	)	(18,289	)	(388,688	)	(382,509	)	(322,644	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(1,073	)	-	(745,672	)	(642,562	)	(3,752,452	)	(3,420,054	)	(3,967,017	)	(4,201,771	)
Asset charges (note 3):
FPVUL & VEL contracts		(136	)	-	(27,669	)	(23,066	)	(177,399	)	(176,935	)	(217,788	)	(262,265	)
MSP contracts		-		-	(6,503	)	(7,647	)	(32,958	)	(36,103	)	(17,170	)	(19,906	)
SL contracts or LSFP contracts		-		-	(5,269	)	(5,054	)	(28,834	)	(25,901	)	(29,869	)	(36,153	)
Adjustments to maintain reserves		(2	)	-	226		(639	)	194		(561	)	2,841		(441	)
Net equity transactions		121,023		-	(11,427,777	)	11,920,074		10,627,277		754,660		(1,907,299	)	3,197,505
Net change in contract owners’ equity		124,791		-	(10,294,726	)	10,590,227		23,769,198		(16,377,946	)	12,387,584		(24,591,968	)
Contract owners’ equity beginning of period		-		-	25,234,721		14,644,494		56,973,628		73,351,574		60,599,022		85,190,990
Contract owners’ equity end of period	$	124,791		-	14,939,995		25,234,721		80,742,826		56,973,628		72,986,606		60,599,022
CHANGES IN UNITS:
Beginning units		-		-	2,076,535		1,124,346		4,997,828		4,941,260		5,511,580		5,315,958
Units purchased		10,328		-	253,841		1,089,358		1,791,447		1,134,396		889,744		1,145,968
Units redeemed		(103	)	-	(1,213,716	)	(137,169	)	(840,060	)	(1,077,828	)	(1,063,008	)	(950,346	)
Ending units		10,225		-	1,116,660		2,076,535		5,949,215		4,997,828		5,338,316		5,511,580

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	GVDMC					GVUS1				MCIF				SAM
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	295,619		792,538		7,607		12,832		362,816		694,248		35,553		2,574,603
Realized gain (loss) on investments		(1,269,197	)	(1,143,453	)	(754,822	)	(249,100	)	(5,522,677	)	143,798		-		-
Change in unrealized gain (loss) on investments		3,097,306		(4,816,383	)	1,037,888		(895,663	)	17,238,205		(29,419,372	)	-		-
Reinvested capital gains		274,021		959,038		-		-		1,328,431		3,794,309		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		2,397,749		(4,208,260	)	290,673		(1,131,931	)	13,406,775		(24,787,017	)	35,553		2,574,603
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		1,548,291		4,900,897		40,422		57,554		3,385,036		4,733,840		13,320,686		29,939,833
Transfers between funds		(472,912	)	(17,121,796	)	(180,682	)	(221,220	)	(3,024,145	)	(6,359,556	)	15,786,585		19,728,779
Surrenders (note 6)		(1,164,612	)	(603,425	)	(54,298	)	(147,365	)	(3,404,487	)	(6,808,352	)	(41,246,434	)	(28,701,969	)
Death benefits (note 4)		(73,371	)	(13,524	)	(72	)	(165	)	(91,735	)	(101,899	)	(684,404	)	(783,164	)
Net policy repayments (loans) (note 5)		(38,536	)	(215,508	)	1,563		12,696		1,362,415		(276,542	)	(37,415	)	(2,357,126	)
Deductions for surrender charges (note 2d)		(24,310	)	(25,774	)	(5,830	)	(3,198	)	(49,758	)	(90,842	)	(983,194	)	(707,143	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(864,754	)	(1,049,986	)	(35,932	)	(43,175	)	(1,592,471	)	(1,757,256	)	(8,035,920	)	(7,543,989	)
Asset charges (note 3):
FPVUL & VEL contracts		(39,664	)	(43,260	)	(1,853	)	(3,105	)	(74,465	)	(96,141	)	(399,187	)	(399,813	)
MSP contracts		(16,950	)	(17,084	)	-		-		(1,784	)	(1,958	)	(28,447	)	(31,654	)
SL contracts or LSFP contracts		(9,733	)	(9,954	)	(422	)	(779	)	(13,234	)	(20,299	)	(90,812	)	(105,490	)
Adjustments to maintain reserves		178		(959	)	39		(167	)	2,492		2,900		2,324		(887	)
Net equity transactions		(1,156,373	)	(14,200,373	)	(237,064	)	(348,924	)	(3,502,136	)	(10,776,105	)	(22,396,218	)	9,037,377
Net change in contract owners’ equity		1,241,376		(18,408,633	)	53,609		(1,480,855	)	9,904,639		(35,563,122	)	(22,360,665	)	11,611,980
Contract owners’ equity beginning of period		17,156,045		35,564,678		990,303		2,471,158		40,584,184		76,147,306		133,848,991		122,237,011
Contract owners’ equity end of period	$	18,397,421		17,156,045		1,043,912		990,303		50,488,823		40,584,184		111,488,326		133,848,991
CHANGES IN UNITS:
Beginning units		1,437,268		2,554,760		110,239		137,750		2,837,215		3,397,782		9,487,421		8,863,336
Units purchased		225,095		620,805		5,672		17,190		349,791		483,944		2,036,219		4,725,029
Units redeemed		(315,678	)	(1,738,297	)	(28,967	)	(44,701	)	(559,827	)	(1,044,511	)	(3,622,618	)	(4,100,944	)
Ending units		1,346,685		1,437,268		86,944		110,239		2,627,179		2,837,215		7,901,022		9,487,421

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	SAM5					NVMIG3				GVDIVI				GVDIV3
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(543,038	)	6,819,754		54,487		7		20,448		28,833		107,135		128,039
Realized gain (loss) on investments		-		-		69,102		(3,454	)	(168,939	)	(76,550	)	(1,214,689	)	(157,651	)
Change in unrealized gain (loss) on investments		-		-		2,136,753		(2,935	)	402,617		(1,132,458	)	2,465,427		(5,223,038	)
Reinvested capital gains		-		-		-		-		-		240,731		-		1,087,474
Net increase (decrease) in contract owners’ equity resulting from operations		(543,038	)	6,819,754		2,260,342		(6,382	)	254,126		(939,444	)	1,357,873		(4,165,176	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		60,789,909		77,654,445		507,330		10,640		75		216		548,080		780,491
Transfers between funds		(10,495,762	)	(14,992,644	)	16,234,491		3,578		(38,052	)	(111,859	)	(440,786	)	(399,069	)
Surrenders (note 6)		(110,603,433	)	(25,597,209	)	(509,590	)	-		(41,249	)	(89,054	)	(392,314	)	(461,394	)
Death benefits (note 4)		(982,442	)	(351,728	)	(3,733	)	-		(698	)	-		(37,159	)	-
Net policy repayments (loans) (note 5)		(5,626,865	)	(11,219,758	)	(86,166	)	(209	)	(29,156	)	(18,779	)	(30,929	)	(66,631	)
Deductions for surrender charges (note 2d)		-		-		(6,962	)	-		(4,206	)	(6,815	)	(19,706	)	(22,189	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(6,939,336	)	(5,616,989	)	(399,291	)	(780	)	(45,322	)	(65,626	)	(284,564	)	(329,351	)
Asset charges (note 3):
FPVUL & VEL contracts		(10,198	)	-		(26,192	)	(12	)	(3,187	)	(5,356	)	(18,574	)	(24,696	)
MSP contracts		-		-		(833	)	(4	)	(134	)	(221	)	(186	)	(308	)
SL contracts or LSFP contracts		-		-		(3,533	)	(14	)	(508	)	(993	)	(2,985	)	(4,175	)
Adjustments to maintain reserves		714		(12,128	)	19		(20	)	87		(221	)	(317	)	(228	)
Net equity transactions		(73,867,413	)	19,863,989		15,705,541		13,179		(162,350	)	(298,708	)	(679,441	)	(527,550	)
Net change in contract owners’ equity		(74,410,451	)	26,683,743		17,965,883		6,797		91,776		(1,238,152	)	678,432		(4,692,726	)
Contract owners’ equity beginning of period		372,633,606		345,949,863		6,797		-		987,477		2,225,629		4,933,753		9,626,479
Contract owners’ equity end of period	$	298,223,155		372,633,606		17,972,680		6,797		1,079,253		987,477		5,612,185		4,933,753
CHANGES IN UNITS:
Beginning units		32,217,849		30,492,136		1,107		-		77,496		93,770		635,373		665,320
Units purchased		9,639,717		10,305,999		2,274,283		2,222		7		-		70,443		91,296
Units redeemed		(16,074,999	)	(8,580,286	)	(130,450	)	(1,115	)	(12,278	)	(16,274	)	(149,171	)	(121,243	)
Ending units		25,782,567		32,217,849		2,144,940		1,107		65,225		77,496		556,645		635,373

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	NVMLG1					NVMLV1				NVMMG1				NVMMV1
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	7,951		51		20,167		1,065		(491	)	(58	)	(3	)	11
Realized gain (loss) on investments		31,265		(2,528	)	(6,313	)	(2,654	)	302,640		(32,124	)	(1,298	)	-
Change in unrealized gain (loss) on investments		260,488		(7,223	)	348,841		(9,985	)	4,194,989		(1,417	)	(81	)	81
Reinvested capital gains		-		-		-		-		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		299,704		(9,700	)	362,695		(11,574	)	4,497,138		(33,599	)	(1,382	)	92
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		130,936		19,876		146,552		12,274		1,305,582		63,943		8,306		1,219
Transfers between funds		2,042,576		6,749		3,293,501		241,887		28,236,353		711		(9,194	)	1,115
Surrenders (note 6)		(47,225	)	-		(235,851	)	-		(1,192,048	)	(27,035	)	-		-
Death benefits (note 4)		-		-		(10,425	)	-		(9,723	)	-		-		-
Net policy repayments (loans) (note 5)		(11,125	)	(709	)	31,830		(484	)	(60,331	)	-		-		-
Deductions for surrender charges (note 2d)		(3,342	)	-		(23,322	)	-		(54,604	)	-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(61,197	)	(790	)	(86,407	)	(1,816	)	(869,041	)	(982	)	(156	)	-
Asset charges (note 3):
FPVUL & VEL contracts		(3,488	)	(31	)	(5,902	)	(43	)	(52,065	)	(20	)	-		-
MSP contracts		(91	)	-		(105	)	-		(1,028	)	-		-		-
SL contracts or LSFP contracts		(513	)	(8	)	(663	)	(82	)	(7,128	)	(8	)	-		-
Adjustments to maintain reserves		5		(4	)	15		(17	)	(1,175	)	(8	)	5		(5	)
Net equity transactions		2,046,536		25,083		3,109,223		251,719		27,294,792		36,601		(1,039	)	2,329
Net change in contract owners’ equity		2,346,240		15,383		3,471,918		240,145		31,791,930		3,002		(2,421	)	2,421
Contract owners’ equity beginning of period		15,383		-		240,145		-		3,002		-		2,421		-
Contract owners’ equity end of period	$	2,361,623		15,383		3,712,063		240,145		31,794,932		3,002		-		2,421
CHANGES IN UNITS:
Beginning units		2,417		-		37,776		-		478		-		358		-
Units purchased		300,423		4,652		472,587		39,465		4,320,422		1,035		1,366		359
Units redeemed		(16,921	)	(2,235	)	(52,714	)	(1,689	)	(337,838	)	(557	)	(1,724	)	(1	)
Ending units		285,919		2,417		457,649		37,776		3,983,062		478		-		358

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	NVMMV2					SCGF				SCVF				SCF
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	51,381		49		(7,445	)	(13,425	)	161,893		488,505		81,840		554,177
Realized gain (loss) on investments		79,482		(856	)	(1,258,724	)	(1,140,207	)	(4,761,068	)	(6,624,860	)	(13,079,026	)	(5,426,956	)
Change in unrealized gain (loss) on investments		1,177,622		(160	)	3,866,242		(9,003,247	)	12,393,594		(10,935,610	)	30,488,109		(45,734,209	)
Reinvested capital gains		-		-		-		-		-		-		-		15,926,545
Net increase (decrease) in contract owners’ equity resulting from operations		1,308,485		(967	)	2,600,073		(10,156,879	)	7,794,419		(17,071,965	)	17,490,923		(34,680,443	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		289,239		3,440		1,212,314		1,553,738		2,584,925		3,305,026		3,863,358		5,521,541
Transfers between funds		10,449,995		3,967		(1,054,901	)	(2,396,104	)	(2,566,414	)	(12,110,612	)	(4,407,046	)	(5,569,853	)
Surrenders (note 6)		(187,446	)	(743	)	(927,758	)	(658,214	)	(2,633,904	)	(2,993,883	)	(2,465,530	)	(4,451,955	)
Death benefits (note 4)		(4,506	)	-		(16,523	)	(30,157	)	(31,905	)	(164,811	)	(107,042	)	(163,695	)
Net policy repayments (loans) (note 5)		(117,765	)	-		44,836		(170,596	)	(52,053	)	(304,393	)	(410,010	)	(686,477	)
Deductions for surrender charges (note 2d)		(4,479	)	-		(26,320	)	(46,082	)	(73,495	)	(106,801	)	(64,032	)	(92,000	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(224,981	)	(168	)	(545,165	)	(634,278	)	(1,610,014	)	(1,847,814	)	(2,147,096	)	(2,417,473	)
Asset charges (note 3):
FPVUL & VEL contracts		(15,697	)	(6	)	(27,664	)	(36,367	)	(88,063	)	(117,889	)	(95,110	)	(124,091	)
MSP contracts		(375	)	-		(632	)	(859	)	(2,405	)	(3,811	)	(2,713	)	(3,723	)
SL contracts or LSFP contracts		(2,583	)	(3	)	(2,601	)	(3,848	)	(9,818	)	(14,864	)	(14,206	)	(20,380	)
Adjustments to maintain reserves		9		(12	)	146		(86	)	242		1,021		612		7,177
Net equity transactions		10,181,410		6,475		(1,344,268	)	(2,422,853	)	(4,482,905	)	(14,358,831	)	(5,848,815	)	(8,000,929	)
Net change in contract owners’ equity		11,489,895		5,508		1,255,805		(12,579,732	)	3,311,514		(31,430,796	)	11,642,108		(42,681,372	)
Contract owners’ equity beginning of period		5,508		-		10,429,682		23,009,414		33,147,882		64,578,678		55,620,392		98,301,764
Contract owners’ equity end of period	$	11,495,403		5,508		11,685,487		10,429,682		36,459,396		33,147,882		67,262,500		55,620,392
CHANGES IN UNITS:
Beginning units		815		-		1,029,066		1,216,658		1,967,130		2,607,354		4,212,566		4,590,160
Units purchased		1,372,216		1,159		120,387		131,847		157,655		169,366		327,867		617,632
Units redeemed		(69,254	)	(344	)	(245,665	)	(319,439	)	(419,329	)	(809,590	)	(705,020	)	(995,226	)
Ending units		1,303,777		815		903,788		1,029,066		1,705,456		1,967,130		3,835,413		4,212,566

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	MSBF					NVSTB1			NVSTB2				GGTC
	2009			2008		2009		2008	2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	1,203,420		1,056,589		11,059		-	38,007		10,320		(5,207	)	(8,064	)
Realized gain (loss) on investments		(1,276,189	)	(1,455,039	)	17,656		-	30,565		1,106		(949,836	)	(141,574	)
Change in unrealized gain (loss) on investments		2,935,874		(3,180,202	)	7,478		-	(13,643	)	(996	)	2,357,643		(3,735,503	)
Reinvested capital gains		-		358,044		2,224		-	10,128		-		-		730,340
Net increase (decrease) in contract owners’ equity resulting from operations		2,863,105		(3,220,608	)	38,417		-	65,057		10,430		1,402,600		(3,154,801	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		693,574		1,625,205		7,932		-	54,528		1,296		59,465		131,001
Transfers between funds		186,213		(8,948,419	)	571,571		-	2,954,483		1,073,433		208,568		(748,104	)
Surrenders (note 6)		(853,573	)	(2,198,324	)	-		-	(1,122,812	)	(114,817	)	(88,980	)	(95,819	)
Death benefits (note 4)		(15,100	)	(15,711	)	-		-	-		-		(4,694	)	(16,970	)
Net policy repayments (loans) (note 5)		(68,065	)	22,327		(31,205	)	-	38,512		-		(1,179	)	(33,638	)
Deductions for surrender charges (note 2d)		(18,095	)	(43,255	)	-		-	(5,629	)	(1,963	)	(1,955	)	(8,081	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(588,350	)	(615,128	)	(23,790	)	-	(63,004	)	(7,470	)	(88,089	)	(113,020	)
Asset charges (note 3):
FPVUL & VEL contracts		(31,020	)	(32,283	)	-		-	(5,236	)	(383	)	(2,807	)	(4,485	)
MSP contracts		(1,551	)	(1,774	)	-		-	(250	)	-		(34	)	(44	)
SL contracts or LSFP contracts		(6,792	)	(6,937	)	-		-	(1,075	)	(107	)	(151	)	(450	)
Adjustments to maintain reserves		229		(633	)	(1	)	-	189		3,267		43		403
Net equity transactions		(702,529	)	(10,214,932	)	524,507		-	1,849,706		953,256		80,187		(889,207	)
Net change in contract owners’ equity		2,160,576		(13,435,540	)	562,924		-	1,914,763		963,686		1,482,787		(4,044,008	)
Contract owners’ equity beginning of period		11,091,993		24,527,533		-		-	963,686		-		2,825,144		6,869,152
Contract owners’ equity end of period	$	13,252,569		11,091,993		562,924		-	2,878,449		963,686		4,307,931		2,825,144
CHANGES IN UNITS:
Beginning units		829,979		1,551,246		-		-	96,918		-		1,311,533		1,638,454
Units purchased		122,530		132,794		58,017		-	291,724		108,708		104,270		258,620
Units redeemed		(158,969	)	(854,061	)	(5,255	)	-	(118,370	)	(11,790	)	(100,642	)	(585,541	)
Ending units		793,540		829,979		52,762		-	270,272		96,918		1,315,161		1,311,533

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	GGTC3					GVUG1				NVOLG1			NVTIV3
	2009			2008		2009		2008		2009		2008	2009		2008
Investment activity:
Net investment income (loss)	$	-		-		(919	)	(4,341	)	457		-	368		-
Realized gain (loss) on investments		(638,693	)	(249,205	)	(1,653,326	)	(318,794	)	1,424		-	4,120		-
Change in unrealized gain (loss) on investments		1,482,600		(1,724,987	)	2,371,469		(3,986,197	)	10,079		-	(436	)	-
Reinvested capital gains		-		343,893		-		1,191,538		7,009		-	195		-
Net increase (decrease) in contract owners’ equity resulting from operations		843,907		(1,630,299	)	717,224		(3,117,794	)	18,969		-	4,247		-
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		293,443		381,098		210,814		377,441		1,701		-	1,738		-
Transfers between funds		231,817		(1,027,268	)	(1,134,855	)	(1,455,147	)	405,120		-	110,336		-
Surrenders (note 6)		(171,080	)	(183,023	)	(815,352	)	(276,736	)	-		-	(1	)	-
Death benefits (note 4)		(2,608	)	(3,895	)	(19,119	)	(4,272	)	-		-	-		-
Net policy repayments (loans) (note 5)		32,383		6,564		29,135		(26,965	)	-		-	(4,268	)	-
Deductions for surrender charges (note 2d)		(14,538	)	(11,101	)	(20,151	)	(8,842	)	-		-	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(126,032	)	(122,865	)	(154,679	)	(201,354	)	(2,296	)	-	(1,621	)	-
Asset charges (note 3):
FPVUL & VEL contracts		(6,948	)	(7,878	)	(8,422	)	(11,618	)	(82	)	-	(127	)	-
MSP contracts		(220	)	(266	)	(363	)	(488	)	-		-	-		-
SL contracts or LSFP contracts		(1,256	)	(1,680	)	(841	)	(1,500	)	(119	)	-	-		-
Adjustments to maintain reserves		91		(244	)	127		(495	)	4		-	6		-
Net equity transactions		235,053		(970,558	)	(1,913,706	)	(1,609,976	)	404,328		-	106,063		-
Net change in contract owners’ equity		1,078,960		(2,600,857	)	(1,196,482	)	(4,727,770	)	423,297		-	110,310		-
Contract owners’ equity beginning of period		1,502,853		4,103,710		3,909,070		8,636,840		-		-	-		-
Contract owners’ equity end of period	$	2,581,813		1,502,853		2,712,588		3,909,070		423,297		-	110,310		-
CHANGES IN UNITS:
Beginning units		177,753		249,550		347,750		450,804		-		-	-		-
Units purchased		58,779		35,785		19,096		26,945		32,613		-	8,948		-
Units redeemed		(36,217	)	(107,582	)	(175,549	)	(129,999	)	(201	)	-	(485	)	-
Ending units		200,315		177,753		191,297		347,750		32,412		-	8,463		-

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	EIF					NVRE1				AMTB				AVBVI
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	87,614		229,855		179,377		2,895		290,441		226,384		7,646		47,343
Realized gain (loss) on investments		(906,434	)	(189,392	)	137,380		(7,493	)	(300,148	)	(202,300	)	(3,531,453	)	(307,233	)
Change in unrealized gain (loss) on investments		2,824,759		(5,113,403	)	3,191,020		(38,458	)	492,764		(861,945	)	4,600,082		(4,575,481	)
Reinvested capital gains		-		166,922		71,568		-		-		-		-		1,102,495
Net increase (decrease) in contract owners’ equity resulting from operations		2,005,939		(4,906,018	)	3,579,345		(43,056	)	483,057		(837,861	)	1,076,275		(3,732,876	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		672,491		995,272		826,975		8,943		309,832		425,247		261,637		678,683
Transfers between funds		(688,791	)	(1,095,713	)	19,807,032		149,247		538,842		(2,716,615	)	(3,528,959	)	(904,300	)
Surrenders (note 6)		(480,476	)	(343,352	)	(587,474	)	-		(757,328	)	(994,617	)	(286,219	)	(213,281	)
Death benefits (note 4)		(7,146	)	(48,102	)	(375	)	-		(3,196	)	(946	)	(3,881	)	(1,384	)
Net policy repayments (loans) (note 5)		(104,177	)	(85,839	)	(174,499	)	(16	)	19,344		(58,672	)	(130,587	)	(12,791	)
Deductions for surrender charges (note 2d)		(24,760	)	(35,973	)	(20,423	)	-		(18,581	)	(20,517	)	(12,997	)	(31,670	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(471,664	)	(549,379	)	(480,637	)	(2,038	)	(248,978	)	(245,227	)	(150,764	)	(285,368	)
Asset charges (note 3):
FPVUL & VEL contracts		(28,174	)	(38,735	)	(30,510	)	(119	)	(15,168	)	(19,149	)	(7,543	)	(17,045	)
MSP contracts		(865	)	(1,487	)	(1,021	)	(23	)	(625	)	(1,153	)	(131	)	(345	)
SL contracts or LSFP contracts		(4,589	)	(6,031	)	(4,250	)	(54	)	(2,031	)	(2,542	)	(730	)	(2,028	)
Adjustments to maintain reserves		135		(284	)	41		(21	)	(75	)	(191	)	385		531
Net equity transactions		(1,138,017	)	(1,209,623	)	19,334,859		155,919		(177,964	)	(3,634,382	)	(3,859,789	)	(788,998	)
Net change in contract owners’ equity		867,922		(6,115,641	)	22,914,204		112,863		305,093		(4,472,243	)	(2,783,514	)	(4,521,874	)
Contract owners’ equity beginning of period		8,024,894		14,140,535		112,863		-		4,072,316		8,544,559		3,539,890		8,061,764
Contract owners’ equity end of period	$	8,892,816		8,024,894		23,027,067		112,863		4,377,409		4,072,316		756,376		3,539,890
CHANGES IN UNITS:
Beginning units		886,702		983,392		19,987		-		417,277		757,962		414,366		455,382
Units purchased		73,045		114,968		3,283,529		20,331		105,650		44,660		43,794		61,865
Units redeemed		(199,938	)	(211,658	)	(194,121	)	(344	)	(127,133	)	(385,345	)	(397,659	)	(102,881	)
Ending units		759,809		886,702		3,109,395		19,987		395,794		417,277		60,501		414,366

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	AVCA					AVCDI				AVIE				ALVGIA
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	4,684		-		(12,329	)	(19,941	)	377,449		88,527		390,671		272,842
Realized gain (loss) on investments		(74,322	)	(24,952	)	(3,608,941	)	(938,058	)	(3,733,536	)	818,863		(2,433,244	)	(941,878	)
Change in unrealized gain (loss) on investments		213,629		(635,043	)	6,335,247		(6,874,273	)	11,299,759		(16,773,325	)	3,892,452		(9,189,587	)
Reinvested capital gains		-		-		-		1,332,482		-		411,886		-		2,544,323
Net increase (decrease) in contract owners’ equity resulting from operations		143,991		(659,995	)	2,713,977		(6,499,790	)	7,943,672		(15,454,049	)	1,849,879		(7,314,300	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		143,524		193,096		523,418		754,828		1,911,585		2,504,764		494,754		993,170
Transfers between funds		14,288		(389,819	)	(551,590	)	(2,885,546	)	1,882,564		2,442,403		(1,630,709	)	(980,081	)
Surrenders (note 6)		(34,964	)	(55,110	)	(126,744	)	(228,022	)	(1,077,166	)	(1,640,799	)	(461,687	)	(3,492,018	)
Death benefits (note 4)		-		-		(11,878	)	(11,234	)	(50,998	)	(15,227	)	(70,052	)	(42,645	)
Net policy repayments (loans) (note 5)		9,181		(5,773	)	(37,566	)	(27,582	)	495,580		(674,107	)	757,452		(190,144	)
Deductions for surrender charges (note 2d)		(3,151	)	(11,388	)	(10,104	)	(13,506	)	-		-		(4,936	)	(10,141	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(64,911	)	(78,422	)	(240,838	)	(310,462	)	(520,217	)	(527,462	)	(249,295	)	(273,538	)
Asset charges (note 3):
FPVUL & VEL contracts		(3,463	)	(4,498	)	(8,603	)	(11,480	)	(635	)	-		(8,959	)	(11,522	)
MSP contracts		(130	)	(182	)	(236	)	(323	)	-		-		(66	)	(85	)
SL contracts or LSFP contracts		(251	)	(1,818	)	(910	)	(1,096	)	-		-		(1,023	)	(1,611	)
Adjustments to maintain reserves		69		(199	)	92		(2,240	)	(243	)	(3,999	)	129		(954	)
Net equity transactions		60,192		(354,113	)	(464,960	)	(2,736,663	)	2,640,470		2,085,573		(1,174,392	)	(4,009,569	)
Net change in contract owners’ equity		204,183		(1,014,108	)	2,249,017		(9,236,453	)	10,584,142		(13,368,476	)	675,487		(11,323,869	)
Contract owners’ equity beginning of period		721,582		1,735,690		6,553,657		15,790,110		22,521,877		35,890,353		10,026,675		21,350,544
Contract owners’ equity end of period	$	925,765		721,582		8,802,674		6,553,657		33,106,019		22,521,877		10,702,162		10,026,675
CHANGES IN UNITS:
Beginning units		73,269		101,352		575,421		733,388		1,844,850		1,750,012		891,856		1,127,146
Units purchased		15,211		16,781		45,237		116,206		372,280		716,633		110,336		124,500
Units redeemed		(10,843	)	(44,864	)	(77,233	)	(274,173	)	(209,521	)	(621,795	)	(213,418	)	(359,790	)
Ending units		77,637		73,269		543,425		575,421		2,007,609		1,844,850		788,774		891,856

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	ALVIVA					ALVSVA				ACVIG				ACVIP2
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	309,247		281,424		56,853		32,086		676,849		413,752		408,663		666,076
Realized gain (loss) on investments		(14,852,340	)	(6,091,926	)	(1,362,274	)	(233,100	)	(916,664	)	322,741		(17,598	)	35,056
Change in unrealized gain (loss) on investments		23,712,549		(21,079,201	)	3,299,033		(2,153,893	)	2,634,136		(11,498,018	)	1,696,211		(1,411,755	)
Reinvested capital gains		-		2,037,831		242,912		495,807		-		2,527,186		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		9,169,456		(24,851,872	)	2,236,524		(1,859,100	)	2,394,321		(8,234,339	)	2,087,276		(710,623	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		1,580,472		2,954,187		802,782		660,079		1,153,511		1,416,534		1,797,228		1,932,422
Transfers between funds		(4,169,695	)	16,470,977		840,526		414,837		(786,783	)	(1,104,166	)	8,694,431		10,918,151
Surrenders (note 6)		(517,122	)	(415,232	)	(218,390	)	(378,852	)	(1,010,586	)	(1,530,492	)	(1,193,898	)	(438,886	)
Death benefits (note 4)		(56,372	)	(23,915	)	(4,386	)	(2,356	)	(16,535	)	(190,033	)	(4,883	)	(388	)
Net policy repayments (loans) (note 5)		(14,340	)	(16,455	)	(9,557	)	14,542		(23,681	)	(43,973	)	(330,435	)	(202,460	)
Deductions for surrender charges (note 2d)		-		-		(15,875	)	(10,346	)	(33,102	)	(66,767	)	(21,774	)	(26,158	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(573,202	)	(546,479	)	(210,880	)	(166,604	)	(878,340	)	(968,369	)	(541,350	)	(413,495	)
Asset charges (note 3):
FPVUL & VEL contracts		(1,637	)	-		(11,734	)	(11,978	)	(45,062	)	(59,962	)	(27,490	)	(25,806	)
MSP contracts		-		-		(236	)	(273	)	(1,625	)	(2,178	)	(767	)	(966	)
SL contracts or LSFP contracts		-		-		(1,522	)	(1,991	)	(6,495	)	(11,070	)	(43,327	)	(23,222	)
Adjustments to maintain reserves		94		(1,802	)	121		(402	)	143		(502	)	(5,571	)	338
Net equity transactions		(3,751,802	)	18,421,281		1,170,849		516,656		(1,648,555	)	(2,560,978	)	8,322,164		11,719,530
Net change in contract owners’ equity		5,417,654		(6,430,591	)	3,407,373		(1,342,444	)	745,766		(10,795,317	)	10,409,440		11,008,907
Contract owners’ equity beginning of period		26,132,105		32,562,696		4,311,520		5,653,964		14,932,610		25,727,927		17,866,676		6,857,769
Contract owners’ equity end of period	$	31,549,759		26,132,105		7,718,893		4,311,520		15,678,376		14,932,610		28,276,116		17,866,676
CHANGES IN UNITS:
Beginning units		4,683,123		2,725,346		328,168		276,826		1,377,996		1,557,702		1,471,121		555,690
Units purchased		534,493		2,478,645		156,315		98,801		118,060		122,432		842,838		1,008,618
Units redeemed		(1,014,160	)	(520,868	)	(72,300	)	(47,459	)	(280,491	)	(302,138	)	(201,519	)	(93,187	)
Ending units		4,203,456		4,683,123		412,183		328,168		1,215,565		1,377,996		2,112,440		1,471,121

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	ACVI					ACVI3				ACVMV1				ACVU1
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	499,991		257,481		149,185		81,052		79,153		1,720		6,758		(1,778	)
Realized gain (loss) on investments		(1,817,728	)	2,469,282		(2,457,774	)	77,204		(337,105	)	(214,958	)	(1,249,197	)	(190,995	)
Change in unrealized gain (loss) on investments		7,646,953		(25,813,579	)	3,577,208		(6,681,859	)	837,183		(282,036	)	1,752,880		(2,431,983	)
Reinvested capital gains		-		3,477,537		-		952,078		-		-		-		624,097
Net increase (decrease) in contract owners’ equity resulting from operations		6,329,216		(19,609,279	)	1,268,619		(5,571,525	)	579,231		(495,274	)	510,441		(2,000,659	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		256,325		618,884		875,837		1,731,418		376,909		324,352		203,832		448,760
Transfers between funds		(7,162,032	)	(1,613,073	)	(7,901,795	)	(418,966	)	344,013		(6,246	)	(2,176,059	)	(1,306,825	)
Surrenders (note 6)		(5,747,050	)	(2,316,247	)	(610,700	)	(700,271	)	(113,286	)	(194,757	)	(93,738	)	(145,283	)
Death benefits (note 4)		(109,866	)	(95,546	)	(8,423	)	(64,410	)	(169	)	-		(2,797	)	(7,417	)
Net policy repayments (loans) (note 5)		(37,869	)	(255,864	)	242,748		85,585		(38,948	)	(9,526	)	(3,536	)	(31,965	)
Deductions for surrender charges (note 2d)		(13,460	)	(34,952	)	(17,064	)	(30,035	)	(5,642	)	(6,118	)	(4,410	)	(10,461	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(909,646	)	(1,288,114	)	(346,939	)	(577,322	)	(124,627	)	(109,028	)	(113,956	)	(194,006	)
Asset charges (note 3):
FPVUL & VEL contracts		(18,693	)	(50,189	)	(17,029	)	(37,215	)	(6,935	)	(6,661	)	(4,676	)	(9,889	)
MSP contracts		(882	)	(2,236	)	(204	)	(455	)	(437	)	(415	)	(114	)	(266	)
SL contracts or LSFP contracts		(3,341	)	(9,635	)	(1,885	)	(5,044	)	(1,137	)	(1,109	)	(558	)	(1,283	)
Adjustments to maintain reserves		137		1,053		5,460		(305	)	116		(271	)	443		6,318
Net equity transactions		(13,746,377	)	(5,045,919	)	(7,779,994	)	(17,020	)	429,858		(9,779	)	(2,195,569	)	(1,252,317	)
Net change in contract owners’ equity		(7,417,161	)	(24,655,198	)	(6,511,375	)	(5,588,545	)	1,009,089		(505,053	)	(1,685,128	)	(3,252,976	)
Contract owners’ equity beginning of period		24,065,738		48,720,936		6,511,375		12,099,920		1,786,321		2,291,374		2,507,444		5,760,420
Contract owners’ equity end of period	$	16,648,577		24,065,738		-		6,511,375		2,795,410		1,786,321		822,316		2,507,444
CHANGES IN UNITS:
Beginning units		2,563,444		2,830,064		684,882		702,238		177,588		172,200		323,265		435,218
Units purchased		413,697		161,571		102,209		141,038		60,679		47,130		34,869		45,560
Units redeemed		(1,398,704	)	(428,191	)	(787,091	)	(158,394	)	(24,342	)	(41,742	)	(278,701	)	(157,513	)
Ending units		1,578,437		2,563,444		-		684,882		213,925		177,588		79,433		323,265

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	ACVV					ACVVS1				DVMCS				DVSCS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	2,567,542		1,345,712		(3,136	)	(2,028	)	7,754		6,201		513,409		156,917
Realized gain (loss) on investments		(5,673,840	)	(4,697,399	)	(2,157,073	)	(435,741	)	(194,997	)	(253,658	)	(5,382,740	)	(1,325,785	)
Change in unrealized gain (loss) on investments		11,996,736		(21,487,997	)	2,667,921		(2,649,965	)	397,732		(322,041	)	6,521,628		(10,876,821	)
Reinvested capital gains		-		7,372,247		-		198,639		-		125,095		3,690,903		3,338,301
Net increase (decrease) in contract owners’ equity resulting from operations		8,890,438		(17,467,437	)	507,712		(2,889,095	)	210,489		(444,403	)	5,343,200		(8,707,388	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		3,462,119		4,823,008		350,419		516,181		18,235		45,518		1,549,773		1,708,490
Transfers between funds		939,781		(3,231,628	)	(1,970,914	)	747,552		131,562		(328,793	)	3,331,538		3,465,034
Surrenders (note 6)		(2,992,993	)	(4,571,675	)	(46,524	)	(399,396	)	(42,213	)	(10,341	)	(1,105,804	)	(813,933	)
Death benefits (note 4)		(101,903	)	(147,725	)	(901	)	(745	)	(14	)	(6,063	)	(16,453	)	(18,274	)
Net policy repayments (loans) (note 5)		(7,525	)	(235,198	)	1,586		(19,896	)	7,444		(9,720	)	(280,899	)	(48,295	)
Deductions for surrender charges (note 2d)		(95,117	)	(151,004	)	(3,962	)	(6,505	)	-		-		(36,027	)	(48,324	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(2,164,400	)	(2,224,770	)	(125,689	)	(168,664	)	(13,153	)	(12,866	)	(670,203	)	(635,055	)
Asset charges (note 3):
FPVUL & VEL contracts		(113,332	)	(140,594	)	(4,191	)	(10,567	)	-		-		(23,118	)	(27,993	)
MSP contracts		(3,331	)	(4,101	)	(88	)	(234	)	-		-		(692	)	(428	)
SL contracts or LSFP contracts		(17,838	)	(22,819	)	(425	)	(1,613	)	-		-		(4,057	)	(6,019	)
Adjustments to maintain reserves		(174	)	1,214		106		(251	)	12		(107	)	190		11,814
Net equity transactions		(1,094,713	)	(5,905,292	)	(1,800,584	)	655,862		101,873		(322,372	)	2,744,248		3,587,017
Net change in contract owners’ equity		7,795,725		(23,372,729	)	(1,292,872	)	(2,233,233	)	312,362		(766,775	)	8,087,448		(5,120,371	)
Contract owners’ equity beginning of period		45,034,090		68,406,819		3,234,976		5,468,209		570,492		1,337,267		20,169,119		25,289,490
Contract owners’ equity end of period	$	52,829,815		45,034,090		1,942,104		3,234,976		882,854		570,492		28,256,567		20,169,119
CHANGES IN UNITS:
Beginning units		3,065,576		3,401,962		361,695		313,570		53,835		75,190		1,877,655		1,623,344
Units purchased		414,934		463,575		40,041		156,951		11,544		11,865		440,945		487,411
Units redeemed		(464,062	)	(799,961	)	(223,457	)	(108,826	)	(3,755	)	(33,220	)	(211,555	)	(233,100	)
Ending units		3,016,448		3,065,576		178,279		361,695		61,624		53,835		2,107,045		1,877,655

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	DSIF					DSRG				DCAP				DSC
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	4,611,419		6,319,860		89,517		91,532		529,882		574,356		8,771		4,928
Realized gain (loss) on investments		(15,363,916	)	15,818,799		(339,716	)	(37,843	)	(1,158,330	)	1,543,140		(237,303	)	(80,882	)
Change in unrealized gain (loss) on investments		53,256,000		(163,666,840	)	3,016,835		(4,914,476	)	3,343,161		(13,273,742	)	339,478		(205,053	)
Reinvested capital gains		15,610,923		-		-		-		1,595,366		2,238,570		-		29,526
Net increase (decrease) in contract owners’ equity resulting from operations		58,114,426		(141,528,181	)	2,766,636		(4,860,787	)	4,310,079		(8,917,676	)	110,946		(251,481	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		14,993,791		19,761,732		1,253,433		1,404,443		1,600,282		2,992,016		52,230		117,657
Transfers between funds		(20,202,465	)	12,743,215		(485,857	)	(436,901	)	165,445		(6,507,327	)	16,007		50,080
Surrenders (note 6)		(19,024,632	)	(22,570,115	)	(822,907	)	(928,362	)	(1,518,374	)	(1,322,133	)	(26,557	)	(65,557	)
Death benefits (note 4)		(957,808	)	(676,774	)	(30,191	)	(30,015	)	(20,573	)	(129,710	)	-		-
Net policy repayments (loans) (note 5)		1,723,359		(1,079,838	)	(34,091	)	(117,066	)	16,087		(31,928	)	(3,692	)	57,724
Deductions for surrender charges (note 2d)		(327,301	)	(450,561	)	(18,147	)	(34,630	)	(41,880	)	(52,971	)	(3,254	)	(5,085	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(9,939,235	)	(10,510,403	)	(873,104	)	(907,724	)	(995,180	)	(1,092,938	)	(26,762	)	(29,350	)
Asset charges (note 3):
FPVUL & VEL contracts		(327,458	)	(441,190	)	(40,921	)	(50,478	)	(51,781	)	(62,716	)	(1,785	)	(2,165	)
MSP contracts		(11,033	)	(15,136	)	(1,196	)	(1,555	)	(1,105	)	(1,343	)	-		-
SL contracts or LSFP contracts		(83,213	)	(131,293	)	(2,503	)	(3,926	)	(6,737	)	(10,042	)	(264	)	(225	)
Adjustments to maintain reserves		375		910		75		(349	)	155		(978	)	63		(185	)
Net equity transactions		(34,155,620	)	(3,369,453	)	(1,055,409	)	(1,106,563	)	(853,661	)	(6,220,070	)	5,986		122,894
Net change in contract owners’ equity		23,958,806		(144,897,634	)	1,711,227		(5,967,350	)	3,456,418		(15,137,746	)	116,932		(128,587	)
Contract owners’ equity beginning of period		240,896,002		385,793,636		8,931,784		14,899,134		20,333,092		35,470,838		528,618		657,205
Contract owners’ equity end of period	$	264,854,808		240,896,002		10,643,011		8,931,784		23,789,510		20,333,092		645,550		528,618
CHANGES IN UNITS:
Beginning units		27,480,971		27,146,494		1,059,639		1,157,932		1,847,383		2,352,372		60,390		46,856
Units purchased		2,190,468		5,271,091		142,236		139,091		189,168		282,871		14,002		18,551
Units redeemed		(5,426,801	)	(4,936,614	)	(263,854	)	(237,384	)	(248,082	)	(787,860	)	(15,879	)	(5,017	)
Ending units		24,244,638		27,480,971		938,021		1,059,639		1,788,469		1,847,383		58,513		60,390

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	DVIV					SVSSVB				SVSHEB				FVCA2P
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	802,080		609,939		66,248		20,636		20,726		14,686		5,549		1,756
Realized gain (loss) on investments		(5,642,350	)	(4,701,583	)	(991,504	)	(1,158,549	)	(365,065	)	(225,420	)	(15,641	)	2,000
Change in unrealized gain (loss) on investments		10,533,052		(13,304,437	)	1,926,210		(1,691,972	)	449,631		(340,683	)	85,511		(185,047	)
Reinvested capital gains		-		5,147,830		-		843,807		-		119,020		-		10,715
Net increase (decrease) in contract owners’ equity resulting from operations		5,692,782		(12,248,251	)	1,000,954		(1,986,078	)	105,292		(432,397	)	75,419		(170,576	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		969,516		1,726,807		56,728		2,522		42,298		38,562		53,556		58,118
Transfers between funds		(2,201,698	)	(4,503,936	)	(100,655	)	6,624,162		(157,787	)	222,436		131,145		95,605
Surrenders (note 6)		(338,852	)	(330,732	)	(3,360,663	)	(235,438	)	(26,594	)	(105	)	(48,967	)	(23,553	)
Death benefits (note 4)		(36,099	)	(26,287	)	(38,126	)	-		-		-		-		-
Net policy repayments (loans) (note 5)		143		(309,795	)	(10,085	)	-		-		-		1,694		(13,483	)
Deductions for surrender charges (note 2d)		-		-		-		-		-		-		(656	)	(487	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(321,217	)	(326,358	)	(257,513	)	(167,687	)	(13,802	)	(15,906	)	(20,933	)	(18,910	)
Asset charges (note 3):
FPVUL & VEL contracts		(112	)	-		(30	)	-		-		-		(1,556	)	(1,528	)
MSP contracts		-		-		-		-		-		-		(31	)	(35	)
SL contracts or LSFP contracts		-		-		-		-		-		-		(399	)	(420	)
Adjustments to maintain reserves		33		(1,657	)	2		(90	)	4		(163	)	42		(111	)
Net equity transactions		(1,928,286	)	(3,771,958	)	(3,710,342	)	6,223,469		(155,881	)	244,824		113,895		95,196
Net change in contract owners’ equity		3,764,496		(16,020,209	)	(2,709,388	)	4,237,391		(50,589	)	(187,573	)	189,314		(75,380	)
Contract owners’ equity beginning of period		19,916,735		35,936,944		4,237,391		-		556,432		744,005		438,882		514,262
Contract owners’ equity end of period	$	23,681,231		19,916,735		1,528,003		4,237,391		505,843		556,432		628,196		438,882
CHANGES IN UNITS:
Beginning units		1,460,923		1,649,104		672,760		-		94,357		67,742		36,885		30,528
Units purchased		82,908		186,855		45,475		753,052		6,594		28,497		14,544		10,291
Units redeemed		(215,371	)	(375,036	)	(529,998	)	(80,292	)	(32,141	)	(1,882	)	(4,905	)	(3,934	)
Ending units		1,328,460		1,460,923		188,237		672,760		68,810		94,357		46,524		36,885

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FALF					FVMOS				FQB				FCS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	4,980		4,437		11,339		6,586		2,031,892		2,039,576		1,550,632		1,567,013
Realized gain (loss) on investments		(90,243	)	(26,490	)	(17,471	)	(84,026	)	(284,840	)	(595,132	)	(38,137,604	)	(3,002,018	)
Change in unrealized gain (loss) on investments		112,514		(140,537	)	2,498		(16,844	)	4,238,316		(3,824,604	)	74,183,384		(106,447,811	)
Reinvested capital gains		-		68,651		11,510		-		-		-		36,005		5,516,799
Net increase (decrease) in contract owners’ equity resulting from operations		27,251		(93,939	)	7,876		(94,284	)	5,985,368		(2,380,160	)	37,632,417		(102,366,017	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		7,318		23,058		56,736		61,741		1,841,214		2,289,439		9,007,187		13,173,081
Transfers between funds		16,561		(11,035	)	51,298		881,580		1,722,487		(7,238,739	)	(24,042,556	)	8,374,973
Surrenders (note 6)		(29,556	)	(11,851	)	(93,659	)	(71,987	)	(1,305,814	)	(4,274,629	)	(9,034,785	)	(10,812,520	)
Death benefits (note 4)		-		-		-		-		(73,632	)	(214,209	)	(336,831	)	(639,622	)
Net policy repayments (loans) (note 5)		(7,062	)	4,050		(22,495	)	(17,796	)	(212,033	)	(33,306	)	1,183,619		(546,140	)
Deductions for surrender charges (note 2d)		(1,594	)	(737	)	(2,103	)	(1,339	)	(49,747	)	(65,824	)	(192,255	)	(272,763	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(9,054	)	(11,184	)	(37,061	)	(24,923	)	(1,336,261	)	(1,380,424	)	(5,367,108	)	(6,160,319	)
Asset charges (note 3):
FPVUL & VEL contracts		(734	)	(958	)	(2,628	)	(2,111	)	(71,710	)	(75,175	)	(254,511	)	(341,997	)
MSP contracts		-		-		(133	)	(36	)	(3,138	)	(3,442	)	(8,338	)	(11,685	)
SL contracts or LSFP contracts		(120	)	(173	)	(48	)	(17	)	(11,782	)	(13,206	)	(37,941	)	(60,093	)
Adjustments to maintain reserves		(35	)	(116	)	33		(201	)	339		(1,454	)	484		(7,996	)
Net equity transactions		(24,276	)	(8,946	)	(50,060	)	824,911		499,924		(11,010,969	)	(29,083,035	)	2,694,919
Net change in contract owners’ equity		2,975		(102,885	)	(42,184	)	730,627		6,485,292		(13,391,129	)	8,549,382		(99,671,098	)
Contract owners’ equity beginning of period		182,692		285,577		776,834		46,207		29,220,443		42,611,572		138,013,329		237,684,427
Contract owners’ equity end of period	$	185,667		182,692		734,650		776,834		35,705,735		29,220,443		146,562,711		138,013,329
CHANGES IN UNITS:
Beginning units		18,003		18,632		76,516		4,512		2,049,199		2,769,010		11,013,774		10,608,174
Units purchased		3,434		1,861		11,355		80,667		259,877		180,046		840,475		2,481,947
Units redeemed		(5,488	)	(2,490	)	(16,428	)	(8,663	)	(225,694	)	(899,857	)	(3,346,068	)	(2,076,347	)
Ending units		15,949		18,003		71,443		76,516		2,083,382		2,049,199		8,508,181		11,013,774

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FNRS2					FEIS				FF10S				FF20S
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	19,097		-		1,180,270		1,965,146		66,791		44,281		168,966		120,839
Realized gain (loss) on investments		(3,503,742	)	255,259		(8,802,232	)	(1,339,636	)	(158,183	)	(53,432	)	(690,784	)	(159,092	)
Change in unrealized gain (loss) on investments		7,057,894		(9,827,149	)	22,562,984		(45,577,309	)	488,742		(505,036	)	1,954,092		(1,785,136	)
Reinvested capital gains		-		470,633		-		90,581		14,154		66,308		63,886		210,061
Net increase (decrease) in contract owners’ equity resulting from operations		3,573,249		(9,101,257	)	14,941,022		(44,861,218	)	411,504		(447,879	)	1,496,160		(1,613,328	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		921,259		1,058,931		4,899,671		6,381,226		60,646		43,955		732,783		778,261
Transfers between funds		(1,393,880	)	3,529,605		(6,014,274	)	(4,012,784	)	265,977		298,272		899,650		2,166,797
Surrenders (note 6)		(682,814	)	(2,227,420	)	(4,389,242	)	(4,511,875	)	(28,995	)	(54,598	)	(613,436	)	(443,408	)
Death benefits (note 4)		(9,801	)	(9,548	)	(163,982	)	(231,324	)	(37,311	)	(33,852	)	(48,314	)	-
Net policy repayments (loans) (note 5)		26,475		1,031,690		(251,250	)	116,709		(616	)	(2,234	)	(1,977	)	(7,371	)
Deductions for surrender charges (note 2d)		(23,203	)	(46,203	)	(98,170	)	(145,202	)	(347	)	(996	)	(7,949	)	(5,843	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(462,382	)	(616,991	)	(2,927,280	)	(3,408,744	)	(79,301	)	(62,548	)	(201,066	)	(151,659	)
Asset charges (note 3):
FPVUL & VEL contracts		(28,455	)	(43,503	)	(138,715	)	(190,746	)	(5,184	)	(5,557	)	(7,671	)	(7,390	)
MSP contracts		(2,561	)	(2,895	)	(5,248	)	(7,457	)	(2,518	)	(664	)	(4,106	)	(3,799	)
SL contracts or LSFP contracts		(5,285	)	(8,529	)	(23,702	)	(36,863	)	(183	)	(130	)	(3,983	)	(3,981	)
Adjustments to maintain reserves		127		(456	)	264		(2,214	)	35		(84	)	78		(174	)
Net equity transactions		(1,660,519	)	2,664,681		(9,111,927	)	(6,049,274	)	172,203		181,564		744,008		2,321,433
Net change in contract owners’ equity		1,912,730		(6,436,576	)	5,829,095		(50,910,492	)	583,707		(266,315	)	2,240,168		708,105
Contract owners’ equity beginning of period		7,818,837		14,255,413		57,428,367		108,338,859		1,305,396		1,571,711		3,755,922		3,047,817
Contract owners’ equity end of period	$	9,731,567		7,818,837		63,257,462		57,428,367		1,889,103		1,305,396		5,996,090		3,755,922
CHANGES IN UNITS:
Beginning units		747,087		621,068		5,797,882		6,259,548		135,192		121,944		408,386		222,540
Units purchased		96,254		222,629		520,004		725,390		36,923		24,022		183,284		227,186
Units redeemed		(213,252	)	(96,610	)	(1,435,167	)	(1,187,056	)	(14,492	)	(10,774	)	(84,386	)	(41,340	)
Ending units		630,089		747,087		4,882,719		5,797,882		157,623		135,192		507,284		408,386

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FF30S					FGIS				FGOS				FGS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	56,247		56,352		524		(24	)	24,301		32,689		140,356		613,870
Realized gain (loss) on investments		(258,601	)	(26,453	)	(3,209	)	(7,749	)	(205,046	)	628,913		(170,254	)	5,181,843
Change in unrealized gain (loss) on investments		870,053		(1,220,170	)	14,001		-		2,704,979		(8,114,515	)	15,472,365		(59,635,200	)
Reinvested capital gains		31,524		163,010		-		-		-		-		51,075		-
Net increase (decrease) in contract owners’ equity resulting from operations		699,223		(1,027,261	)	11,316		(7,773	)	2,524,234		(7,452,913	)	15,493,542		(53,839,487	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		366,393		381,816		3		(1,085	)	673,114		792,028		6,031,817		7,046,371
Transfers between funds		411,897		873,657		58,366		8,964		(201,169	)	(290,519	)	(2,738,938	)	(136,368	)
Surrenders (note 6)		(135,211	)	(59,154	)	-		-		(373,231	)	(905,202	)	(10,901,774	)	(5,407,244	)
Death benefits (note 4)		(1,507	)	-		(108	)	-		(11,187	)	(16,992	)	(167,800	)	(215,391	)
Net policy repayments (loans) (note 5)		(15,113	)	(33,677	)	-		-		51,325		149,683		411,525		(987,857	)
Deductions for surrender charges (note 2d)		(22,995	)	(7,172	)	-		-		(12,957	)	(26,134	)	(122,063	)	(163,052	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(154,222	)	(152,296	)	(515	)	(108	)	(496,575	)	(578,450	)	(3,922,229	)	(4,490,214	)
Asset charges (note 3):
FPVUL & VEL contracts		(8,972	)	(8,423	)	-		-		(23,675	)	(34,630	)	(153,897	)	(224,291	)
MSP contracts		(1,192	)	(1,456	)	-		-		(901	)	(1,373	)	(4,267	)	(6,818	)
SL contracts or LSFP contracts		(760	)	(751	)	-		-		(4,164	)	(7,293	)	(18,176	)	(29,683	)
Adjustments to maintain reserves		315		1,699		(1	)	2		40		(129	)	215		(1,061	)
Net equity transactions		438,634		994,243		57,745		7,773		(399,381	)	(919,011	)	(11,585,588	)	(4,615,608	)
Net change in contract owners’ equity		1,137,857		(33,018	)	69,061		-		2,124,853		(8,371,924	)	3,907,954		(58,455,095	)
Contract owners’ equity beginning of period		1,910,236		1,943,254		-		-		5,741,636		14,113,560		60,833,619		119,288,714
Contract owners’ equity end of period	$	3,048,093		1,910,236		69,061		-		7,866,489		5,741,636		64,741,573		60,833,619
CHANGES IN UNITS:
Beginning units		216,667		136,304		-		-		928,680		1,026,154		7,700,401		7,780,228
Units purchased		79,628		106,946		9,348		12		99,337		105,532		787,812		1,467,717
Units redeemed		(33,104	)	(26,583	)	(104	)	(12	)	(155,742	)	(203,006	)	(2,156,095	)	(1,547,544	)
Ending units		263,191		216,667		9,244		-		872,275		928,680		6,332,118		7,700,401

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FHIS					FHISR				FIP				FIGBS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	1,014,107		1,567,014		265,552		181,702		89,440		97,318		1,451,310		577,502
Realized gain (loss) on investments		(2,346,308	)	(1,663,434	)	(368,107	)	(388,500	)	(905,611	)	(439,647	)	(218,707	)	(224,056	)
Change in unrealized gain (loss) on investments		7,293,431		(5,012,716	)	1,117,802		(443,840	)	1,620,518		(1,415,432	)	1,108,825		(878,509	)
Reinvested capital gains		-		-		-		-		79,994		-		66,026		11,500
Net increase (decrease) in contract owners’ equity resulting from operations		5,961,230		(5,109,136	)	1,015,247		(650,638	)	884,341		(1,757,761	)	2,407,454		(513,563	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		528,515		1,027,626		582,129		633,647		112,714		(11,553	)	1,112,309		1,077,108
Transfers between funds		800,914		(4,639,572	)	860,493		(263,516	)	118,874		5,323,184		1,469,190		876,503
Surrenders (note 6)		(6,607,266	)	(1,029,366	)	(514,675	)	(217,629	)	-		-		(1,800,765	)	(846,344	)
Death benefits (note 4)		(76,510	)	(158,716	)	(5,348	)	(11,673	)	(15,004	)	-		(10,094	)	(13,793	)
Net policy repayments (loans) (note 5)		(175,701	)	(191,243	)	315,065		71,429		-		-		(91,945	)	(100,225	)
Deductions for surrender charges (note 2d)		(26,124	)	(12,074	)	(8,883	)	(5,323	)	-		-		(39,692	)	(42,234	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(871,020	)	(826,341	)	(195,153	)	(126,364	)	(36,158	)	(37,441	)	(701,838	)	(556,665	)
Asset charges (note 3):
FPVUL & VEL contracts		(23,491	)	(29,429	)	(9,941	)	(7,521	)	-		-		(40,726	)	(36,049	)
MSP contracts		(1,408	)	(1,554	)	(102	)	(63	)	-		-		(2,934	)	(2,793	)
SL contracts or LSFP contracts		(2,630	)	(4,833	)	(2,552	)	(1,520	)	-		-		(17,601	)	(12,012	)
Adjustments to maintain reserves		436		909		24		(109	)	6		(132	)	16		(387	)
Net equity transactions		(6,454,286	)	(5,864,593	)	1,021,056		71,358		180,432		5,274,058		(124,080	)	343,109
Net change in contract owners’ equity		(493,056	)	(10,973,729	)	2,036,303		(579,280	)	1,064,773		3,516,297		2,283,374		(170,454	)
Contract owners’ equity beginning of period		14,117,956		25,091,685		1,709,984		2,289,264		3,516,297		-		14,356,232		14,526,686
Contract owners’ equity end of period	$	13,624,900		14,117,956		3,746,287		1,709,984		4,581,070		3,516,297		16,639,606		14,356,232
CHANGES IN UNITS:
Beginning units		1,538,011		2,023,784		230,571		231,578		551,311		-		1,257,854		1,230,686
Units purchased		131,771		71,249		196,276		77,010		25,026		555,792		209,579		249,793
Units redeemed		(672,044	)	(557,022	)	(75,882	)	(78,017	)	(7,842	)	(4,481	)	(206,567	)	(222,625	)
Ending units		997,738		1,538,011		350,965		230,571		568,495		551,311		1,260,866		1,257,854

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FMCS					FOS				FOSR				FVSS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	157,840		107,251		498,907		964,026		221,481		398,857		14,646		29,057
Realized gain (loss) on investments		(4,816,852	)	(2,320,974	)	(2,964,630	)	1,897,452		(1,450,487	)	(84,440	)	(1,474,268	)	(2,031,968	)
Change in unrealized gain (loss) on investments		15,544,782		(20,681,917	)	8,680,677		(30,619,099	)	3,796,623		(10,589,282	)	2,868,659		(2,944,133	)
Reinvested capital gains		167,621		5,673,851		86,971		5,319,862		34,875		1,841,509		-		1,635,580
Net increase (decrease) in contract owners’ equity resulting from operations		11,053,391		(17,221,789	)	6,301,925		(22,437,759	)	2,602,492		(8,433,356	)	1,409,037		(3,311,464	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		2,796,586		2,941,912		1,118,093		1,220,793		1,667,323		2,343,181		320,330		503,372
Transfers between funds		(197,748	)	4,315,996		(2,522,542	)	(2,974,098	)	(667,393	)	(336,009	)	(175,406	)	(2,915,680	)
Surrenders (note 6)		(2,271,179	)	(1,267,097	)	(2,520,492	)	(1,837,054	)	(1,393,473	)	(734,218	)	(295,655	)	(366,990	)
Death benefits (note 4)		(522,334	)	(16,839	)	(8,121	)	(43,879	)	(9,594	)	(10,456	)	(20,978	)	(3,790	)
Net policy repayments (loans) (note 5)		(96,386	)	(594,321	)	(280,378	)	(201,285	)	95,249		(9,704	)	(55,097	)	(223,440	)
Deductions for surrender charges (note 2d)		(67,437	)	(76,297	)	(52,416	)	(31,395	)	(36,249	)	(42,099	)	(9,979	)	(21,043	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(1,422,500	)	(1,371,833	)	(870,779	)	(1,085,797	)	(670,427	)	(753,965	)	(170,429	)	(211,568	)
Asset charges (note 3):
FPVUL & VEL contracts		(67,635	)	(80,400	)	(25,245	)	(40,454	)	(40,697	)	(53,803	)	(9,693	)	(14,825	)
MSP contracts		(2,463	)	(2,958	)	(594	)	(1,046	)	(525	)	(710	)	(140	)	(248	)
SL contracts or LSFP contracts		(13,513	)	(18,178	)	(6,290	)	(11,790	)	(6,753	)	(9,676	)	(607	)	(1,011	)
Adjustments to maintain reserves		(997	)	(1,358	)	84		(1,827	)	102		(297	)	94		(275	)
Net equity transactions		(1,865,606	)	3,828,627		(5,168,680	)	(5,007,832	)	(1,062,437	)	392,244		(417,560	)	(3,255,498	)
Net change in contract owners’ equity		9,187,785		(13,393,162	)	1,133,245		(27,445,591	)	1,540,055		(8,041,112	)	991,477		(6,566,962	)
Contract owners’ equity beginning of period		28,030,054		41,423,216		27,433,963		54,879,554		10,638,536		18,679,648		2,680,870		9,247,832
Contract owners’ equity end of period	$	37,217,839		28,030,054		28,567,208		27,433,963		12,178,591		10,638,536		3,672,347		2,680,870
CHANGES IN UNITS:
Beginning units		1,725,728		1,538,812		2,724,548		3,039,326		1,096,774		1,080,792		323,896		544,410
Units purchased		256,639		429,420		152,172		323,334		173,704		204,196		38,702		79,391
Units redeemed		(346,441	)	(242,504	)	(630,964	)	(638,112	)	(277,882	)	(188,214	)	(81,014	)	(299,905	)
Ending units		1,635,926		1,725,728		2,245,756		2,724,548		992,596		1,096,774		281,584		323,896

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FF15S					FF25S				FTVIS2				FTVRDI
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	35,845		27,762		16,647		7,341		313,612		247,666		163,842		246,107
Realized gain (loss) on investments		(236,332	)	(18,251	)	(28,032	)	(7,254	)	(499,666	)	(199,597	)	(577,159	)	39,108
Change in unrealized gain (loss) on investments		406,105		(274,869	)	139,482		(104,475	)	1,348,478		(1,655,102	)	1,903,727		(3,991,162	)
Reinvested capital gains		13,329		28,462		5,650		10,967		-		103,703		-		91,080
Net increase (decrease) in contract owners’ equity resulting from operations		218,947		(236,896	)	133,747		(93,421	)	1,162,424		(1,503,330	)	1,490,410		(3,614,867	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		111,700		51,117		38,096		6,501		367,692		340,125		1,022,781		1,080,065
Transfers between funds		(305	)	1,074,503		228,073		330,456		(173,558	)	110,349		62,494		(1,454,085	)
Surrenders (note 6)		(2,216	)	-		(3,332	)	-		(327,889	)	(124,660	)	(1,000,863	)	(608,305	)
Death benefits (note 4)		(10,042	)	-		(4,436	)	-		(331	)	(9,041	)	(33,527	)	(48,605	)
Net policy repayments (loans) (note 5)		-		-		-		-		(2,213	)	16,642		(154,524	)	(83,502	)
Deductions for surrender charges (note 2d)		-		-		-		-		(4,378	)	(2,074	)	(54,334	)	(86,276	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(19,622	)	(7,580	)	(7,584	)	(2,128	)	(207,936	)	(201,583	)	(527,726	)	(583,283	)
Asset charges (note 3):
FPVUL & VEL contracts		(181	)	-		(2	)	-		(8,686	)	(10,220	)	(35,569	)	(43,888	)
MSP contracts		-		-		-		-		(1,639	)	(1,946	)	(1,022	)	(1,255	)
SL contracts or LSFP contracts		-		-		-		-		(5,174	)	(5,748	)	(4,487	)	(6,266	)
Adjustments to maintain reserves		24		(27	)	18		(20	)	13		(684	)	110		(271	)
Net equity transactions		79,358		1,118,013		250,833		334,809		(364,098	)	111,160		(726,667	)	(1,835,671	)
Net change in contract owners’ equity		298,305		881,117		384,580		241,388		798,326		(1,392,170	)	763,743		(5,450,538	)
Contract owners’ equity beginning of period		881,117		-		241,388		-		3,451,283		4,843,453		9,362,356		14,812,894
Contract owners’ equity end of period	$	1,179,422		881,117		625,968		241,388		4,249,609		3,451,283		10,126,099		9,362,356
CHANGES IN UNITS:
Beginning units		118,752		-		35,716		-		421,586		416,188		787,806		910,630
Units purchased		34,618		123,230		37,806		36,206		50,921		55,768		77,928		86,336
Units redeemed		(26,057	)	(4,478	)	(2,143	)	(490	)	(89,671	)	(50,370	)	(141,637	)	(209,160	)
Ending units		127,313		118,752		71,379		35,716		382,836		421,586		724,097		787,806

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FTVSVI					FTVSV2				FTVMD2				FTVDM3
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	150,962		147,861		51,803		39,612		1,950		1,380		145,606		151,739
Realized gain (loss) on investments		(917,805	)	(160,397	)	(1,390,336	)	(582,936	)	(10,390	)	(3,430	)	(805,887	)	(269,331	)
Change in unrealized gain (loss) on investments		2,461,641		(4,661,084	)	2,181,594		(1,378,961	)	44,892		(17,922	)	2,635,761		(4,596,789	)
Reinvested capital gains		350,550		799,863		165,739		350,132		5,595		2,827		13,648		1,100,871
Net increase (decrease) in contract owners’ equity resulting from operations		2,045,348		(3,873,757	)	1,008,800		(1,572,153	)	42,047		(17,145	)	1,989,128		(3,613,510	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		863,669		1,041,503		248,450		254,804		19		(45	)	543,048		417,586
Transfers between funds		(224,665	)	244,305		518,265		(317,724	)	99,663		85,962		909,392		(1,200,348	)
Surrenders (note 6)		(389,024	)	(293,697	)	(352,465	)	(87,532	)	-		-		(215,313	)	(243,005	)
Death benefits (note 4)		(1,166	)	(63,349	)	(2,924	)	-		(636	)	-		(5,865	)	-
Net policy repayments (loans) (note 5)		(112,640	)	(56,607	)	(11,580	)	-		-		-		(68,935	)	(29,337	)
Deductions for surrender charges (note 2d)		(39,693	)	(34,396	)	-		-		-		-		(5,637	)	(13,881	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(412,959	)	(430,515	)	(78,972	)	(70,001	)	(2,034	)	(641	)	(208,344	)	(232,057	)
Asset charges (note 3):
FPVUL & VEL contracts		(27,852	)	(32,483	)	(363	)	-		-		-		(12,685	)	(17,056	)
MSP contracts		(963	)	(1,242	)	-		-		-		-		(626	)	(854	)
SL contracts or LSFP contracts		(3,961	)	(8,155	)	-		-		-		-		(3,100	)	(4,523	)
Adjustments to maintain reserves		(1,417	)	(363	)	32		356		5		(14	)	105		(359	)
Net equity transactions		(350,671	)	365,001		320,443		(220,097	)	97,017		85,262		932,040		(1,323,834	)
Net change in contract owners’ equity		1,694,677		(3,508,756	)	1,329,243		(1,792,250	)	139,064		68,117		2,921,168		(4,937,344	)
Contract owners’ equity beginning of period		7,796,888		11,305,644		3,286,714		5,078,964		68,117		-		2,758,868		7,696,212
Contract owners’ equity end of period	$	9,491,565		7,796,888		4,615,957		3,286,714		207,181		68,117		5,680,036		2,758,868
CHANGES IN UNITS:
Beginning units		560,057		545,164		381,137		393,948		9,508		-		275,997		364,400
Units purchased		69,493		73,627		86,958		106,273		14,344		9,583		94,539		39,126
Units redeemed		(103,255	)	(58,734	)	(53,020	)	(119,084	)	(352	)	(75	)	(41,380	)	(127,529	)
Ending units		526,295		560,057		415,075		381,137		23,500		9,508		329,156		275,997

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	TIF					TIF2				TIF3				FTVGI2
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	55,755		66,199		341,266		320,223		175,850		164,729		289,491		20,598
Realized gain (loss) on investments		(81,845	)	(31,498	)	(3,399,112	)	26,260		(726,575	)	(71,704	)	(32,038	)	(1	)
Change in unrealized gain (loss) on investments		438,313		(1,488,551	)	6,489,010		(9,427,721	)	1,930,983		(3,947,571	)	52,782		(4,244	)
Reinvested capital gains		62,378		239,532		451,291		1,441,783		212,562		635,903		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		474,601		(1,214,318	)	3,882,455		(7,639,455	)	1,592,820		(3,218,643	)	310,235		16,353
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		41		-		806,566		848,633		522,616		719,233		164,993		553,199
Transfers between funds		(87,521	)	(351,962	)	(1,161,518	)	(2,730,461	)	(570,054	)	454,678		1,083,600		466,055
Surrenders (note 6)		(60,255	)	(79,037	)	(1,201,312	)	(2,772,588	)	(439,480	)	(197,681	)	(2,269	)	(252	)
Death benefits (note 4)		-		-		(58,838	)	(37,130	)	(584	)	(608	)	(2,761	)	-
Net policy repayments (loans) (note 5)		(16,520	)	(41,203	)	731,642		(6,035	)	(19,199	)	(16,792	)	126		214
Deductions for surrender charges (note 2d)		(3,956	)	(5,221	)	-		-		(21,871	)	(18,517	)	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(58,983	)	(76,321	)	(166,754	)	(155,830	)	(239,699	)	(273,111	)	(40,404	)	(11,492	)
Asset charges (note 3):
FPVUL & VEL contracts		(5,002	)	(7,701	)	-		-		(14,566	)	(18,536	)	(207	)	-
MSP contracts		(382	)	(462	)	-		-		(262	)	(614	)	-		-
SL contracts or LSFP contracts		(1,084	)	(1,821	)	-		-		(6,844	)	(5,795	)	-		-
Adjustments to maintain reserves		132		(348	)	15		(3,716	)	(308	)	(295	)	25		(44	)
Net equity transactions		(233,529	)	(564,076	)	(1,050,199	)	(4,857,127	)	(790,251	)	641,962		1,203,103		1,007,680
Net change in contract owners’ equity		241,072		(1,778,394	)	2,832,256		(12,496,582	)	802,569		(2,576,681	)	1,513,338		1,024,033
Contract owners’ equity beginning of period		1,457,331		3,235,725		10,002,357		22,498,939		4,741,936		7,318,617		1,024,033		-
Contract owners’ equity end of period	$	1,698,403		1,457,331		12,834,613		10,002,357		5,544,505		4,741,936		2,537,371		1,024,033
CHANGES IN UNITS:
Beginning units		99,305		131,776		740,460		991,386		502,570		462,356		94,925		-
Units purchased		9		-		106,764		90,226		49,905		86,001		108,351		96,058
Units redeemed		(15,048	)	(32,471	)	(152,623	)	(341,152	)	(124,164	)	(45,787	)	(4,640	)	(1,133	)
Ending units		84,266		99,305		694,601		740,460		428,311		502,570		198,636		94,925

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	FTVGI3					FTVFA2				GVMCE				SBVSG
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	1,010,310		233,513		6,436		3,349		648,737		425,924		(506	)	(165	)
Realized gain (loss) on investments		(194,950	)	178,655		(33,732	)	(1,684	)	(7,867,883	)	(10,481,013	)	(18,609	)	(10,891	)
Change in unrealized gain (loss) on investments		312,003		(225,501	)	83,885		(42,263	)	18,839,243		(14,754,743	)	104,712		(44,922	)
Reinvested capital gains		-		-		-		3,322		-		103,156		-		724
Net increase (decrease) in contract owners’ equity resulting from operations		1,127,363		186,667		56,589		(37,276	)	11,620,097		(24,706,676	)	85,597		(55,254	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		590,036		486,537		36,283		5,786		1,476,811		2,501,850		1,939		628
Transfers between funds		(678,613	)	2,901,911		118,482		151,723		(1,551,525	)	(14,131,346	)	100,339		162,834
Surrenders (note 6)		(703,025	)	(241,708	)	(18,028	)	-		(2,223,541	)	(2,264,344	)	(7,889	)	-
Death benefits (note 4)		(226	)	(6,220	)	-		-		(76,838	)	(98,115	)	-		-
Net policy repayments (loans) (note 5)		1,895		(73,593	)	(783	)	(778	)	(5,807	)	(533,852	)	(6,076	)	-
Deductions for surrender charges (note 2d)		(8,038	)	(6,389	)	(140	)	-		-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(347,645	)	(257,301	)	(10,828	)	(3,084	)	(664,105	)	(807,319	)	(8,102	)	(1,728	)
Asset charges (note 3):
FPVUL & VEL contracts		(21,288	)	(16,181	)	(851	)	(265	)	-		-		(3	)	-
MSP contracts		(685	)	(600	)	(29	)	(16	)	-		-		-		-
SL contracts or LSFP contracts		(4,316	)	(3,196	)	(109	)	-		-		-		-		-
Adjustments to maintain reserves		139		(253	)	8		(7	)	211		296		5		(16	)
Net equity transactions		(1,171,766	)	2,783,007		124,005		153,359		(3,044,794	)	(15,332,830	)	80,213		161,718
Net change in contract owners’ equity		(44,403	)	2,969,674		180,594		116,083		8,575,303		(40,039,506	)	165,810		106,464
Contract owners’ equity beginning of period		6,446,506		3,476,832		116,083		-		37,957,648		77,997,154		106,464		-
Contract owners’ equity end of period	$	6,402,103		6,446,506		296,677		116,083		46,532,951		37,957,648		272,274		106,464
CHANGES IN UNITS:
Beginning units		490,278		280,836		17,440		-		2,832,966		3,657,366		18,197		-
Units purchased		60,991		255,186		19,878		18,023		150,600		400,664		18,130		18,423
Units redeemed		(141,026	)	(45,744	)	(3,098	)	(583	)	(372,337	)	(1,225,064	)	(3,650	)	(226	)
Ending units		410,243		490,278		34,220		17,440		2,611,229		2,832,966		32,677		18,197

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	BNCAI					AMGP				AMINS				AMCG
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(21,202	)	(31,367	)	13,816		52,323		-		-		(14,212	)	(20,752	)
Realized gain (loss) on investments		(1,758,205	)	(1,077,710	)	(1,542,769	)	607,105		(1,466,302	)	(131,792	)	3,341,833		2,433,292
Change in unrealized gain (loss) on investments		4,837,859		(4,879,350	)	2,680,187		(5,426,146	)	1,820,124		(1,655,919	)	1,225,579		(23,546,784	)
Reinvested capital gains		-		623,887		-		386,741		-		(47	)	-		-
Net increase (decrease) in contract owners’ equity resulting from operations		3,058,452		(5,364,540	)	1,151,234		(4,379,977	)	353,822		(1,787,758	)	4,553,200		(21,134,244	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		656,234		630,425		244,183		533,544		65,299		240,129		1,056,999		2,145,143
Transfers between funds		347,031		(3,146,668	)	(5,838,657	)	(828,918	)	(2,205,412	)	(330,601	)	(19,239,794	)	702,907
Surrenders (note 6)		(662,978	)	(85,809	)	(819,973	)	(580,792	)	(116,343	)	(109,755	)	(5,616,544	)	(2,500,205	)
Death benefits (note 4)		(14,320	)	(17,260	)	(4,578	)	(1,810	)	-		-		(84,081	)	(94,449	)
Net policy repayments (loans) (note 5)		(148,984	)	(48,609	)	77,234		(11,762	)	(7,532	)	(76,321	)	(50,813	)	(149,167	)
Deductions for surrender charges (note 2d)		-		-		(13,343	)	(16,272	)	(3,413	)	(3,815	)	(51,831	)	(78,775	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(194,251	)	(218,704	)	(245,140	)	(425,209	)	(70,693	)	(128,360	)	(1,177,096	)	(1,780,702	)
Asset charges (note 3):
FPVUL & VEL contracts		(379	)	-		(12,303	)	(28,304	)	(3,768	)	(9,210	)	(38,528	)	(91,519	)
MSP contracts		-		-		(233	)	(677	)	(171	)	(622	)	(701	)	(1,799	)
SL contracts or LSFP contracts		-		-		(1,082	)	(2,722	)	(801	)	(2,035	)	(5,686	)	(14,571	)
Adjustments to maintain reserves		114		(819	)	113		(406	)	66		(18	)	174		(905	)
Net equity transactions		(17,533	)	(2,887,444	)	(6,613,779	)	(1,363,328	)	(2,342,769	)	(420,608	)	(25,207,900	)	(1,864,042	)
Net change in contract owners’ equity		3,040,919		(8,251,984	)	(5,462,545	)	(5,743,305	)	(1,988,947	)	(2,208,366	)	(20,654,700	)	(22,998,286	)
Contract owners’ equity beginning of period		7,597,766		15,849,750		7,030,294		12,773,599		1,988,947		4,197,313		26,235,936		49,234,222
Contract owners’ equity end of period	$	10,638,685		7,597,766		1,567,749		7,030,294		-		1,988,947		5,581,236		26,235,936
CHANGES IN UNITS:
Beginning units		647,462		819,894		551,770		633,674		248,009		280,340		2,207,124		2,319,260
Units purchased		117,245		120,270		21,595		59,167		9,142		33,317		82,822		273,625
Units redeemed		(108,802	)	(292,702	)	(448,451	)	(141,071	)	(257,151	)	(65,648	)	(1,752,689	)	(385,761	)
Ending units		655,905		647,462		124,914		551,770		-		248,009		537,257		2,207,124

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	AMTP					AMRI				AMRS				AMFAS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	39,264		73,355		38,852		37,123		-		9,627		(1,318	)	(1,252	)
Realized gain (loss) on investments		(8,477,055	)	(421,355	)	(406,048	)	(505,252	)	(397,742	)	(21,349	)	(528,882	)	(90,339	)
Change in unrealized gain (loss) on investments		11,536,812		(11,677,741	)	1,298,460		(828,907	)	561,579		(533,333	)	842,176		(721,945	)
Reinvested capital gains		182,659		2,415,975		37,516		7,577		-		2,094		-		57,762
Net increase (decrease) in contract owners’ equity resulting from operations		3,281,680		(9,609,766	)	968,780		(1,289,459	)	163,837		(542,961	)	311,976		(755,774	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		480,946		837,423		48,189		56,676		38,424		138,819		128,971		101,816
Transfers between funds		(8,041,260	)	(1,868,595	)	23,956		2,466,371		(867,123	)	(65,723	)	169,724		(109,239	)
Surrenders (note 6)		(398,408	)	(1,781,243	)	(43,936	)	(35,429	)	(3,652	)	(24,804	)	(113,078	)	(31,777	)
Death benefits (note 4)		(21,709	)	(8,738	)	-		-		(2,977	)	(11,532	)	(663	)	(1,645	)
Net policy repayments (loans) (note 5)		42,842		(12,816	)	-		(21	)	(5,884	)	1,302		(7,919	)	(3,328	)
Deductions for surrender charges (note 2d)		(32,388	)	(42,668	)	-		-		(474	)	(2,907	)	(11,367	)	(3,025	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(352,221	)	(665,429	)	(45,605	)	(30,345	)	(21,295	)	(41,760	)	(47,203	)	(42,162	)
Asset charges (note 3):
FPVUL & VEL contracts		(17,253	)	(42,886	)	(311	)	-		(1,633	)	(3,872	)	(2,829	)	(2,992	)
MSP contracts		(454	)	(1,254	)	-		-		(34	)	(94	)	-		(1	)
SL contracts or LSFP contracts		(2,441	)	(7,616	)	-		-		(210	)	(531	)	(194	)	(488	)
Adjustments to maintain reserves		58		(450	)	25		134		47		(180	)	81		(233	)
Net equity transactions		(8,342,287	)	(3,594,272	)	(17,682	)	2,457,386		(864,811	)	(11,282	)	115,523		(93,074	)
Net change in contract owners’ equity		(5,060,607	)	(13,204,038	)	951,098		1,167,927		(700,974	)	(554,243	)	427,499		(848,848	)
Contract owners’ equity beginning of period		8,204,756		21,408,794		2,018,176		850,249		700,974		1,255,217		1,161,285		2,010,133
Contract owners’ equity end of period	$	3,144,149		8,204,756		2,969,274		2,018,176		-		700,974		1,588,784		1,161,285
CHANGES IN UNITS:
Beginning units		900,619		1,122,738		353,171		80,562		97,268		94,148		125,689		131,640
Units purchased		167,718		82,274		28,237		315,418		5,889		16,313		39,463		20,799
Units redeemed		(832,396	)	(304,393	)	(25,989	)	(42,809	)	(103,157	)	(13,193	)	(24,683	)	(26,750	)
Ending units		235,941		900,619		355,419		353,171		-		97,268		140,469		125,689

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	AMSRS					OVGR				OVGS3				OVGS
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	49,340		78,334		146,045		8,313		288,133		261,264		813,761		845,558
Realized gain (loss) on investments		(593,019	)	98,903		(2,935,835	)	4,568,473		(1,112,664	)	(289,295	)	(5,381,641	)	(965,153	)
Change in unrealized gain (loss) on investments		1,138,345		(2,095,483	)	31,182,105		(62,205,433	)	5,057,893		(9,114,516	)	17,448,044		(34,242,609	)
Reinvested capital gains		-		267,832		-		-		275,295		1,150,196		842,392		4,220,261
Net increase (decrease) in contract owners’ equity resulting from operations		594,666		(1,650,414	)	28,392,315		(57,628,647	)	4,508,657		(7,992,351	)	13,722,556		(30,141,943	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		207,791		309,947		5,012,399		7,344,776		2,218,664		2,684,561		1,219,956		2,401,717
Transfers between funds		(267,869	)	(435,771	)	(6,327,099	)	(310,762	)	(902,235	)	(2,059,065	)	(1,788,353	)	(5,865,197	)
Surrenders (note 6)		(493,708	)	(85,548	)	(6,494,378	)	(7,454,657	)	(1,036,224	)	(829,253	)	(1,726,010	)	(1,776,719	)
Death benefits (note 4)		-		(1,658	)	(233,092	)	(191,646	)	(47,241	)	(20,918	)	(35,757	)	(148,172	)
Net policy repayments (loans) (note 5)		(92,047	)	(81,048	)	958,751		(1,111,356	)	81,516		3,287		(273,864	)	(262,820	)
Deductions for surrender charges (note 2d)		(19,244	)	(7,506	)	(99,081	)	(162,619	)	(56,919	)	(55,150	)	(19,207	)	(35,786	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(144,198	)	(174,838	)	(3,201,673	)	(3,654,611	)	(801,297	)	(817,887	)	(1,100,453	)	(1,332,970	)
Asset charges (note 3):
FPVUL & VEL contracts		(7,779	)	(11,164	)	(125,697	)	(167,420	)	(48,340	)	(56,150	)	(34,173	)	(50,045	)
MSP contracts		(739	)	(1,448	)	(3,289	)	(4,585	)	(1,051	)	(1,449	)	(1,169	)	(1,529	)
SL contracts or LSFP contracts		(1,681	)	(2,360	)	(15,394	)	(22,589	)	(8,804	)	(10,451	)	(5,913	)	(9,177	)
Adjustments to maintain reserves		(631	)	(334	)	(485	)	5,396		114		(351	)	765		468
Net equity transactions		(820,106	)	(491,728	)	(10,529,039	)	(5,730,073	)	(601,817	)	(1,162,826	)	(3,764,178	)	(7,080,230	)
Net change in contract owners’ equity		(225,440	)	(2,142,142	)	17,863,276		(63,358,720	)	3,906,840		(9,155,177	)	9,958,378		(37,222,173	)
Contract owners’ equity beginning of period		2,514,513		4,656,655		69,378,533		132,737,253		11,649,501		20,804,678		38,670,134		75,892,307
Contract owners’ equity end of period	$	2,289,073		2,514,513		87,241,809		69,378,533		15,556,341		11,649,501		48,628,512		38,670,134
CHANGES IN UNITS:
Beginning units		226,546		254,068		8,886,911		9,062,720		1,290,636		1,378,496		4,095,071		4,806,202
Units purchased		18,302		26,402		655,964		1,590,721		229,006		252,195		269,410		500,377
Units redeemed		(87,928	)	(53,924	)	(1,765,488	)	(1,766,530	)	(285,924	)	(340,055	)	(673,767	)	(1,211,508	)
Ending units		156,920		226,546		7,777,387		8,886,911		1,233,718		1,290,636		3,690,714		4,095,071

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	OVHI3					OVHI				OVGI				OVSC
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	-		58,804		-		149,441		459,271		504,633		30,280		23,275
Realized gain (loss) on investments		(754,547	)	(159,257	)	(470,256	)	(166,191	)	(799,855	)	1,138,150		(494,419	)	(97,250	)
Change in unrealized gain (loss) on investments		976,180		(1,000,576	)	557,363		(1,660,237	)	6,382,896		(19,355,708	)	1,681,672		(2,212,248	)
Reinvested capital gains		-		-		-		-		-		2,237,977		-		258,437
Net increase (decrease) in contract owners’ equity resulting from operations		221,633		(1,101,029	)	87,107		(1,676,987	)	6,042,312		(15,474,948	)	1,217,533		(2,027,786	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		303,261		419,209		72		(387	)	2,179,467		3,363,400		454,245		450,600
Transfers between funds		100,991		341,131		(43,550	)	(379,904	)	(1,262,166	)	(4,055,339	)	142,242		(264,671	)
Surrenders (note 6)		(69,967	)	(49,336	)	(17,592	)	(66,422	)	(1,636,677	)	(1,730,646	)	(209,982	)	(307,661	)
Death benefits (note 4)		(3,770	)	(226	)	(409	)	(373	)	(63,001	)	(343,056	)	(311	)	(2,511	)
Net policy repayments (loans) (note 5)		22,959		10,055		(16,487	)	(26,706	)	(91,065	)	(378,172	)	(83,858	)	(1,699	)
Deductions for surrender charges (note 2d)		(4,267	)	(3,652	)	(2,244	)	(5,718	)	(85,697	)	(92,080	)	(8,407	)	(14,692	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(67,632	)	(64,943	)	(27,177	)	(94,620	)	(1,571,971	)	(1,757,515	)	(209,269	)	(213,561	)
Asset charges (note 3):
FPVUL & VEL contracts		(3,090	)	(4,006	)	(1,513	)	(7,083	)	(82,622	)	(109,256	)	(13,134	)	(15,918	)
MSP contracts		(61	)	(160	)	(68	)	(240	)	(2,675	)	(4,122	)	(240	)	(199	)
SL contracts or LSFP contracts		(628	)	(1,233	)	(218	)	(907	)	(10,206	)	(13,912	)	(2,664	)	(2,812	)
Adjustments to maintain reserves		28		(99	)	19		(245	)	151		159		(58	)	(374	)
Net equity transactions		277,824		646,740		(109,167	)	(582,605	)	(2,626,461	)	(5,120,539	)	68,564		(373,498	)
Net change in contract owners’ equity		499,457		(454,289	)	(22,060	)	(2,259,592	)	3,415,851		(20,595,487	)	1,286,097		(2,401,284	)
Contract owners’ equity beginning of period		484,221		938,510		429,509		2,689,101		23,251,715		43,847,202		3,073,867		5,475,151
Contract owners’ equity end of period	$	983,678		484,221		407,449		429,509		26,667,566		23,251,715		4,359,964		3,073,867
CHANGES IN UNITS:
Beginning units		237,435		97,144		147,777		197,334		2,576,774		3,011,778		239,034		264,706
Units purchased		226,067		162,432		8		5		292,365		310,596		44,998		33,710
Units redeemed		(82,963	)	(22,141	)	(35,918	)	(49,562	)	(556,886	)	(745,600	)	(36,908	)	(59,382	)
Ending units		380,539		237,435		111,867		147,777		2,312,253		2,576,774		247,124		239,034

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	OVAG					OVSB				PMVAAA				PMVFBA
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(12,026	)	(23,328	)	1,565		36,548		53,354		74,642		9,699		-
Realized gain (loss) on investments		(1,129,222	)	1,727,853		(81,767	)	(121,954	)	47,363		(563,102	)	81,133		-
Change in unrealized gain (loss) on investments		6,737,017		(21,121,810	)	313,267		(132,574	)	73,226		11,957		(19,563	)	-
Reinvested capital gains		-		-		622		8,893		-		1,935		9,479		-
Net increase (decrease) in contract owners’ equity resulting from operations		5,595,769		(19,417,285	)	233,687		(209,087	)	173,943		(474,568	)	80,748		-
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		2,281,640		3,038,005		60,260		(623	)	54,772		70,000		30,965		-
Transfers between funds		(998,486	)	(5,705,434	)	498,766		1,191,878		86,878		(972,523	)	569,719		-
Surrenders (note 6)		(1,698,953	)	(2,170,737	)	-		-		(30,321	)	(22,724	)	(1,511	)	-
Death benefits (note 4)		(27,597	)	(102,026	)	(4,655	)	-		(1,831	)	(204	)	(6,469	)	-
Net policy repayments (loans) (note 5)		89,593		(106,937	)	-		-		2,567		(3,240	)	(11,451	)	-
Deductions for surrender charges (note 2d)		(44,870	)	(77,260	)	-		-		-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(1,343,048	)	(1,671,852	)	(11,502	)	(9,149	)	(18,658	)	(29,399	)	(22,331	)	-
Asset charges (note 3):
FPVUL & VEL contracts		(62,798	)	(91,808	)	-		-		(39	)	-		(1,688	)	-
MSP contracts		(1,009	)	(1,693	)	-		-		-		-		(6	)	-
SL contracts or LSFP contracts		(5,411	)	(9,105	)	-		-		-		-		(138	)	-
Adjustments to maintain reserves		171		581		13		(30	)	43		(400	)	(118	)	-
Net equity transactions		(1,810,767	)	(6,898,266	)	542,882		1,182,076		93,411		(958,490	)	556,973		-
Net change in contract owners’ equity		3,785,002		(26,315,551	)	776,569		972,989		267,354		(1,433,058	)	637,721		-
Contract owners’ equity beginning of period		19,253,109		45,568,660		972,989		-		596,235		2,029,293		-		-
Contract owners’ equity end of period	$	23,038,111		19,253,109		1,749,558		972,989		863,589		596,235		637,721		-
CHANGES IN UNITS:
Beginning units		2,739,147		3,363,248		114,461		-		52,891		151,384		-		-
Units purchased		298,331		291,129		60,896		115,419		16,170		11,263		61,891		-
Units redeemed		(577,089	)	(915,230	)	(1,794	)	(958	)	(5,989	)	(109,756	)	(4,096	)	-
Ending units		2,460,389		2,739,147		173,563		114,461		63,072		52,891		57,795		-

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	PMVLDA					PMVRRA				PMVTRA				PIVEMI
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	1,401,981		1,728,311		1,939,994		2,059,317		10,160,514		7,218,261		7,824		148
Realized gain (loss) on investments		(157,572	)	(419,197	)	(68,919	)	(2,023,389	)	2,719,493		354,992		85,798		(56,494	)
Change in unrealized gain (loss) on investments		1,291,678		(2,328,192	)	6,383,343		(5,605,641	)	6,413,613		(3,481,322	)	380,336		(17,307	)
Reinvested capital gains		2,576,351		711,450		2,826,272		93,651		6,877,332		3,186,763		-		11,846
Net increase (decrease) in contract owners’ equity resulting from operations		5,112,438		(307,628	)	11,080,690		(5,476,062	)	26,170,952		7,278,694		473,958		(61,807	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		2,234,772		1,692,096		3,726,517		3,887,102		10,285,511		8,598,401		114,246		74,918
Transfers between funds		16,938,777		(9,059,553	)	4,070,896		11,568,776		42,752,222		7,194,947		618,567		136,504
Surrenders (note 6)		(2,689,673	)	(1,479,864	)	(2,559,305	)	(2,661,467	)	(16,959,592	)	(7,588,144	)	(6,359	)	-
Death benefits (note 4)		(95,366	)	(49,806	)	(91,743	)	(104,005	)	(1,576,032	)	(105,782	)	-		-
Net policy repayments (loans) (note 5)		(145,433	)	(1,047,811	)	467,799		(166,404	)	1,083,860		(98,628	)	(906	)	-
Deductions for surrender charges (note 2d)		-		-		-		-		-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(744,922	)	(633,058	)	(1,116,672	)	(835,606	)	(3,915,290	)	(2,703,684	)	(29,556	)	(3,279	)
Asset charges (note 3):
FPVUL & VEL contracts		(4,014	)	-		(119	)	-		(3,877	)	-		(199	)	-
MSP contracts		(168	)	-		-		-		-		-		-		-
SL contracts or LSFP contracts		(771	)	-		-		-		-		-		-		-
Adjustments to maintain reserves		(4,228	)	(12,472	)	(8,485	)	1,190		(31,128	)	(77,076	)	(1	)	(15	)
Net equity transactions		15,488,974		(10,590,468	)	4,488,888		11,689,586		31,635,674		5,220,034		695,792		208,128
Net change in contract owners’ equity		20,601,412		(10,898,096	)	15,569,578		6,213,524		57,806,626		12,498,728		1,169,750		146,321
Contract owners’ equity beginning of period		36,778,910		47,677,006		59,874,205		53,660,681		170,153,203		157,654,475		146,321		-
Contract owners’ equity end of period	$	57,380,322		36,778,910		75,443,783		59,874,205		227,959,829		170,153,203		1,316,071		146,321
CHANGES IN UNITS:
Beginning units		3,127,979		4,028,120		4,682,086		3,896,610		12,508,618		12,123,210		33,546		-
Units purchased		1,606,797		233,784		1,216,812		1,726,978		3,688,960		3,703,813		146,604		34,037
Units redeemed		(423,277	)	(1,133,925	)	(912,644	)	(941,502	)	(1,474,597	)	(3,318,405	)	(7,146	)	(491	)
Ending units		4,311,499		3,127,979		4,986,254		4,682,086		14,722,981		12,508,618		173,004		33,546

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	PIHYB1					PVGIB				PVTIGB				PVTSCB
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	1,158,417		1,197,941		17,919		16,107		-		47,275		39		-
Realized gain (loss) on investments		(2,909,377	)	(963,927	)	(138,463	)	(108,274	)	(426,118	)	(277,605	)	452		(5	)
Change in unrealized gain (loss) on investments		8,661,414		(6,240,402	)	299,375		(415,966	)	715,663		(1,264,839	)	756		(185	)
Reinvested capital gains		-		144,329		-		138,494		-		363,224		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		6,910,454		(5,862,059	)	178,831		(369,639	)	289,545		(1,131,945	)	1,247		(190	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		440,744		343,967		93,820		152,107		101,596		826,228		120		978
Transfers between funds		(360,962	)	1,587,756		(38,269	)	(96,968	)	(109,102	)	(427,634	)	2,180		(307	)
Surrenders (note 6)		(598,060	)	(400,493	)	(74,009	)	(27,526	)	(194,029	)	(955,027	)	-		-
Death benefits (note 4)		(58,486	)	(21,596	)	-		-		(1,238	)	(963	)	-		-
Net policy repayments (loans) (note 5)		19,307		(24,303	)	23,772		(2,247	)	(21,438	)	(2,074	)	-		-
Deductions for surrender charges (note 2d)		-		-		(4,235	)	(6,914	)	(8,810	)	(6,331	)	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(244,445	)	(191,582	)	(49,122	)	(57,215	)	(68,256	)	(85,874	)	(137	)	(128	)
Asset charges (note 3):
FPVUL & VEL contracts		(135	)	-		(2,773	)	(3,453	)	(4,147	)	(6,457	)	-		-
MSP contracts		-		-		(23	)	(29	)	(134	)	(208	)	-		-
SL contracts or LSFP contracts		-		-		(244	)	(282	)	(423	)	(710	)	-		-
Adjustments to maintain reserves		969		805		41		(161	)	62		(231	)	2		(3	)
Net equity transactions		(801,068	)	1,294,554		(51,041	)	(42,688	)	(305,919	)	(659,281	)	2,165		540
Net change in contract owners’ equity		6,109,386		(4,567,505	)	127,790		(412,327	)	(16,374	)	(1,791,226	)	3,412		350
Contract owners’ equity beginning of period		12,354,601		16,922,106		619,088		1,031,415		1,272,815		3,064,041		350		-
Contract owners’ equity end of period	$	18,463,987		12,354,601		746,878		619,088		1,256,441		1,272,815		3,762		350
CHANGES IN UNITS:
Beginning units		1,112,104		982,886		63,826		65,188		98,334		132,680		65		-
Units purchased		221,563		310,809		9,538		9,737		6,093		8,842		495		126
Units redeemed		(295,533	)	(181,591	)	(14,047	)	(11,099	)	(26,544	)	(43,188	)	(28	)	(61	)
Ending units		1,038,134		1,112,104		59,317		63,826		77,883		98,334		532		65

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	PVVIB				PVTVB				VKVGR2				ROCMC
	2009			2008	2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(142	)	-	5,777		-		(1,279	)	16,204		(73,599	)	947,726
Realized gain (loss) on investments		3,470		-	7,386		(1,958	)	(61,518	)	(245,402	)	(8,656,246	)	(4,937,527	)
Change in unrealized gain (loss) on investments		30,219		-	398,764		(127,926	)	306,866		(97,237	)	24,040,908		(22,022,108	)
Reinvested capital gains		-		-	-		-		-		40,355		-		4,399,048
Net increase (decrease) in contract owners’ equity resulting from operations		33,547		-	411,927		(129,884	)	244,069		(286,080	)	15,311,063		(21,612,861	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		(2,876	)	-	78,972		59,978		116,161		72,581		1,561,059		2,812,562
Transfers between funds		63,395		-	438,777		186,570		(29,428	)	784,940		(1,815,279	)	(4,277,856	)
Surrenders (note 6)		-		-	(39,574	)	(6,633	)	(34,126	)	(72,650	)	(1,752,898	)	(4,724,452	)
Death benefits (note 4)		(226	)	-	-		-		(3,820	)	-		(544,550	)	(71,800	)
Net policy repayments (loans) (note 5)		-		-	7,212		(6,164	)	(7,402	)	-		759,368		(73,410	)
Deductions for surrender charges (note 2d)		-		-	(3,660	)	(2,842	)	-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(646	)	-	(45,182	)	(29,124	)	(22,515	)	(13,354	)	(539,587	)	(630,156	)
Asset charges (note 3):
FPVUL & VEL contracts		-		-	(2,343	)	(1,707	)	(149	)	-		(283	)	-
MSP contracts		-		-	(65	)	(6	)	-		-		-		-
SL contracts or LSFP contracts		-		-	(1,924	)	(327	)	-		-		-		-
Adjustments to maintain reserves		(1,102	)	-	54		(108	)	11		(115	)	(318	)	(3,199	)
Net equity transactions		58,545		-	432,266		199,637		18,732		771,402		(2,332,488	)	(6,968,311	)
Net change in contract owners’ equity		92,092		-	844,193		69,753		262,801		485,322		12,978,575		(28,581,172	)
Contract owners’ equity beginning of period		-		-	505,158		435,405		485,322		-		26,361,455		54,942,627
Contract owners’ equity end of period	$	92,092		-	1,349,351		505,158		748,123		485,322		39,340,030		26,361,455
CHANGES IN UNITS:
Beginning units		-		-	54,796		29,740		99,311		-		1,954,973		2,306,592
Units purchased		7,139		-	42,015		32,166		35,801		114,455		181,540		315,681
Units redeemed		(472	)	-	(7,505	)	(7,110	)	(26,622	)	(15,144	)	(288,653	)	(667,300	)
Ending units		6,667		-	89,306		54,796		108,490		99,311		1,847,860		1,954,973

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	ROCSC					TRBCG2				TREI2				TRHS2
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(456	)	436		(752	)	3,046		940,663		1,539,466		(2,633	)	(2,656	)
Realized gain (loss) on investments		(26,692	)	(27,914	)	(358,102	)	(59,502	)	(12,130,552	)	(6,172,572	)	(185,395	)	(144,836	)
Change in unrealized gain (loss) on investments		102,125		(27,164	)	1,319,164		(1,474,808	)	25,683,362		(31,210,378	)	545,834		(376,879	)
Reinvested capital gains		-		9,209		-		-		-		2,480,253		-		15,673
Net increase (decrease) in contract owners’ equity resulting from operations		74,977		(45,433	)	960,310		(1,531,264	)	14,493,473		(33,363,231	)	357,806		(508,698	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		67		(438	)	198,132		299,965		2,952,172		4,232,449		101,670		5,594
Transfers between funds		115,780		135,434		(7,519	)	1,147,780		242,104		(6,218,723	)	(146,376	)	1,786,033
Surrenders (note 6)		-		-		(144,897	)	(344,940	)	(3,799,863	)	(2,795,104	)	-		-
Death benefits (note 4)		(758	)	-		(16,169	)	(1,351	)	(118,457	)	(167,243	)	(5,293	)	-
Net policy repayments (loans) (note 5)		-		-		(23,045	)	(12,096	)	50,167		(658,239	)	-		-
Deductions for surrender charges (note 2d)		-		-		(4,703	)	(5,842	)	(7,785	)	(7,186	)	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(2,018	)	(1,358	)	(120,428	)	(119,958	)	(1,287,230	)	(1,347,179	)	(12,381	)	(12,928	)
Asset charges (note 3):
FPVUL & VEL contracts		-		-		(6,579	)	(7,845	)	(13,758	)	(14,872	)	-		-
MSP contracts		-		-		(368	)	(532	)	(771	)	(983	)	-		-
SL contracts or LSFP contracts		-		-		(2,911	)	(1,777	)	(2,135	)	(2,366	)	-		-
Adjustments to maintain reserves		3		(13	)	(103	)	(220	)	(3,059	)	(70,718	)	13		(44	)
Net equity transactions		113,074		133,625		(128,590	)	953,184		(1,988,616	)	(7,050,164	)	(62,367	)	1,778,655
Net change in contract owners’ equity		188,051		88,192		831,720		(578,080	)	12,504,857		(40,413,395	)	295,439		1,269,957
Contract owners’ equity beginning of period		88,192		-		2,384,405		2,962,485		58,759,665		99,173,060		1,269,957		-
Contract owners’ equity end of period	$	276,243		88,192		3,216,125		2,384,405		71,264,522		58,759,665		1,565,396		1,269,957
CHANGES IN UNITS:
Beginning units		12,038		-		298,969		212,892		5,076,907		5,451,242		178,625		-
Units purchased		16,265		12,179		35,680		128,729		515,424		626,301		14,108		180,138
Units redeemed		(356	)	(141	)	(50,077	)	(42,652	)	(670,718	)	(1,000,636	)	(24,761	)	(1,513	)
Ending units		27,947		12,038		284,572		298,969		4,921,613		5,076,907		167,972		178,625

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	TRLT2					TRMCG2				TRNAG1				TRPSB1
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	55,596		59,606		(39,987	)	(51,496	)	(26,319	)	(35,943	)	7,974		11,390
Realized gain (loss) on investments		67,765		2,698		(4,004,691	)	(2,479,227	)	(1,964,836	)	(1,376,218	)	(95,706	)	(66,200	)
Change in unrealized gain (loss) on investments		35,191		(49,239	)	10,715,898		(9,104,416	)	6,203,128		(3,452,913	)	185,158		(106,121	)
Reinvested capital gains		-		-		20,964		1,211,901		-		491,458		-		2,733
Net increase (decrease) in contract owners’ equity resulting from operations		158,552		13,065		6,692,184		(10,423,238	)	4,211,973		(4,373,616	)	97,426		(158,198	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		148,224		112,013		677,001		925,312		829,411		1,106,652		81,170		73,353
Transfers between funds		(2,106,612	)	919,477		(969,185	)	(1,414,889	)	1,877,527		(2,709,368	)	(67,394	)	606,784
Surrenders (note 6)		(107,960	)	(11,282	)	(583,311	)	(361,231	)	(982,155	)	(347,867	)	(61,621	)	(144,521	)
Death benefits (note 4)		-		(777	)	(32,255	)	(35,088	)	(9,030	)	(645	)	(1,971	)	-
Net policy repayments (loans) (note 5)		(16,473	)	(48,259	)	15,601		(566,879	)	30,857		(121,973	)	-		-
Deductions for surrender charges (note 2d)		(793	)	(255	)	-		-		-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(66,353	)	(60,809	)	(260,321	)	(273,589	)	(233,956	)	(190,490	)	(14,220	)	(20,264	)
Asset charges (note 3):
FPVUL & VEL contracts		(4,778	)	(3,616	)	-		-		(305	)	-		(70	)	-
MSP contracts		(480	)	(651	)	-		-		-		-		-		-
SL contracts or LSFP contracts		(1,306	)	(1,485	)	-		-		-		-		-		-
Adjustments to maintain reserves		270		(177	)	64		(241	)	31		12,991		(261	)	(2,376	)
Net equity transactions		(2,156,260	)	904,179		(1,152,406	)	(1,726,605	)	1,512,380		(2,250,700	)	(64,367	)	512,976
Net change in contract owners’ equity		(1,997,708	)	917,244		5,539,778		(12,149,843	)	5,724,353		(6,624,316	)	33,059		354,778
Contract owners’ equity beginning of period		1,997,708		1,080,464		15,281,728		27,431,571		7,775,544		14,399,860		420,618		65,840
Contract owners’ equity end of period	$	-		1,997,708		20,821,506		15,281,728		13,499,897		7,775,544		453,677		420,618
CHANGES IN UNITS:
Beginning units		177,875		97,460		1,081,279		1,163,522		925,249		1,054,646		55,304		6,060
Units purchased		8,132		92,195		51,631		106,871		302,701		215,604		20,259		66,190
Units redeemed		(186,007	)	(11,780	)	(117,016	)	(189,114	)	(157,018	)	(345,001	)	(30,288	)	(16,946	)
Ending units		-		177,875		1,015,894		1,081,279		1,070,932		925,249		45,275		55,304

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	VWEM					VWHA				VVB				VVDV
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	10,849		(14,781	)	27,884		54,218		54,460		(1,229	)	44,866		(1,565	)
Realized gain (loss) on investments		(8,929,462	)	(4,526,521	)	(5,731,591	)	(622,236	)	(179,323	)	(109,374	)	(201,304	)	(89,099	)
Change in unrealized gain (loss) on investments		17,730,793		(23,938,240	)	15,745,952		(21,816,757	)	373,050		(135,377	)	479,742		(387,618	)
Reinvested capital gains		831,487		10,596,053		109,163		4,885,678		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		9,643,667		(17,883,489	)	10,151,408		(17,499,097	)	248,187		(245,980	)	323,304		(478,282	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		1,448,691		2,007,668		1,953,824		1,902,431		133,418		(4,174	)	73,249		(4,204	)
Transfers between funds		791,663		(4,372,528	)	3,007,379		2,478,714		91,677		1,179,310		241,922		1,501,460
Surrenders (note 6)		(1,024,271	)	(768,579	)	(1,391,062	)	(2,488,620	)	-		-		-		-
Death benefits (note 4)		(19,839	)	(92,205	)	(92,143	)	(38,385	)	(4,406	)	-		(4,664	)	-
Net policy repayments (loans) (note 5)		(2,966	)	(447,465	)	(265,454	)	(214,120	)	-		-		-		-
Deductions for surrender charges (note 2d)		(12,153	)	(18,433	)	(12,404	)	(21,877	)	-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(519,527	)	(598,991	)	(639,955	)	(749,021	)	(11,497	)	(5,305	)	(11,431	)	(6,894	)
Asset charges (note 3):
FPVUL & VEL contracts		(28,613	)	(41,362	)	(27,663	)	(42,083	)	-		-		-		-
MSP contracts		(498	)	(669	)	(759	)	(1,151	)	-		-		-		-
SL contracts or LSFP contracts		(3,977	)	(4,921	)	(4,360	)	(7,456	)	-		-		-		-
Adjustments to maintain reserves		(7,307	)	7,501		2,162		4,091		17		(18	)	14		(19	)
Net equity transactions		621,202		(4,329,984	)	2,529,565		822,523		209,209		1,169,813		299,090		1,490,343
Net change in contract owners’ equity		10,264,869		(22,213,473	)	12,680,973		(16,676,574	)	457,396		923,833		622,394		1,012,061
Contract owners’ equity beginning of period		8,724,410		30,937,883		17,689,833		34,366,407		923,833		-		1,012,061		-
Contract owners’ equity end of period	$	18,989,279		8,724,410		30,370,806		17,689,833		1,381,229		923,833		1,634,455		1,012,061
CHANGES IN UNITS:
Beginning units		618,949		783,472		741,155		774,780		119,040		-		156,479		-
Units purchased		152,569		90,758		181,584		138,968		38,459		119,655		45,488		157,366
Units redeemed		(146,659	)	(255,281	)	(133,422	)	(172,593	)	(12,385	)	(615	)	(2,450	)	(887	)
Ending units		624,859		618,949		789,317		741,155		145,114		119,040		199,517		156,479

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	VVI					VVMCI				VVSTC				WRASP
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	91,329		(3,937	)	35,587		(3,403	)	100,837		(2,912	)	121		1,774
Realized gain (loss) on investments		(570,258	)	(532,712	)	(588,270	)	(360,620	)	(4,977	)	(52,078	)	(24,263	)	(14,830	)
Change in unrealized gain (loss) on investments		1,513,119		(1,233,518	)	1,336,235		(898,879	)	246,123		(73,797	)	330,887		(89,911	)
Reinvested capital gains		-		-		101,879		-		12,942		-		62,302		33,568
Net increase (decrease) in contract owners’ equity resulting from operations		1,034,190		(1,770,167	)	885,431		(1,262,902	)	354,925		(128,787	)	369,047		(69,399	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		158,175		(23,058	)	84,263		(10,909	)	50,280		1,416		339,871		25,757
Transfers between funds		375,772		3,961,815		342,626		3,232,018		751,457		2,474,769		3,589,076		441,048
Surrenders (note 6)		-		-		-		-		-		-		(31,207	)	(133	)
Death benefits (note 4)		(10,563	)	-		(9,499	)	-		(10,339	)	-		(4,323	)	-
Net policy repayments (loans) (note 5)		-		-		-		-		-		-		(15,738	)	(2,079	)
Deductions for surrender charges (note 2d)		-		-		-		-		-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(25,633	)	(17,240	)	(23,326	)	(14,818	)	(27,225	)	(13,426	)	(81,751	)	(5,092	)
Asset charges (note 3):
FPVUL & VEL contracts		-		-		-		-		-		-		(2,577	)	-
MSP contracts		-		-		-		-		-		-		(94	)	-
SL contracts or LSFP contracts		-		-		-		-		-		-		(441	)	-
Adjustments to maintain reserves		23		(36	)	4		(28	)	(7	)	(6	)	10		(149	)
Net equity transactions		497,774		3,921,481		394,068		3,206,263		764,166		2,462,753		3,792,826		459,352
Net change in contract owners’ equity		1,531,964		2,151,314		1,279,499		1,943,361		1,119,091		2,333,966		4,161,873		389,953
Contract owners’ equity beginning of period		2,151,314		-		1,943,361		-		2,333,966		-		389,953		-
Contract owners’ equity end of period	$	3,683,278		2,151,314		3,222,860		1,943,361		3,453,057		2,333,966		4,551,826		389,953
CHANGES IN UNITS:
Beginning units		388,890		-		329,815		-		243,364		-		46,516		-
Units purchased		91,459		391,257		65,829		331,699		77,198		244,739		400,426		47,251
Units redeemed		(13,067	)	(2,367	)	(5,182	)	(1,884	)	(3,677	)	(1,375	)	(13,012	)	(735	)
Ending units		467,282		388,890		390,462		329,815		316,885		243,364		433,930		46,516

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	WRGP					WRRESP				WRSTP				SVDF
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	1,688		(626	)	13,826		1,837		(1,918	)	(837	)	(807	)	(266	)
Realized gain (loss) on investments		(133,903	)	(36,095	)	(16,435	)	(81,141	)	(56,620	)	(46,103	)	(104,336	)	(30,313	)
Change in unrealized gain (loss) on investments		323,926		(167,825	)	261,570		(66,352	)	302,917		(187,296	)	487,368		(195,789	)
Reinvested capital gains		22,732		8,776		-		6,363		45,120		24,938		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		214,443		(195,770	)	258,961		(139,293	)	289,499		(209,298	)	382,225		(226,368	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		56,691		5,435		25,094		7,209		39,226		72,014		616,594		615,569
Transfers between funds		77,182		587,958		373,198		249,341		81,080		806,472		(48,986	)	581,802
Surrenders (note 6)		(14,299	)	(196	)	(10,285	)	(8,175	)	(10,983	)	(53	)	-		-
Death benefits (note 4)		(4,802	)	-		(440	)	-		(1,273	)	-		-		-
Net policy repayments (loans) (note 5)		(879	)	-		(7,017	)	-		(2,344	)	(527	)	-		-
Deductions for surrender charges (note 2d)		-		-		-		-		-		-		-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(13,598	)	(5,434	)	(17,149	)	(4,992	)	(18,408	)	(8,362	)	(38,767	)	(11,578	)
Asset charges (note 3):
FPVUL & VEL contracts		(107	)	-		(51	)	-		(62	)	-		(1,758	)	-
MSP contracts		-		-		-		-		-		-		-		-
SL contracts or LSFP contracts		-		-		-		-		-		-		-		-
Adjustments to maintain reserves		27		5,695		20		(152	)	19		(79	)	20		(385	)
Net equity transactions		100,215		593,458		363,370		243,231		87,255		869,465		527,103		1,185,408
Net change in contract owners’ equity		314,658		397,688		622,331		103,938		376,754		660,167		909,328		959,040
Contract owners’ equity beginning of period		634,171		236,483		255,376		151,438		664,731		4,564		959,040		-
Contract owners’ equity end of period	$	948,829		634,171		877,707		255,376		1,041,485		664,731		1,868,368		959,040
CHANGES IN UNITS:
Beginning units		64,648		15,662		31,929		12,120		98,930		448		175,360		-
Units purchased		29,205		49,475		70,388		22,910		14,731		99,627		83,123		177,334
Units redeemed		(17,786	)	(489	)	(13,272	)	(3,101	)	(5,647	)	(1,145	)	(14,924	)	(1,974	)
Ending units		76,067		64,648		89,045		31,929		108,014		98,930		243,559		175,360

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	SVOF					WFVSCG				OGMVP				WIEP
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	(13,388	)	388,022		(4,336	)	(1,482	)	3,283		2,450		4,120		31,916
Realized gain (loss) on investments		(8,660,730	)	(955,001	)	(191,163	)	(236,374	)	(193,176	)	(3,630	)	93,379		103,019
Change in unrealized gain (loss) on investments		13,914,162		(13,787,129	)	1,103,171		(329,646	)	185,593		(115,404	)	52,379		(1,064,586	)
Reinvested capital gains		-		4,767,838		-		195,059		-		41,787		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		5,240,044		(9,586,270	)	907,672		(372,443	)	(4,300	)	(74,797	)	149,878		(929,651	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		564,750		1,218,192		146,510		28,552		4		(7	)	60,794		93,414
Transfers between funds		(10,519,279	)	(2,983,915	)	2,020,761		1,088,648		(129,708	)	67		(1,259,905	)	(139,771	)
Surrenders (note 6)		(285,874	)	(873,707	)	(35,852	)	-		-		-		(48,578	)	(94,130	)
Death benefits (note 4)		(11,958	)	(22,889	)	(1,254	)	-		(70	)	(127	)	(3,223	)	(33,988	)
Net policy repayments (loans) (note 5)		(11,707	)	(48,236	)	48		-		-		-		9,172		(6,551	)
Deductions for surrender charges (note 2d)		(19,294	)	(56,570	)	-		-		-		-		-		(212	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(473,961	)	(745,101	)	(56,397	)	(11,689	)	(637	)	(1,727	)	(38,406	)	(73,440	)
Asset charges (note 3):
FPVUL & VEL contracts		(20,486	)	(45,030	)	(1,097	)	-		-		-		(2,429	)	(5,754	)
MSP contracts		(466	)	(1,029	)	(60	)	-		-		-		(218	)	(542	)
SL contracts or LSFP contracts		(3,725	)	(8,489	)	(243	)	-		-		-		(232	)	(1,646	)
Adjustments to maintain reserves		92		(450	)	9		751		14		(28	)	36		(302	)
Net equity transactions		(10,781,909	)	(3,567,224	)	2,072,425		1,106,262		(130,397	)	(1,822	)	(1,282,989	)	(262,922	)
Net change in contract owners’ equity		(5,541,865	)	(13,153,494	)	2,980,097		733,819		(134,697	)	(76,619	)	(1,133,111	)	(1,192,573	)
Contract owners’ equity beginning of period		13,859,973		27,013,467		733,819		-		134,697		211,316		1,134,351		2,326,924
Contract owners’ equity end of period	$	8,318,108		13,859,973		3,713,916		733,819		-		134,697		1,240		1,134,351
CHANGES IN UNITS:
Beginning units		1,600,488		1,866,960		130,587		-		10,719		10,832		105,435		127,440
Units purchased		113,035		108,819		313,709		138,794		6		1		4,315		5,441
Units redeemed		(1,055,324	)	(375,291	)	(10,971	)	(8,207	)	(10,725	)	(114	)	(109,657	)	(27,446	)
Ending units		658,199		1,600,488		433,325		130,587		-		10,719		93		105,435

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	WVCP					BF				SGRF				PVOEGB
	2009			2008		2009		2008		2009		2008		2009		2008
Investment activity:
Net investment income (loss)	$	6,746		8,140		94,608		383,052		(406	)	(2,953	)	(16	)	(101	)
Realized gain (loss) on investments		(125,903	)	15,559		(4,616,970	)	(61,898	)	(3,918,506	)	413,441		(6,492	)	(17,966	)
Change in unrealized gain (loss) on investments		196,067		(292,705	)	4,327,370		(6,090,269	)	4,212,112		(7,610,626	)	7,288		(7,288	)
Reinvested capital gains		-		-		-		1,615,670		-		-		-		-
Net increase (decrease) in contract owners’ equity resulting from operations		76,910		(269,006	)	(194,992	)	(4,153,445	)	293,200		(7,200,138	)	780		(25,355	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		27,857		32,466		336,393		1,052,975		331,413		1,115,813		158		8
Transfers between funds		(353,737	)	(51,855	)	(10,323,170	)	(1,782,086	)	(8,103,398	)	(1,251,125	)	(35,513	)	60,750
Surrenders (note 6)		(36,911	)	(21,312	)	(207,622	)	(1,076,197	)	(265,724	)	(1,098,547	)	-		-
Death benefits (note 4)		-		(1,092	)	(19,918	)	(205,108	)	(21,835	)	(72,248	)	(48	)	-
Net policy repayments (loans) (note 5)		16,372		(405	)	87,760		(19,186	)	39,812		(269,843	)	-		-
Deductions for surrender charges (note 2d)		-		(373	)	(6,951	)	(16,932	)	(12,947	)	(35,685	)	-		-
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(17,632	)	(21,975	)	(233,203	)	(669,162	)	(203,602	)	(724,726	)	(293	)	(496	)
Asset charges (note 3):
FPVUL & VEL contracts		(1,171	)	(1,809	)	(8,864	)	(35,434	)	(8,583	)	(41,647	)	-		-
MSP contracts		(8	)	(11	)	(312	)	(1,427	)	(216	)	(1,178	)	-		-
SL contracts or LSFP contracts		(10	)	(34	)	(1,832	)	(8,243	)	(1,184	)	(6,027	)	-		-
Adjustments to maintain reserves		(3,937	)	(115	)	45,482		535		7,252		(361	)	16		(7	)
Net equity transactions		(369,176	)	(66,515	)	(10,332,238	)	(2,760,265	)	(8,239,012	)	(2,385,574	)	(35,680	)	60,255
Net change in contract owners’ equity		(292,266	)	(335,521	)	(10,527,230	)	(6,913,710	)	(7,945,812	)	(9,585,712	)	(34,900	)	34,900
Contract owners’ equity beginning of period		292,469		627,990		10,527,230		17,440,940		7,945,812		17,531,524		34,900		-
Contract owners’ equity end of period	$	203		292,469		-		10,527,230		-		7,945,812		-		34,900
CHANGES IN UNITS:
Beginning units		39,119		44,824		1,018,519		1,263,008		930,055		1,115,074		6,380		-
Units purchased		3,509		3,054		293,304		100,580		36,753		130,643		6,302		6,441
Units redeemed		(42,608	)	(8,759	)	(1,311,823	)	(345,069	)	(966,808	)	(315,662	)	(12,682	)	(61	)
Ending units		20		39,119		-		1,018,519		-		930,055		-		6,380

(Continued)

Nationwide VLI Separate Account-4

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2009 and 2008

	WGIP
	2009			2008
Investment activity:
Net investment income (loss)	$	67,002		39,235
Realized gain (loss) on investments		(525,886	)	(69,942	)
Change in unrealized gain (loss) on investments		664,850		(661,518	)
Reinvested capital gains		-		125,539
Net increase (decrease) in contract owners’ equity resulting from operations		205,966		(566,686	)
Equity transactions:
Purchase payments received from contract owners (notes 2a and 6)		326,528		89,615
Transfers between funds		(1,151,660	)	(29,496	)
Surrenders (note 6)		(11,879	)	(72,339	)
Death benefits (note 4)		(657	)	(22,535	)
Net policy repayments (loans) (note 5)		(8,264	)	(30,028	)
Deductions for surrender charges (note 2d)		(1,052	)	(696	)
Redemptions to pay cost of insurance charges and administration charges (notes 2b and 2c)		(46,279	)	(55,773	)
Asset charges (note 3):
FPVUL & VEL contracts		(2,382	)	(3,899	)
MSP contracts		(64	)	(131	)
SL contracts or LSFP contracts		(740	)	(1,343	)
Adjustments to maintain reserves		(277,596	)	(115	)
Net equity transactions		(1,174,045	)	(126,740	)
Net change in contract owners’ equity		(968,079	)	(693,426	)
Contract owners’ equity beginning of period		968,079		1,661,505
Contract owners’ equity end of period	$	-		968,079
CHANGES IN UNITS:
Beginning units		83,554		90,762
Units purchased		5,160		18,196
Units redeemed		(88,714	)	(25,404	)
Ending units		-		83,554

See accompanying notes to financial statements.

NATIONWIDE VLI SEPARATE ACCOUNT-4

NOTES TO FINANCIAL STATEMENTS

December 31, 2009 and 2008

(1) Background and Summary of Significant Accounting Policies

(a) Organization and Nature of Operations

The Nationwide VLI Separate Account-4 (the Account) was established pursuant to a resolution of the Board of Directors of Nationwide Life Insurance Company (the Company) on December 3, 1997. The Account is registered as a unit investment trust under the Investment Company Act of 1940. The Company offers Flexible Premium, Modified Single Premium, Variable Executive Life and Survivorship Life Variable Life Insurance Policies through the Account. The primary distribution for contracts is through wholesalers and brokers.

(b) The Contracts

Only contracts with a front-end sales charge and certain other fees are offered for purchase. See note 2 for a discussion of policy charges and note 3 for asset charges.

With certain exceptions, contract owners may invest in the following:

AMERICAN FUNDS GROUP (THE)

Asset Allocation Fund - Class 2 (AMVAA2)

Bond Fund - Class 2 (AMVBD2)

Global Small Capitalization Fund - Class 2 (AMVGS2)

Growth Fund - Class 2 (AMVGR2)

BLACKROCK FUNDS

Large Cap Core V.I. Fund - Class II (MLVLC2)

Variable Series Funds, Inc. - Global Allocation V.I. Fund - Class II (MLVGA2)

CALVERT FUNDS

Variable Series, Inc. - Social Equity Portfolio (CVSSE)

CREDIT SUISSE ASSET MANAGEMENT

Credit Suisse Trust - International Equity Flex III Portfolio (CSIEF3)

U.S. Equity Flex I Portfolio (WSCP)

DAVIS FUNDS

Variable Account Fund, Inc. - Value Portfolio (DAVVL)

FIDELITY INVESTMENTS

VIP Fund - VIP Freedom Fund 2015 Portfolio - Service Class 2 (FF15S2)*

VIP Fund - VIP Freedom Fund 2025 Portfolio - Service Class 2 (FF25S2)*

J.P. MORGAN INVESTMENT MANAGEMENT INC.

Insurance Trust - Insurance Trust Diversified Mid Cap Growth Portfolio 1 (OGGO)

Insurance Trust - Insurance Trust Mid Cap Value Portfolio 1 (JPMMV1)

JPMorgan Insurance Trust Balanced Portfolio 1 (OGAA)*

JPMorgan Insurance Trust Core Bond Portfolio 1 (OGBDP)*

JPMorgan Insurance Trust Equity Index Portfolio 1 (OGEI)*

JPMorgan Insurance Trust Intrepid Growth Portfolio - Class 1 (OGLG)*

JPMorgan Insurance Trust Intrepid Mid Cap Portfolio 1 (OGDMP)*

JPMorgan Insurance Trust U.S. Equity Portfolio 1 (OGDEP)*

JANUS FUNDS

Janus Aspen Series - Balanced Portfolio - Service Shares (JABS)

Janus Aspen Series - Forty Portfolio - Service Shares (JACAS)

Janus Aspen Series - Global Technology Portfolio - Service Shares (JAGTS)

Janus Aspen Series - INTECH Risk-Managed Core Portfolio - Service Shares (JARLCS)*

Janus Aspen Series - Overseas Portfolio - Service II Shares (JAIGS2)

Janus Aspen Series - Overseas Portfolio - Service Shares (JAIGS)

LORD ABBETT FUNDS

Series Fund - Mid Cap Value Portfolio - Class VC (LOVMCV)

MASSACHUSETTS FINANCIAL SERVICES CO.

Investors Growth Stock Series - Initial Class (MIGIC)

Research International Series - Service Class (MVRISC)

Value Series - Initial Class (MVFIC)

Value Series - Service Class (MVFSC)

Variable Insurance Trust II - International Value Portfolio - Service Class (MVIVSC)

MORGAN STANLEY

Core Plus Fixed Income Portfolio - Class I (MSVFI)

Emerging Markets Debt Portfolio - Class I (MSEM)

Emerging Markets Debt Portfolio - Class II (MSEMB)*

Mid Cap Growth Portfolio - Class II (MSVMG2)*

Mid Cap Growth Portfolio - class I (MSVMG)

The Universal Institutional Funds, Inc. - Capital Growth Portfolio - Class I (MSVEG)

U.S. Mid Cap Value Portfolio - Class I (MSVMV)*

U.S. Real Estate Portfolio - Class I (MSVRE)

NATIONWIDE FUNDS GROUP

AllianceBernstein NVIT Global Fixed Income Fund - Class III (NVAGF3)

American Century NVIT Multi Cap Value Fund - Class I (NVAMV1)

American Funds NVIT Asset Allocation Fund - Class II (GVAAA2)

American Funds NVIT Bond Fund - Class II (GVABD2)

American Funds NVIT Global Growth Fund - Class II (GVAGG2)

American Funds NVIT Growth Fund - Class II (GVAGR2)

American Funds NVIT Growth-Income Fund - Class II (GVAGI2)

Federated NVIT High Income Bond Fund - Class I (HIBF)

Federated NVIT High Income Bond Fund - Class III (HIBF3)

Gartmore NVIT Emerging Markets Fund - Class I (GEM)

Gartmore NVIT Emerging Markets Fund - Class III (GEM3)

Gartmore NVIT Global Utilities Fund - Class I (GVGU1)

Gartmore NVIT International Equity Fund - Class I (GIG)

Gartmore NVIT International Equity Fund - Class III (GIG3)

Gartmore NVIT International Equity Fund - Class VI (NVIE6)

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

Gartmore NVIT Worldwide Leaders Fund - Class I (GEF)

Gartmore NVIT Worldwide Leaders Fund - Class III (GEF3)

Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1)

Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1)

Neuberger Berman NVIT Socially Responsible Fund - Class II (NVNSR2)*

NVIT Cardinal Aggressive Fund - Class I (NVCRA1)

NVIT Cardinal Balanced Fund - Class I (NVCRB1)

NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1)

NVIT Cardinal Conservative Fund - Class I (NVCCN1)

NVIT Cardinal Moderate Fund - Class I (NVCMD1)

NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1)

NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1)

NVIT Core Bond Fund - Class I (NVCBD1)

NVIT Core Plus Bond Fund - Class I (NVLCP1)

NVIT Fund - Class I (TRF)

NVIT Global Financial Services Fund - Class I (GVGF1)

NVIT Government Bond Fund - Class I (GBF)

NVIT Growth Fund - Class I (CAF)

NVIT Health Sciences Fund - Class I (GVGH1)

NVIT Health Sciences Fund - Class III (GVGHS)

NVIT International Index Fund - Class II (GVIX2)

NVIT International Index Fund - Class VI (GVIX6)

NVIT Investor Destinations Aggressive Fund - Class II (GVIDA)

NVIT Investor Destinations Balanced Fund - Class II (NVDBL2)

NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2)

NVIT Investor Destinations Conservative Fund - Class II (GVIDC)

NVIT Investor Destinations Moderate Fund - Class II (GVIDM)

NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA)

NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC)

NVIT Leaders Fund - Class I (GVUS1)

NVIT Mid Cap Index Fund - Class I (MCIF)

NVIT Mid Cap Index Fund - Class II (MCIF2)*

NVIT Money Market Fund - Class I (SAM)

NVIT Money Market Fund - Class V (SAM5)

NVIT Multi-Manager International Growth Fund - Class III (NVMIG3)

NVIT Multi-Manager International Value Fund - Class I (GVDIVI)

NVIT Multi-Manager International Value Fund - Class III (GVDIV3)

NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1)

NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1)

NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1)

NVIT Multi-Manager Mid Cap Value Fund - Class I (NVMMV1)*

NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2)

NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF)

NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF)

NVIT Multi-Manager Small Company Fund - Class I (SCF)

NVIT Multi-Sector Bond Fund - Class I (MSBF)

NVIT Short Term Bond Fund - Class I (NVSTB1)

NVIT Short Term Bond Fund - Class II (NVSTB2)

NVIT Technology & Communications Fund - Class I (GGTC)

NVIT Technology & Communications Fund - Class III (GGTC3)

NVIT U.S. Growth Leaders Fund - Class I (GVUG1)

Oppenheimer NVIT Large Cap Growth Fund - Class I (NVOLG1)

Templeton NVIT International Value Fund - Class III (NVTIV3)

Van Kampen NVIT Comstock Value Fund - Class I (EIF)

Van Kampen NVIT Real Estate Fund - Class I (NVRE1)

NEUBERGER & BERMAN MANAGEMENT, INC.

Advisers Management Trust - Short Duration Bond Portfolio - I Class Shares (AMTB)

PIONEER INVESTMENTS

Variable Contracts Trust - High Yield VCT Portfolio - Class II Shares (PIHYB2)*

Portfolios of the AIM Variable Insurance Funds

V.I. Basic Value Fund - Series I (AVBVI)

V.I. Capital Appreciation Fund - Series I (AVCA)

V.I. Capital Development Fund - Series I (AVCDI)

V.I. International Growth Fund - Series I (AVIE)

V.I. Mid Cap Core Equity Fund - Series I (AVMCCI)*

Portfolios of the AllianceBernstein Variable Products Series Fund, Inc.

VPS Growth and Income Portfolio - Class A (ALVGIA)

VPS Growth and Income Portfolio - Class B (ALVGIB)*

VPS International Value Portfolio - Class A (ALVIVA)

VPS International Value Portfolio - Class B (ALVIVB)*

VPS Small/Mid Cap Value Portfolio: Class A (ALVSVA)

VPS Small/Mid Cap Value Portfolio: Class B (ALVSVB)*

Portfolios of the American Century Variable Portfolios, Inc.

VP Income & Growth Fund - Class I (ACVIG)

VP Inflation Protection Fund - Class II (ACVIP2)

VP International Fund - Class I (ACVI)

VP International Fund - Class III (ACVI3)*

VP Mid Cap Value Fund - Class I (ACVMV1)

VP Mid Cap Value Fund - Class II (ACVMV2)*

VP Ultra(R) Fund - Class I (ACVU1)

VP Value Fund - Class I (ACVV)

VP Value Fund - Class II (ACVV2)*

VP Vista(SM) Fund - Class I (ACVVS1)

VP Vista(SM) Fund - Class II (ACVVS2)*

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

Portfolios of the Dreyfus Investment Portfolios

MidCap Stock Portfolio - Initial Shares (DVMCS)

Small Cap Stock Index Portfolio - Service Shares (DVSCS)

Stock Index Fund, Inc. - Initial Shares (DSIF)

Stock Index Fund, Inc. - Service Shares (DSIFS)*

The Dreyfus Socially Responsible Growth Fund, Inc. - Initial Shares (DSRG)

Portfolios of the Dreyfus Variable Investment Fund

Appreciation Portfolio - Initial Shares (DCAP)

Appreciation Portfolio - Service Shares (DCAPS)*

Developing Leaders Portfolio - Initial Shares (DSC)

International Value Portfolio - Initial Shares (DVIV)

Portfolios of the DWS Investments Variable Insurance Trust

Small Cap Index VIP - Class A (BISCI)*

Variable Series II - Dreman Small Mid Cap Value VIP - Class B (SVSSVB)

Variable Series II - Strategic Value VIP - Class B (SVSHEB)

Portfolios of the Federated Insurance Series

Capital Appreciation Fund II - Primary Shares (FVCA2P)

Clover Value Fund II - Primary Shares (FALF)

Market Opportunity Fund II - Service Shares (FVMOS)

Quality Bond Fund II - Primary Shares (FQB)

Quality Bond Fund II - Service Shares (FQBS)*

Portfolios of the Fidelity (R Variable Insurance Products Fund FidelityR)

VIP Fund - Contrafund Portfolio - Service Class (FCS)

VIP Fund - Energy Portfolio - Service Class 2 (FNRS2)

VIP Fund - Equity-Income Portfolio - Service Class (FEIS)

VIP Fund - Equity-Income Portfolio - Service Class 2 (FEI2)*

VIP Fund - Freedom Fund 2010 Portfolio - Service Class (FF10S)

VIP Fund - Freedom Fund 2020 Portfolio - Service Class (FF20S)

VIP Fund - Freedom Fund 2020 Portfolio - - Service Class 2 (FF20S2)*

VIP Fund - Freedom Fund 2030 Portfolio - Service Class (FF30S)

VIP Fund - Freedom Fund 2030 Portfolio - Service Class 2 (FF30S2)*

VIP Fund - Growth & Income Portfolio - Service Class (FGIS)

VIP Fund - Growth Opportunities Portfolio - Service Class (FGOS)

VIP Fund - Growth Portfolio - Service Class (FGS)

VIP Fund - Growth Portfolio - Service Class 2 (FG2)*

VIP Fund - High Income Portfolio - Service Class (FHIS)

VIP Fund - High Income Portfolio - Service Class R (FHISR)

VIP Fund - Index 500 Portfolio - Initial Class (FIP)

VIP Fund - Investment Grade Bond Portfolio - Service Class (FIGBS)

VIP Fund - Investment Grade Bond Portfolio - Service Class 2 (FIGBP2)*

VIP Fund - Mid Cap Portfolio - Service Class (FMCS)

VIP Fund - Mid Cap Portfolio - Service Class 2 (FMC2)*

VIP Fund - Overseas Portfolio - Service Class (FOS)

VIP Fund - Overseas Portfolio - Service Class R (FOSR)

VIP Fund - Value Strategies Portfolio - Service Class (FVSS)

VIP Fund - VIP Freedom Fund 2015 Portfolio - Service Class (FF15S)

VIP Fund - VIP Freedom Fund 2025 Portfolio - Service Class (FF25S)

Portfolios of the Franklin Templeton Variable Insurance Products Trust

Franklin Income Securities Fund - Class 2 (FTVIS2)

Franklin Rising Dividends Securities Fund - Class 1 (FTVRDI)

Franklin Small Cap Value Securities Fund - Class 1 (FTVSVI)

Franklin Small Cap Value Securities Fund - Class 2 (FTVSV2)

Mutual Discovery Global Securities Fund - Class 2 (FTVMD2)

Templeton Developing Markets Securities Fund - Class 3 (FTVDM3)

Templeton Foreign Securities Fund - Class 1 (TIF)

Templeton Foreign Securities Fund - Class 2 (TIF2)

Templeton Foreign Securities Fund - Class 3 (TIF3)

Templeton Global Bond Securities Fund - Class 2 (FTVGI2)

Templeton Global Bond Securities Fund - Class 3 (FTVGI3)

VIP Founding Funds Allocation Fund - Class 2 (FTVFA2)

Portfolios of the Goldman Sachs Variable Insurance Trust

Goldman Sachs VIT - Goldman Sachs Mid Cap Value Fund - Institutional Shares (GVMCE)

Portfolios of the Legg Mason Partners Variable Equity Trust

ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG)

Portfolios of the Lincoln Variable Insurance Products Trust

Brandes International Equity Fund (MFBIE)*

Business Opportunity Value Fund (MFBOV)*

Frontier Capital Appreciation Fund (MFFCA)*

Lincoln VIP Trust - Baron Growth Opportunities Funds - Service Class (BNCAI)

M Large Cap Growth Fund (MFTCG)*

Portfolios of the Neuberger Berman Advisers Management Trust

Guardian Portfolio - I Class Shares (AMGP)

International Portfolio - S Class Shares (AMINS)*

Mid-Cap Growth Portfolio - I Class Shares (AMCG)

Partners Portfolio- I Class Shares (AMTP)

Regency Portfolio - I Class Shares (AMRI)

Regency Portfolio - S Class Shares (AMRS)*

Small-Cap Growth Portfolio - S Class Shares (AMFAS)

Socially Responsive Portfolio - I Class Shares (AMSRS)

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

Portfolios of the Oppenheimer Variable Account Funds

Capital Appreciation Fund/VA - Service Class (OVCAFS)*

Capital Appreciation Fund/VA - Non-Service Shares (OVGR)

Global Securities Fund/VA - Class 3 (OVGS3)

Global Securities Fund/VA - Non-Service Shares (OVGS)

Global Securities Fund/VA - Service Class (OVGSS)*

High Income Fund/VA - Class 3 (OVHI3)

High Income Fund/VA - Non-Service Shares (OVHI)

Main Street Fund(R)/VA - Non-Service Shares (OVGI)

Main Street Small Cap Fund(R)/VA - Non-Service Shares (OVSC)

MidCap Fund/VA - Non-Service Shares (OVAG)

Strategic Bond Fund/VA - Non-Service Shares (OVSB)

Portfolios of the PIMCO Variable Insurance Trust

All Asset Portfolio - Administrative Class (PMVAAA)

Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA)

Low Duration Portfolio - Administrative Class (PMVLDA)

Real Return Portfolio - Administrative Class (PMVRRA)

Total Return Portfolio - Administrative Class (PMVTRA)

Portfolios of the Pioneer Variable Contracts Trust

Variable Contracts Trust - Emerging Markets VCT Portfolio - Class I Shares (PIVEMI)

Variable Contracts Trust - High Yield VCT Portfolio - Class I Shares (PIHYB1)

Portfolios of the Putnam Variable Trust

Putnam VT Growth and Income Fund - IB Shares (PVGIB)

Putnam VT International Equity Fund - IB Shares (PVTIGB)

Putnam VT Small Cap Value Fund - IB Shares (PVTSCB)

Putnam VT Vista Fund - IB Shares (PVVIB)

Putnam VT Voyager Fund - IB Shares (PVTVB)

Portfolios of the Van Kampen - The Universal Institutional Funds, Inc.

Global Real Estate Portfolio - Class II (VKVGR2)

Portfolios of the Van Kampen Life Investment Trust

Capital Growth Portfolio - Class II (ACEG2)*

ROYCE CAPITAL FUNDS

Micro-Cap Portfolio - Investment Class (ROCMC)

Small-Cap Portfolio - Investment Class (ROCSC)

T. ROWE PRICE

Blue Chip Growth Portfolio - II (TRBCG2)

Equity Income Portfolio - II (TREI2)

Health Sciences Portfolio - II (TRHS2)

Limited-Term Bond Portfolio - II (TRLT2)*

Mid-Cap Growth Portfolio - II (TRMCG2)

New America Growth Portfolio (TRNAG1)

Personal Strategy Balanced Portfolio (TRPSB1)

VAN ECK ASSOCIATES CORPORATION

Worldwide Insurance Trust - Worldwide Emerging Markets Fund - Initial Class (VWEM)

Worldwide Insurance Trust - Worldwide Hard Assets Fund - Initial Class (VWHA)

VANGUARD GROUP OF INVESTMENT COMPANIES

Vanguard(R) Variable Insurance Funds - Balanced Portfolio (VVB)

Vanguard(R) Variable Insurance Funds - Diversified Value Portfolio (VVDV)

Vanguard(R) Variable Insurance Funds - International Portfolio (VVI)

Vanguard(R) Variable Insurance Funds - Mid-Cap Index Portfolio (VVMCI)

Vanguard(R) Variable Insurance Funds - Short-Term Investment-Grade Portfolio (VVSTC)

WADDELL & REED, INC.

Ivy Fund Variable Insurance Portfolios, Inc. - Asset Strategy (WRASP)

Ivy Fund Variable Insurance Portfolios, Inc. - Growth (WRGP)

Ivy Fund Variable Insurance Portfolios, Inc. - Real Estate Securities (WRRESP)

Ivy Fund Variable Insurance Portfolios, Inc. - Science and Technology (WRSTP)

WELLS FARGO FUNDS

Advantage Funds Variable Trust - VT Discovery Fund (SVDF)

Advantage Funds Variable Trust - VT Opportunity Fund (SVOF)

Advantage Funds Variable Trust - VT Small Cap Growth Fund (WFVSCG)

Z CLOSED FUNDS

International Equity Flex I Portfolio (obsolete) (WIEP)*

International Equity Flex II Portfolio (obsolete) (WVCP)*

Insurance Trust - Insurance Trust Diversified Mid Cap Value Portfolio 1 (obsolete) (OGMVP)*

J.P. Morgan NVIT Balanced Fund - Class I (obsolete) (BF)*

NVIT Mid Cap Growth Fund - Class I (obsolete) (SGRF)*

Putnam VT OTC & Emerging Growth Fund - IB Shares (obsolete) (PVOEGB)*

U.S. Equity Flex II Portfolio (obsolete) (WGIP)*

* At December 31, 2009, contract owners were not invested in this fund.

The contract owners’ equity is affected by the investment results of each fund, equity transactions by contract owners and certain policy and asset charges (see notes 2 and 3). The accompanying financial statements include only contract owners’ purchase payments pertaining to the variable portions of their contracts and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of the Company. A contract owner may choose from among a number of different underlying mutual fund options.

The underlying mutual fund options are not available to the general public directly. The underlying mutual funds are available as investment options in variable life insurance policies or variable annuity contracts issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.

Some of the underlying mutual funds have been established by investment advisers which manage publicly traded mutual funds having similar names and investment objectives. While some of the underlying mutual funds may be similar to, and may in fact be modeled after, publicly traded mutual funds, the underlying mutual funds are not otherwise directly related to any publicly traded mutual fund. Consequently, the investment performance of publicly traded mutual funds and any corresponding underlying mutual funds may differ substantially.

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

A purchase payment could be presented as a negative equity transaction in the Statements of Changes in Contract Owners’ Equity if a prior period purchase payment is refunded to a contract owner due to a contract cancellation during the free look period, and/or if a gain is realized by the contract owner during the free look period.

(c) Security Valuation, Transactions and Related Investment Income

Investments in underlying mutual funds are valued at the closing net asset value per share at December 31, 2009 of such funds, which represents fair value. The cost of investments sold is determined on a first in – first out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed), and dividends and capital gain distributions are accrued as of the ex-dividend date and are reinvested in the underlying mutual funds.

(d) Federal Income Taxes

Operations of the Account form a part of, and are taxed with, operations of the Company, which is taxed as a life insurance company under the provisions of the Internal Revenue Code. The Company does not provide for income taxes within the Account. Taxes are generally the responsibility of the contract owner upon termination or withdrawal.

(e) Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(f) Recently Issued Accounting Standards

In September 2006, the FASB issued FASB ASC 820, Fair Value Measurements and Disclosures (SFAS No. 157, Fair Value Measurements). FASB ASC 820 provides enhanced guidance for using fair value to measure assets and liabilities and requires new disclosures about fair value measurements and also provides guidance regarding the extent to which companies measure assets and liabilities at fair value, the information used to measure fair value, and the effect of fair value measurements on earnings. For assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to initial recognition, the reporting entity shall disclose information that enables financial statement users to assess the inputs used to develop those measurements. FASB ASC 820 applies whenever other standards require (or permit) assets or liabilities to be measured at fair value but does not expand the use of fair value in any new circumstances.

FASB ASC 820 was effective for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years, with early adoption permitted. The Account adopted FASB ASC 820 effective January 1, 2008. The adoption of FASB ASC 820 did not have a material impact on the Account’s financial position or results of operations.

In September 2009 the FASB issued ASU 2009-12, which amends FASB ASC 820, Fair Value Measurements and Disclosures. This guidance applies to reporting entities that hold an investment that is required or permitted to be measured or disclosed at fair value on a recurring or nonrecurring basis if the investment does not have a readily determinable fair value and the investee has attributes of an investment company. For these investments, this update allows, as a practical expedient, the use of net asset value (NAV) as the basis to estimate fair value as long as it is not probable, as of the measurement date that the investment will be sold and NAV is not the value that will be used in the sale. The NAVs must be calculated consistent with the American Institute of Certified Public Accountants Audit and Accounting Guide, Investment Companies, which generally requires these investments to be measured at fair value. Additionally, the guidance provided updated disclosures for investments within its scope and noted that if the investor can redeem the investment with the investee on the measurement date at NAV, the investment should likely be classified as Level 2 in the fair value hierarchy. Investments that cannot be redeemed with the investee at NAV would generally be classified as Level 3 in the fair value hierarchy. If the investment is not redeemable with the investee on the measurement date, but will be at a future date, the length of time until the investment is redeemable should be considered in determining classification as Level 2 or 3. This guidance is effective for interim and annual periods ending after December 15, 2009 with early adoption permitted. The Account adopted this guidance effective the period ending December 31, 2009. The adoption of this guidance did not have a material impact on the financial statements of the Account.

(g) Subsequent Events

The Company evaluated subsequent events through the date the financial statements were issued with the SEC.

(2) Policy Charges

(a) Deductions from Premium

For individual flexible premium and survivorship contracts, the Company deducts a minimum of 0.5% to a maximum of 7.5% of all premiums received to cover premium tax and sales expense. The Company may, at its sole discretion, reduce the sales loading portion of the premium load.

There are no deductions from premium on modified single premium contracts.

For the Corporate Series, the Company deducts a front-end sales load from each premium payment received to compensate us for our sales expenses and premium taxes, and certain actual expenses, including acquisition costs. The Company may reduce this charge where the size or nature of the group results in savings in sales, underwriting, or administrative costs. Variations due to differences in costs are determined in a manner not unfairly discriminatory to policy owners.

For Future Corporate Flexible Premium Variable Universal Life this charge is guaranteed not to exceed 12% (5.5% starting in the sixth policy year) from each premium payment received.

For Next Generation and Nationwide MarathonSM Corporate Owned Flexible Premium Variable Universal Life this charge is guaranteed not to exceed 10% from each premium payment received.

For the periods ended December 31, 2009 and 2008, total front-end sales charge deductions were $12,945,103 and $18,211,128, respectively and were recognized as a reduction of purchase payments on the Statement of Changes in Contract Owners’ Equity.

(b) Cost of Insurance

A cost of insurance charge is assessed monthly against each contract by liquidating units. The amount of the charge varies widely and is based upon age, sex, rate class and net amount at risk (death benefit less total contract value).

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

(c) Administrative Charges

For The Best of America® Next Generation, Choice LifeSM and all flexible premium survivorship contracts, the Company currently deducts a minimum monthly administration charge of $5 per policy month to a maximum of $10 per policy month to recover policy maintenance, accounting, record keeping and other administrative expenses. These charges are assessed monthly against each contract by liquidating units. For The Best of America® Last Survivorship II and The Best of America® ChoiceLife Survivorship Life contracts, an administrative (per Specified Amount) charge is assessed to reimburse us for sales, underwriting, distribution and issuance costs. This charge is deducted from the policy’s Cash Value. During the first ten years from the Policy Date, the current monthly charge is $0.04 per $1,000 of Specified Amount, subject to a minimum charge of $20 and a maximum charge of $80 per month. These rates represent the maximum guaranteed charge for all years. After the tenth year from the Policy Date, the current monthly charge is $0.04 per $1,000 of Specified Amount, subject to a minimum charge of $20 and a maximum charge of $80 per month. These rates represent the maximum guaranteed charge for all years. After the tenth year from the Policy Date, the current monthly charge is $0.02 per $1,000 of Specified Amount with a $10 minimum and $40 maximum charge.

For The Best of America® ChoiceLifeSM Survivorship II and Next GenerationSM Survivorship Life contracts, the Company deducts a per $1,000 of Specified Amount charge for the first 3 policy years. This charge varies with the age of the insured and will not exceed $0.40 per $1,000 of Specified Amount. These charges are assessed monthly against each contract by liquidating units.

For modified single premium contracts, for all states other than New York, the Company currently deducts a minimum monthly administration charge of $10 per policy per month. The actual charge is determined by multiplying 0.30% on an annualized basis by the policy’s cash value. This charge may be reduced to 0.15% on an annualized basis for policy years 11 and later. In New York, this charge is assessed in all policy years, with a maximum charge of $7.50 per month. These charges are assessed monthly against each contract by liquidating units.

For ProtectionSM flexible premium contracts, the Company deducts a policy expense per $1,000 of Specified Amount charge for the first two policy years. This charge varies with the age of the insured and will not exceed $0.30 per $1,000 of Specified Amount. For last survivor contracts, the Company deducts a per $1,000 of Specified Amount charge for the first 3 policy years. This charge varies with the age of the insured and will not exceed $0.40 per $1,000 of Specified Amount. These charges are assessed monthly against each contract by liquidating units.

For the Corporate Series, the Company deducts a monthly administrative expense charge to recover policy maintenance, accounting, record keeping and other administrative expenses. These charges are assessed against each contract by liquidating units. Currently, this charge is $5 per month in all policy years (guaranteed not to exceed $10 per month). We also deduct a per $1,000 of Specified Amount charge to compensate us for sales, underwriting, distribution and issuance of the policy. This charge is assessed monthly against each contract by liquidating units. This charge varies depending on the total Specified Amount. For Future Corporate Flexible Premium Variable Universal Life, the Company deducts a per $1,000 of Specified Amount that will not exceed $0.40 per $1,000 of Specified Amount, unless the policy is issued in the state of New York with an application signed on or after January 2, 2010, where the maximum guaranteed charge is $0.085 of Specified Amount. For Next Generation and Nationwide MarathonSM Corporate Owned Flexible Premium Variable Universal Life, the Company deducts a per $1,000 of Specified Amount charge that will not exceed $0.40 per $1,000 of Specified Amount.

(d) Surrender Charges

Policy surrenders result in a redemption of the contract value from the Account and payment of the surrender proceeds to the contract owner or designee. The surrender proceeds consist of the contract value, less any outstanding policy loans, and less a surrender charge, if applicable. The amount of the charge is based upon a specified percentage of the initial surrender charge which varies by issue age, sex and rate class. For individual flexible premium, flexible premium survivorship and modified single premium and corporate contracts, the charge is 100% of the initial surrender charge in the first year, and declines a Specified Amount each year to 0% of the initial surrender charge in the ninth year or later. The Company may waive the surrender charge for certain contracts in which the sales expenses normally associated with the distribution of a contract are not incurred. The charges are assessed against each contract by liquidating units.

Corporate contracts do not currently assess surrender charges.

(3) Asset Charges

The Company deducts a charge related to the assumption of mortality and expense risk.

(a) Modified Single Premium Contracts (MSP)

For modified single premium contracts, the Company deducts a charge equal to an annualized rate of 0.70% of the cash surrender value of the sub-accounts. In policy years 1- 10, the Company also deducts a charge equal to the annualized rate of 0.5% of the cash surrender value of the sub-accounts to remiburse us for taxes imposed by federal, state and local governments. These charges are assessed monthly against each contract by liquidating units.

(b) Flexible Premium and Variable Executive Life Contracts (FPVUL and VEL)

For Best of America^® The Next Generation and Choice LifeSM contracts, the Company deducts a charge of $0.50 per $1,000 on the first $25,000 of cash surrender value attributable to the variable account, $0.25 per $1,000 on $25,001 up to $250,000 of cash surrender value attributable to the variable account and $0.08 per $1,000 over $250,000 of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units. For Choice Life ProtectionSM contracts and Best of America^® ProtectionSM contracts, the Company deducts $0.66 per $1,000 of cash surrender value attributable to the variable account during the first through fifteenth years from the Policy Date. Thereafter, this charge is $0.25 per $1,000 of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.

(c) Survivorship Life Contracts (SL)

For The Best of America^® Last Survivorship II and The Best of America^® ChoiceLife Survivorship contracts, during the first ten policy years, the Company deducts a charge of $0.46 per $1,000 on the cash surrender value attributable to the variable account. After ten years from the Policy Date, the Company deducts $0.46 per $1,000 on the first $25,000 of cash surrender value attributable to the variable account; $0.29 per $1,000 on $25,001 up to $99,999 of cash surrender value attributable to the variable account; and $0.17 per $1,000 on $100,000 or more of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.

For The Best of America^® ChoiceLifeSM Survivorship II and Next GenerationSM Survivorship Life contracts, during the first fifteen policy years, the Company deducts a charge of $0.50 per $1,000 on the first $25,000 of cash surrender value attributable to the variable account; $0.25 per $1,000 on $25,001 up to $250,000 of cash surrender value attributable to the variable account; and $0.08 per $1,000 over $250,000 of cash surrender value attributable to the variable account. After fifteen years from the Policy Date, the Company deducts $0.50 per $1,000 on the first $25,000 of cash surrender value attributable to the variable account and $0.08 per $1,000 over $25,000 of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.

For The Best of America^® ProtectionSM Survivorship and ChoiceLife ProtectionSM Survivorship Life contracts, during the first fifteen policy years, the Company deducts a charge of $0.66 per $1,000 of cash surrender value attributable to the variable account. After fifteen years from the Policy Date, the Company deducts $0.25 per $1,000 of cash surrender value attributable to the variable account. This charge is assessed monthly against each contract by liquidating units.

(d) Corporate Contracts

For Future Corporate Flexible Premium variable Universal Life, the Company deducts a charge guaranteed not to exceed an annualized rate of 0.90% of the daily net assets of the Account for policies issued on or after January 1, 2009. This charge is guaranteed not to exceed an annualized rate of 0.75% of the daily net assets of the Account for policies issued prior to January 1, 2009. Currently, this rate is 0.25% during the first through fourth policy years, 0.20% during the fifth through fifteenth policy years, and 0.10% thereafter. This charge is assessed monthly against each contract by liquidating units.

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

For Next Generation Corporate Owned Flexible Premium Variable Universal Life, the Company deducts a charge guaranteed not to exceed an annualized rate of 1.25% of the daily net assets of the Account. Currently, this rate will not exceed 0.60%. This charge is assessed monthly against each contract by liquidating units. For Nationwide MarathonSM Corporate Owned Flexible Premium Variable Universal Life, the Company deducts a charge guaranteed not to exceed an annualized rate of 0.90% of the daily net asset value of the Account. Currently, this rate will not exceed 0.50%. This charge is assessed monthly against each contract by liquidating units.

The Company may reduce or eliminate certain charges where the size or nature of the group results in savings in sales, underwriting, administrative or other costs to the Company. These charges may be reduced in certain group sponsored arrangements or special exchange programs made available by the Company.

(4) Death Benefits

Death benefit proceeds result in a redemption of the contract value from the Account and payment of those proceeds, less any outstanding policy loans (and policy charges), to the legal beneficiary. For last survivor flexible premium contracts, the proceeds are payable on the death of the last surviving insured. In the event that the guaranteed death benefit exceeds the contract value on the date of death, the excess is paid by the Company’s general account.

(5) Policy Loans (Net of Repayments)

Contract provisions allow contract owners to borrow 90% of a policy’s variable cash surrender value plus 100% of a policy’s fixed cash surrender value less applicable value of surrender charge. Interest is charged on the outstanding loan and is due and payable in advance on the policy anniversary. At the time the loan is granted, the amount of the loan is transferred from the Account to the Company’s general account as collateral for the outstanding loan. Collateral amounts in the general account are credited with the stated rate of interest in effect at the time the loan is made, subject to a guaranteed minimum rate. Interest credited is paid by the Company’s general account to the Account. Loan repayments result in a transfer of collateral including interest credited back to the Account.

(6) Related Party Transactions

The Company performs various services on behalf of the mutual fund companies in which the Account invests and may receive fees for the services performed. These services include, among other things, shareholder communications, postage, fund transfer agency and various other record keeping and customer service functions. These fees are paid to an affiliate of the Company. Contract owners may, with certain restrictions, transfer their assets between the Account and a fixed dollar contract (fixed account) maintained in the accounts of the Company. These transfers are the result of the contract owner executing fund exchanges. Fund exchanges from the Account to the fixed account are included in surrenders, and fund exchanges from the fixed account to the Account are included in purchase payments received from contract owners, as applicable, on the accompanying Statements of Change in Contract Owner’s Equity. Policy loan transactions (note 5), executed at the direction of the contract owner, also result in transfers between the Account and the fixed account of the Company, but are included in Net Policy (Loans) Repayments. The fixed account assets are not reflected in the accompanying financial statements. For the periods ended December 31, 2009 and 2008, total transfers into the Account from the fixed account were $57,576,680 and $37,793,952, respectively, and total transfers from the Account to the fixed account were $123,242,143 and $78,945,707, respectively.

(7) Fair Value Measurement

FASB ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Account generally uses the market approach as the valuation technique due to the nature of the mutual fund investments offered in the Account. This technique maximizes the use of observable inputs and minimizes the use of unobservable inputs.

In accordance with FASB ASC 820, the Account categorized its financial instruments into a three level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument in its entirety.

The Account categorizes financial assets recorded at fair value as follows:

• Level 1 – Unadjusted quoted prices accessible in active markets for identical assets at the measurement date. The assets utilizing Level 1 valuations represent investments in publicly-traded registered mutual funds with quoted market prices.

• Level 2 – Unadjusted quoted prices for similar assets in active markets or inputs (other than quoted prices) that are observable or that are derived principally from or corroborated by observable market data through correlation or other means. The assets utilizing Level 2 valuations represent investments in privately-traded registered mutual funds only offered through insurance products. These funds have no unfunded commitments or restrictions and the Account always has the ability to redeem its interest in the funds with the investee at NAV daily. The investment objectives of these mutual funds are described by the fund name in note 1(b) and in more detail in the applicable product prospectus.

• Level 3 – Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. The Account invests only in funds with fair value measurements in the first two levels of the fair value hierarchy.

The following table summarizes assets measured at fair value on a recurring basis as of December 31, 2009:

	Level 1	Level 2		Level 3	Total
Separate Account Investments	0	$	3,764,648,339	0	$	3,764,648,339

Net Accounts Payable of $826,961 are measured at settlement value which approximates the fair value due to the short-term nature of such liabilities.

The Account did not have any assets or liabilities reported at fair value on a nonrecurring basis required to be disclosed under FASB ASC 820.

The cost of purchases and sales of Investments for the year ended December 31, 2009 are as follows:

	Purchases of Investments		Sales of Investments
Asset Allocation Fund - Class 2 (AMVAA2)	$	472,104	$	234,137
Bond Fund - Class 2 (AMVBD2)		506,626		281,904
Global Small Capitalization Fund - Class 2 (AMVGS2)		659,551		439,461
Growth Fund - Class 2 (AMVGR2)		900,727		759,460
Large Cap Core V.I. Fund - Class II (MLVLC2)		875,607		912,177
Variable Series Funds, Inc. - Global Allocation V.I. Fund - Class II (MLVGA2)		2,987,397		72,268
Variable Series, Inc. - Social Equity Portfolio (CVSSE)		109,252		66,069
Credit Suisse Trust - International Equity Flex III Portfolio (CSIEF3)		798,973		326,152
U.S. Equity Flex I Portfolio (WSCP)		1,858,082		166,709
Variable Account Fund, Inc. - Value Portfolio (DAVVL)		1,854,283		925,399
Insurance Trust - Insurance Trust Diversified Mid Cap Growth Portfolio 1 (OGGO)		930,973		1,745,876

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

Insurance Trust - Insurance Trust Mid Cap Value Portfolio 1 (JPMMV1)	129,776	1,200
Janus Aspen Series - Balanced Portfolio - Service Shares (JABS)	7,044,932	3,789,794
Janus Aspen Series - Forty Portfolio - Service Shares (JACAS)	7,375,276	7,330,075
Janus Aspen Series - Global Technology Portfolio - Service Shares (JAGTS)	2,328,389	2,848,910
Janus Aspen Series - INTECH Risk-Managed Core Portfolio - Service Shares (JARLCS)	18,308	653,777
Janus Aspen Series - Overseas Portfolio - Service II Shares (JAIGS2)	5,003,753	3,462,432
Janus Aspen Series - Overseas Portfolio - Service Shares (JAIGS)	6,271,776	13,426,434
Series Fund - Mid Cap Value Portfolio - Class VC (LOVMCV)	740,718	1,202,684
Investors Growth Stock Series - Initial Class (MIGIC)	441,934	792,160
Research International Series - Service Class (MVRISC)	355,307	41,429
Value Series - Initial Class (MVFIC)	1,689,836	1,710,509
Value Series - Service Class (MVFSC)	3,111,659	2,225,721
Variable Insurance Trust II - International Value Portfolio - Service Class (MVIVSC)	3,681,930	614,569
Core Plus Fixed Income Portfolio - Class I (MSVFI)	458,191	986,038
Emerging Markets Debt Portfolio - Class I (MSEM)	4,405,830	8,303,333
Mid Cap Growth Portfolio - class I (MSVMG)	3,381,106	8,319,235
The Universal Institutional Funds, Inc. - Capital Growth Portfolio - Class I (MSVEG)	58,044	18,630
U.S. Real Estate Portfolio - Class I (MSVRE)	7,623,123	67,470,109
AllianceBernstein NVIT Global Fixed Income Fund - Class III (NVAGF3)	288,499	15,747
American Century NVIT Multi Cap Value Fund - Class I (NVAMV1)	69,393	40,862
American Funds NVIT Asset Allocation Fund - Class II (GVAAA2)	620,020	621,925
American Funds NVIT Bond Fund - Class II (GVABD2)	1,109,257	1,337,254
American Funds NVIT Global Growth Fund - Class II (GVAGG2)	1,390,897	1,191,074
American Funds NVIT Growth Fund - Class II (GVAGR2)	1,966,090	2,162,092
American Funds NVIT Growth-Income Fund - Class II (GVAGI2)	894,341	742,065
Federated NVIT High Income Bond Fund - Class I (HIBF)	6,671,925	7,842,168
Federated NVIT High Income Bond Fund - Class III (HIBF3)	8,831,918	6,943,636
Gartmore NVIT Emerging Markets Fund - Class I (GEM)	8,092,041	19,720,686
Gartmore NVIT Emerging Markets Fund - Class III (GEM3)	2,796,410	4,488,280
Gartmore NVIT Global Utilities Fund - Class I (GVGU1)	637,422	1,982,167
Gartmore NVIT International Equity Fund - Class I (GIG)	3,254,153	9,280,378
Gartmore NVIT International Equity Fund - Class III (GIG3)	3,430,678	343,860
Gartmore NVIT International Equity Fund - Class VI (NVIE6)	453,082	70,094
Gartmore NVIT Worldwide Leaders Fund - Class I (GEF)	605,023	1,174,436
Gartmore NVIT Worldwide Leaders Fund - Class III (GEF3)	14,514	365
Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1)	14,832,465	1,220,310
Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1)	204,702	89,350
NVIT Cardinal Aggressive Fund - Class I (NVCRA1)	265,652	368,946
NVIT Cardinal Balanced Fund - Class I (NVCRB1)	383,819	176,204
NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1)	858,430	63,623
NVIT Cardinal Conservative Fund - Class I (NVCCN1)	862,013	341,746
NVIT Cardinal Moderate Fund - Class I (NVCMD1)	1,849,206	586,200
NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1)	2,075,219	1,384,040
NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1)	325,135	30,319
NVIT Core Bond Fund - Class I (NVCBD1)	934,912	541,647
NVIT Core Plus Bond Fund - Class I (NVLCP1)	318,336	208,907
NVIT Fund - Class I (TRF)	5,568,522	6,956,965
NVIT Global Financial Services Fund - Class I (GVGF1)	1,532,186	3,116,396
NVIT Government Bond Fund - Class I (GBF)	21,287,928	31,995,363
NVIT Growth Fund - Class I (CAF)	1,366,328	1,038,796
NVIT Health Sciences Fund - Class I (GVGH1)	641,477	1,081,642
NVIT Health Sciences Fund - Class III (GVGHS)	564,554	1,257,635
NVIT International Index Fund - Class II (GVIX2)	3,404,821	1,020,239
NVIT International Index Fund - Class VI (GVIX6)	291,799	520,594
NVIT Investor Destinations Aggressive Fund - Class II (GVIDA)	4,444,495	5,325,172
NVIT Investor Destinations Balanced Fund - Class II (NVDBL2)	22,270	465
NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2)	165,252	42,861
NVIT Investor Destinations Conservative Fund - Class II (GVIDC)	5,831,132	18,784,982
NVIT Investor Destinations Moderate Fund - Class II (GVIDM)	23,032,766	12,116,289
NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA)	10,697,405	11,958,204
NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC)	3,809,289	5,665,340
NVIT Leaders Fund - Class I (GVUS1)	403,031	1,387,350
NVIT Mid Cap Index Fund - Class I (MCIF)	8,958,841	16,291,212
NVIT Money Market Fund - Class I (SAM)	43,012,760	65,373,637
NVIT Money Market Fund - Class V (SAM5)	150,034,976	224,446,081
NVIT Multi-Manager International Growth Fund - Class III (NVMIG3)	16,786,639	957,528
NVIT Multi-Manager International Value Fund - Class I (GVDIVI)	25,352	336,260
NVIT Multi-Manager International Value Fund - Class III (GVDIV3)	507,028	2,293,707
NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1)	2,484,991	399,243
NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1)	3,663,990	540,928
NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1)	29,813,384	2,215,203
NVIT Multi-Manager Mid Cap Value Fund - Class I (NVMMV1)	8,306	10,651
NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2)	11,639,512	1,327,248
NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF)	1,226,218	3,836,095
NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF)	1,985,830	11,067,422
NVIT Multi-Manager Small Company Fund - Class I (SCF)	6,474,009	25,315,914
NVIT Multi-Sector Bond Fund - Class I (MSBF)	6,039,469	6,814,969
NVIT Short Term Bond Fund - Class I (NVSTB1)	921,430	365,983
NVIT Short Term Bond Fund - Class II (NVSTB2)	4,166,563	2,234,982
NVIT Technology & Communications Fund - Class I (GGTC)	1,137,782	2,012,620
NVIT Technology & Communications Fund - Class III (GGTC3)	1,025,451	1,429,171
NVIT U.S. Growth Leaders Fund - Class I (GVUG1)	285,314	3,853,393
Oppenheimer NVIT Large Cap Growth Fund - Class I (NVOLG1)	440,833	27,618
Templeton NVIT International Value Fund - Class III (NVTIV3)	150,785	40,044

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

Van Kampen NVIT Comstock Value Fund - Class I (EIF)	523,563	2,480,464
Van Kampen NVIT Real Estate Fund - Class I (NVRE1)	21,463,163	1,740,020
Advisers Management Trust - Short Duration Bond Portfolio - I Class Shares (AMTB)	2,062,227	2,249,823
V.I. Basic Value Fund - Series I (AVBVI)	752,690	8,135,514
V.I. Capital Appreciation Fund - Series I (AVCA)	240,309	249,823
V.I. Capital Development Fund - Series I (AVCDI)	2,625,855	6,712,588
V.I. International Growth Fund - Series I (AVIE)	9,797,692	10,513,577
VPS Growth and Income Portfolio - Class A (ALVGIA)	2,169,235	5,386,450
VPS International Value Portfolio - Class A (ALVIVA)	11,871,742	30,167,057
VPS Small/Mid Cap Value Portfolio: Class A (ALVSVA)	3,092,176	2,983,968
VP Income & Growth Fund - Class I (ACVIG)	1,246,301	3,134,812
VP Inflation Protection Fund - Class II (ACVIP2)	12,662,305	3,943,186
VP International Fund - Class I (ACVI)	5,273,396	20,337,669
VP International Fund - Class III (ACVI3)	772,460	10,861,122
VP Mid Cap Value Fund - Class I (ACVMV1)	1,175,458	1,003,668
VP Ultra(R) Fund - Class I (ACVU1)	305,422	3,741,090
VP Value Fund - Class I (ACVV)	8,714,015	12,914,753
VP Vista(SM) Fund - Class I (ACVVS1)	1,311,317	5,272,214
MidCap Stock Portfolio - Initial Shares (DVMCS)	320,622	405,984
Small Cap Stock Index Portfolio - Service Shares (DVSCS)	11,801,145	10,235,584
Stock Index Fund, Inc. - Initial Shares (DSIF)	52,759,517	82,053,106
The Dreyfus Socially Responsible Growth Fund, Inc. - Initial Shares (DSRG)	475,622	1,781,306
Appreciation Portfolio - Initial Shares (DCAP)	5,008,885	4,895,797
Developing Leaders Portfolio - Initial Shares (DSC)	196,285	418,894
International Value Portfolio - Initial Shares (DVIV)	4,047,697	10,816,406
Variable Series II - Dreman Small Mid Cap Value VIP - Class B (SVSSVB)	596,958	5,232,579
Variable Series II - Strategic Value VIP - Class B (SVSHEB)	290,731	790,955
Capital Appreciation Fund II - Primary Shares (FVCA2P)	193,946	90,186
Clover Value Fund II - Primary Shares (FALF)	39,218	148,722
Market Opportunity Fund II - Service Shares (FVMOS)	339,375	384,091
Quality Bond Fund II - Primary Shares (FQB)	6,892,984	4,646,254
VIP Fund - Contrafund Portfolio - Service Class (FCS)	16,153,073	81,788,534
VIP Fund - Energy Portfolio - Service Class 2 (FNRS2)	3,035,604	8,180,896
VIP Fund - Equity-Income Portfolio - Service Class (FEIS)	5,084,502	21,818,310
VIP Fund - Freedom Fund 2010 Portfolio - Service Class (FF10S)	677,875	582,946
VIP Fund - Freedom Fund 2020 Portfolio - Service Class (FF20S)	2,460,500	2,174,502
VIP Fund - Freedom Fund 2030 Portfolio - Service Class (FF30S)	941,225	671,986
VIP Fund - Growth & Income Portfolio - Service Class (FGIS)	111,916	56,856
VIP Fund - Growth Opportunities Portfolio - Service Class (FGOS)	467,056	1,047,192
VIP Fund - Growth Portfolio - Service Class (FGS)	4,011,283	15,575,521
VIP Fund - High Income Portfolio - Service Class (FHIS)	4,517,430	12,302,913
VIP Fund - High Income Portfolio - Service Class R (FHISR)	2,900,233	1,981,756
VIP Fund - Index 500 Portfolio - Initial Class (FIP)	1,870,532	2,426,308
VIP Fund - Investment Grade Bond Portfolio - Service Class (FIGBS)	8,529,996	7,355,352
VIP Fund - Mid Cap Portfolio - Service Class (FMCS)	7,355,460	13,711,485
VIP Fund - Overseas Portfolio - Service Class (FOS)	3,821,262	11,369,151
VIP Fund - Overseas Portfolio - Service Class R (FOSR)	1,434,132	3,690,821
VIP Fund - Value Strategies Portfolio - Service Class (FVSS)	842,348	2,719,609
VIP Fund - VIP Freedom Fund 2015 Portfolio - Service Class (FF15S)	1,326,483	1,434,306
VIP Fund - VIP Freedom Fund 2025 Portfolio - Service Class (FF25S)	402,030	156,949
Franklin Income Securities Fund - Class 2 (FTVIS2)	963,484	1,514,128
Franklin Rising Dividends Securities Fund - Class 1 (FTVRDI)	1,700,843	2,840,938
Franklin Small Cap Value Securities Fund - Class 1 (FTVSVI)	1,756,611	2,522,151
Franklin Small Cap Value Securities Fund - Class 2 (FTVSV2)	2,316,792	3,169,202
Mutual Discovery Global Securities Fund - Class 2 (FTVMD2)	293,592	199,425
Templeton Developing Markets Securities Fund - Class 3 (FTVDM3)	2,051,764	1,766,463
Templeton Foreign Securities Fund - Class 1 (TIF)	118,134	315,506
Templeton Foreign Securities Fund - Class 2 (TIF2)	5,018,586	8,675,619
Templeton Foreign Securities Fund - Class 3 (TIF3)	1,037,317	2,165,423
Templeton Global Bond Securities Fund - Class 2 (FTVGI2)	2,301,822	841,292
Templeton Global Bond Securities Fund - Class 3 (FTVGI3)	3,276,870	3,633,415
VIP Founding Funds Allocation Fund - Class 2 (FTVFA2)	218,123	121,421
Goldman Sachs VIT - Goldman Sachs Mid Cap Value Fund - Institutional Shares (GVMCE)	7,821,443	18,085,593
ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG)	122,758	61,665
Lincoln VIP Trust - Baron Growth Opportunities Funds - Service Class (BNCAI)	2,813,633	4,610,644
Guardian Portfolio - I Class Shares (AMGP)	346,428	8,489,301
International Portfolio - S Class Shares (AMINS)	71,921	3,881,216
Mid-Cap Growth Portfolio - I Class Shares (AMCG)	618,137	22,498,639
Partners Portfolio - I Class Shares (AMTP)	2,126,471	18,724,017
Regency Portfolio - I Class Shares (AMRI)	975,322	1,322,678
Regency Portfolio - S Class Shares (AMRS)	98,228	1,360,827
Small-Cap Growth Portfolio - S Class Shares (AMFAS)	739,644	1,154,404
Socially Responsive Portfolio - I Class Shares (AMSRS)	251,035	1,614,212
Capital Appreciation Fund/VA - Non-Service Shares (OVGR)	6,942,566	20,261,408
Global Securities Fund/VA - Class 3 (OVGS3)	1,988,608	3,139,805
Global Securities Fund/VA - Non-Service Shares (OVGS)	8,040,245	15,527,711
High Income Fund/VA - Class 3 (OVHI3)	543,425	1,020,173
High Income Fund/VA - Non-Service Shares (OVHI)	1,075	580,559
Main Street Fund(R)/VA - Non-Service Shares (OVGI)	2,144,826	5,111,523
Main Street Small Cap Fund(R)/VA - Non-Service Shares (OVSC)	1,221,033	1,616,550
MidCap Fund/VA - Non-Service Shares (OVAG)	1,585,933	4,537,076
Strategic Bond Fund/VA - Non-Service Shares (OVSB)	950,220	486,930
All Asset Portfolio - Administrative Class (PMVAAA)	803,952	610,071
Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA)	1,780,520	1,123,118

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

Low Duration Portfolio - Administrative Class (PMVLDA)			31,878,205		12,578,522
Real Return Portfolio - Administrative Class (PMVRRA)			31,053,627		21,860,868
Total Return Portfolio - Administrative Class (PMVTRA)			94,259,579		42,916,288
Variable Contracts Trust - Emerging Markets VCT Portfolio - Class I Shares (PIVEMI)			1,020,067		230,653
Variable Contracts Trust - High Yield VCT Portfolio - Class I Shares (PIHYB1)			6,703,539		9,254,826
Putnam VT Growth and Income Fund - IB Shares (PVGIB)			81,249		252,874
Putnam VT International Equity Fund - IB Shares (PVTIGB)			149,476		881,575
Putnam VT Small Cap Value Fund - IB Shares (PVTSCB)			5,247		2,593
Putnam VT Vista Fund - IB Shares (PVVIB)			170,935		107,483
Putnam VT Voyager Fund - IB Shares (PVTVB)			599,423		154,049
Global Real Estate Portfolio - Class II (VKVGR2)			752,378		796,454
Micro-Cap Portfolio - Investment Class (ROCMC)			7,308,630		18,371,322
Small-Cap Portfolio - Investment Class (ROCSC)			219,577		133,653
Blue Chip Growth Portfolio - II (TRBCG2)			604,310		1,091,650
Equity Income Portfolio - II (TREI2)			17,757,721		30,989,277
Health Sciences Portfolio - II (TRHS2)			526,261		776,680
Limited-Term Bond Portfolio - II (TRLT2)			1,874,605		3,907,776
Mid-Cap Growth Portfolio - II (TRMCG2)			4,862,638		10,039,035
New America Growth Portfolio (TRNAG1)			5,847,925		6,326,822
Personal Strategy Balanced Portfolio (TRPSB1)			417,240		570,975
Worldwide Insurance Trust - Worldwide Emerging Markets Fund - Initial Class (VWEM)			6,356,190		13,807,075
Worldwide Insurance Trust - Worldwide Hard Assets Fund - Initial Class (VWHA)			12,213,709		15,275,157
Vanguard(R) Variable Insurance Funds - Balanced Portfolio (VVB)			827,509		743,179
Vanguard(R) Variable Insurance Funds - Diversified Value Portfolio (VVDV)			644,958		502,321
Vanguard(R) Variable Insurance Funds - International Portfolio (VVI)			1,337,598		1,318,788
Vanguard(R) Variable Insurance Funds - Mid-Cap Index Portfolio (VVMCI)			1,322,877		1,379,635
Vanguard(R) Variable Insurance Funds - Short-Term Investment-Grade Portfolio (VVSTC)			1,870,110		997,125
Ivy Fund Variable Insurance Portfolios, Inc. - Asset Strategy (WRASP)			4,970,939		1,139,962
Ivy Fund Variable Insurance Portfolios, Inc. - Growth (WRGP)			575,224		584,519
Ivy Fund Variable Insurance Portfolios, Inc. - Real Estate Securities (WRRESP)			937,629		576,889
Ivy Fund Variable Insurance Portfolios, Inc. - Science and Technology (WRSTP)			333,862		260,043
Advantage Funds Variable Trust - VT Discovery Fund (SVDF)			756,287		334,347
Advantage Funds Variable Trust - VT Opportunity Fund (SVOF)			1,100,847		20,556,922
Advantage Funds Variable Trust - VT Small Cap Growth Fund (WFVSCG)			2,700,571		823,653
OGMVP (OGMVP)			3,345		323,648
International Equity Flex I Portfolio (obsolete) (WIEP)			48,917		1,235,897
International Equity Flex II Portfolio (obsolete) (WVCP)			22,648		511,238
J.P. Morgan NVIT Balanced Fund - Class I (obsolete) (BF)			2,945,891		17,799,672
NVIT Mid Cap Growth Fund - Class I (obsolete) (SGRF)			193,673		12,351,705
Putnam VT OTC & Emerging Growth Fund - IB Shares (obsolete) (PVOEGB)			101,464		143,659
U.S. Equity Flex II Portfolio (obsolete) (WGIP)			187,920		1,820,899
	Total	$	1,047,513,145	$	1,525,639,100

(8) Financial Highlights

The following tabular presentation is a summary of units, unit fair values and contract owners’ equity outstanding for variable life contract as of the end of the periods indicated, and the contract expense rate, investment income ratio and total return for each of the periods in the five year period ended December 31, 2009.

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Asset Allocation Fund - Class 2 (AMVAA2)
2009	0.00	%	42,984	$	8.457915	$	363,555	2.53	%	23.98	%
2009	0.25	%	113,993		8.410207		958,705	2.53	%	23.67	%
2008	0.00	%	25,201		6.821773		171,916	4.65	%	-29.51	%
2008	0.25	%	88,189		6.800279		599,710	4.65	%	-29.69	%
2008	0.40	%	3,451		6.787413		23,423	4.65	%	-29.79	%
Bond Fund - Class 2 (AMVBD2)
2009	0.00	%	1,580		10.260471		16,212	3.45	%	12.61	%
2009	0.20	%	65,270		10.214198		666,681	3.45	%	12.38	%
2009	0.25	%	17,735		10.202662		180,944	3.45	%	12.32	%
2008	0.00	%	702		9.111914		6,397	5.81	%	-9.35	%
2008	0.20	%	49,461		9.088973		449,550	5.81	%	-9.53	%
2008	0.25	%	12,173		9.083242		110,570	5.81	%	-9.57	%
Global Small Capitalization Fund - Class 2 (AMVGS2)
2009	0.20	%	99,620		8.111767		808,094	0.37	%	60.97	%
2009	0.25	%	13,910		8.103815		112,724	0.37	%	60.89	%
2008	0.20	%	45,204		5.039200		227,792	0.00	%	-49.61	%	1/16/2008
2008	0.25	%	4,127		5.036777		20,787	0.00	%	-49.63	%	1/16/2008
Growth Fund - Class 2 (AMVGR2)
2009	0.20	%	198,835		7.823490		1,555,584	0.73	%	39.13	%
2009	0.25	%	27,764		7.815684		216,995	0.73	%	39.06	%
2008	0.20	%	138,139		5.623019		776,758	0.96	%	-43.77	%	1/2/2008
2008	0.25	%	12,612		5.620215		70,882	0.96	%	-43.80	%	1/2/2008
Large Cap Core V.I. Fund - Class II (MLVLC2)
2009	0.00	%	3,193		10.756180		34,344	1.38	%	22.35	%
2009	0.10	%	6,164		10.706109		65,992	1.38	%	22.23	%
2009	0.25	%	129,231		10.631422		1,373,909	1.38	%	22.05	%
2008	0.00	%	2,673		8.791079		23,499	0.50	%	-38.83	%
2008	0.10	%	27,826		8.758902		243,725	0.50	%	-38.89	%
2008	0.25	%	61,843		8.710851		538,705	0.50	%	-38.99	%
2008	0.40	%	11,606		8.663056		100,543	0.50	%	-39.08	%
2007	0.10	%	16,026		14.333835		229,714	1.23	%	8.02	%
2007	0.25	%	230,248		14.276667		3,287,174	1.23	%	7.86	%
2007	0.40	%	15,428		14.219711		219,382	1.23	%	7.69	%
2006	0.25	%	131,296		13.236885		1,737,950	0.79	%	14.33	%
2006	0.40	%	17,728		13.203975		234,080	0.79	%	14.16	%
2005	0.25	%	101,208		11.577932		1,171,779	0.74	%	15.78	%	5/2/2005
2005	0.40	%	73,626		11.566434		851,590	0.74	%	15.66	%	5/2/2005
Variable Series Funds, Inc. - Global Allocation V.I. Fund - Class II (MLVGA2)
2009	0.00	%	244,329		12.182592		2,976,561	3.16	%	21.83	%	5/1/2009

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Variable Series, Inc. - Social Equity Portfolio (CVSSE)
2009	0.10	%	9,826	$	14.595276	$	143,413	0.57	%	34.13	%
2009	0.25	%	4,347		14.435757		62,752	0.57	%	33.92	%
2008	0.10	%	4,626		10.881799		50,339	0.00	%	-35.86	%
2008	0.25	%	5,877		10.779017		63,348	0.00	%	-35.95	%
2007	0.10	%	3,460		16.964928		58,699	0.00	%	9.88	%
2007	0.25	%	4,512		16.829986		75,937	0.00	%	9.71	%
2006	0.10	%	1,026		15.439612		15,841	0.00	%	9.95	%
2006	0.25	%	7,002		15.339931		107,410	0.00	%	9.78	%
2006	0.40	%	512		15.240875		7,803	0.00	%	9.62	%
2005	0.10	%	1,026		14.042800		14,408	0.06	%	4.44	%
2005	0.25	%	1,152		13.973029		16,097	0.06	%	4.28	%
2005	0.40	%	428		13.903575		5,951	0.06	%	4.13	%
Credit Suisse Trust - International Equity Flex III Portfolio (CSIEF3)
2009	0.00	%	28,749		10.108851		290,619	0.00	%	1.09	%	12/11/2009
2009	0.10	%	11,666		10.108299		117,923	0.00	%	1.08	%	12/11/2009
2009	0.25	%	5,543		10.107469		56,026	0.00	%	1.07	%	12/11/2009
U.S. Equity Flex I Portfolio (WSCP)
2009	0.00	%	100,191		10.876108		1,089,688	0.00	%	8.76	%	10/2/2009
Variable Account Fund, Inc. - Value Portfolio (DAVVL)
2009	0.00	%	69,243		7.674178		531,383	1.04	%	31.16	%
2009	0.25	%	204,585		7.630866		1,561,161	1.04	%	30.83	%
2008	0.25	%	76,781		5.832746		447,844	1.92	%	-40.47	%
Insurance Trust - Insurance Trust Diversified Mid Cap Growth Portfolio 1 (OGGO)
2009	0.10	%	34,974		16.718525		584,714	0.00	%	42.90	%
2009	0.25	%	142,297		16.536826		2,353,141	0.00	%	42.68	%
2008	0.10	%	24,370		11.699757		285,123	0.00	%	-43.84	%
2008	0.25	%	150,923		11.589969		1,749,193	0.00	%	-43.93	%
2008	0.40	%	62,009		11.481181		711,937	0.00	%	-44.01	%
2007	0.10	%	50,026		20.833315		1,042,207	0.00	%	17.12	%
2007	0.20	%	71,184		20.723509		1,475,182	0.00	%	17.00	%
2007	0.25	%	100,032		20.668909		2,067,552	0.00	%	16.94	%
2007	0.40	%	106,088		20.505746		2,175,414	0.00	%	16.77	%
2006	0.10	%	35,396		17.787877		629,620	0.00	%	11.28	%
2006	0.20	%	43,296		17.711914		766,855	0.00	%	11.17	%
2006	0.25	%	62,906		17.674125		1,111,809	0.00	%	11.11	%
2006	0.40	%	83,526		17.561058		1,466,805	0.00	%	10.95	%
2005	0.10	%	24,994		15.985073		399,531	0.00	%	10.98	%
2005	0.20	%	23,694		15.932691		377,509	0.00	%	10.87	%
2005	0.25	%	75,420		15.906622		1,199,677	0.00	%	10.82	%
2005	0.40	%	90,134		15.828526		1,426,688	0.00	%	10.65	%
Insurance Trust - Insurance Trust Mid Cap Value Portfolio 1 (JPMMV1)
2009	0.10	%	5,523		12.633626		69,776	0.00	%	26.57	%
2009	0.20	%	7,956		12.562325		99,946	0.00	%	26.44	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Janus Aspen Series - Balanced Portfolio - Service Shares (JABS)
2009	0.00	%	150,726	$	17.099722	$	2,577,373	3.12	%	25.58	%
2009	0.10	%	148,713		16.974945		2,524,395	3.12	%	25.46	%
2009	0.20	%	39,203		16.851105		660,614	3.12	%	25.33	%
2009	0.25	%	356,531		16.789471		5,985,967	3.12	%	25.27	%
2008	0.00	%	103,832		13.616425		1,413,821	2.30	%	-16.06	%
2008	0.10	%	82,014		13.530581		1,109,697	2.30	%	-16.14	%
2008	0.20	%	24,988		13.445294		335,971	2.30	%	-16.23	%
2008	0.25	%	213,858		13.402810		2,866,298	2.30	%	-16.27	%
2008	0.40	%	39,051		13.276251		518,451	2.30	%	-16.39	%
2007	0.00	%	103,442		16.221536		1,677,988	2.47	%	10.29	%
2007	0.10	%	71,356		16.135395		1,151,357	2.47	%	10.18	%
2007	0.20	%	69,250		16.049753		1,111,445	2.47	%	10.07	%
2007	0.25	%	193,582		16.007046		3,098,676	2.47	%	10.01	%
2007	0.40	%	133,728		15.879713		2,123,562	2.47	%	9.84	%
2006	0.00	%	116,884		14.708447		1,719,182	1.99	%	10.41	%
2006	0.10	%	8,030		14.645065		117,600	1.99	%	10.30	%
2006	0.20	%	63,792		14.581974		930,213	1.99	%	10.19	%
2006	0.25	%	83,320		14.550491		1,212,347	1.99	%	10.14	%
2006	0.40	%	165,700		14.456527		2,395,447	1.99	%	9.98	%
2005	0.00	%	93,760		13.321108		1,248,987	2.04	%	7.66	%
2005	0.10	%	10,914		13.276935		144,904	2.04	%	7.55	%
2005	0.20	%	261,918		13.232912		3,465,938	2.04	%	7.45	%
2005	0.25	%	53,532		13.210934		707,208	2.04	%	7.39	%
2005	0.40	%	208,740		13.145265		2,743,943	2.04	%	7.23	%
Janus Aspen Series - Forty Portfolio - Service Shares (JACAS)
2009	0.00	%	2,848,502		10.476528		29,842,411	0.01	%	46.01	%
2009	0.10	%	332,343		10.372987		3,447,390	0.01	%	45.87	%
2009	0.20	%	384,661		10.270489		3,950,657	0.01	%	45.72	%
2009	0.25	%	1,893,904		10.219612		19,354,964	0.01	%	45.65	%
2009	0.40	%	13,489		10.068481		135,814	0.01	%	45.43	%
2008	0.00	%	2,977,283		7.174977		21,361,937	0.01	%	-44.31	%
2008	0.10	%	364,911		7.111160		2,594,941	0.01	%	-44.36	%
2008	0.20	%	358,465		7.047942		2,526,441	0.01	%	-44.42	%
2008	0.25	%	1,873,016		7.016534		13,142,080	0.01	%	-44.45	%
2008	0.40	%	73,114		6.923153		506,179	0.01	%	-44.53	%
2007	0.00	%	2,924,576		12.883520		37,678,833	0.19	%	36.63	%
2007	0.10	%	400,482		12.781740		5,118,857	0.19	%	36.50	%
2007	0.20	%	250,814		12.680828		3,180,529	0.19	%	36.36	%
2007	0.25	%	1,592,000		12.630653		20,108,000	0.19	%	36.29	%
2007	0.40	%	59,336		12.481327		740,592	0.19	%	36.09	%
2006	0.00	%	2,885,418		9.429195		27,207,169	0.14	%	9.12	%
2006	0.10	%	124,964		9.364110		1,170,177	0.14	%	9.01	%
2006	0.20	%	291,224		9.299521		2,708,244	0.14	%	8.90	%
2006	0.25	%	1,255,440		9.267372		11,634,630	0.14	%	8.84	%
2006	0.40	%	228,352		9.171618		2,094,357	0.14	%	8.68	%
2005	0.00	%	3,170,060		8.641403		27,393,766	0.01	%	12.56	%
2005	0.10	%	217,972		8.590325		1,872,450	0.01	%	12.44	%
2005	0.20	%	294,576		8.539588		2,515,558	0.01	%	12.33	%
2005	0.25	%	1,090,640		8.514303		9,286,039	0.01	%	12.28	%
2005	0.40	%	217,772		8.438947		1,837,766	0.01	%	12.11	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Janus Aspen Series - Global Technology Portfolio - Service Shares (JAGTS)
2009	0.00	%	1,850,637	$	4.619855	$	8,549,675	0.00	%	56.90	%
2009	0.10	%	337,606		4.574181		1,544,271	0.00	%	56.74	%
2009	0.25	%	388,356		4.506481		1,750,119	0.00	%	56.51	%
2008	0.00	%	2,144,996		2.944514		6,315,971	0.09	%	-43.97	%
2008	0.10	%	319,290		2.918324		931,792	0.09	%	-44.03	%
2008	0.25	%	300,519		2.879447		865,329	0.09	%	-44.11	%
2008	0.40	%	110		2.841109		313	0.09	%	-44.20	%
2007	0.00	%	2,554,744		5.255324		13,426,007	0.34	%	21.70	%
2007	0.10	%	297,474		5.213806		1,550,972	0.34	%	21.58	%
2007	0.25	%	291,228		5.152101		1,500,436	0.34	%	21.39	%
2007	0.40	%	2,106		5.091162		10,722	0.34	%	21.21	%
2006	0.00	%	2,894,560		4.318333		12,499,674	0.00	%	7.83	%
2006	0.10	%	179,882		4.288525		771,428	0.00	%	7.72	%
2006	0.25	%	770,748		4.244167		3,271,183	0.00	%	7.56	%
2006	0.40	%	52		4.200294		218	0.00	%	7.40	%
2005	0.00	%	3,135,014		4.004823		12,555,176	0.00	%	11.55	%
2005	0.10	%	158,528		3.981148		631,123	0.00	%	11.44	%
2005	0.25	%	229,560		3.945872		905,814	0.00	%	11.27	%
2005	0.40	%	8,530		3.910937		33,360	0.00	%	11.11	%
Janus Aspen Series - INTECH Risk-Managed Core Portfolio - Service Shares (JARLCS)
2008	0.00	%	33,622		12.013653		403,923	0.75	%	-36.24	%
2007	0.00	%	26,988		18.842190		508,513	0.49	%	6.13	%
2006	0.00	%	30,204		17.753498		536,227	0.11	%	10.77	%
2005	0.00	%	31,826		16.027544		510,093	1.33	%	10.91	%
Janus Aspen Series - Overseas Portfolio - Service II Shares (JAIGS2)
2009	0.00	%	1,868,731		12.746144		23,819,114	0.43	%	79.07	%
2008	0.00	%	1,692,770		7.117893		12,048,956	2.73	%	-52.21	%
2007	0.00	%	1,653,148		14.893765		24,621,598	0.49	%	28.07	%
2006	0.00	%	754,850		11.629148		8,778,262	1.78	%	16.29	%	5/1/2006
Janus Aspen Series - Overseas Portfolio - Service Shares (JAIGS)
2009	0.00	%	1,339,119		15.910990		21,306,709	0.41	%	79.07	%
2009	0.10	%	374,105		15.753839		5,893,590	0.41	%	78.89	%
2009	0.20	%	1,239,451		15.598133		19,333,122	0.41	%	78.71	%
2009	0.25	%	951,078		15.520876		14,761,564	0.41	%	78.62	%
2008	0.00	%	1,658,237		8.885289		14,733,915	1.05	%	-52.23	%
2008	0.10	%	391,460		8.806322		3,447,323	1.05	%	-52.28	%
2008	0.20	%	1,506,012		8.728004		13,144,479	1.05	%	-52.32	%
2008	0.25	%	973,967		8.689119		8,462,915	1.05	%	-52.35	%
2008	0.40	%	276,653		8.573479		2,371,879	1.05	%	-52.42	%
2007	0.00	%	2,005,464		18.599320		37,300,267	0.44	%	28.02	%
2007	0.10	%	392,780		18.452535		7,247,787	0.44	%	27.89	%
2007	0.20	%	409,154		18.306795		7,490,298	0.44	%	27.76	%
2007	0.25	%	1,103,674		18.234395		20,124,828	0.44	%	27.70	%
2007	0.40	%	4,662		18.018848		84,004	0.44	%	27.50	%
2006	0.00	%	2,503,690		14.528655		36,375,248	1.89	%	46.63	%
2006	0.10	%	206,152		14.428484		2,974,461	1.89	%	46.48	%
2006	0.20	%	351,364		14.328921		5,034,667	1.89	%	46.34	%
2006	0.25	%	1,109,576		14.279422		15,844,104	1.89	%	46.26	%
2006	0.40	%	43,784		14.131910		618,752	1.89	%	46.05	%
2005	0.00	%	2,831,486		9.908475		28,055,708	1.05	%	31.94	%
2005	0.10	%	177,088		9.849961		1,744,310	1.05	%	31.81	%
2005	0.20	%	349,754		9.791747		3,424,703	1.05	%	31.68	%
2005	0.25	%	882,786		9.762789		8,618,453	1.05	%	31.61	%
2005	0.40	%	156,464		9.676381		1,514,005	1.05	%	31.41	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Series Fund - Mid Cap Value Portfolio - Class VC (LOVMCV)
2009	0.00	%	2,510	$	9.785090	$	24,561	0.52	%	26.62	%
2009	0.10	%	56,829		9.739518		553,487	0.52	%	26.49	%
2009	0.25	%	75,007		9.671569		725,435	0.52	%	26.30	%
2008	0.10	%	43,763		7.699923		336,972	1.22	%	-39.42	%
2008	0.25	%	81,281		7.657684		622,424	1.22	%	-39.51	%
2008	0.40	%	9,534		7.615671		72,608	1.22	%	-39.60	%
2007	0.10	%	46,312		12.709507		588,603	0.59	%	0.48	%
2007	0.25	%	87,970		12.658811		1,113,596	0.59	%	0.33	%
2007	0.40	%	14,806		12.608296		186,678	0.59	%	0.18	%
2006	0.25	%	45,876		12.617407		578,836	0.89	%	11.95	%
2006	0.40	%	7,064		12.586028		88,908	0.89	%	11.78	%
2005	0.25	%	19,122		11.270434		215,513	0.52	%	12.70	%	5/2/2005
2005	0.40	%	1,690		11.259238		19,028	0.52	%	12.59	%	5/2/2005
Investors Growth Stock Series - Initial Class (MIGIC)
2009	0.00	%	237,765		13.963862		3,320,118	0.73	%	39.55	%
2008	0.00	%	263,673		10.006089		2,638,336	0.61	%	-36.87	%
2007	0.00	%	289,412		15.850552		4,587,340	0.33	%	11.36	%
2006	0.00	%	314,824		14.233850		4,481,158	0.00	%	7.58	%
2005	0.00	%	291,396		13.231476		3,855,599	0.34	%	4.49	%
Research International Series - Service Class (MVRISC)
2009	0.00	%	1,144		7.940931		9,084	1.26	%	30.57	%
2009	0.25	%	82,984		7.888076		654,584	1.26	%	30.24	%
2008	0.00	%	213		6.081781		1,295	0.06	%	-42.52	%
2008	0.25	%	24,151		6.056428		146,269	0.06	%	-42.67	%
2008	0.40	%	15,870		6.041270		95,875	0.06	%	-42.75	%
2007	0.25	%	128		10.563577		1,352	0.00	%	5.64	%	5/1/2007
2007	0.40	%	772		10.552986		8,147	0.00	%	5.53	%	5/1/2007
Value Series - Initial Class (MVFIC)
2009	0.00	%	438,770		16.390924		7,191,846	1.29	%	22.71	%
2008	0.00	%	406,164		13.356934		5,425,106	1.20	%	-32.58	%
2007	0.00	%	348,380		19.812092		6,902,137	0.87	%	7.91	%
2006	0.00	%	200,260		18.360218		3,676,817	0.97	%	20.84	%
2005	0.00	%	118,172		15.193770		1,795,478	0.73	%	6.66	%
Value Series - Service Class (MVFSC)
2009	0.00	%	46,902		8.096650		379,749	1.17	%	22.45	%
2009	0.25	%	420,507		8.050967		3,385,488	1.17	%	22.15	%
2008	0.00	%	37,486		6.612135		247,862	1.35	%	-32.74	%
2008	0.25	%	270,891		6.591290		1,785,521	1.35	%	-32.91	%
2008	0.40	%	988		6.578814		6,500	1.35	%	-33.01	%
Variable Insurance Trust II - International Value Portfolio - Service Class (MVIVSC)
2009	0.25	%	230,861		13.158607		3,037,809	0.00	%	31.59	%	5/1/2009
Core Plus Fixed Income Portfolio - Class I (MSVFI)
2009	0.00	%	208,669		11.987667		2,501,454	8.83	%	9.64	%
2008	0.00	%	264,578		10.933218		2,892,689	4.73	%	-10.20	%
2007	0.00	%	281,694		12.175696		3,429,821	3.71	%	5.45	%
2006	0.00	%	190,806		11.546094		2,203,064	4.06	%	3.73	%
2005	0.00	%	126,012		11.130805		1,402,615	3.73	%	4.21	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Emerging Markets Debt Portfolio - Class I (MSEM)
2009	0.00	%	190,919	$	25.622719	$	4,891,864	7.90	%	30.21	%
2009	0.10	%	23,721		33.112830		785,469	7.90	%	30.08	%
2009	0.20	%	68,982		25.186305		1,737,402	7.90	%	29.95	%
2009	0.25	%	82,946		25.072181		2,079,637	7.90	%	29.88	%
2008	0.00	%	235,478		19.678201		4,633,783	7.06	%	-14.98	%
2008	0.10	%	32,806		25.456014		835,110	7.06	%	-15.06	%
2008	0.20	%	94,088		19.381729		1,823,588	7.06	%	-15.15	%
2008	0.25	%	83,661		19.303549		1,614,954	7.06	%	-15.19	%
2008	0.40	%	69,947		17.858916		1,249,178	7.06	%	-15.32	%
2007	0.00	%	244,604		23.144388		5,661,210	7.13	%	6.53	%
2007	0.10	%	53,870		29.969902		1,614,479	7.13	%	6.42	%
2007	0.20	%	79,524		22.841354		1,816,436	7.13	%	6.32	%
2007	0.25	%	74,644		22.760599		1,698,942	7.13	%	6.26	%
2007	0.40	%	68,018		21.088867		1,434,423	7.13	%	6.10	%
2006	0.00	%	296,826		21.725302		6,448,634	10.28	%	10.81	%
2006	0.10	%	11,152		28.160613		314,047	10.28	%	10.70	%
2006	0.20	%	74,878		21.483999		1,608,679	10.28	%	10.59	%
2006	0.25	%	49,984		21.418803		1,070,597	10.28	%	10.53	%
2006	0.40	%	81,282		19.875581		1,615,527	10.28	%	10.37	%
2005	0.00	%	306,254		19.606425		6,004,546	7.14	%	12.25	%
2005	0.10	%	17,164		25.439451		436,643	7.14	%	12.14	%
2005	0.20	%	227,212		19.427363		4,414,130	7.14	%	12.03	%
2005	0.25	%	48,476		19.378063		939,371	7.14	%	11.97	%
2005	0.40	%	83,166		18.008789		1,497,719	7.14	%	11.80	%
Mid Cap Growth Portfolio - class I (MSVMG)
2009	0.00	%	2,129		9.640943		20,526	0.00	%	57.66	%
2009	0.10	%	76,530		9.548100		730,716	0.00	%	57.50	%
2009	0.20	%	87,692		9.456210		829,234	0.00	%	57.34	%
2009	0.25	%	839,125		9.410608		7,896,676	0.00	%	57.27	%
2008	0.00	%	240,987		6.115056		1,473,649	0.80	%	-46.77	%
2008	0.10	%	79,376		6.062222		481,195	0.80	%	-46.82	%
2008	0.20	%	24,533		6.009877		147,440	0.80	%	-46.87	%
2008	0.25	%	816,330		5.983894		4,884,832	0.80	%	-46.90	%
2008	0.40	%	22,314		5.906531		131,798	0.80	%	-46.98	%
2007	0.00	%	283,210		11.486951		3,253,219	0.00	%	22.67	%
2007	0.10	%	59,566		11.399129		679,001	0.00	%	22.54	%
2007	0.20	%	20,784		11.312053		235,110	0.00	%	22.42	%
2007	0.25	%	401,714		11.268795		4,526,833	0.00	%	22.36	%
2007	0.40	%	44,500		11.139857		495,724	0.00	%	22.17	%
2006	0.00	%	282,660		9.364438		2,646,952	0.00	%	9.27	%
2006	0.10	%	21,636		9.302196		201,262	0.00	%	9.17	%
2006	0.20	%	26,838		9.240416		247,994	0.00	%	9.06	%
2006	0.25	%	265,862		9.209696		2,448,508	0.00	%	9.00	%
2006	0.40	%	44,880		9.118070		409,219	0.00	%	8.84	%
2005	0.00	%	300,668		8.569610		2,576,607	0.00	%	17.57	%
2005	0.10	%	21,748		8.521148		185,318	0.00	%	17.45	%
2005	0.20	%	20,382		8.473005		172,697	0.00	%	17.33	%
2005	0.25	%	144,664		8.449046		1,222,273	0.00	%	17.28	%
2005	0.40	%	49,068		8.377513		411,068	0.00	%	17.10	%
The Universal Institutional Funds, Inc. - Capital Growth Portfolio - Class I (MSVEG)
2009	0.25	%	45,095		8.406886		379,109	0.00	%	65.14	%
2008	0.25	%	39,408		5.090726		200,615	0.00	%	-49.31	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
U.S. Real Estate Portfolio - Class I (MSVRE)
2009	0.10	%	111,151	$	28.046079	$	3,117,350	4.14	%	28.23	%
2009	0.20	%	142,875		22.726829		3,247,096	4.14	%	28.10	%
2009	0.25	%	640,708		22.623746		14,495,215	4.14	%	28.03	%
2009	0.40	%	585		23.083528		13,504	4.14	%	27.84	%
2008	0.00	%	1,007,215		18.602467		18,736,684	3.40	%	-37.89	%
2008	0.10	%	141,708		21.872227		3,099,470	3.40	%	-37.96	%
2008	0.20	%	136,212		17.741677		2,416,629	3.40	%	-38.02	%
2008	0.25	%	648,045		17.670052		11,450,989	3.40	%	-38.05	%
2008	0.40	%	60,957		18.056248		1,100,655	3.40	%	-38.14	%
2007	0.00	%	1,115,184		29.952335		33,402,365	1.11	%	-17.07	%
2007	0.10	%	183,278		35.252498		6,461,007	1.11	%	-17.15	%
2007	0.20	%	249,376		28.623844		7,138,100	1.11	%	-17.24	%
2007	0.25	%	617,432		28.522644		17,610,793	1.11	%	-17.28	%
2007	0.40	%	172,122		29.190018		5,024,244	1.11	%	-17.40	%
2006	0.00	%	1,384,756		36.117848		50,014,407	1.07	%	38.04	%
2006	0.10	%	109,384		42.551820		4,654,488	1.07	%	37.91	%
2006	0.20	%	324,820		34.585436		11,234,041	1.07	%	37.77	%
2006	0.25	%	709,670		34.480507		24,469,781	1.07	%	37.70	%
2006	0.40	%	290,660		35.340571		10,272,090	1.07	%	37.50	%
2005	0.00	%	1,409,392		26.163932		36,875,236	1.19	%	17.05	%
2005	0.10	%	125,524		30.855447		3,873,099	1.19	%	16.93	%
2005	0.20	%	250,510		25.103798		6,288,752	1.19	%	16.82	%
2005	0.25	%	546,448		25.040093		13,683,109	1.19	%	16.76	%
2005	0.40	%	377,610		25.703042		9,705,726	1.19	%	16.59	%
AllianceBernstein NVIT Global Fixed Income Fund - Class III (NVAGF3)
2009	0.00	%	23,143		11.419071		264,272	5.26	%	14.19	%	5/1/2009
American Century NVIT Multi Cap Value Fund - Class I (NVAMV1)
2009	0.00	%	2,210		12.564442		27,767	1.25	%	25.64	%	5/1/2009
American Funds NVIT Asset Allocation Fund - Class II (GVAAA2)
2009	0.00	%	405,011		9.711378		3,933,215	0.08	%	23.41	%
2008	0.00	%	395,090		7.868935		3,108,938	2.59	%	-29.78	%
2007	0.00	%	340,142		11.205324		3,811,401	2.43	%	6.14	%
2006	0.00	%	166,024		10.556998		1,752,715	3.37	%	5.57	%	5/1/2006
American Funds NVIT Bond Fund - Class II (GVABD2)
2009	0.00	%	248,317		10.970085		2,724,059	0.32	%	12.15	%
2008	0.00	%	253,508		9.781713		2,479,742	5.43	%	-9.87	%
2007	0.00	%	223,108		10.853118		2,421,417	8.46	%	2.98	%
2006	0.00	%	70,612		10.538858		744,170	0.90	%	5.39	%	5/1/2006
American Funds NVIT Global Growth Fund - Class II (GVAGG2)
2009	0.00	%	536,732		10.774250		5,782,885	0.00	%	41.60	%
2008	0.00	%	518,855		7.608765		3,947,846	2.78	%	-38.64	%
2007	0.00	%	451,322		12.399481		5,596,159	2.98	%	14.36	%
2006	0.00	%	150,826		10.842096		1,635,270	0.23	%	8.42	%	5/1/2006
American Funds NVIT Growth Fund - Class II (GVAGR2)
2009	0.00	%	789,242		8.979238		7,086,792	0.00	%	38.78	%
2008	0.00	%	801,346		6.470039		5,184,740	2.15	%	-44.21	%
2007	0.00	%	610,966		11.597638		7,085,762	0.75	%	11.90	%
2006	0.00	%	168,526		10.364424		1,746,675	1.12	%	3.64	%	5/1/2006
American Funds NVIT Growth-Income Fund - Class II (GVAGI2)
2009	0.00	%	290,258		8.007342		2,324,195	0.00	%	30.69	%
2008	0.00	%	232,982		6.126963		1,427,472	2.61	%	-38.06	%
2007	0.00	%	94,768		9.892316		937,475	2.46	%	-1.08	%	5/1/2007

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Federated NVIT High Income Bond Fund - Class I (HIBF)
2009	0.00	%	248,681	$	17.804842	$	4,427,726	9.89	%	46.00	%
2009	0.10	%	62,774		16.070122		1,008,786	9.89	%	45.85	%
2009	0.20	%	79,750		17.985742		1,434,363	9.89	%	45.71	%
2009	0.25	%	790,244		17.904242		14,148,720	9.89	%	45.63	%
2009	0.40	%	9,813		16.184733		158,821	9.89	%	45.41	%
2008	0.00	%	312,224		12.195368		3,807,687	9.24	%	-27.99	%
2008	0.10	%	56,513		11.018160		622,669	9.24	%	-28.06	%
2008	0.20	%	70,677		12.343884		872,429	9.24	%	-28.13	%
2008	0.25	%	629,259		12.294086		7,736,164	9.24	%	-28.17	%
2008	0.40	%	197,959		11.130031		2,203,290	9.24	%	-28.28	%
2007	0.00	%	650,262		16.935434		11,012,469	7.29	%	3.13	%
2007	0.10	%	47,480		15.315998		727,204	7.29	%	3.03	%
2007	0.20	%	69,190		17.176023		1,188,409	7.29	%	2.93	%
2007	0.25	%	419,204		17.115297		7,174,801	7.29	%	2.88	%
2007	0.40	%	205,334		15.518038		3,186,381	7.29	%	2.72	%
2006	0.00	%	882,542		16.420739		14,491,992	7.41	%	10.60	%
2006	0.10	%	9,510		14.865456		141,370	7.41	%	10.49	%
2006	0.20	%	61,806		16.687538		1,031,390	7.41	%	10.38	%
2006	0.25	%	370,802		16.636894		6,168,994	7.41	%	10.33	%
2006	0.40	%	230,582		15.107048		3,483,413	7.41	%	10.16	%
2005	0.00	%	1,047,212		14.846585		15,547,522	6.92	%	2.38	%
2005	0.10	%	25,760		13.453811		346,570	6.92	%	2.28	%
2005	0.20	%	75,410		15.117925		1,140,043	6.92	%	2.18	%
2005	0.25	%	204,814		15.079557		3,088,504	6.92	%	2.13	%
2005	0.40	%	224,370		13.713412		3,076,878	6.92	%	1.97	%
Federated NVIT High Income Bond Fund - Class III (HIBF3)
2009	0.00	%	949,161		12.632602		11,990,373	10.36	%	46.08	%
2008	0.00	%	707,956		8.647843		6,122,292	8.18	%	-28.10	%
2007	0.00	%	1,316,814		12.027193		15,837,576	7.98	%	3.17	%
2006	0.00	%	701,700		11.657910		8,180,355	7.85	%	10.60	%
2005	0.00	%	429,384		10.540776		4,526,041	6.02	%	5.41	%	5/2/2005
Gartmore NVIT Emerging Markets Fund - Class I (GEM)
2009	0.00	%	129,828		25.446836		3,303,712	1.36	%	63.31	%
2009	0.10	%	153,669		25.212581		3,874,392	1.36	%	63.15	%
2009	0.20	%	362,310		24.980405		9,050,651	1.36	%	62.99	%
2009	0.25	%	493,823		24.865174		12,278,995	1.36	%	62.91	%
2009	0.40	%	100		24.522567		2,452	1.36	%	62.66	%
2008	0.00	%	149,822		15.581599		2,334,466	1.16	%	-57.76	%
2008	0.10	%	140,572		15.453591		2,172,342	1.16	%	-57.80	%
2008	0.20	%	249,942		15.326599		3,830,761	1.16	%	-57.85	%
2008	0.25	%	421,621		15.263531		6,435,425	1.16	%	-57.87	%
2008	0.40	%	247,183		15.075807		3,726,483	1.16	%	-57.93	%
2007	0.00	%	204,784		36.889137		7,554,305	0.71	%	45.58	%
2007	0.10	%	146,372		36.622841		5,360,558	0.71	%	45.43	%
2007	0.20	%	410,876		36.358404		14,938,796	0.71	%	45.29	%
2007	0.25	%	406,344		36.226972		14,720,613	0.71	%	45.21	%
2007	0.40	%	273,120		35.835395		9,787,363	0.71	%	44.99	%
2006	0.00	%	270,924		25.339713		6,865,136	0.71	%	36.72	%
2006	0.10	%	48,516		25.182064		1,221,733	0.71	%	36.58	%
2006	0.20	%	258,760		25.025345		6,475,558	0.71	%	36.45	%
2006	0.25	%	300,448		24.947405		7,495,398	0.71	%	36.38	%
2006	0.40	%	316,790		24.714946		7,829,448	0.71	%	36.17	%
2005	0.00	%	369,062		18.534273		6,840,296	0.60	%	32.64	%
2005	0.10	%	51,076		18.437333		941,705	0.60	%	32.50	%
2005	0.20	%	169,786		18.340864		3,114,022	0.60	%	32.37	%
2005	0.25	%	198,760		18.292860		3,635,889	0.60	%	32.31	%
2005	0.40	%	150,756		18.149525		2,736,150	0.60	%	32.11	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Gartmore NVIT Emerging Markets Fund - Class III (GEM3)
2009	0.00	%	818,029	$	18.287102	$	14,959,380	1.28	%	63.48	%
2008	0.00	%	811,502		11.185864		9,077,351	1.15	%	-57.83	%
2007	0.00	%	938,196		26.524857		24,885,515	0.72	%	45.55	%
2006	0.00	%	714,108		18.224168		13,014,024	0.72	%	36.64	%
2005	0.00	%	462,520		13.336908		6,168,587	0.20	%	33.37	%	5/2/2005
Gartmore NVIT Global Utilities Fund - Class I (GVGU1)
2009	0.00	%	91,226		17.873386		1,630,518	3.96	%	8.01	%
2009	0.10	%	30,519		17.736871		541,312	3.96	%	7.90	%
2009	0.25	%	35,222		17.534069		617,585	3.96	%	7.74	%
2008	0.00	%	121,284		16.548066		2,007,016	3.05	%	-32.94	%
2008	0.10	%	36,003		16.438112		591,821	3.05	%	-33.01	%
2008	0.25	%	32,066		16.274553		521,860	3.05	%	-33.11	%
2007	0.00	%	177,796		24.676248		4,387,338	2.57	%	20.43	%
2007	0.10	%	44,916		24.536865		1,102,098	2.57	%	20.31	%
2007	0.25	%	27,478		24.329252		668,519	2.57	%	20.13	%
2006	0.00	%	178,132		20.489395		3,649,817	2.84	%	37.56	%
2006	0.10	%	11,378		20.394132		232,044	2.84	%	37.42	%
2006	0.25	%	20,796		20.252066		421,162	2.84	%	37.22	%
2006	0.40	%	2,542		20.110980		51,122	2.84	%	37.01	%
2005	0.00	%	118,088		14.894755		1,758,892	2.09	%	6.39	%
2005	0.10	%	16,528		14.840284		245,280	2.09	%	6.28	%
2005	0.25	%	15,934		14.758947		235,169	2.09	%	6.12	%
2005	0.40	%	2,742		14.678049		40,247	2.09	%	5.96	%
Gartmore NVIT International Equity Fund - Class I (GIG)
2009	0.00	%	275,076		11.949736		3,287,086	1.09	%	29.72	%
2009	0.10	%	87,077		11.839714		1,030,967	1.09	%	29.59	%
2009	0.25	%	98,498		11.676578		1,150,120	1.09	%	29.40	%
2008	0.00	%	457,734		9.211762		4,216,537	1.36	%	-46.06	%
2008	0.10	%	91,345		9.136079		834,535	1.36	%	-46.11	%
2008	0.25	%	107,083		9.023725		966,288	1.36	%	-46.19	%
2008	0.40	%	722		8.912712		6,435	1.36	%	-46.27	%
2007	0.00	%	522,056		17.076402		8,914,838	0.38	%	27.15	%
2007	0.10	%	180,062		16.953079		3,052,605	0.38	%	27.02	%
2007	0.25	%	36,532		16.769826		612,635	0.38	%	26.83	%
2006	0.00	%	554,752		13.430598		7,450,651	0.84	%	32.96	%
2006	0.10	%	109,564		13.347009		1,462,352	0.84	%	32.83	%
2006	0.25	%	55,980		13.222655		740,204	0.84	%	32.63	%
2006	0.40	%	416		13.099372		5,449	0.84	%	32.44	%
2005	0.00	%	203,318		10.100861		2,053,687	1.10	%	30.21	%
2005	0.10	%	96,242		10.048006		967,040	1.10	%	30.08	%
2005	0.25	%	54,480		9.969281		543,126	1.10	%	29.89	%
2005	0.40	%	4		9.891115		40	1.10	%	29.69	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Gartmore NVIT International Equity Fund - Class III (GIG3)
2009	0.00	%	516,240	$	7.153834	$	3,693,095	0.22	%	29.67	%
2008	0.00	%	24,803		5.516874		136,835	1.55	%	-44.83	%	5/1/2008
Gartmore NVIT International Equity Fund - Class VI (NVIE6)
2009	0.00	%	70,672		7.130177		503,904	0.24	%	29.45	%
2008	0.00	%	6,719		5.508000		37,008	1.45	%	-44.92	%	5/1/2008
Gartmore NVIT Worldwide Leaders Fund - Class I (GEF)
2009	0.00	%	206,712		15.340444		3,171,054	1.06	%	25.00	%
2009	0.10	%	47,322		12.341792		584,038	1.06	%	24.88	%
2009	0.25	%	13,605		12.052893		163,980	1.06	%	24.69	%
2008	0.00	%	216,990		12.271930		2,662,886	0.73	%	-44.34	%
2008	0.10	%	54,435		9.882968		537,979	0.73	%	-44.40	%
2008	0.25	%	13,713		9.666117		132,551	0.73	%	-44.48	%
2007	0.00	%	250,388		22.048358		5,520,644	0.41	%	19.90	%
2007	0.10	%	109,004		17.774048		1,937,442	0.41	%	19.78	%
2007	0.25	%	14,992		17.410223		261,014	0.41	%	19.60	%
2006	0.00	%	249,376		18.389109		4,585,802	0.85	%	25.88	%
2006	0.10	%	64,922		14.839096		963,384	0.85	%	25.76	%
2006	0.25	%	13,250		14.557271		192,884	0.85	%	25.57	%
2006	0.40	%	24		15.509710		372	0.85	%	25.38	%
2005	0.00	%	262,448		14.608344		3,833,931	1.11	%	19.34	%
2005	0.10	%	79,212		11.799959		934,698	1.11	%	19.22	%
2005	0.25	%	12,984		11.593174		150,526	1.11	%	19.04	%
2005	0.40	%	78		12.370181		965	1.11	%	18.86	%
Gartmore NVIT Worldwide Leaders Fund - Class III (GEF3)
2009	0.00	%	1,087		13.411529		14,578	1.12	%	34.12	%	5/1/2009
Neuberger Berman NVIT Multi Cap Opportunities Fund - Class I (NVNMO1)
2009	0.00	%	1,906,534		7.927018		15,113,129	0.18	%	52.96	%
2008	0.00	%	180		5.182412		933	0.00	%	-48.18	%	5/1/2008
Neuberger Berman NVIT Socially Responsible Fund - Class I (NVNSR1)
2009	0.00	%	21,943		8.126831		178,327	0.37	%	31.53	%
2008	0.00	%	5,037		6.178465		31,121	0.45	%	-38.22	%	5/1/2008
NVIT Cardinal Aggressive Fund - Class I (NVCRA1)
2009	0.00	%	42,686		8.295819		354,115	1.03	%	29.30	%
2009	0.25	%	132		12.924011		1,706	1.03	%	29.24	%	5/1/2009
2008	0.00	%	43,904		6.416027		281,689	2.01	%	-35.84	%	5/1/2008
NVIT Cardinal Balanced Fund - Class I (NVCRB1)
2009	0.00	%	90,417		9.593104		867,380	2.22	%	19.88	%
2009	0.25	%	6		11.777952		71	2.22	%	17.78	%	5/1/2009
2008	0.00	%	65,101		8.002099		520,945	2.15	%	-19.98	%	5/1/2008
NVIT Cardinal Capital Appreciation Fund - Class I (NVCCA1)
2009	0.00	%	172,546		9.025006		1,557,229	1.99	%	24.25	%
2008	0.00	%	71,014		7.263571		515,815	1.50	%	-27.36	%	5/1/2008
NVIT Cardinal Conservative Fund - Class I (NVCCN1)
2009	0.00	%	89,148		10.351566		922,821	2.79	%	13.22	%
2008	0.00	%	32,838		9.142885		300,234	1.40	%	-8.57	%	5/1/2008
NVIT Cardinal Moderate Fund - Class I (NVCMD1)
2009	0.00	%	241,583		9.305236		2,247,987	2.29	%	22.00	%
2008	0.00	%	83,184		7.626933		634,439	2.04	%	-23.73	%	5/1/2008
NVIT Cardinal Moderately Aggressive Fund - Class I (NVCMA1)
2009	0.00	%	345,676		8.737590		3,020,375	1.60	%	26.69	%
2009	0.25	%	11		12.566486		138	1.60	%	25.66	%	5/1/2009
2008	0.00	%	223,705		6.896919		1,542,875	1.52	%	-31.03	%	5/1/2008
NVIT Cardinal Moderately Conservative Fund - Class I (NVCMC1)
2009	0.00	%	66,327		9.853071		653,525	2.50	%	17.64	%
2008	0.00	%	33,824		8.375935		283,308	2.14	%	-16.24	%	5/1/2008
NVIT Core Bond Fund - Class I (NVCBD1)
2009	0.00	%	56,157		10.818752		607,549	2.99	%	8.78	%
2008	0.00	%	21,176		9.945181		210,599	4.53	%	-0.55	%	5/1/2008

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Core Plus Bond Fund - Class I (NVLCP1)
2009	0.00	%	21,838	$	11.600708	$	253,336	4.05	%	16.62	%
2008	0.00	%	13,545		9.947099		134,733	3.73	%	-0.53	%	5/1/2008
NVIT Fund - Class I (TRF)
2009	0.00	%	2,358,784		12.269388		28,940,836	1.35	%	26.10	%
2009	0.10	%	27,862,777		10.080498		280,870,668	1.35	%	25.97	%
2009	0.20	%	72,093		9.807872		707,079	1.35	%	25.84	%
2009	0.25	%	42,014		9.763407		410,200	1.35	%	25.78	%
2008	0.00	%	2,528,801		9.730137		24,605,580	1.41	%	-41.55	%
2008	0.10	%	28,106,065		8.002258		224,911,983	1.41	%	-41.61	%
2008	0.20	%	56,085		7.793622		437,105	1.41	%	-41.67	%
2008	0.25	%	46,732		7.762178		362,742	1.41	%	-41.70	%
2008	0.40	%	798		8.031680		6,409	1.41	%	-41.79	%
2007	0.00	%	2,766,768		16.648158		46,061,591	1.03	%	8.18	%
2007	0.10	%	28,344,872		13.705507		388,480,842	1.03	%	8.07	%
2007	0.20	%	50,032		13.361574		668,506	1.03	%	7.96	%
2007	0.25	%	52,394		13.314351		697,592	1.03	%	7.91	%
2007	0.40	%	1,370		13.797367		18,902	1.03	%	7.75	%
2006	0.00	%	2,948,242		15.389126		45,370,868	1.09	%	13.63	%
2006	0.10	%	37,804,244		12.681766		479,424,576	1.09	%	13.51	%
2006	0.20	%	49,380		12.375964		611,125	1.09	%	13.40	%
2006	0.25	%	236,736		12.338411		2,920,946	1.09	%	13.34	%
2006	0.40	%	31,470		12.805324		402,984	1.09	%	13.18	%
2005	0.00	%	3,161,412		13.543467		42,816,479	1.00	%	7.44	%
2005	0.10	%	38,013,326		11.171952		424,683,053	1.00	%	7.33	%
2005	0.20	%	56,248		10.913424		613,858	1.00	%	7.23	%
2005	0.25	%	230,206		10.885739		2,505,962	1.00	%	7.17	%
2005	0.40	%	28,310		11.314587		320,316	1.00	%	7.01	%
NVIT Global Financial Services Fund - Class I (GVGF1)
2009	0.00	%	81,891		13.889643		1,137,437	1.15	%	31.75	%
2009	0.10	%	49,431		13.783502		681,332	1.15	%	31.62	%
2009	0.25	%	26,749		13.625762		364,476	1.15	%	31.42	%
2008	0.00	%	94,761		10.542078		998,978	1.83	%	-46.27	%
2008	0.10	%	40,964		10.471992		428,975	1.83	%	-46.33	%
2008	0.25	%	36,230		10.367711		375,622	1.83	%	-46.41	%
2007	0.00	%	93,918		19.621675		1,842,828	3.45	%	-1.05	%
2007	0.10	%	104,978		19.510815		2,048,206	3.45	%	-1.15	%
2007	0.25	%	38,992		19.345657		754,326	3.45	%	-1.30	%
2006	0.00	%	113,986		19.830405		2,260,389	1.89	%	20.32	%
2006	0.10	%	98,040		19.738206		1,935,134	1.89	%	20.20	%
2006	0.25	%	30,252		19.600661		592,959	1.89	%	20.02	%
2006	0.40	%	5,096		19.464132		99,189	1.89	%	19.84	%
2005	0.00	%	105,354		16.481268		1,736,368	2.00	%	11.15	%
2005	0.10	%	69,072		16.420998		1,134,231	2.00	%	11.04	%
2005	0.25	%	24,048		16.330978		392,727	2.00	%	10.87	%
2005	0.40	%	3,938		16.241486		63,959	2.00	%	10.71	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Government Bond Fund - Class I (GBF)
2009	0.00	%	2,155,474	$	18.980932	$	40,912,905	3.40	%	2.69	%
2009	0.10	%	172,188		17.477068		3,009,341	3.40	%	2.59	%
2009	0.20	%	1,080,876		15.868375		17,151,746	3.40	%	2.48	%
2009	0.25	%	3,410,676		15.796520		53,876,812	3.40	%	2.43	%
2009	0.40	%	15,678		17.785926		278,848	3.40	%	2.28	%
2008	0.00	%	2,666,781		18.484063		49,292,948	4.28	%	7.72	%
2008	0.10	%	149,239		17.036588		2,542,523	4.28	%	7.61	%
2008	0.20	%	1,179,027		15.483913		18,255,951	4.28	%	7.50	%
2008	0.25	%	3,301,654		15.421502		50,916,464	4.28	%	7.45	%
2008	0.40	%	485,177		17.389732		8,437,098	4.28	%	7.29	%
2007	0.00	%	2,247,294		17.159530		38,562,509	4.48	%	7.16	%
2007	0.10	%	160,904		15.831585		2,547,365	4.48	%	7.05	%
2007	0.20	%	717,380		14.403124		10,332,513	4.48	%	6.94	%
2007	0.25	%	3,004,026		14.352245		43,114,517	4.48	%	6.89	%
2007	0.40	%	440,784		16.208282		7,144,351	4.48	%	6.73	%
2006	0.00	%	2,428,156		16.013288		38,882,761	3.95	%	3.34	%
2006	0.10	%	78,218		14.788907		1,156,759	3.95	%	3.24	%
2006	0.20	%	826,566		13.468059		11,132,240	3.95	%	3.14	%
2006	0.25	%	3,008,954		13.427221		40,401,890	3.95	%	3.08	%
2006	0.40	%	445,662		15.186518		6,768,054	3.95	%	2.93	%
2005	0.00	%	3,195,842		15.495567		49,521,384	3.71	%	3.26	%
2005	0.10	%	100,704		14.325057		1,442,591	3.71	%	3.16	%
2005	0.20	%	1,941,614		13.058642		25,354,842	3.71	%	3.06	%
2005	0.25	%	3,496,292		13.025536		45,541,077	3.71	%	3.01	%
2005	0.40	%	800,072		14.754249		11,804,462	3.71	%	2.85	%
NVIT Growth Fund - Class I (CAF)
2009	0.00	%	1,493,205		8.097149		12,090,703	0.55	%	33.47	%
2009	0.10	%	389,073		6.104552		2,375,116	0.55	%	33.34	%
2009	0.20	%	83,427		7.806410		651,265	0.55	%	33.20	%
2009	0.25	%	5,496		7.771001		42,709	0.55	%	33.14	%
2008	0.00	%	1,603,390		6.066573		9,727,082	0.28	%	-38.71	%
2008	0.10	%	208,878		4.578246		956,295	0.28	%	-38.77	%
2008	0.20	%	99,363		5.860450		582,312	0.28	%	-38.83	%
2008	0.25	%	8,138		5.836782		47,500	0.28	%	-38.86	%
2007	0.00	%	1,726,074		9.897441		17,083,716	0.18	%	19.54	%
2007	0.10	%	226,134		7.476755		1,690,749	0.18	%	19.42	%
2007	0.20	%	76,332		9.580341		731,287	0.18	%	19.30	%
2007	0.25	%	8,184		9.546438		78,128	0.18	%	19.24	%
2006	0.00	%	1,876,832		8.279324		15,538,900	0.05	%	6.17	%
2006	0.10	%	51,726		6.260681		323,840	0.05	%	6.06	%
2006	0.20	%	67,782		8.030198		544,303	0.05	%	5.96	%
2006	0.25	%	45,366		8.005797		363,191	0.05	%	5.90	%
2006	0.40	%	4		6.904680		28	0.05	%	5.75	%
2005	0.00	%	1,986,938		7.798327		15,494,792	0.08	%	6.50	%
2005	0.10	%	59,854		5.902844		353,309	0.08	%	6.39	%
2005	0.20	%	60,144		7.578777		455,818	0.08	%	6.29	%
2005	0.25	%	40,952		7.559516		309,577	0.08	%	6.24	%
2005	0.40	%	3,778		6.529541		24,669	0.08	%	6.08	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Health Sciences Fund - Class I (GVGH1)
2009	0.00	%	62,420	$	13.810897	$	862,076	0.29	%	19.16	%
2009	0.10	%	90,762		13.705345		1,243,925	0.29	%	19.04	%
2009	0.25	%	57,752		13.548576		782,457	0.29	%	18.87	%
2008	0.00	%	84,235		11.589966		976,281	0.26	%	-25.21	%
2008	0.10	%	81,523		11.512893		938,566	0.26	%	-25.29	%
2008	0.25	%	59,035		11.398285		672,898	0.26	%	-25.40	%
2008	0.40	%	207		11.284830		2,336	0.26	%	-25.51	%
2007	0.00	%	101,446		15.497697		1,572,179	0.07	%	13.16	%
2007	0.10	%	52,696		15.410067		812,049	0.07	%	13.05	%
2007	0.20	%	90,084		15.322977		1,380,355	0.07	%	12.93	%
2007	0.25	%	57,456		15.279611		877,905	0.07	%	12.88	%
2007	0.40	%	2,882		15.150267		43,663	0.07	%	12.71	%
2006	0.00	%	124,614		13.695316		1,706,628	0.00	%	2.71	%
2006	0.10	%	13,596		13.631572		185,335	0.00	%	2.61	%
2006	0.20	%	72,832		13.568156		988,196	0.00	%	2.50	%
2006	0.25	%	29,942		13.536569		405,312	0.00	%	2.45	%
2006	0.40	%	18,258		13.442227		245,428	0.00	%	2.30	%
2005	0.00	%	194,488		13.334230		2,593,348	0.00	%	8.44	%
2005	0.10	%	20,710		13.285419		275,141	0.00	%	8.33	%
2005	0.20	%	62,816		13.236814		831,484	0.00	%	8.22	%
2005	0.25	%	27,596		13.212593		364,615	0.00	%	8.17	%
2005	0.40	%	13,866		13.140144		182,201	0.00	%	8.01	%
NVIT Health Sciences Fund - Class III (GVGHS)
2009	0.00	%	222,948		11.124833		2,480,259	0.28	%	19.11	%
2008	0.00	%	260,983		9.339799		2,437,529	0.29	%	-25.23	%
2007	0.00	%	210,752		12.491648		2,632,640	0.07	%	13.23	%
2006	0.00	%	212,658		11.032385		2,346,125	0.00	%	2.70	%
2005	0.00	%	128,282		10.742057		1,378,013	0.00	%	7.42	%	5/2/2005
NVIT International Index Fund - Class II (GVIX2)
2009	0.00	%	30,419		7.413670		225,516	2.43	%	28.58	%
2009	0.25	%	468,130		7.364341		3,447,469	2.43	%	28.26	%
2008	0.00	%	592		5.765640		3,413	1.66	%	-43.11	%
2008	0.25	%	37,630		5.741605		216,057	1.66	%	-43.25	%
2008	0.40	%	76,167		5.727230		436,226	1.66	%	-43.34	%
2007	0.25	%	164,488		10.117465		1,664,202	3.21	%	1.17	%	5/1/2007
2007	0.40	%	55,246		10.107323		558,389	3.21	%	1.07	%	5/1/2007
2006	0.00	%	134,862		23.062454		3,110,249	2.07	%	22.67	%
2005	0.00	%	175,520		18.800450		3,299,855	1.31	%	12.09	%
NVIT International Index Fund - Class VI (GVIX6)
2009	0.00	%	65,290		8.793694		574,140	2.61	%	28.62	%
2008	0.00	%	71,845		6.837123		491,213	2.06	%	-43.11	%
2007	0.00	%	53,368		12.017667		641,359	1.67	%	9.50	%
2006	0.00	%	20,334		10.975279		223,171	1.50	%	9.75	%	5/1/2006

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Investor Destinations Aggressive Fund - Class II (GVIDA)
2009	0.00	%	1,378,139	$	13.451838	$	18,538,503	1.09	%	27.21	%
2009	0.10	%	141,202		13.345564		1,884,420	1.09	%	27.08	%
2009	0.20	%	196,053		13.240124		2,595,766	1.09	%	26.95	%
2009	0.25	%	342,826		13.187693		4,521,084	1.09	%	26.89	%
2009	0.40	%	897		13.031705		11,689	1.09	%	26.70	%
2008	0.00	%	1,362,477		10.574854		14,407,995	2.07	%	-36.84	%
2008	0.10	%	206,669		10.501810		2,170,399	2.07	%	-36.91	%
2008	0.20	%	190,819		10.429261		1,990,101	2.07	%	-36.97	%
2008	0.25	%	234,097		10.393146		2,433,004	2.07	%	-37.00	%
2008	0.40	%	82,666		10.285643		850,273	2.07	%	-37.10	%
2007	0.00	%	1,376,510		16.743624		23,047,766	2.03	%	5.96	%
2007	0.10	%	211,970		16.644647		3,528,166	2.03	%	5.85	%
2007	0.20	%	198,282		16.546241		3,280,822	2.03	%	5.75	%
2007	0.25	%	160,792		16.497208		2,652,619	2.03	%	5.69	%
2007	0.40	%	157,686		16.351146		2,578,347	2.03	%	5.53	%
2006	0.00	%	1,105,550		15.802084		17,469,994	2.11	%	16.87	%
2006	0.10	%	23,050		15.724474		362,449	2.11	%	16.75	%
2006	0.20	%	211,872		15.647232		3,315,210	2.11	%	16.64	%
2006	0.25	%	77,654		15.608708		1,212,079	2.11	%	16.58	%
2006	0.40	%	171,634		15.493861		2,659,273	2.11	%	16.40	%
2005	0.00	%	1,044,556		13.521320		14,123,776	2.02	%	7.93	%
2005	0.10	%	24,154		13.468331		325,314	2.02	%	7.82	%
2005	0.20	%	170,910		13.415540		2,292,850	2.02	%	7.72	%
2005	0.25	%	24,354		13.389188		326,080	2.02	%	7.66	%
2005	0.40	%	104,554		13.310555		1,391,672	2.02	%	7.50	%
NVIT Investor Destinations Balanced Fund - Class II (NVDBL2)
2009	0.00	%	1,883		11.640280		21,919	0.87	%	16.40	%	5/1/2009
NVIT Investor Destinations Capital Appreciation Fund - Class II (NVDCA2)
2009	0.00	%	10,225		12.204484		124,791	0.71	%	22.04	%	5/1/2009

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Investor Destinations Conservative Fund - Class II (GVIDC)
2009	0.00	%	787,357	$	13.447193	$	10,587,742	1.73	%	9.08	%
2009	0.10	%	35,939		13.340983		479,462	1.73	%	8.98	%
2009	0.20	%	103,310		13.235577		1,367,367	1.73	%	8.87	%
2009	0.25	%	189,396		13.183237		2,496,852	1.73	%	8.81	%
2009	0.40	%	658		13.027295		8,572	1.73	%	8.65	%
2008	0.00	%	746,175		12.327359		9,198,367	3.88	%	-6.02	%
2008	0.10	%	36,290		12.242222		444,270	3.88	%	-6.12	%
2008	0.20	%	72,139		12.157648		877,041	3.88	%	-6.21	%
2008	0.25	%	508,679		12.115615		6,162,959	3.88	%	-6.26	%
2008	0.40	%	713,252		11.990270		8,552,084	3.88	%	-6.40	%
2007	0.00	%	621,536		13.117367		8,152,916	3.54	%	5.38	%
2007	0.10	%	35,914		13.039806		468,312	3.54	%	5.28	%
2007	0.20	%	28,608		12.962685		370,836	3.54	%	5.17	%
2007	0.25	%	332,180		12.924331		4,293,204	3.54	%	5.12	%
2007	0.40	%	106,108		12.809833		1,359,226	3.54	%	4.96	%
2006	0.00	%	628,508		12.447546		7,823,382	3.23	%	6.16	%
2006	0.10	%	26,518		12.386397		328,462	3.23	%	6.06	%
2006	0.20	%	22,320		12.325531		275,106	3.23	%	5.95	%
2006	0.25	%	287,996		12.295233		3,540,978	3.23	%	5.90	%
2006	0.40	%	92,396		12.204705		1,127,666	3.23	%	5.74	%
2005	0.00	%	706,430		11.724859		8,282,792	2.49	%	3.31	%
2005	0.10	%	29,088		11.678890		339,716	2.49	%	3.20	%
2005	0.20	%	34,084		11.633095		396,502	2.49	%	3.10	%
2005	0.25	%	4,440		11.610294		51,550	2.49	%	3.05	%
2005	0.40	%	49,050		11.542054		566,138	2.49	%	2.90	%
NVIT Investor Destinations Moderate Fund - Class II (GVIDM)
2009	0.00	%	4,458,884		13.630962		60,778,878	1.56	%	19.14	%
2009	0.10	%	144,450		13.523280		1,953,438	1.56	%	19.02	%
2009	0.20	%	480,252		13.416419		6,443,262	1.56	%	18.90	%
2009	0.25	%	863,030		13.363298		11,532,927	1.56	%	18.84	%
2009	0.40	%	2,599		13.205276		34,321	1.56	%	18.66	%
2008	0.00	%	3,933,503		11.441586		45,005,513	2.82	%	-23.20	%
2008	0.10	%	117,688		11.362546		1,337,235	2.82	%	-23.27	%
2008	0.20	%	205,224		11.284040		2,315,756	2.82	%	-23.35	%
2008	0.25	%	551,789		11.244982		6,204,857	2.82	%	-23.39	%
2008	0.40	%	189,624		11.128694		2,110,267	2.82	%	-23.50	%
2007	0.00	%	3,877,166		14.896957		57,757,975	2.71	%	5.66	%
2007	0.10	%	117,560		14.808865		1,740,930	2.71	%	5.55	%
2007	0.20	%	221,366		14.721295		3,258,794	2.71	%	5.45	%
2007	0.25	%	341,144		14.677673		5,007,200	2.71	%	5.39	%
2007	0.40	%	384,024		14.547724		5,586,675	2.71	%	5.24	%
2006	0.00	%	3,554,252		14.099052		50,111,584	2.47	%	11.35	%
2006	0.10	%	1,864		14.029768		26,151	2.47	%	11.24	%
2006	0.20	%	206,458		13.960840		2,882,327	2.47	%	11.13	%
2006	0.25	%	161,088		13.926464		2,243,386	2.47	%	11.08	%
2006	0.40	%	490,632		13.823999		6,782,496	2.47	%	10.91	%
2005	0.00	%	3,150,642		12.661618		39,892,225	2.39	%	5.34	%
2005	0.10	%	1,874		12.611956		23,635	2.39	%	5.24	%
2005	0.20	%	114,016		12.562517		1,432,328	2.39	%	5.13	%
2005	0.25	%	31,934		12.537840		400,383	2.39	%	5.08	%
2005	0.40	%	390,100		12.464210		4,862,288	2.39	%	4.92	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Investor Destinations Moderately Aggressive Fund - Class II (GVDMA)
2009	0.00	%	4,600,411	$	13.702388	$	63,036,616	1.31	%	24.39	%
2009	0.10	%	218,272		13.594088		2,967,209	1.31	%	24.27	%
2009	0.20	%	44,938		13.486671		606,064	1.31	%	24.14	%
2009	0.25	%	474,675		13.433301		6,376,452	1.31	%	24.08	%
2009	0.40	%	20		13.274448		265	1.31	%	23.90	%
2008	0.00	%	4,832,634		11.015454		53,233,658	2.49	%	-31.39	%
2008	0.10	%	157,940		10.939329		1,727,758	2.49	%	-31.46	%
2008	0.20	%	45,387		10.863747		493,073	2.49	%	-31.53	%
2008	0.25	%	434,590		10.826159		4,704,940	2.49	%	-31.56	%
2008	0.40	%	41,029		10.714194		439,593	2.49	%	-31.66	%
2007	0.00	%	4,655,618		16.055259		74,747,153	2.31	%	6.15	%
2007	0.10	%	168,006		15.960296		2,681,425	2.31	%	6.04	%
2007	0.20	%	53,480		15.865910		848,509	2.31	%	5.94	%
2007	0.25	%	236,756		15.818947		3,745,231	2.31	%	5.88	%
2007	0.40	%	202,098		15.678888		3,168,672	2.31	%	5.72	%
2006	0.00	%	4,071,170		15.125018		61,576,520	2.25	%	14.54	%
2006	0.10	%	18,108		15.050687		272,538	2.25	%	14.43	%
2006	0.20	%	38,278		14.976735		573,279	2.25	%	14.31	%
2006	0.25	%	84,106		14.939913		1,256,536	2.25	%	14.26	%
2006	0.40	%	268,984		14.829966		3,989,024	2.25	%	14.08	%
2005	0.00	%	3,665,284		13.204972		48,399,973	2.19	%	7.07	%
2005	0.10	%	20,444		13.153196		268,904	2.19	%	6.97	%
2005	0.20	%	22,860		13.101623		299,503	2.19	%	6.86	%
2005	0.25	%	80,236		13.075926		1,049,160	2.19	%	6.81	%
2005	0.40	%	181,156		12.999118		2,354,868	2.19	%	6.65	%
NVIT Investor Destinations Moderately Conservative Fund - Class II (GVDMC)
2009	0.00	%	1,042,745		13.712188		14,298,315	1.77	%	14.56	%
2009	0.10	%	67,425		13.603867		917,241	1.77	%	14.45	%
2009	0.20	%	44,906		13.496401		606,069	1.77	%	14.33	%
2009	0.25	%	191,581		13.443003		2,575,424	1.77	%	14.28	%
2009	0.40	%	28		13.284003		372	1.77	%	14.10	%
2008	0.00	%	1,167,584		11.969310		13,975,175	2.74	%	-15.04	%
2008	0.10	%	70,328		11.886643		835,964	2.74	%	-15.13	%
2008	0.20	%	21,399		11.804545		252,605	2.74	%	-15.21	%
2008	0.25	%	168,630		11.763719		1,983,716	2.74	%	-15.26	%
2008	0.40	%	9,327		11.642029		108,585	2.74	%	-15.38	%
2007	0.00	%	1,091,298		14.088774		15,375,051	3.18	%	5.86	%
2007	0.10	%	76,886		14.005474		1,076,825	3.18	%	5.75	%
2007	0.20	%	21,560		13.922670		300,173	3.18	%	5.65	%
2007	0.25	%	260,644		13.881453		3,618,117	3.18	%	5.59	%
2007	0.40	%	1,104,372		13.758509		15,194,512	3.18	%	5.43	%
2006	0.00	%	1,022,586		13.308971		13,609,567	2.84	%	8.42	%
2006	0.10	%	8,862		13.243591		117,365	2.84	%	8.31	%
2006	0.20	%	19,512		13.178536		257,140	2.84	%	8.21	%
2006	0.25	%	105,542		13.146115		1,387,467	2.84	%	8.15	%
2006	0.40	%	820,496		13.049356		10,706,944	2.84	%	7.99	%
2005	0.00	%	996,854		12.275099		12,236,482	2.78	%	4.49	%
2005	0.10	%	8,950		12.226987		109,432	2.78	%	4.38	%
2005	0.20	%	18,166		12.179054		221,245	2.78	%	4.28	%
2005	0.25	%	151,626		12.155154		1,843,037	2.78	%	4.23	%
2005	0.40	%	521,412		12.083751		6,300,613	2.78	%	4.07	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Leaders Fund - Class I (GVUS1)
2009	0.00	%	46,260	$	12.049802	$	557,424	0.84	%	33.79	%
2009	0.10	%	40,684		11.957718		486,488	0.84	%	33.65	%
2008	0.00	%	67,331		9.006647		606,427	0.76	%	-49.91	%
2008	0.10	%	42,776		8.946759		382,707	0.76	%	-49.96	%
2008	0.25	%	132		8.857680		1,169	0.76	%	-50.03	%
2007	0.00	%	89,306		17.979434		1,605,671	1.24	%	11.56	%
2007	0.10	%	44,572		17.877821		796,850	1.24	%	11.45	%
2007	0.25	%	3,872		17.726502		68,637	1.24	%	11.28	%
2006	0.00	%	85,138		16.116355		1,372,114	0.70	%	16.05	%
2006	0.10	%	8,386		16.041401		134,523	0.70	%	15.93	%
2006	0.25	%	2,392		15.929628		38,104	0.70	%	15.76	%
2006	0.40	%	54		15.818643		854	0.70	%	15.58	%
2005	0.00	%	40,072		13.887943		556,518	1.29	%	10.31	%
2005	0.10	%	13,776		13.837136		190,620	1.29	%	10.20	%
2005	0.25	%	8,298		13.761286		114,191	1.29	%	10.04	%
2005	0.40	%	212		13.685866		2,901	1.29	%	9.87	%
NVIT Mid Cap Index Fund - Class I (MCIF)
2009	0.00	%	1,091,787		23.150606		25,275,531	0.98	%	36.76	%
2009	0.10	%	194,480		20.989089		4,081,958	0.98	%	36.62	%
2009	0.20	%	174,671		15.811153		2,761,750	0.98	%	36.48	%
2009	0.25	%	1,162,757		15.739465		18,301,173	0.98	%	36.41	%
2009	0.40	%	3,484		19.635632		68,411	0.98	%	36.21	%
2008	0.00	%	1,183,654		16.928443		20,037,419	1.25	%	-36.46	%
2008	0.10	%	204,375		15.363236		3,139,861	1.25	%	-36.53	%
2008	0.20	%	243,882		11.584754		2,825,313	1.25	%	-36.59	%
2008	0.25	%	970,816		11.537999		11,201,274	1.25	%	-36.62	%
2008	0.40	%	234,488		14.415737		3,380,317	1.25	%	-36.72	%
2007	0.00	%	1,320,468		26.643107		35,181,370	1.35	%	7.56	%
2007	0.10	%	234,870		24.203943		5,684,780	1.35	%	7.45	%
2007	0.20	%	433,092		18.269470		7,912,361	1.35	%	7.34	%
2007	0.25	%	1,035,184		18.204864		18,845,384	1.35	%	7.29	%
2007	0.40	%	374,168		22.779636		8,523,411	1.35	%	7.13	%
2006	0.00	%	1,451,458		24.770554		35,953,419	1.14	%	9.89	%
2006	0.10	%	154,944		22.525451		3,490,183	1.14	%	9.78	%
2006	0.20	%	639,140		17.019619		10,877,919	1.14	%	9.67	%
2006	0.25	%	993,900		16.967969		16,864,464	1.14	%	9.62	%
2006	0.40	%	660,842		21.263963		14,052,120	1.14	%	9.45	%
2005	0.00	%	1,705,870		22.541352		38,452,616	1.04	%	12.10	%
2005	0.10	%	169,140		20.518746		3,470,541	1.04	%	11.99	%
2005	0.20	%	704,782		15.518876		10,937,424	1.04	%	11.87	%
2005	0.25	%	613,462		15.479497		9,496,083	1.04	%	11.82	%
2005	0.40	%	746,512		19.427688		14,503,002	1.04	%	11.65	%
NVIT Money Market Fund - Class I (SAM)
2009	0.00	%	7,271,586		14.293206		103,934,277	0.05	%	0.04	%
2009	0.20	%	3,780		12.055725		45,571	0.05	%	-0.16	%
2009	0.25	%	625,656		12.000968		7,508,478	0.05	%	-0.21	%
2008	0.00	%	8,735,601		14.287212		124,807,383	2.03	%	2.05	%
2008	0.20	%	4,546		12.074817		54,892	2.03	%	1.85	%
2008	0.25	%	747,274		12.025998		8,986,716	2.03	%	1.80	%
2007	0.00	%	8,018,358		13.999702		112,254,623	4.65	%	4.79	%
2007	0.20	%	5,226		11.855541		61,957	4.65	%	4.58	%
2007	0.25	%	839,752		11.813525		9,920,431	4.65	%	4.53	%
2006	0.00	%	7,870,664		13.359424		105,147,538	4.43	%	4.53	%
2006	0.20	%	5,784		11.336122		65,568	4.43	%	4.32	%
2006	0.25	%	906,990		11.301640		10,250,474	4.43	%	4.27	%
2005	0.00	%	8,487,334		12.780436		108,471,829	2.61	%	2.67	%
2005	0.20	%	12,740		10.866496		138,439	2.61	%	2.46	%
2005	0.25	%	997,352		10.838856		10,810,155	2.61	%	2.41	%
2005	0.40	%	1,872		12.182168		22,805	2.61	%	2.26	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Money Market Fund - Class V (SAM5)
2009	0.00	%	454,540	$	11.731114	$	5,332,261	0.06	%	0.06	%
2009	0.10	%	6,087,351		11.646971		70,899,201	0.06	%	-0.04	%
2009	0.20	%	7,395,065		11.563359		85,511,791	0.06	%	-0.14	%
2009	0.25	%	11,828,679		11.521736		136,286,917	0.06	%	-0.19	%
2009	0.40	%	16,932		11.397666		192,985	0.06	%	-0.34	%
2008	0.00	%	208,319		11.724390		2,442,413	2.10	%	2.14	%
2008	0.10	%	6,427,722		11.651947		74,895,476	2.10	%	2.04	%
2008	0.20	%	7,319,234		11.579888		84,755,910	2.10	%	1.94	%
2008	0.25	%	15,618,922		11.543990		180,304,679	2.10	%	1.89	%
2008	0.40	%	2,643,652		11.436879		30,235,128	2.10	%	1.73	%
2007	0.10	%	5,521,946		11.419178		63,056,084	4.74	%	4.76	%
2007	0.20	%	9,193,300		11.359928		104,435,226	4.74	%	4.66	%
2007	0.25	%	12,378,852		11.330392		140,257,246	4.74	%	4.60	%
2007	0.40	%	3,398,038		11.242166		38,201,307	4.74	%	4.44	%
2006	0.10	%	6,733,802		10.900267		73,400,240	4.63	%	4.51	%
2006	0.20	%	8,530,114		10.854633		92,591,257	4.63	%	4.40	%
2006	0.25	%	11,262,860		10.831867		121,997,802	4.63	%	4.35	%
2006	0.40	%	4,048,114		10.763797		43,573,077	4.63	%	4.20	%
2005	0.10	%	537,434		10.429961		5,605,416	2.74	%	2.65	%
2005	0.20	%	7,660,560		10.396676		79,644,360	2.74	%	2.55	%
2005	0.25	%	5,577,142		10.380057		57,891,052	2.74	%	2.49	%
2005	0.40	%	5,136,552		10.330316		53,062,205	2.74	%	2.34	%
NVIT Multi-Manager International Growth Fund - Class III (NVMIG3)
2009	0.00	%	2,144,940		8.379106		17,972,680	0.81	%	36.46	%
2008	0.00	%	1,107		6.140389		6,797	0.06	%	-38.60	%	5/1/2008
NVIT Multi-Manager International Value Fund - Class I (GVDIVI)
2009	0.00	%	65,225		16.546611		1,079,253	2.12	%	29.86	%
2008	0.00	%	77,496		12.742294		987,477	1.73	%	-46.31	%
2007	0.00	%	93,770					0.00	%
NVIT Multi-Manager International Value Fund - Class III (GVDIV3)
2009	0.00	%	556,645		10.082162		5,612,185	2.13	%	29.84	%
2008	0.00	%	635,373		7.765128		4,933,753	1.74	%	-46.33	%
2007	0.00	%	665,320		14.468946		9,626,479	2.15	%	2.93	%
2006	0.00	%	575,980		14.056822		8,096,448	2.01	%	22.75	%
2005	0.00	%	402,348		11.451970		4,607,677	0.95	%	14.52	%	5/2/2005
NVIT Multi-Manager Large Cap Growth Fund - Class I (NVMLG1)
2009	0.00	%	285,919		8.259762		2,361,623	0.86	%	29.78	%
2008	0.00	%	2,417		6.364575		15,383	0.26	%	-36.35	%	5/1/2008
NVIT Multi-Manager Large Cap Value Fund - Class I (NVMLV1)
2009	0.00	%	457,649		8.111157		3,712,063	1.39	%	27.59	%
2008	0.00	%	37,776		6.357067		240,145	0.95	%	-36.43	%	5/1/2008
NVIT Multi-Manager Mid Cap Growth Fund - Class I (NVMMG1)
2009	0.00	%	3,889,090		7.982859		31,046,057	0.00	%	27.12	%
2009	0.10	%	91,898		7.969566		732,387	0.00	%	26.99	%
2009	0.25	%	2,074		7.949631		16,488	0.00	%	26.80	%
2008	0.00	%	478		6.279727		3,002	0.00	%	-37.20	%	5/1/2008
NVIT Multi-Manager Mid Cap Value Fund - Class I (NVMMV1)
2008	0.25	%	358		6.761352		2,421	0.46	%	-32.39	%	5/1/2008
NVIT Multi-Manager Mid Cap Value Fund - Class II (NVMMV2)
2009	0.00	%	1,303,777		8.817001		11,495,403	1.19	%	30.47	%
2008	0.00	%	815		6.757903		5,508	1.51	%	-32.42	%	5/1/2008

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Multi-Manager Small Cap Growth Fund - Class I (SCGF)
2009	0.00	%	627,172	$	13.016693	$	8,163,705	0.00	%	27.46	%
2009	0.10	%	70,402		12.878613		906,680	0.00	%	27.33	%
2009	0.20	%	22,417		12.741894		285,635	0.00	%	27.21	%
2009	0.25	%	183,789		12.674135		2,329,367	0.00	%	27.14	%
2009	0.40	%	8		12.472919		100	0.00	%	26.95	%
2008	0.00	%	659,708		10.212287		6,737,127	0.00	%	-46.42	%
2008	0.10	%	72,753		10.114063		735,828	0.00	%	-46.47	%
2008	0.20	%	18,977		10.016703		190,087	0.00	%	-46.53	%
2008	0.25	%	271,535		9.968426		2,706,777	0.00	%	-46.55	%
2008	0.40	%	6,093		9.824891		59,863	0.00	%	-46.63	%
2007	0.00	%	711,702		19.059414		13,564,623	0.00	%	9.75	%
2007	0.10	%	104,246		18.895046		1,969,733	0.00	%	9.64	%
2007	0.20	%	101,242		18.731944		1,896,459	0.00	%	9.53	%
2007	0.25	%	271,302		18.651020		5,060,059	0.00	%	9.47	%
2007	0.40	%	28,166		18.410147		518,540	0.00	%	9.31	%
NVIT Multi-Manager Small Cap Value Fund - Class I (SCVF)
2009	0.00	%	1,113,781		22.834198		25,432,296	0.57	%	26.22	%
2009	0.10	%	99,716		24.471259		2,440,176	0.57	%	26.09	%
2009	0.20	%	125,186		17.497487		2,190,440	0.57	%	25.96	%
2009	0.25	%	362,635		17.418185		6,316,444	0.57	%	25.90	%
2009	0.40	%	4,138		19.342658		80,040	0.57	%	25.71	%
2008	0.00	%	1,246,918		18.091428		22,558,527	1.07	%	-32.15	%
2008	0.10	%	107,445		19.407862		2,085,278	1.07	%	-32.22	%
2008	0.20	%	117,819		13.890932		1,636,616	1.07	%	-32.29	%
2008	0.25	%	482,118		13.834895		6,670,052	1.07	%	-32.32	%
2008	0.40	%	12,830		15.386534		197,409	1.07	%	-32.42	%
2007	0.00	%	1,454,620		26.664377		38,786,536	1.13	%	-6.89	%
2007	0.10	%	262,148		28.633322		7,506,168	1.13	%	-6.99	%
2007	0.20	%	289,534		20.514502		5,939,646	1.13	%	-7.08	%
2007	0.25	%	575,424		20.441984		11,762,808	1.13	%	-7.13	%
2007	0.40	%	25,628		22.768858		583,520	1.13	%	-7.27	%
2006	0.00	%	1,678,046		28.638579		48,056,853	0.43	%	17.29	%
2006	0.10	%	237,134		30.784276		7,299,999	0.43	%	17.18	%
2006	0.20	%	348,296		22.077762		7,689,596	0.43	%	17.06	%
2006	0.25	%	667,586		22.010798		14,694,101	0.43	%	17.00	%
2006	0.40	%	104,786		24.553275		2,572,839	0.43	%	16.83	%
2005	0.00	%	1,914,388		24.416176		46,742,034	0.07	%	3.07	%
2005	0.10	%	250,094		26.271693		6,570,393	0.07	%	2.97	%
2005	0.20	%	458,988		18.860242		8,656,625	0.07	%	2.87	%
2005	0.25	%	848,398		18.812416		15,960,416	0.07	%	2.82	%
2005	0.40	%	395,632		21.016857		8,314,941	0.07	%	2.66	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Multi-Manager Small Company Fund - Class I (SCF)
2009	0.00	%	1,279,276	$	21.944622	$	28,073,228	0.27	%	34.70	%
2009	0.10	%	181,456		22.128719		4,015,389	0.27	%	34.57	%
2009	0.20	%	858,139		14.844285		12,738,460	0.27	%	34.43	%
2009	0.25	%	1,510,254		14.777001		22,317,025	0.27	%	34.37	%
2009	0.40	%	6,288		18.829123		118,398	0.27	%	34.16	%
2008	0.00	%	1,461,719		16.291230		23,813,200	0.83	%	-38.19	%
2008	0.10	%	200,454		16.444339		3,296,334	0.83	%	-38.25	%
2008	0.20	%	968,556		11.042145		10,694,936	0.83	%	-38.31	%
2008	0.25	%	1,443,694		10.997602		15,877,172	0.83	%	-38.34	%
2008	0.40	%	138,143		14.034369		1,938,750	0.83	%	-38.44	%
2007	0.00	%	1,568,836		26.356127		41,348,441	0.09	%	2.13	%
2007	0.10	%	214,492		26.630532		5,712,036	0.09	%	2.03	%
2007	0.20	%	773,666		17.899968		13,848,597	0.09	%	1.93	%
2007	0.25	%	1,805,786		17.836712		32,209,285	0.09	%	1.88	%
2007	0.40	%	227,380		22.796223		5,183,405	0.09	%	1.72	%
2006	0.00	%	1,691,018		25.805828		43,638,120	0.10	%	12.04	%
2006	0.10	%	109,004		26.100738		2,845,085	0.10	%	11.93	%
2006	0.20	%	730,292		17.561515		12,825,034	0.10	%	11.82	%
2006	0.25	%	1,848,548		17.508253		32,364,846	0.10	%	11.76	%
2006	0.40	%	428,830		22.410227		9,610,178	0.10	%	11.59	%
2005	0.00	%	1,752,846		23.033016		40,373,330	0.00	%	12.32	%
2005	0.10	%	123,158		23.319481		2,871,981	0.00	%	12.20	%
2005	0.20	%	1,146,078		15.705843		18,000,121	0.00	%	12.09	%
2005	0.25	%	1,912,752		15.666008		29,965,188	0.00	%	12.04	%
2005	0.40	%	832,540		20.082219		16,719,251	0.00	%	11.87	%
NVIT Multi-Sector Bond Fund - Class I (MSBF)
2009	0.00	%	620,658		16.933793		10,510,094	9.43	%	24.38	%
2009	0.10	%	65,180		16.361665		1,066,453	9.43	%	24.25	%
2009	0.20	%	18,311		15.620376		286,025	9.43	%	24.13	%
2009	0.25	%	89,391		15.549631		1,389,997	9.43	%	24.07	%
2008	0.00	%	603,494		13.614701		8,216,390	6.15	%	-17.29	%
2008	0.10	%	55,384		13.167860		729,289	6.15	%	-17.37	%
2008	0.20	%	27,508		12.583839		346,156	6.15	%	-17.46	%
2008	0.25	%	141,197		12.533105		1,769,637	6.15	%	-17.50	%
2008	0.40	%	2,396		12.738274		30,521	6.15	%	-17.62	%
2007	0.00	%	697,366		16.461000		11,479,342	4.18	%	4.62	%
2007	0.10	%	81,530		15.936672		1,299,317	4.18	%	4.52	%
2007	0.20	%	70,520		15.245098		1,075,084	4.18	%	4.41	%
2007	0.25	%	657,186		15.191219		9,983,456	4.18	%	4.36	%
2007	0.40	%	44,644		15.463091		690,334	4.18	%	4.20	%
2006	0.00	%	657,636		15.733416		10,346,861	4.07	%	4.84	%
2006	0.10	%	18,772		15.247568		286,227	4.07	%	4.73	%
2006	0.20	%	57,084		14.600569		833,459	4.07	%	4.63	%
2006	0.25	%	450,402		14.556279		6,556,177	4.07	%	4.58	%
2006	0.40	%	34,566		14.839152		512,930	4.07	%	4.42	%
2005	0.00	%	636,228		15.007380		9,548,115	3.99	%	2.18	%
2005	0.10	%	28,056		14.558458		408,452	3.99	%	2.08	%
2005	0.20	%	114,922		13.954609		1,603,692	3.99	%	1.98	%
2005	0.25	%	483,160		13.919206		6,725,204	3.99	%	1.93	%
2005	0.40	%	89,110		14.210938		1,266,337	3.99	%	1.77	%
NVIT Short Term Bond Fund - Class I (NVSTB1)
2009	0.25	%	52,762		10.669125		562,924	2.15	%	7.12	%
NVIT Short Term Bond Fund - Class II (NVSTB2)
2009	0.00	%	270,272		10.650192		2,878,449	2.32	%	7.11	%
2008	0.00	%	96,918		9.943310		963,686	3.46	%	-0.57	%	5/1/2008

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
NVIT Technology & Communications Fund - Class I (GGTC)
2009	0.00	%	235,876	$	3.325931	$	784,507	0.00	%	52.47	%
2009	0.10	%	226,699		3.295310		747,043	0.00	%	52.31	%
2009	0.20	%	371,260		3.264934		1,212,139	0.00	%	52.16	%
2009	0.25	%	481,326		3.249860		1,564,242	0.00	%	52.09	%
2008	0.00	%	286,434		2.181418		624,832	0.00	%	-48.57	%
2008	0.10	%	259,568		2.163493		561,574	0.00	%	-48.62	%
2008	0.20	%	338,127		2.145696		725,518	0.00	%	-48.67	%
2008	0.25	%	424,273		2.136859		906,612	0.00	%	-48.70	%
2008	0.40	%	3,131		2.110566		6,608	0.00	%	-48.78	%
2007	0.00	%	400,856		4.241547		1,700,250	0.00	%	20.09	%
2007	0.10	%	257,506		4.210915		1,084,336	0.00	%	19.97	%
2007	0.20	%	380,790		4.180465		1,591,879	0.00	%	19.85	%
2007	0.25	%	519,226		4.165338		2,162,752	0.00	%	19.79	%
2007	0.40	%	80,076		4.120279		329,935	0.00	%	19.61	%
2006	0.00	%	515,480		3.531877		1,820,612	0.00	%	11.17	%
2006	0.10	%	101,564		3.509892		356,479	0.00	%	11.06	%
2006	0.20	%	311,356		3.488016		1,086,015	0.00	%	10.95	%
2006	0.25	%	446,826		3.477132		1,553,673	0.00	%	10.89	%
2006	0.40	%	238,650		3.444715		822,081	0.00	%	10.73	%
2005	0.00	%	740,614		3.177040		2,352,960	0.00	%	-0.52	%
2005	0.10	%	125,958		3.160408		398,079	0.00	%	-0.62	%
2005	0.20	%	273,712		3.143852		860,510	0.00	%	-0.71	%
2005	0.25	%	262,362		3.135604		822,663	0.00	%	-0.76	%
2005	0.40	%	232,710		3.111019		723,965	0.00	%	-0.91	%
NVIT Technology & Communications Fund - Class III (GGTC3)
2009	0.00	%	200,315		12.888766		2,581,813	0.00	%	52.44	%
2008	0.00	%	177,753		8.454726		1,502,853	0.00	%	-48.59	%
2007	0.00	%	249,550		16.444438		4,103,710	0.00	%	20.19	%
2006	0.00	%	136,014		13.682536		1,861,016	0.00	%	11.08	%
2005	0.00	%	89,142		12.317458		1,098,003	0.00	%	23.17	%	5/2/2005
NVIT U.S. Growth Leaders Fund - Class I (GVUG1)
2009	0.00	%	134,485		14.212216		1,911,330	0.00	%	25.84	%
2009	0.10	%	56,812		14.103668		801,258	0.00	%	25.71	%
2008	0.00	%	204,284		11.293974		2,307,178	0.00	%	-41.29	%
2008	0.10	%	75,068		11.218926		842,182	0.00	%	-41.35	%
2008	0.25	%	68,398		11.107192		759,710	0.00	%	-41.44	%
2007	0.00	%	231,876		19.237188		4,460,642	0.00	%	22.49	%
2007	0.10	%	147,470		19.128541		2,820,886	0.00	%	22.36	%
2007	0.25	%	71,458		18.966559		1,355,312	0.00	%	22.18	%
2006	0.00	%	250,268		15.705651		3,930,622	0.27	%	-0.29	%
2006	0.10	%	74,050		15.632647		1,157,598	0.27	%	-0.39	%
2006	0.25	%	93,502		15.523663		1,451,494	0.27	%	-0.54	%
2006	0.40	%	118		15.415524		1,819	0.27	%	-0.69	%
2005	0.00	%	279,900		15.751023		4,408,711	0.00	%	11.96	%
2005	0.10	%	70,284		15.693455		1,102,999	0.00	%	11.85	%
2005	0.25	%	80,480		15.607398		1,256,083	0.00	%	11.68	%
2005	0.40	%	816		15.521877		12,666	0.00	%	11.52	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Oppenheimer NVIT Large Cap Growth Fund - Class I (NVOLG1)
2009	0.00	%	32,412	$	13.059893	$	423,297	0.24	%	30.60	%	5/1/2009
Templeton NVIT International Value Fund - Class III (NVTIV3)
2009	0.00	%	8,463		13.034354		110,310	0.64	%	30.34	%	5/1/2009
Van Kampen NVIT Comstock Value Fund - Class I (EIF)
2009	0.00	%	702,809		11.850163		8,328,401	1.12	%	28.55	%
2009	0.10	%	56,839		9.902521		562,849	1.12	%	28.42	%
2009	0.25	%	161		9.726461		1,566	1.12	%	28.23	%
2008	0.00	%	790,298		9.218422		7,285,300	2.00	%	-36.99	%
2008	0.10	%	66,339		7.711029		511,542	2.00	%	-37.05	%
2008	0.25	%	30,065		7.585299		228,052	2.00	%	-37.15	%
2007	0.00	%	883,520		14.630092		12,925,979	1.74	%	-2.22	%
2007	0.10	%	50,950		12.250079		624,142	1.74	%	-2.31	%
2007	0.25	%	48,922		12.068473		590,414	1.74	%	-2.46	%
2006	0.00	%	875,334		14.961750		13,096,528	1.73	%	15.91	%
2006	0.10	%	5,264		12.540372		66,013	1.73	%	15.79	%
2006	0.25	%	36,988		12.373114		457,657	1.73	%	15.62	%
2006	0.40	%	2		13.317925		27	1.73	%	15.44	%
2005	0.00	%	825,902		12.908610		10,661,247	1.61	%	4.25	%
2005	0.10	%	5,204		10.830304		56,361	1.61	%	4.14	%
2005	0.25	%	42,010		10.701838		449,584	1.61	%	3.99	%
2005	0.40	%	262		11.536276		3,023	1.61	%	3.83	%
Van Kampen NVIT Real Estate Fund - Class I (NVRE1)
2009	0.00	%	3,102,055		7.388147		22,918,438	2.16	%	30.84	%
2009	0.25	%	7,340		14.799525		108,629	2.16	%	48.00	%	5/1/2009
2008	0.00	%	19,987		5.646840		112,863	4.37	%	-43.53	%	5/1/2008
Advisers Management Trust - Short Duration Bond Portfolio - I Class Shares (AMTB)
2009	0.00	%	395,794		11.059816		4,377,409	7.00	%	13.33	%
2008	0.00	%	417,277		9.759262		4,072,316	3.91	%	-13.43	%
2007	0.00	%	757,962		11.273070		8,544,559	2.69	%	4.77	%
2006	0.00	%	903,048		10.759706		9,716,531	3.07	%	4.20	%
2005	0.00	%	748,972		10.325859		7,733,779	3.97	%	1.44	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
V.I. Basic Value Fund - Series I (AVBVI)
2009	0.10	%	19,823	$	12.594459	$	249,660	0.41	%	47.85	%
2009	0.25	%	40,678		12.456759		506,716	0.41	%	47.63	%
2008	0.00	%	322,494		8.572219		2,764,489	0.87	%	-51.77	%
2008	0.10	%	14,438		8.518126		122,985	0.87	%	-51.82	%
2008	0.25	%	65,576		8.437654		553,308	0.87	%	-51.89	%
2008	0.40	%	11,858		8.357923		99,108	0.87	%	-51.96	%
2007	0.00	%	315,430		17.772480		5,605,973	0.59	%	1.54	%
2007	0.10	%	14,780		17.678080		261,282	0.59	%	1.44	%
2007	0.20	%	34,052		17.584241		598,779	0.59	%	1.34	%
2007	0.25	%	74,740		17.537474		1,310,751	0.59	%	1.29	%
2007	0.40	%	16,380		17.397964		284,979	0.59	%	1.14	%
2006	0.00	%	334,122		17.502242		5,847,884	0.42	%	13.20	%
2006	0.10	%	1,258		17.426798		21,923	0.42	%	13.09	%
2006	0.20	%	55,730		17.351728		967,012	0.42	%	12.98	%
2006	0.25	%	70,154		17.314284		1,214,666	0.42	%	12.92	%
2006	0.40	%	30,412		17.202471		523,162	0.42	%	12.75	%
2005	0.00	%	300,432		15.460790		4,644,916	0.09	%	5.74	%
2005	0.10	%	174		15.409499		2,681	0.09	%	5.63	%
2005	0.20	%	46,214		15.358428		709,774	0.09	%	5.53	%
2005	0.25	%	54,050		15.332927		828,745	0.09	%	5.47	%
2005	0.40	%	44,502		15.256716		678,954	0.09	%	5.32	%
V.I. Capital Appreciation Fund - Series I (AVCA)
2009	0.00	%	77,637		11.924271		925,765	0.59	%	21.08	%
2008	0.00	%	73,269		9.848393		721,582	0.00	%	-42.49	%
2007	0.00	%	101,352		17.125365		1,735,690	0.00	%	12.01	%
2006	0.00	%	102,104		15.288632		1,561,030	0.06	%	6.30	%
2005	0.00	%	85,976		14.382523		1,236,552	0.08	%	8.84	%
V.I. Capital Development Fund - Series I (AVCDI)
2009	0.00	%	164,731		16.394648		2,700,707	0.00	%	42.37	%
2009	0.10	%	15,032		16.274948		244,645	0.00	%	42.23	%
2009	0.20	%	59,711		16.156149		964,700	0.00	%	42.09	%
2009	0.25	%	303,416		16.097055		4,884,104	0.00	%	42.02	%
2009	0.40	%	535		15.921111		8,518	0.00	%	41.80	%
2008	0.00	%	186,381		11.515462		2,146,263	0.00	%	-47.03	%
2008	0.10	%	18,486		11.442826		211,532	0.00	%	-47.08	%
2008	0.20	%	60,947		11.370648		693,007	0.00	%	-47.13	%
2008	0.25	%	249,314		11.334726		2,825,906	0.00	%	-47.16	%
2008	0.40	%	60,293		11.227657		676,949	0.00	%	-47.24	%
2007	0.00	%	192,610		21.737696		4,186,898	0.00	%	10.84	%
2007	0.10	%	113,300		21.622263		2,449,802	0.00	%	10.73	%
2007	0.20	%	105,866		21.507445		2,276,907	0.00	%	10.62	%
2007	0.25	%	191,752		21.450254		4,113,129	0.00	%	10.57	%
2007	0.40	%	129,860		21.279639		2,763,374	0.00	%	10.40	%
2006	0.00	%	180,668		19.610981		3,543,077	0.00	%	16.52	%
2006	0.10	%	100,288		19.526450		1,958,269	0.00	%	16.40	%
2006	0.20	%	73,000		19.442307		1,419,288	0.00	%	16.29	%
2006	0.25	%	158,748		19.400361		3,079,769	0.00	%	16.23	%
2006	0.40	%	137,464		19.275099		2,649,632	0.00	%	16.06	%
2005	0.00	%	164,886		16.830569		2,775,125	0.00	%	9.60	%
2005	0.10	%	29,388		16.774744		492,976	0.00	%	9.50	%
2005	0.20	%	21,682		16.719125		362,504	0.00	%	9.39	%
2005	0.25	%	93,372		16.691371		1,558,507	0.00	%	9.33	%
2005	0.40	%	247,510		16.608430		4,110,753	0.00	%	9.17	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
V.I. International Growth Fund - Series I (AVIE)
2009	0.00	%	34,545	$	16.700382	$	576,915	1.69	%	35.24	%
2009	0.10	%	219,927		16.606084		3,652,126	1.69	%	35.11	%
2009	0.20	%	229,555		16.512357		3,790,494	1.69	%	34.97	%
2009	0.25	%	1,521,302		16.465672		25,049,260	1.69	%	34.90	%
2009	0.40	%	2,280		16.326447		37,224	1.69	%	34.70	%
2008	0.00	%	5,516		12.348500		68,114	0.54	%	-40.38	%
2008	0.10	%	207,823		12.291069		2,554,367	0.54	%	-40.44	%
2008	0.20	%	118,867		12.233919		1,454,209	0.54	%	-40.50	%
2008	0.25	%	1,309,467		12.205427		15,982,604	0.54	%	-40.53	%
2008	0.40	%	203,177		12.120383		2,462,583	0.54	%	-40.62	%
2007	0.10	%	183,632		20.636261		3,789,478	0.53	%	14.60	%
2007	0.20	%	187,080		20.560904		3,846,534	0.53	%	14.49	%
2007	0.25	%	903,590		20.523294		18,544,643	0.53	%	14.43	%
2007	0.40	%	475,710		20.410961		9,709,698	0.53	%	14.26	%
2006	0.20	%	189,366		17.958795		3,400,785	0.97	%	27.98	%
2006	0.25	%	447,740		17.934952		8,030,195	0.97	%	27.91	%
2006	0.40	%	461,146		17.863705		8,237,776	0.97	%	27.72	%
2005	0.20	%	451,992		14.032735		6,342,684	1.14	%	17.69	%
2005	0.25	%	202,258		14.021093		2,835,878	1.14	%	17.63	%
2005	0.40	%	457,728		13.986284		6,401,914	1.14	%	17.46	%
VPS Growth and Income Portfolio - Class A (ALVGIA)
2009	0.00	%	220,764		13.736397		3,032,502	4.18	%	20.82	%
2009	0.10	%	62,989		13.636111		858,925	4.18	%	20.70	%
2009	0.25	%	501,456		13.487083		6,763,179	4.18	%	20.52	%
2009	0.40	%	3,565		13.339666		47,556	4.18	%	20.34	%
2008	0.00	%	227,556		11.368917		2,587,065	2.03	%	-40.60	%
2008	0.10	%	84,717		11.297207		957,065	2.03	%	-40.66	%
2008	0.25	%	548,481		11.190516		6,137,785	2.03	%	-40.75	%
2008	0.40	%	31,102		11.084829		344,760	2.03	%	-40.84	%
2007	0.00	%	232,948		19.140759		4,458,802	1.44	%	5.12	%
2007	0.10	%	63,136		19.039121		1,202,054	1.44	%	5.01	%
2007	0.20	%	47,418		18.938067		898,005	1.44	%	4.91	%
2007	0.25	%	720,052		18.887703		13,600,128	1.44	%	4.85	%
2007	0.40	%	63,592		18.737498		1,191,555	1.44	%	4.70	%
2006	0.00	%	241,896		18.208779		4,404,631	1.37	%	17.29	%
2006	0.10	%	3,554		18.130310		64,435	1.37	%	17.17	%
2006	0.20	%	44,760		18.052215		808,017	1.37	%	17.05	%
2006	0.25	%	422,112		18.013258		7,603,612	1.37	%	16.99	%
2006	0.40	%	395,572		17.896979		7,079,544	1.37	%	16.82	%
2005	0.00	%	247,326		15.525074		3,839,754	1.48	%	4.87	%
2005	0.10	%	84,426		15.473584		1,306,373	1.48	%	4.76	%
2005	0.20	%	37,842		15.422290		583,610	1.48	%	4.66	%
2005	0.25	%	369,126		15.396687		5,683,317	1.48	%	4.61	%
2005	0.40	%	386,306		15.320186		5,918,280	1.48	%	4.45	%
VPS International Value Portfolio - Class A (ALVIVA)
2009	0.00	%	154,940		7.568873		1,172,721	1.32	%	34.68	%
2009	0.20	%	1,046,990		7.513480		7,866,538	1.32	%	34.41	%
2009	0.25	%	3,001,526		7.499685		22,510,500	1.32	%	34.34	%
2008	0.00	%	84,052		5.619859		472,360	1.09	%	-53.18	%
2008	0.20	%	981,200		5.589904		5,484,814	1.09	%	-53.28	%
2008	0.25	%	2,650,624		5.582435		14,796,936	1.09	%	-53.30	%
2008	0.40	%	967,247		5.560105		5,377,995	1.09	%	-53.37	%
2007	0.20	%	656,858		11.964050		7,858,682	1.13	%	5.63	%
2007	0.25	%	1,304,024		11.954073		15,588,398	1.13	%	5.57	%
2007	0.40	%	764,464		11.924192		9,115,616	1.13	%	5.42	%
2006	0.20	%	287,868		11.326575		3,260,558	0.57	%	13.27	%	5/1/2006
2006	0.25	%	343,264		11.322832		3,886,721	0.57	%	13.23	%	5/1/2006
2006	0.40	%	453,968		11.311574		5,135,093	0.57	%	13.12	%	5/1/2006

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VPS Small/Mid Cap Value Portfolio: Class A (ALVSVA)
2009	0.00	%	253,341	$	18.846934	$	4,774,701	1.10	%	42.86	%
2009	0.25	%	158,842		18.535349		2,944,192	1.10	%	42.50	%
2008	0.00	%	231,734		13.192861		3,057,234	0.72	%	-35.58	%
2008	0.25	%	95,945		13.007237		1,247,979	0.72	%	-35.74	%
2008	0.40	%	489		12.897108		6,307	0.72	%	-35.83	%
2007	0.00	%	214,120		20.478040		4,384,758	0.89	%	1.70	%
2007	0.25	%	62,706		20.240586		1,269,206	0.89	%	1.45	%
2006	0.00	%	168,136		20.134859		3,385,395	0.45	%	14.42	%
2005	0.00	%	198,030		17.597332		3,484,800	0.74	%	6.91	%
VP Income & Growth Fund - Class I (ACVIG)
2009	0.00	%	943,045		13.670467		12,891,866	4.69	%	18.10	%
2009	0.10	%	88,247		10.412325		918,856	4.69	%	17.98	%
2009	0.20	%	87,958		10.159333		893,595	4.69	%	17.86	%
2009	0.25	%	96,315		10.113262		974,059	4.69	%	17.80	%
2008	0.00	%	1,027,223		11.575621		11,890,744	2.04	%	-34.59	%
2008	0.10	%	110,562		8.825580		975,774	2.04	%	-34.65	%
2008	0.20	%	111,787		8.619752		963,576	2.04	%	-34.72	%
2008	0.25	%	128,424		8.584965		1,102,516	2.04	%	-34.75	%
2007	0.00	%	1,143,260		17.695903		20,231,018	1.91	%	-0.07	%
2007	0.10	%	113,024		13.505398		1,526,434	1.91	%	-0.17	%
2007	0.20	%	101,346		13.203656		1,338,138	1.91	%	-0.27	%
2007	0.25	%	200,072		13.156950		2,632,337	1.91	%	-0.32	%
2006	0.00	%	1,305,236		17.707797		23,112,854	1.85	%	17.09	%
2006	0.10	%	23,772		13.528072		321,589	1.85	%	16.97	%
2006	0.20	%	163,996		13.239121		2,171,163	1.85	%	16.85	%
2006	0.25	%	284,862		13.198939		3,759,876	1.85	%	16.80	%
2006	0.40	%	280		14.724248		4,123	1.85	%	16.62	%
2005	0.00	%	1,496,010		15.123633		22,625,106	1.94	%	4.63	%
2005	0.10	%	27,068		11.565387		313,052	1.94	%	4.53	%
2005	0.20	%	123,222		11.329648		1,396,062	1.94	%	4.42	%
2005	0.25	%	284,088		11.300886		3,210,446	1.94	%	4.37	%
2005	0.40	%	1,326		12.625722		16,742	1.94	%	4.21	%
VP Inflation Protection Fund - Class II (ACVIP2)
2009	0.00	%	2,112,440		13.385524		28,276,116	1.87	%	10.21	%
2008	0.00	%	1,471,121		12.144940		17,866,676	4.70	%	-1.59	%
2007	0.00	%	555,690		12.340997		6,857,769	4.55	%	9.49	%
2006	0.00	%	555,240		11.270913		6,258,062	3.48	%	1.59	%
2005	0.00	%	535,932		11.094803		5,946,060	4.48	%	1.56	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VP International Fund - Class I (ACVI)
2009	0.00	%	478	$	16.133486	$	7,712	2.11	%	33.76	%
2009	0.10	%	162,692		13.112836		2,133,354	2.11	%	33.63	%
2009	0.20	%	529,597		10.279855		5,444,180	2.11	%	33.50	%
2009	0.25	%	885,670		10.233305		9,063,331	2.11	%	33.43	%
2008	0.00	%	712,789		12.061113		8,597,029	0.81	%	-44.82	%
2008	0.10	%	585,318		9.812726		5,743,565	0.81	%	-44.88	%
2008	0.20	%	669,811		7.700423		5,157,828	0.81	%	-44.93	%
2008	0.25	%	595,526		7.669381		4,567,316	0.81	%	-44.96	%
2007	0.00	%	846,898		21.858923		18,512,278	0.70	%	18.06	%
2007	0.10	%	655,660		17.801907		11,671,998	0.70	%	17.94	%
2007	0.20	%	563,546		13.983846		7,880,540	0.70	%	17.82	%
2007	0.25	%	760,806		13.934456		10,601,418	0.70	%	17.76	%
2007	0.40	%	3,154		17.343787		54,702	0.70	%	17.58	%
2006	0.00	%	1,069,366		18.515660		19,800,017	1.58	%	25.03	%
2006	0.10	%	620,316		15.094317		9,363,246	1.58	%	24.90	%
2006	0.20	%	530,226		11.868885		6,293,191	1.58	%	24.78	%
2006	0.25	%	987,980		11.832909		11,690,677	1.58	%	24.71	%
2006	0.40	%	146,198		14.750278		2,156,461	1.58	%	24.53	%
2005	0.00	%	1,314,688		14.809535		19,469,918	1.25	%	13.25	%
2005	0.10	%	645,460		12.085047		7,800,414	1.25	%	13.14	%
2005	0.20	%	640,818		9.512128		6,095,543	1.25	%	13.03	%
2005	0.25	%	882,458		9.488028		8,372,786	1.25	%	12.97	%
2005	0.40	%	243,536		11.844974		2,884,678	1.25	%	12.80	%
VP International Fund - Class III (ACVI3)
2008	0.00	%	684,882		9.507294		6,511,375	0.80	%	-44.82	%
2007	0.00	%	702,238		17.230511		12,099,920	0.60	%	18.06	%
2006	0.00	%	548,782		14.595156		8,009,559	1.38	%	25.03	%
2005	0.00	%	366,150		11.673757		4,274,346	0.00	%	16.74	%	5/2/2005
VP Mid Cap Value Fund - Class I (ACVMV1)
2009	0.00	%	194,218		13.081223		2,540,609	3.88	%	29.94	%
2009	0.25	%	19,707		12.929491		254,801	3.88	%	29.62	%
2008	0.00	%	162,562		10.066767		1,636,474	0.10	%	-24.35	%
2008	0.25	%	14,371		9.974909		143,349	0.10	%	-24.54	%
2008	0.40	%	655		9.920204		6,498	0.10	%	-24.65	%
2007	0.00	%	172,152		13.306496		2,290,740	0.74	%	-2.31	%
2007	0.25	%	48		13.218157		634	0.74	%	-2.55	%
2006	0.00	%	88,992		13.620466		1,212,113	0.96	%	20.30	%
2005	0.00	%	57,178		11.322176		647,379	1.24	%	13.22	%	5/2/2005

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VP Ultra(R) Fund - Class I (ACVU1)
2009	0.10	%	62,621	$	10.377444	$	649,846	0.42	%	34.34	%
2009	0.25	%	16,812		10.258719		172,470	0.42	%	34.14	%
2008	0.00	%	241,214		7.776182		1,875,724	0.00	%	-41.48	%
2008	0.10	%	55,133		7.724476		425,874	0.00	%	-41.54	%
2008	0.25	%	26,763		7.647567		204,672	0.00	%	-41.63	%
2008	0.40	%	155		7.571430		1,174	0.00	%	-41.71	%
2007	0.00	%	263,464		13.288079		3,500,930	0.00	%	21.02	%
2007	0.10	%	72,634		13.212973		959,711	0.00	%	20.89	%
2007	0.20	%	61,870		13.138291		812,866	0.00	%	20.77	%
2007	0.25	%	27,300		13.101110		357,660	0.00	%	20.71	%
2007	0.40	%	9,950		12.990210		129,253	0.00	%	20.53	%
2006	0.00	%	257,010		10.980437		2,822,082	0.00	%	-3.28	%
2006	0.10	%	28,308		10.929351		309,388	0.00	%	-3.37	%
2006	0.20	%	38,106		10.878509		414,536	0.00	%	-3.47	%
2006	0.25	%	24,306		10.853176		263,797	0.00	%	-3.52	%
2006	0.40	%	15,632		10.777532		168,474	0.00	%	-3.66	%
2005	0.00	%	263,874		11.352287		2,995,573	0.00	%	2.17	%
2005	0.10	%	28,300		11.310747		320,094	0.00	%	2.06	%
2005	0.20	%	34,792		11.269368		392,084	0.00	%	1.96	%
2005	0.25	%	252,658		11.248731		2,842,082	0.00	%	1.91	%
2005	0.40	%	28,284		11.187064		316,415	0.00	%	1.76	%
VP Value Fund - Class I (ACVV)
2009	0.00	%	1,823,545		18.517102		33,766,769	4.43	%	19.86	%
2009	0.10	%	181,074		18.146348		3,285,832	4.43	%	19.74	%
2009	0.20	%	109,685		15.655677		1,717,193	4.43	%	19.62	%
2009	0.25	%	900,703		15.584697		14,037,183	4.43	%	19.56	%
2009	0.40	%	1,441		15.848647		22,838	4.43	%	19.39	%
2008	0.00	%	1,960,285		15.448478		30,283,420	2.41	%	-26.78	%
2008	0.10	%	148,861		15.154320		2,255,887	2.41	%	-26.85	%
2008	0.20	%	126,637		13.087397		1,657,349	2.41	%	-26.92	%
2008	0.25	%	740,756		13.034585		9,655,447	2.41	%	-26.96	%
2008	0.40	%	89,037		13.275233		1,181,987	2.41	%	-27.07	%
2007	0.00	%	2,211,696		21.097489		46,661,232	1.58	%	-5.14	%
2007	0.10	%	146,596		20.716530		3,036,960	1.58	%	-5.23	%
2007	0.20	%	200,240		17.908888		3,586,076	1.58	%	-5.33	%
2007	0.25	%	644,276		17.845573		11,497,474	1.58	%	-5.38	%
2007	0.40	%	199,154		18.202380		3,625,077	1.58	%	-5.52	%
2006	0.00	%	2,442,604		22.240206		54,324,016	1.41	%	18.65	%
2006	0.10	%	62,962		21.860590		1,376,386	1.41	%	18.53	%
2006	0.20	%	228,952		18.916906		4,331,063	1.41	%	18.42	%
2006	0.25	%	552,364		18.859509		10,417,314	1.41	%	18.36	%
2006	0.40	%	250,854		19.265641		4,832,863	1.41	%	18.18	%
2005	0.00	%	2,800,196		18.743947		52,486,725	0.83	%	5.03	%
2005	0.10	%	71,456		18.442377		1,317,818	0.83	%	4.93	%
2005	0.20	%	421,892		15.974895		6,739,680	0.83	%	4.82	%
2005	0.25	%	496,994		15.934364		7,919,283	0.83	%	4.77	%
2005	0.40	%	371,836		16.301854		6,061,616	0.83	%	4.62	%
VP Vista(SM) Fund - Class I (ACVVS1)
2009	0.00	%	10,424		10.990064		114,560	0.00	%	22.47	%
2009	0.10	%	55,152		10.938887		603,301	0.00	%	22.35	%
2009	0.25	%	112,703		10.862560		1,224,243	0.00	%	22.16	%
2008	0.00	%	193,947		8.973691		1,740,420	0.00	%	-48.62	%
2008	0.10	%	71,127		8.940846		635,936	0.00	%	-48.67	%
2008	0.25	%	86,096		8.891784		765,547	0.00	%	-48.75	%
2008	0.40	%	10,525		8.843015		93,073	0.00	%	-48.83	%
2007	0.00	%	227,012		17.466180		3,965,032	0.00	%	39.77	%
2007	0.10	%	29,042		17.419741		505,904	0.00	%	39.63	%
2007	0.25	%	48,218		17.350253		836,594	0.00	%	39.42	%
2007	0.40	%	9,298		17.281076		160,679	0.00	%	39.21	%
2006	0.00	%	13,662		12.496264		170,724	0.00	%	9.01	%
2006	0.25	%	4,932		12.444525		61,376	0.00	%	8.74	%
2006	0.40	%	9,374		12.413582		116,365	0.00	%	8.57	%
2005	0.00	%	7,434		11.463606		85,220	0.00	%	14.64	%	5/2/2005
2005	0.25	%	248		11.444645		2,838	0.00	%	14.45	%	5/2/2005
2005	0.40	%	596		11.433293		6,814	0.00	%	14.33	%	5/2/2005

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
MidCap Stock Portfolio - Initial Shares (DVMCS)
2009	0.10	%	32,827	$	14.400019	$	472,709	1.40	%	35.37	%
2009	0.25	%	28,797		14.242624		410,145	1.40	%	35.17	%
2008	0.10	%	33,401		10.637241		355,294	0.85	%	-40.48	%
2008	0.25	%	19,324		10.536775		203,613	0.85	%	-40.57	%
2008	0.40	%	1,110		10.437244		11,585	0.85	%	-40.66	%
2007	0.10	%	27,786		17.871247		496,570	0.45	%	1.40	%
2007	0.20	%	14,222		17.776343		252,815	0.45	%	1.29	%
2007	0.25	%	30,302		17.729117		537,228	0.45	%	1.24	%
2007	0.40	%	2,880		17.588091		50,654	0.45	%	1.09	%
2006	0.10	%	2,040		17.625316		35,956	0.37	%	7.64	%
2006	0.20	%	15,656		17.549344		274,753	0.37	%	7.53	%
2006	0.25	%	38,318		17.511529		671,007	0.37	%	7.48	%
2006	0.40	%	6,714		17.398454		116,813	0.37	%	7.32	%
2005	0.10	%	2,806		16.374088		45,946	0.02	%	9.06	%
2005	0.20	%	13,484		16.319776		220,056	0.02	%	8.95	%
2005	0.25	%	20,998		16.292721		342,115	0.02	%	8.90	%
2005	0.40	%	9,248		16.211755		149,926	0.02	%	8.74	%
Small Cap Stock Index Portfolio - Service Shares (DVSCS)
2009	0.00	%	622,763		13.569574		8,450,629	2.54	%	25.03	%
2009	0.10	%	232,174		13.465899		3,126,432	2.54	%	24.90	%
2009	0.20	%	230,031		13.363002		3,073,905	2.54	%	24.78	%
2009	0.25	%	1,021,175		13.311853		13,593,731	2.54	%	24.71	%
2009	0.40	%	902		13.159552		11,870	2.54	%	24.53	%
2008	0.00	%	615,900		10.853308		6,684,552	0.81	%	-30.91	%
2008	0.10	%	244,811		10.781160		2,639,347	0.81	%	-30.98	%
2008	0.20	%	202,504		10.709488		2,168,714	0.81	%	-31.05	%
2008	0.25	%	657,368		10.673834		7,016,637	0.81	%	-31.09	%
2008	0.40	%	157,072		10.567565		1,659,869	0.81	%	-31.19	%
2007	0.00	%	618,466		15.709599		9,715,853	0.38	%	-0.65	%
2007	0.10	%	227,178		15.620822		3,548,707	0.38	%	-0.75	%
2007	0.20	%	151,814		15.532546		2,358,058	0.38	%	-0.85	%
2007	0.25	%	418,268		15.488598		6,478,385	0.38	%	-0.90	%
2007	0.40	%	207,618		15.357469		3,188,487	0.38	%	-1.05	%
2006	0.00	%	707,480		15.813075		11,187,434	0.38	%	14.41	%
2006	0.10	%	28,070		15.739536		441,809	0.38	%	14.30	%
2006	0.20	%	155,436		15.666332		2,435,112	0.38	%	14.18	%
2006	0.25	%	247,338		15.629868		3,865,860	0.38	%	14.13	%
2006	0.40	%	418,714		15.520951		6,498,839	0.38	%	13.96	%
2005	0.00	%	581,680		13.821296		8,039,571	0.00	%	7.23	%
2005	0.10	%	37,378		13.770744		514,723	0.00	%	7.13	%
2005	0.20	%	219,726		13.720362		3,014,720	0.00	%	7.02	%
2005	0.25	%	162,720		13.695264		2,228,493	0.00	%	6.97	%
2005	0.40	%	434,388		13.620186		5,916,445	0.00	%	6.81	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Stock Index Fund, Inc. - Initial Shares (DSIF)
2009	0.00	%	7,609,790	$	13.728464	$	104,470,728	2.09	%	26.33	%
2009	0.10	%	697,601		10.045645		7,007,852	2.09	%	26.21	%
2009	0.20	%	3,048,450		9.657668		29,440,918	2.09	%	26.08	%
2009	0.25	%	12,874,664		9.613888		123,775,578	2.09	%	26.02	%
2009	0.40	%	14,133		11.302075		159,732	2.09	%	25.83	%
2008	0.00	%	8,607,774		10.866779		93,538,778	2.11	%	-37.14	%
2008	0.10	%	798,401		7.959597		6,354,950	2.11	%	-37.20	%
2008	0.20	%	3,600,239		7.659842		27,577,262	2.11	%	-37.27	%
2008	0.25	%	12,257,626		7.628923		93,512,485	2.11	%	-37.30	%
2008	0.40	%	2,216,931		8.982024		19,912,527	2.11	%	-37.39	%
2007	0.00	%	9,395,826		17.287487		162,430,220	1.72	%	5.26	%
2007	0.10	%	715,466		12.675284		9,068,735	1.72	%	5.15	%
2007	0.20	%	3,344,206		12.210172		40,833,330	1.72	%	5.04	%
2007	0.25	%	10,532,952		12.166992		128,154,343	1.72	%	4.99	%
2007	0.40	%	3,158,044		14.346541		45,307,008	1.72	%	4.83	%
2006	0.00	%	10,489,244		16.424348		172,278,994	1.64	%	15.50	%
2006	0.10	%	363,900		12.054530		4,386,643	1.64	%	15.38	%
2006	0.20	%	3,580,384		11.623891		41,617,993	1.64	%	15.27	%
2006	0.25	%	8,834,012		11.588607		102,373,893	1.64	%	15.21	%
2006	0.40	%	4,780,522		13.685152		65,422,170	1.64	%	15.04	%
2005	0.00	%	12,914,370		14.220511		183,648,941	1.63	%	4.69	%
2005	0.10	%	426,152		10.447448		4,452,201	1.63	%	4.59	%
2005	0.20	%	6,634,008		10.084272		66,899,141	1.63	%	4.48	%
2005	0.25	%	8,079,650		10.058674		81,270,565	1.63	%	4.43	%
2005	0.40	%	3,928,314		11.896207		46,732,037	1.63	%	4.27	%
The Dreyfus Socially Responsible Growth Fund, Inc. - Initial Shares (DSRG)
2009	0.00	%	819,703		11.792335		9,666,212	0.98	%	33.76	%
2009	0.10	%	81,262		8.505196		691,149	0.98	%	33.62	%
2009	0.25	%	37,056		7.708595		285,650	0.98	%	33.42	%
2008	0.00	%	903,627		8.816356		7,966,697	0.76	%	-34.42	%
2008	0.10	%	108,438		6.365134		690,222	0.76	%	-34.49	%
2008	0.25	%	47,574		5.777639		274,865	0.76	%	-34.59	%
2007	0.00	%	990,572		13.444500		13,317,745	0.54	%	7.79	%
2007	0.10	%	116,744		9.716245		1,134,313	0.54	%	7.68	%
2007	0.25	%	50,616		8.832711		447,076	0.54	%	7.51	%
2006	0.00	%	1,115,238		12.473391		13,910,800	0.11	%	9.20	%
2006	0.10	%	84,702		9.023502		764,309	0.11	%	9.09	%
2006	0.25	%	91,596		8.215346		752,493	0.11	%	8.93	%
2006	0.40	%	90		10.406467		937	0.11	%	8.77	%
2005	0.00	%	1,203,742		11.422458		13,749,692	0.00	%	3.62	%
2005	0.10	%	90,610		8.271484		749,479	0.00	%	3.51	%
2005	0.25	%	101,932		7.541951		768,766	0.00	%	3.36	%
2005	0.40	%	734		9.567773		7,023	0.00	%	3.20	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Appreciation Portfolio - Initial Shares (DCAP)
2009	0.00	%	954,621	$	15.589221	$	14,881,798	2.64	%	22.56	%
2009	0.10	%	86,738		11.407200		989,438	2.64	%	22.44	%
2009	0.20	%	111,948		10.616570		1,188,504	2.64	%	22.31	%
2009	0.25	%	626,873		10.568440		6,625,070	2.64	%	22.25	%
2009	0.40	%	8,289		12.631233		104,700	2.64	%	22.07	%
2008	0.00	%	1,041,473		12.719805		13,247,333	2.12	%	-29.55	%
2008	0.10	%	92,545		9.316859		862,229	2.12	%	-29.62	%
2008	0.20	%	101,573		8.679771		881,630	2.12	%	-29.69	%
2008	0.25	%	580,600		8.644744		5,019,138	2.12	%	-29.73	%
2008	0.40	%	31,192		10.347582		322,762	2.12	%	-29.83	%
2007	0.00	%	1,088,634		18.055279		19,655,591	1.56	%	7.13	%
2007	0.10	%	108,528		13.238181		1,436,713	1.56	%	7.02	%
2007	0.20	%	141,606		12.345312		1,748,170	1.56	%	6.92	%
2007	0.25	%	947,616		12.301651		11,657,241	1.56	%	6.86	%
2007	0.40	%	65,988		14.746966		973,123	1.56	%	6.70	%
2006	0.00	%	1,210,752		16.853206		20,405,053	1.53	%	16.48	%
2006	0.10	%	41,554		12.369250		513,992	1.53	%	16.36	%
2006	0.20	%	139,136		11.546593		1,606,547	1.53	%	16.24	%
2006	0.25	%	752,594		11.511538		8,663,514	1.53	%	16.19	%
2006	0.40	%	265,322		13.820624		3,666,916	1.53	%	16.01	%
2005	0.00	%	1,326,026		14.469157		19,186,478	0.02	%	4.38	%
2005	0.10	%	49,014		10.630084		521,023	0.02	%	4.27	%
2005	0.20	%	66,566		9.932997		661,200	0.02	%	4.17	%
2005	0.25	%	561,480		9.907772		5,563,016	0.02	%	4.12	%
2005	0.40	%	471,228		11.912967		5,613,724	0.02	%	3.96	%
Developing Leaders Portfolio - Initial Shares (DSC)
2009	0.00	%	58,513		11.032594		645,550	1.70	%	26.04	%
2008	0.00	%	60,390		8.753397		528,618	0.83	%	-37.59	%
2007	0.00	%	46,856		14.026060		657,205	0.76	%	-11.06	%
2006	0.00	%	52,662		15.770049		830,482	0.40	%	3.77	%
2005	0.00	%	58,416		15.197076		887,752	0.00	%	5.80	%
International Value Portfolio - Initial Shares (DVIV)
2009	0.00	%	6,852		18.119573		124,155	4.09	%	30.97	%
2009	0.10	%	99,191		17.987291		1,784,177	4.09	%	30.84	%
2009	0.20	%	412,421		17.856007		7,364,192	4.09	%	30.71	%
2009	0.25	%	801,300		17.790702		14,255,690	4.09	%	30.65	%
2009	0.40	%	8,696		17.596305		153,017	4.09	%	30.45	%
2008	0.10	%	93,781		13.747265		1,289,232	2.45	%	-37.38	%
2008	0.20	%	485,843		13.660576		6,636,895	2.45	%	-37.45	%
2008	0.25	%	800,273		13.617429		10,897,661	2.45	%	-37.48	%
2008	0.40	%	81,026		13.488849		1,092,947	2.45	%	-37.57	%
2007	0.10	%	105,712		21.954680		2,320,873	1.57	%	4.05	%
2007	0.20	%	553,448		21.838102		12,086,254	1.57	%	3.94	%
2007	0.25	%	809,738		21.780049		17,636,133	1.57	%	3.89	%
2007	0.40	%	180,206		21.606848		3,893,684	1.57	%	3.74	%
2006	0.10	%	70,076		21.100318		1,478,626	1.25	%	22.47	%
2006	0.20	%	644,284		21.009394		13,536,016	1.25	%	22.35	%
2006	0.25	%	931,538		20.964071		19,528,829	1.25	%	22.29	%
2006	0.40	%	293,760		20.828757		6,118,656	1.25	%	22.11	%
2005	0.10	%	71,656		17.228282		1,234,510	0.00	%	11.78	%
2005	0.20	%	679,392		17.171154		11,665,945	0.00	%	11.67	%
2005	0.25	%	640,638		17.142660		10,982,239	0.00	%	11.61	%
2005	0.40	%	369,294		17.057481		6,299,225	0.00	%	11.44	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Variable Series II - Dreman Small Mid Cap Value VIP - Class B (SVSSVB)
2009	0.00	%	3,735	$	8.156371	$	30,464	1.81	%	29.28	%
2009	0.20	%	126,894		8.119519		1,030,318	1.81	%	29.02	%
2009	0.25	%	57,608		8.110345		467,221	1.81	%	28.96	%
2008	0.00	%	1,165		6.308994		7,350	0.57	%	-33.67	%
2008	0.10	%	469,621		6.301021		2,959,092	0.57	%	-33.74	%
2008	0.20	%	180,104		6.293064		1,133,406	0.57	%	-33.81	%
2008	0.25	%	21,870		6.289098		137,543	0.57	%	-33.84	%
Variable Series II - Strategic Value VIP - Class B (SVSHEB)
2009	0.25	%	68,810		7.351304		505,843	4.46	%	24.63	%
2008	0.25	%	88,068		5.898673		519,484	2.32	%	-46.29	%
2008	0.40	%	6,289		5.875072		36,948	2.32	%	-46.38	%
2007	0.25	%	66,654		10.983369		732,085	0.92	%	-2.43	%
2007	0.40	%	1,088		10.955918		11,920	0.92	%	-2.58	%
2006	0.25	%	15,180		11.257266		170,885	0.00	%	12.57	%	5/1/2006
Capital Appreciation Fund II - Primary Shares (FVCA2P)
2009	0.00	%	46,524		13.502613		628,196	1.05	%	13.48	%
2008	0.00	%	36,885		11.898648		438,882	0.34	%	-29.37	%
2007	0.00	%	30,528		16.845591		514,262	0.72	%	9.88	%
2006	0.00	%	27,898		15.330912		427,702	0.75	%	16.21	%
2005	0.00	%	26,192		13.192087		345,527	1.04	%	1.91	%
Clover Value Fund II - Primary Shares (FALF)
2009	0.00	%	15,949		11.641309		185,667	2.79	%	14.72	%
2008	0.00	%	18,003		10.147874		182,692	1.86	%	-33.79	%
2007	0.00	%	18,632		15.327257		285,577	1.51	%	-9.66	%
2006	0.00	%	21,354		16.967010		362,314	1.46	%	16.81	%
2005	0.00	%	21,684		14.525597		314,973	1.48	%	5.02	%
Market Opportunity Fund II - Service Shares (FVMOS)
2009	0.00	%	71,443		10.283025		734,650	1.47	%	1.28	%
2008	0.00	%	76,516		10.152569		776,834	1.01	%	-0.86	%
2007	0.00	%	4,512		10.240958		46,207	1.07	%	-1.48	%
2006	0.00	%	3,964		10.395256		41,207	0.00	%	3.95	%	5/1/2006

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Quality Bond Fund II - Primary Shares (FQB)
2009	0.00	%	1,207,203	$	17.324766	$	20,914,509	6.41	%	20.43	%
2009	0.10	%	43,709		17.141028		749,217	6.41	%	20.31	%
2009	0.25	%	828,781		16.869071		13,980,766	6.41	%	20.13	%
2009	0.40	%	3,689		16.601438		61,243	6.41	%	19.95	%
2008	0.00	%	1,273,310		14.385247		18,316,879	5.71	%	-7.29	%
2008	0.10	%	48,074		14.246920		684,906	5.71	%	-7.38	%
2008	0.25	%	721,614		14.041907		10,132,837	5.71	%	-7.52	%
2008	0.40	%	6,201		13.839860		85,821	5.71	%	-7.66	%
2007	0.00	%	1,451,108		15.516026		22,515,429	5.83	%	5.38	%
2007	0.10	%	412,398		15.382206		6,343,591	5.83	%	5.28	%
2007	0.20	%	110,682		15.249527		1,687,848	5.83	%	5.17	%
2007	0.25	%	776,642		15.183610		11,792,229	5.83	%	5.12	%
2007	0.40	%	18,180		14.987597		272,475	5.83	%	4.96	%
2006	0.00	%	1,685,612		14.723396		24,817,933	5.17	%	4.15	%
2006	0.10	%	380,302		14.611096		5,556,629	5.17	%	4.05	%
2006	0.20	%	197,756		14.499637		2,867,390	5.17	%	3.95	%
2006	0.25	%	1,173,262		14.444216		16,946,850	5.17	%	3.89	%
2006	0.40	%	68,922		14.279265		984,156	5.17	%	3.74	%
2005	0.00	%	2,483,218		14.136175		35,103,204	3.55	%	1.30	%
2005	0.10	%	394,406		14.042347		5,538,386	3.55	%	1.20	%
2005	0.20	%	1,334,518		13.949122		18,615,354	3.55	%	1.10	%
2005	0.25	%	1,963,430		13.902748		27,297,073	3.55	%	1.05	%
2005	0.40	%	592,368		13.764550		8,153,679	3.55	%	0.89	%
VIP Fund - Contrafund Portfolio - Service Class (FCS)
2009	0.00	%	3,669,623		21.093947		77,406,833	1.29	%	35.66	%
2009	0.10	%	488,468		15.161297		7,405,808	1.29	%	35.53	%
2009	0.20	%	1,321,851		14.228141		18,807,482	1.29	%	35.39	%
2009	0.25	%	3,013,281		14.163669		42,679,115	1.29	%	35.33	%
2009	0.40	%	14,958		17.614183		263,473	1.29	%	35.12	%
2008	0.00	%	4,190,707		15.548565		65,159,480	0.93	%	-42.61	%
2008	0.10	%	522,978		11.186730		5,850,414	0.93	%	-42.67	%
2008	0.20	%	2,850,610		10.508698		29,956,200	0.93	%	-42.73	%
2008	0.25	%	3,082,104		10.466315		32,258,271	0.93	%	-42.76	%
2008	0.40	%	367,375		13.035628		4,788,964	0.93	%	-42.84	%
2007	0.00	%	4,524,124		27.094222		122,577,620	0.89	%	17.51	%
2007	0.10	%	503,350		19.513053		9,821,895	0.89	%	17.39	%
2007	0.20	%	1,674,382		18.348754		30,722,823	0.89	%	17.27	%
2007	0.25	%	3,212,196		18.283913		58,731,512	0.89	%	17.21	%
2007	0.40	%	694,122		22.806621		15,830,577	0.89	%	17.04	%
2006	0.00	%	4,668,602		23.057410		107,645,870	1.12	%	11.59	%
2006	0.10	%	155,940		16.622464		2,592,107	1.12	%	11.48	%
2006	0.20	%	1,713,066		15.646354		26,803,237	1.12	%	11.37	%
2006	0.25	%	2,614,782		15.598891		40,787,699	1.12	%	11.31	%
2006	0.40	%	967,474		19.486792		18,852,965	1.12	%	11.15	%
2005	0.00	%	4,501,900		20.662750		93,021,634	0.19	%	16.85	%
2005	0.10	%	216,460		14.910969		3,227,628	0.19	%	16.73	%
2005	0.20	%	1,838,026		14.049369		25,823,106	0.19	%	16.61	%
2005	0.25	%	1,766,496		14.013727		24,755,193	0.19	%	16.56	%
2005	0.40	%	1,090,144		17.532748		19,113,220	0.19	%	16.38	%
VIP Fund - Energy Portfolio - Service Class 2 (FNRS2)
2009	0.00	%	630,089		15.444750		9,731,567	0.22	%	47.57	%
2008	0.00	%	747,087		10.465765		7,818,837	0.00	%	-54.40	%
2007	0.00	%	621,068		22.953063		14,255,413	0.12	%	45.64	%
2006	0.00	%	488,940		15.759845		7,705,619	0.75	%	16.62	%
2005	0.00	%	243,526		13.514321		3,291,089	0.64	%	35.14	%	5/2/2005

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VIP Fund - Equity-Income Portfolio - Service Class (FEIS)
2009	0.00	%	2,900,543	$	14.073509	$	40,820,818	2.16	%	30.03	%
2009	0.10	%	249,158		12.214029		3,043,223	2.16	%	29.90	%
2009	0.20	%	420,614		11.225322		4,721,528	2.16	%	29.77	%
2009	0.25	%	1,304,182		11.174471		14,573,544	2.16	%	29.71	%
2009	0.40	%	8,222		11.961703		98,349	2.16	%	29.51	%
2008	0.00	%	3,254,696		10.823135		35,226,014	2.35	%	-42.70	%
2008	0.10	%	294,647		9.402510		2,770,421	2.35	%	-42.76	%
2008	0.20	%	412,573		8.650050		3,568,777	2.35	%	-42.82	%
2008	0.25	%	1,761,859		8.615165		15,178,706	2.35	%	-42.85	%
2008	0.40	%	74,107		9.235955		684,449	2.35	%	-42.93	%
2007	0.00	%	3,474,112		18.889723		65,625,013	1.67	%	1.42	%
2007	0.10	%	291,212		16.426769		4,783,672	1.67	%	1.32	%
2007	0.20	%	488,726		15.127358		7,393,133	1.67	%	1.21	%
2007	0.25	%	1,729,636		15.073906		26,072,370	1.67	%	1.16	%
2007	0.40	%	275,862		16.184435		4,464,671	1.67	%	1.01	%
2006	0.00	%	3,666,100		18.625658		68,283,525	3.15	%	20.08	%
2006	0.10	%	114,862		16.213431		1,862,307	3.15	%	19.96	%
2006	0.20	%	524,062		14.945916		7,832,587	3.15	%	19.84	%
2006	0.25	%	1,907,206		14.900594		28,418,502	3.15	%	19.78	%
2006	0.40	%	520,282		16.022504		8,336,220	3.15	%	19.60	%
2005	0.00	%	3,799,536		15.511120		58,935,059	1.56	%	5.76	%
2005	0.10	%	129,586		13.515730		1,751,449	1.56	%	5.65	%
2005	0.20	%	600,930		12.471541		7,494,523	1.56	%	5.55	%
2005	0.25	%	1,459,748		12.439919		18,159,147	1.56	%	5.49	%
2005	0.40	%	722,038		13.396579		9,672,839	1.56	%	5.34	%
VIP Fund - Freedom Fund 2010 Portfolio - Service Class (FF10S)
2009	0.00	%	151,807		11.989176		1,820,041	3.90	%	24.15	%
2009	0.20	%	5,103		11.877840		60,613	3.90	%	23.90	%
2009	0.25	%	713		11.850165		8,449	3.90	%	23.84	%
2008	0.00	%	133,384		9.656832		1,288,067	2.70	%	-25.08	%
2008	0.20	%	1,657		9.586290		15,884	2.70	%	-25.23	%
2008	0.25	%	151		9.568737		1,445	2.70	%	-25.26	%
2007	0.00	%	121,944		12.888793		1,571,711	3.28	%	8.65	%
2006	0.00	%	56,804		11.863160		673,875	2.70	%	9.78	%
2005	0.00	%	15,242		10.806063		164,706	0.47	%	8.06	%	5/2/2005
VIP Fund - Freedom Fund 2020 Portfolio - Service Class (FF20S)
2009	0.00	%	331,447		11.867504		3,933,449	3.37	%	28.78	%
2009	0.20	%	3,437		11.757279		40,410	3.37	%	28.52	%
2009	0.25	%	172,400		11.729876		2,022,231	3.37	%	28.45	%
2008	0.00	%	331,111		9.215628		3,051,396	3.25	%	-32.71	%
2008	0.25	%	55,034		9.131542		502,545	3.25	%	-32.88	%
2008	0.40	%	22,241		9.081452		201,981	3.25	%	-32.98	%
2007	0.00	%	222,540		13.695591		3,047,817	2.67	%	10.17	%
2006	0.00	%	109,012		12.431698		1,355,204	2.11	%	11.81	%
2005	0.00	%	52,700		11.118664		585,954	1.32	%	11.19	%	5/2/2005
VIP Fund - Freedom Fund 2030 Portfolio - Service Class (FF30S)
2009	0.00	%	223,653		11.600974		2,594,593	2.39	%	31.40	%
2009	0.20	%	5,273		11.493181		60,604	2.39	%	31.14	%
2009	0.25	%	34,265		11.466383		392,896	2.39	%	31.08	%
2008	0.00	%	189,269		8.828445		1,670,951	2.64	%	-38.08	%
2008	0.20	%	3,626		8.763926		31,778	2.64	%	-38.20	%
2008	0.25	%	14,454		8.747863		126,442	2.64	%	-38.23	%
2008	0.40	%	9,318		8.699870		81,065	2.64	%	-38.32	%
2007	0.00	%	136,304		14.256765		1,943,254	2.62	%	11.21	%
2006	0.00	%	54,734		12.819894		701,684	2.16	%	13.15	%
2005	0.00	%	23,432		11.329788		265,480	1.38	%	13.30	%	5/2/2005
VIP Fund - Growth & Income Portfolio - Service Class (FGIS)
2009	0.20	%	8,111		7.471827		60,604	0.11	%	26.91	%
2009	0.25	%	1,133		7.464354		8,457	0.11	%	26.84	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VIP Fund - Growth Opportunities Portfolio - Service Class (FGOS)
2009	0.00	%	756,757	$	9.203011	$	6,964,443	0.38	%	45.72	%
2009	0.10	%	70,834		7.410032		524,882	0.38	%	45.57	%
2009	0.25	%	44,684		8.440703		377,164	0.38	%	45.36	%
2008	0.00	%	797,395		6.315602		5,036,029	0.34	%	-55.06	%
2008	0.10	%	79,193		5.090243		403,112	0.34	%	-55.10	%
2008	0.25	%	52,092		5.806945		302,495	0.34	%	-55.17	%
2007	0.00	%	876,024		14.053200		12,310,940	0.00	%	23.04	%
2007	0.10	%	87,966		11.337986		997,357	0.00	%	22.92	%
2007	0.25	%	62,164		12.953846		805,263	0.00	%	22.73	%
2006	0.00	%	1,014,378		11.421365		11,585,581	0.69	%	5.30	%
2006	0.10	%	18,424		9.223917		169,941	0.69	%	5.20	%
2006	0.25	%	127,338		10.554406		1,343,977	0.69	%	5.04	%
2005	0.00	%	1,129,706		10.846338		12,253,173	0.84	%	8.86	%
2005	0.10	%	18,822		8.768269		165,036	0.84	%	8.75	%
2005	0.25	%	326,516		10.048055		3,280,851	0.84	%	8.59	%
2005	0.40	%	608		9.527944		5,793	0.84	%	8.43	%
VIP Fund - Growth Portfolio - Service Class (FGS)
2009	0.00	%	3,107,304		12.965334		40,287,234	0.32	%	28.15	%
2009	0.10	%	292,689		8.419589		2,464,321	0.32	%	28.02	%
2009	0.20	%	596,741		7.499084		4,475,011	0.32	%	27.89	%
2009	0.25	%	2,310,471		7.465060		17,247,805	0.32	%	27.83	%
2009	0.40	%	24,913		10.725399		267,202	0.32	%	27.64	%
2008	0.00	%	3,467,374		10.117480		35,081,087	0.74	%	-47.23	%
2008	0.10	%	986,037		6.576790		6,484,958	0.74	%	-47.29	%
2008	0.20	%	580,783		5.863617		3,405,489	0.74	%	-47.34	%
2008	0.25	%	2,552,430		5.839928		14,906,007	0.74	%	-47.37	%
2008	0.40	%	113,777		8.403086		956,078	0.74	%	-47.44	%
2007	0.00	%	3,775,216		19.173877		72,385,527	0.62	%	26.87	%
2007	0.10	%	1,087,228		12.476360		13,564,648	0.62	%	26.74	%
2007	0.20	%	882,468		11.134607		9,825,934	0.62	%	26.62	%
2007	0.25	%	1,845,202		11.095199		20,472,883	0.62	%	26.55	%
2007	0.40	%	190,114		15.988944		3,039,722	0.62	%	26.36	%
2006	0.00	%	3,992,818		15.113032		60,343,586	0.28	%	6.73	%
2006	0.10	%	963,760		9.843867		9,487,125	0.28	%	6.63	%
2006	0.20	%	1,027,390		8.794051		9,034,920	0.28	%	6.52	%
2006	0.25	%	2,159,692		8.767341		18,934,756	0.28	%	6.47	%
2006	0.40	%	245,682		12.653389		3,108,710	0.28	%	6.31	%
2005	0.00	%	4,330,880		14.159785		61,324,330	0.41	%	5.67	%
2005	0.10	%	1,048,788		9.232178		9,682,598	0.41	%	5.57	%
2005	0.20	%	525,004		8.255819		4,334,338	0.41	%	5.46	%
2005	0.25	%	2,214,058		8.234853		18,232,442	0.41	%	5.41	%
2005	0.40	%	510,730		11.902677		6,079,054	0.41	%	5.25	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VIP Fund - High Income Portfolio - Service Class (FHIS)
2009	0.00	%	522,350	$	12.786757	$	6,679,163	6.43	%	43.77	%
2009	0.10	%	194,653		12.604336		2,453,472	6.43	%	43.63	%
2009	0.20	%	122,251		16.042868		1,961,257	6.43	%	43.49	%
2009	0.25	%	158,484		15.970114		2,531,008	6.43	%	43.41	%
2008	0.00	%	671,992		8.893725		5,976,512	8.01	%	-25.06	%
2008	0.10	%	637,990		8.775597		5,598,743	8.01	%	-25.14	%
2008	0.20	%	76,481		11.180781		855,117	8.01	%	-25.21	%
2008	0.25	%	151,548		11.135640		1,687,584	8.01	%	-25.25	%
2007	0.00	%	877,636		11.868272		10,416,023	8.58	%	2.66	%
2007	0.10	%	759,028		11.722369		8,897,606	8.58	%	2.55	%
2007	0.20	%	208,598		14.950148		3,118,571	8.58	%	2.45	%
2007	0.25	%	178,522		14.897237		2,659,485	8.58	%	2.40	%
2006	0.00	%	1,194,886		11.561165		13,814,274	7.58	%	11.18	%
2006	0.10	%	628,630		11.430519		7,185,567	7.58	%	11.07	%
2006	0.20	%	10,750		14.592608		156,871	7.58	%	10.96	%
2006	0.25	%	195,198		14.548271		2,839,793	7.58	%	10.90	%
2006	0.40	%	244		10.547905		2,574	7.58	%	10.73	%
2005	0.00	%	1,308,856		10.398866		13,610,618	14.70	%	2.52	%
2005	0.10	%	653,958		10.291612		6,730,282	14.70	%	2.42	%
2005	0.20	%	53,750		13.151735		706,906	14.70	%	2.32	%
2005	0.25	%	195,986		13.118317		2,571,006	14.70	%	2.27	%
2005	0.40	%	2,824		9.525383		26,900	14.70	%	2.11	%
VIP Fund - High Income Portfolio - Service Class R (FHISR)
2009	0.00	%	350,965		10.674246		3,746,287	8.96	%	43.93	%
2008	0.00	%	230,571		7.416301		1,709,984	7.80	%	-24.98	%
2007	0.00	%	231,578		9.885500		2,289,264	10.69	%	-1.15	%	5/1/2007
VIP Fund - Index 500 Portfolio - Initial Class (FIP)
2009	0.20	%	498,840		8.059227		4,020,265	2.45	%	26.35	%
2009	0.25	%	69,655		8.051179		560,805	2.45	%	26.29	%
2008	0.20	%	505,186		6.378330		3,222,243	2.29	%	-36.22	%	1/2/2008
2008	0.25	%	46,125		6.375146		294,054	2.29	%	-36.25	%	1/2/2008
VIP Fund - Investment Grade Bond Portfolio - Service Class (FIGBS)
2009	0.00	%	1,066,040		13.222437		14,095,647	8.80	%	15.67	%
2009	0.10	%	75,947		13.134577		997,532	8.80	%	15.56	%
2009	0.20	%	12,441		13.047289		162,321	8.80	%	15.44	%
2009	0.25	%	106,438		13.003875		1,384,106	8.80	%	15.38	%
2008	0.00	%	1,078,108		11.430864		12,323,706	3.94	%	-3.35	%
2008	0.10	%	75,054		11.366264		853,084	3.94	%	-3.44	%
2008	0.25	%	100,055		11.270047		1,127,625	3.94	%	-3.59	%
2008	0.40	%	4,637		11.174634		51,817	3.94	%	-3.73	%
2007	0.00	%	969,956		11.826500		11,471,185	3.80	%	4.21	%
2007	0.10	%	72,344		11.771423		851,592	3.80	%	4.11	%
2007	0.20	%	81,300		11.716596		952,559	3.80	%	4.00	%
2007	0.25	%	102,048		11.689304		1,192,870	3.80	%	3.95	%
2007	0.40	%	5,038		11.607727		58,480	3.80	%	3.79	%
2006	0.00	%	855,338		11.348586		9,706,877	3.34	%	4.30	%
2006	0.20	%	64,972		11.265752		731,958	3.34	%	4.09	%
2006	0.25	%	49,006		11.245144		551,080	3.34	%	4.04	%
2006	0.40	%	880		11.183530		9,842	3.34	%	3.88	%
2005	0.00	%	649,570		10.880732		7,067,797	2.69	%	2.08	%
2005	0.25	%	33,064		10.808463		357,371	2.69	%	1.83	%
2005	0.40	%	372		10.765329		4,005	2.69	%	1.67	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VIP Fund - Mid Cap Portfolio - Service Class (FMCS)
2009	0.00	%	1,033,209	$	22.878053	$	23,637,810	0.58	%	40.01	%
2009	0.10	%	66,502		22.726025		1,511,326	0.58	%	39.87	%
2009	0.20	%	52,799		22.575019		1,191,938	0.58	%	39.73	%
2009	0.25	%	483,255		22.499878		10,873,179	0.58	%	39.66	%
2009	0.40	%	161		22.275993		3,586	0.58	%	39.46	%
2008	0.00	%	1,053,808		16.339788		17,218,999	0.38	%	-39.51	%
2008	0.10	%	60,956		16.247436		990,379	0.38	%	-39.57	%
2008	0.20	%	40,911		16.155616		660,942	0.38	%	-39.63	%
2008	0.25	%	395,836		16.109892		6,376,875	0.38	%	-39.66	%
2008	0.40	%	174,217		15.973520		2,782,859	0.38	%	-39.75	%
2007	0.00	%	1,090,690		27.011367		29,461,028	0.72	%	15.49	%
2007	0.10	%	41,774		26.885640		1,123,121	0.72	%	15.37	%
2007	0.25	%	354,360		26.698163		9,460,761	0.72	%	15.20	%
2007	0.40	%	51,988		26.511996		1,378,306	0.72	%	15.02	%
2006	0.00	%	1,042,192		23.389128		24,375,962	0.23	%	12.59	%
2006	0.25	%	172,826		23.176101		4,005,433	0.23	%	12.31	%
2006	0.40	%	35,172		23.049221		810,687	0.23	%	12.14	%
2005	0.00	%	868,756		20.773676		18,047,256	0.00	%	18.20	%
2005	0.25	%	159,618		20.635857		3,293,854	0.00	%	17.91	%
2005	0.40	%	3,976		20.553596		81,721	0.00	%	17.73	%
VIP Fund - Overseas Portfolio - Service Class (FOS)
2009	0.00	%	520,924		15.435366		8,040,653	2.05	%	26.44	%
2009	0.10	%	280,028		13.119571		3,673,847	2.05	%	26.31	%
2009	0.20	%	97,757		11.712682		1,144,997	2.05	%	26.19	%
2009	0.25	%	1,344,902		11.659560		15,680,966	2.05	%	26.12	%
2009	0.40	%	2,145		12.468464		26,745	2.05	%	25.93	%
2008	0.00	%	628,957		12.207782		7,678,170	2.43	%	-43.86	%
2008	0.10	%	283,593		10.386619		2,945,572	2.43	%	-43.92	%
2008	0.20	%	98,672		9.282079		915,881	2.43	%	-43.98	%
2008	0.25	%	1,629,016		9.244601		15,059,603	2.43	%	-44.00	%
2008	0.40	%	84,310		9.900810		834,737	2.43	%	-44.09	%
2007	0.00	%	761,402		21.746938		16,558,162	3.19	%	17.21	%
2007	0.10	%	223,530		18.521287		4,140,063	3.19	%	17.09	%
2007	0.20	%	308,712		16.568287		5,114,829	3.19	%	16.97	%
2007	0.25	%	1,540,530		16.509660		25,433,627	3.19	%	16.91	%
2007	0.40	%	205,152		17.708202		3,632,873	3.19	%	16.74	%
2006	0.00	%	963,186		18.554369		17,871,308	0.84	%	17.95	%
2006	0.10	%	106,768		15.818147		1,688,872	0.84	%	17.83	%
2006	0.20	%	271,410		14.164421		3,844,366	0.84	%	17.71	%
2006	0.25	%	1,070,198		14.121395		15,112,689	0.84	%	17.65	%
2006	0.40	%	581,496		15.169405		8,820,948	0.84	%	17.48	%
2005	0.00	%	1,411,140		15.731142		22,198,844	0.56	%	18.97	%
2005	0.10	%	116,010		13.424644		1,557,393	0.56	%	18.85	%
2005	0.20	%	473,692		12.033136		5,700,000	0.56	%	18.73	%
2005	0.25	%	742,572		12.002567		8,912,770	0.56	%	18.67	%
2005	0.40	%	700,420		12.912620		9,044,257	0.56	%	18.50	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
VIP Fund - Overseas Portfolio - Service Class R (FOSR)
2009	0.00	%	992,596	$	12.269434	$	12,178,591	2.07	%	26.49	%
2008	0.00	%	1,096,774		9.699843		10,638,536	2.55	%	-43.88	%
2007	0.00	%	1,080,792		17.283296		18,679,648	3.16	%	17.23	%
2006	0.00	%	985,990		14.743687		14,537,128	0.62	%	17.95	%
2005	0.00	%	579,174		12.499996		7,239,673	0.00	%	25.00	%	5/2/2005
VIP Fund - Value Strategies Portfolio - Service Class (FVSS)
2009	0.00	%	226,619		13.061648		2,960,018	0.51	%	57.40	%
2009	0.10	%	54,167		12.961834		702,104	0.51	%	57.24	%
2009	0.25	%	798		12.813506		10,225	0.51	%	57.00	%
2008	0.00	%	242,212		8.298533		2,010,004	0.56	%	-51.17	%
2008	0.10	%	51,422		8.243364		423,890	0.56	%	-51.22	%
2008	0.25	%	30,262		8.161269		246,976	0.56	%	-51.30	%
2007	0.00	%	495,906		16.996302		8,428,568	0.83	%	5.60	%
2007	0.10	%	45,242		16.900270		764,602	0.83	%	5.49	%
2007	0.25	%	3,262		16.757189		54,662	0.83	%	5.33	%
2006	0.00	%	494,372		16.095011		7,956,923	0.49	%	16.20	%
2006	0.10	%	4,096		16.020178		65,619	0.49	%	16.08	%
2006	0.25	%	2,506		15.908520		39,867	0.49	%	15.91	%
2006	0.40	%	14		15.797724		221	0.49	%	15.73	%
2005	0.00	%	510,536		13.851491		7,071,685	0.00	%	2.55	%
2005	0.10	%	6,844		13.800839		94,453	0.00	%	2.45	%
2005	0.25	%	884		13.725157		12,133	0.00	%	2.30	%
2005	0.40	%	2,310		13.649958		31,531	0.00	%	2.15	%
VIP Fund - VIP Freedom Fund 2015 Portfolio - Service Class (FF15S)
2009	0.00	%	5,406		9.301002		50,281	4.01	%	25.06	%
2009	0.25	%	121,907		9.262314		1,129,141	4.01	%	24.75	%
2008	0.25	%	37,047		7.424925		275,071	3.44	%	-25.75	%	5/1/2008
2008	0.40	%	81,705		7.417486		606,046	3.44	%	-25.83	%	5/1/2008
VIP Fund - VIP Freedom Fund 2025 Portfolio - Service Class (FF25S)
2009	0.00	%	94		8.806233		828	4.01	%	29.96	%
2009	0.25	%	71,285		8.769590		625,140	4.01	%	29.63	%
2008	0.25	%	1,777		6.764989		12,021	3.09	%	-32.35	%	5/1/2008
2008	0.40	%	33,939		6.758199		229,367	3.09	%	-32.42	%	5/1/2008
Franklin Income Securities Fund - Class 2 (FTVIS2)
2009	0.00	%	382,836		11.100337		4,249,609	8.31	%	35.59	%
2008	0.00	%	421,586		8.186428		3,451,283	5.51	%	-29.66	%
2007	0.00	%	416,188		11.637657		4,843,453	3.54	%	3.76	%
2006	0.00	%	117,590		11.216304		1,318,925	0.07	%	12.16	%	5/1/2006
Franklin Rising Dividends Securities Fund - Class 1 (FTVRDI)
2009	0.00	%	724,097		13.984451		10,126,099	1.80	%	17.67	%
2008	0.00	%	787,806		11.884088		9,362,356	2.02	%	-26.94	%
2007	0.00	%	910,630		16.266644		14,812,894	2.49	%	-2.41	%
2006	0.00	%	943,340		16.669002		15,724,536	1.23	%	17.43	%
2005	0.00	%	840,480		14.195085		11,930,685	1.01	%	3.68	%
Franklin Small Cap Value Securities Fund - Class 1 (FTVSVI)
2009	0.00	%	526,295		18.034685		9,491,565	1.92	%	29.54	%
2008	0.00	%	560,057		13.921598		7,796,888	1.42	%	-32.87	%
2007	0.00	%	545,164		20.738061		11,305,644	0.89	%	-2.14	%
2006	0.00	%	484,062		21.190555		10,257,542	0.82	%	17.30	%
2005	0.00	%	398,540		18.064784		7,199,539	0.92	%	8.99	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Franklin Small Cap Value Securities Fund - Class 2 (FTVSV2)
2009	0.00	%	24,186	$	11.233980	$	271,705	1.61	%	29.16	%
2009	0.10	%	45,532		11.181660		509,123	1.61	%	29.03	%
2009	0.20	%	16,337		11.129584		181,824	1.61	%	28.90	%
2009	0.25	%	329,020		11.103596		3,653,305	1.61	%	28.83	%
2008	0.00	%	13,222		8.697893		115,004	1.16	%	-33.02	%
2008	0.10	%	42,469		8.666053		368,039	1.16	%	-33.08	%
2008	0.20	%	2,572		8.634328		22,207	1.16	%	-33.15	%
2008	0.25	%	297,041		8.618488		2,560,044	1.16	%	-33.18	%
2008	0.40	%	25,833		8.571211		221,420	1.16	%	-33.28	%
2007	0.10	%	14,194		12.950462		183,819	0.63	%	-2.48	%
2007	0.25	%	317,232		12.898779		4,091,905	0.63	%	-2.62	%
2007	0.40	%	62,522		12.847323		803,240	0.63	%	-2.77	%
2006	0.25	%	208,584		13.246445		2,762,996	0.76	%	16.69	%
2006	0.40	%	62,174		13.213518		821,537	0.76	%	16.52	%
2005	0.25	%	11,480		11.351855		130,319	0.00	%	13.52	%	5/2/2005
2005	0.40	%	199,332		11.340582		2,260,541	0.00	%	13.41	%	5/2/2005
Mutual Discovery Global Securities Fund - Class 2 (FTVMD2)
2009	0.20	%	20,621		8.817252		181,821	1.18	%	23.07	%
2009	0.25	%	2,879		8.808466		25,360	1.18	%	23.01	%
2008	0.20	%	8,713		7.164503		62,424	1.90	%	-28.35	%	1/2/2008
2008	0.25	%	795		7.160940		5,693	1.90	%	-28.39	%	1/2/2008
Templeton Developing Markets Securities Fund - Class 3 (FTVDM3)
2009	0.00	%	329,156		17.256364		5,680,036	3.87	%	72.63	%
2008	0.00	%	275,997		9.996007		2,758,868	2.81	%	-52.67	%
2007	0.00	%	364,400		21.120230		7,696,212	2.19	%	28.70	%
2006	0.00	%	310,222		16.410826		5,090,999	1.29	%	28.17	%
2005	0.00	%	159,292		12.804274		2,039,618	0.06	%	28.04	%	5/2/2005
Templeton Foreign Securities Fund - Class 1 (TIF)
2009	0.00	%	84,266		20.155256		1,698,403	3.77	%	37.34	%
2008	0.00	%	99,305		14.675305		1,457,331	2.66	%	-40.23	%
2007	0.00	%	131,776		24.554735		3,235,725	2.08	%	15.79	%
2006	0.00	%	174,552		21.206570		3,701,649	1.39	%	21.70	%
2005	0.00	%	228,680		17.425708		3,984,911	1.53	%	10.48	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Templeton Foreign Securities Fund - Class 2 (TIF2)
2009	0.10	%	184,222	$	18.626590	$	3,431,428	3.25	%	36.91	%
2009	0.20	%	36,928		18.490649		682,823	3.25	%	36.77	%
2009	0.25	%	463,306		18.423035		8,535,503	3.25	%	36.70	%
2009	0.40	%	10,145		18.221708		184,859	3.25	%	36.50	%
2008	0.10	%	199,971		13.605462		2,720,698	2.30	%	-40.44	%
2008	0.20	%	41,270		13.519674		557,957	2.30	%	-40.50	%
2008	0.25	%	465,751		13.476974		6,276,914	2.30	%	-40.53	%
2008	0.40	%	33,468		13.349706		446,788	2.30	%	-40.62	%
2007	0.10	%	205,828		22.842250		4,701,575	1.86	%	15.34	%
2007	0.20	%	130,208		22.720977		2,958,453	1.86	%	15.23	%
2007	0.25	%	590,458		22.660573		13,380,117	1.86	%	15.17	%
2007	0.40	%	64,892		22.480343		1,458,794	1.86	%	14.99	%
2006	0.10	%	8,186		19.804108		162,116	1.24	%	21.32	%
2006	0.20	%	109,726		19.718779		2,163,663	1.24	%	21.20	%
2006	0.25	%	359,658		19.676237		7,076,716	1.24	%	21.14	%
2006	0.40	%	494,684		19.549201		9,670,677	1.24	%	20.96	%
2005	0.10	%	25,200		16.323349		411,348	1.12	%	10.06	%
2005	0.20	%	69,050		16.269222		1,123,390	1.12	%	9.95	%
2005	0.25	%	241,412		16.242222		3,921,067	1.12	%	9.89	%
2005	0.40	%	485,970		16.161499		7,854,004	1.12	%	9.73	%
Templeton Foreign Securities Fund - Class 3 (TIF3)
2009	0.00	%	428,311		12.945045		5,544,505	3.55	%	37.20	%
2008	0.00	%	502,570		9.435374		4,741,936	2.55	%	-40.39	%
2007	0.00	%	462,356		15.828965		7,318,617	2.11	%	15.45	%
2006	0.00	%	424,646		13.711150		5,822,385	1.34	%	21.46	%
2005	0.00	%	237,992		11.288544		2,686,583	0.34	%	12.89	%	5/2/2005
Templeton Global Bond Securities Fund - Class 2 (FTVGI2)
2009	0.00	%	9,362		12.842917		120,235	16.61	%	18.68	%
2009	0.25	%	189,274		12.770565		2,417,136	16.61	%	18.39	%
2008	0.00	%	1,646		10.821275		17,812	2.99	%	6.21	%
2008	0.25	%	93,179		10.787239		1,005,144	2.99	%	5.94	%
2008	0.40	%	100		10.766879		1,077	2.99	%	5.78	%
Templeton Global Bond Securities Fund - Class 3 (FTVGI3)
2009	0.00	%	410,243		15.605635		6,402,103	15.12	%	18.69	%
2008	0.00	%	490,278		13.148675		6,446,506	4.25	%	6.21	%
2007	0.00	%	280,836		12.380292		3,476,832	2.62	%	11.03	%
2006	0.00	%	138,640		11.150160		1,545,858	2.84	%	12.84	%
2005	0.00	%	53,324		9.881172		526,904	1.81	%	-1.19	%	5/2/2005
VIP Founding Funds Allocation Fund - Class 2 (FTVFA2)
2009	0.00	%	34,220		8.669683		296,677	3.31	%	30.25	%
2008	0.00	%	17,440		6.656135		116,083	3.75	%	-33.44	%	5/1/2008
Goldman Sachs VIT - Goldman Sachs Mid Cap Value Fund - Institutional Shares (GVMCE)
2009	0.10	%	117,092		17.989872		2,106,470	1.90	%	33.02	%
2009	0.20	%	732,755		17.858604		13,085,981	1.90	%	32.89	%
2009	0.25	%	1,759,781		17.793307		31,312,324	1.90	%	32.82	%
2009	0.40	%	1,601		17.598827		28,176	1.90	%	32.62	%
2008	0.10	%	128,526		13.524296		1,738,224	0.95	%	-37.11	%
2008	0.20	%	831,665		13.439050		11,176,788	0.95	%	-37.18	%
2008	0.25	%	1,507,852		13.396598		20,200,087	0.95	%	-37.21	%
2008	0.40	%	364,923		13.270057		4,842,549	0.95	%	-37.30	%
2007	0.10	%	160,214		21.505877		3,445,543	0.81	%	3.10	%
2007	0.20	%	1,061,686		21.391758		22,711,330	0.81	%	3.00	%
2007	0.25	%	1,727,904		21.334874		36,864,614	0.81	%	2.94	%
2007	0.40	%	707,562		21.165166		14,975,667	0.81	%	2.79	%
2006	0.10	%	29,454		20.859259		614,389	0.98	%	16.05	%
2006	0.20	%	1,042,500		20.769434		21,652,135	0.98	%	15.93	%
2006	0.25	%	1,231,810		20.724643		25,528,822	0.98	%	15.87	%
2006	0.40	%	1,066,122		20.590810		21,952,316	0.98	%	15.70	%
2005	0.10	%	75,394		17.974716		1,355,186	0.60	%	12.71	%
2005	0.20	%	1,081,334		17.915150		19,372,261	0.60	%	12.60	%
2005	0.25	%	792,502		17.885426		14,174,236	0.60	%	12.54	%
2005	0.40	%	1,114,814		17.796530		19,839,821	0.60	%	12.38	%
ClearBridge Variable Small Cap Growth Portfolio - Class I (SBVSG)
2009	0.00	%	92		8.379457		771	0.00	%	42.77	%
2009	0.25	%	32,585		8.332144		271,503	0.00	%	42.42	%
2008	0.00	%	166		5.869001		974	0.00	%	-40.71	%
2008	0.25	%	18,031		5.850489		105,490	0.00	%	-40.86	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Lincoln VIP Trust - Baron Growth Opportunities Funds - Service Class (BNCAI)
2009	0.00	%	19,056	$	16.485275	$	314,143	0.00	%	38.32	%
2009	0.10	%	46,598		16.364975		762,575	0.00	%	38.19	%
2009	0.20	%	138,033		16.245528		2,242,419	0.00	%	38.05	%
2009	0.25	%	451,652		16.186105		7,310,487	0.00	%	37.98	%
2009	0.40	%	566		16.009192		9,061	0.00	%	37.77	%
2008	0.00	%	8,641		11.917785		102,982	0.00	%	-39.14	%
2008	0.10	%	62,479		11.842641		739,916	0.00	%	-39.20	%
2008	0.20	%	120,684		11.767949		1,420,203	0.00	%	-39.26	%
2008	0.25	%	360,408		11.730770		4,227,863	0.00	%	-39.29	%
2008	0.40	%	95,250		11.619973		1,106,802	0.00	%	-39.38	%
2007	0.10	%	129,912		19.476896		2,530,283	0.00	%	3.32	%
2007	0.20	%	222,816		19.373459		4,316,717	0.00	%	3.21	%
2007	0.25	%	312,238		19.321952		6,033,048	0.00	%	3.16	%
2007	0.40	%	154,928		19.168269		2,969,702	0.00	%	3.01	%
2006	0.10	%	80,920		18.851618		1,525,473	0.00	%	15.41	%
2006	0.20	%	216,684		18.770366		4,067,238	0.00	%	15.29	%
2006	0.25	%	186,980		18.729880		3,502,113	0.00	%	15.23	%
2006	0.40	%	206,184		18.608964		3,836,871	0.00	%	15.06	%
2005	0.10	%	97,836		16.334885		1,598,140	0.00	%	3.26	%
2005	0.20	%	219,114		16.280709		3,567,331	0.00	%	3.16	%
2005	0.25	%	304,012		16.253697		4,941,319	0.00	%	3.11	%
2005	0.40	%	191,636		16.172933		3,099,316	0.00	%	2.95	%
Guardian Portfolio - I Class Shares (AMGP)
2009	0.00	%	2		18.170858		36	0.35	%	29.69	%
2009	0.10	%	68,145		13.030029		887,931	0.35	%	29.56	%
2009	0.25	%	56,767		11.974954		679,782	0.35	%	29.36	%
2008	0.00	%	392,065		14.011166		5,493,288	0.54	%	-37.24	%
2008	0.10	%	73,276		10.057230		736,954	0.54	%	-37.31	%
2008	0.25	%	86,429		9.256750		800,052	0.54	%	-37.40	%
2007	0.00	%	434,652		22.326685		9,704,338	0.26	%	7.39	%
2007	0.10	%	100,594		16.042197		1,613,749	0.26	%	7.28	%
2007	0.25	%	98,428		14.787583		1,455,512	0.26	%	7.12	%
2006	0.00	%	477,638		20.790721		9,930,438	0.70	%	13.38	%
2006	0.10	%	88,754		14.953594		1,327,191	0.70	%	13.26	%
2006	0.25	%	194,222		13.804932		2,681,222	0.70	%	13.09	%
2006	0.40	%	74		14.282531		1,057	0.70	%	12.93	%
2005	0.00	%	509,104		18.337744		9,335,819	0.15	%	8.39	%
2005	0.10	%	34,424		13.202464		454,482	0.15	%	8.28	%
2005	0.20	%	234,680		12.237616		2,871,924	0.15	%	8.18	%
2005	0.25	%	75,766		12.206553		924,842	0.15	%	8.12	%
2005	0.40	%	80,808		12.647762		1,022,040	0.15	%	7.96	%
International Portfolio - S Class Shares (AMINS)
2008	0.00	%	248,009		8.019658		1,988,947	0.00	%	-46.44	%
2007	0.00	%	280,340		14.972222		4,197,313	1.87	%	3.21	%
2006	0.00	%	140,884		14.506093		2,043,676	0.29	%	23.45	%
2005	0.00	%	53,950		11.750261		633,927	0.26	%	17.50	%	5/2/2005

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Mid-Cap Growth Portfolio - I Class Shares (AMCG)
2009	0.10	%	74,748	$	13.613710	$	1,017,598	0.00	%	31.47	%
2009	0.20	%	37,091		9.908467		367,515	0.00	%	31.34	%
2009	0.25	%	425,418		9.863529		4,196,123	0.00	%	31.27	%
2008	0.00	%	1,241,103		14.241194		17,674,789	0.00	%	-43.37	%
2008	0.10	%	457,960		10.355229		4,742,281	0.00	%	-43.43	%
2008	0.20	%	43,749		7.544382		330,059	0.00	%	-43.48	%
2008	0.25	%	464,312		7.513928		3,488,807	0.00	%	-43.51	%
2007	0.00	%	1,375,816		25.147074		34,597,747	0.00	%	22.53	%
2007	0.10	%	412,472		18.303613		7,549,728	0.00	%	22.40	%
2007	0.20	%	38,324		13.348628		511,573	0.00	%	22.28	%
2007	0.25	%	489,154		13.301400		6,506,433	0.00	%	22.22	%
2007	0.40	%	3,494		19.674042		68,741	0.00	%	22.04	%
2006	0.00	%	1,474,382		20.523539		30,259,536	0.00	%	14.69	%
2006	0.10	%	366,596		14.953339		5,481,834	0.00	%	14.58	%
2006	0.20	%	41,698		10.916267		455,187	0.00	%	14.47	%
2006	0.25	%	391,016		10.883119		4,255,474	0.00	%	14.41	%
2006	0.40	%	97,186		16.121456		1,566,780	0.00	%	14.24	%
2005	0.00	%	1,544,990		17.894121		27,646,238	0.00	%	13.74	%
2005	0.10	%	383,494		13.050574		5,004,817	0.00	%	13.63	%
2005	0.20	%	23,118		9.536717		220,470	0.00	%	13.51	%
2005	0.25	%	365,056		9.512489		3,472,591	0.00	%	13.46	%
2005	0.40	%	127,004		14.112212		1,792,307	0.00	%	13.29	%
Partners Portfolio - I Class Shares (AMTP)
2009	0.00	%	13,263		14.368560		190,570	0.68	%	56.07	%
2009	0.10	%	109,951		13.335919		1,466,298	0.68	%	55.92	%
2009	0.25	%	111,841		13.200579		1,476,366	0.68	%	55.68	%
2009	0.40	%	886		12.319713		10,915	0.68	%	55.45	%
2008	0.00	%	772,159		9.206209		7,108,657	0.48	%	-52.39	%
2008	0.10	%	101,292		8.553125		866,363	0.48	%	-52.44	%
2008	0.25	%	26,043		8.479038		220,820	0.48	%	-52.51	%
2008	0.40	%	1,125		7.925107		8,916	0.48	%	-52.58	%
2007	0.00	%	902,352		19.337705		17,449,417	0.62	%	9.34	%
2007	0.10	%	194,378		17.983949		3,495,684	0.62	%	9.23	%
2007	0.25	%	25,412		17.855044		453,732	0.62	%	9.06	%
2007	0.40	%	596		16.713743		9,961	0.62	%	8.90	%
2006	0.00	%	967,144		17.686426		17,105,321	0.68	%	12.24	%
2006	0.10	%	148,132		16.464820		2,438,967	0.68	%	12.13	%
2006	0.25	%	70,676		16.371496		1,157,072	0.68	%	11.96	%
2006	0.40	%	414		15.348160		6,354	0.68	%	11.79	%
2005	0.00	%	1,054,060		15.757590		16,609,445	0.98	%	18.04	%
2005	0.10	%	185,490		14.683836		2,723,705	0.98	%	17.93	%
2005	0.25	%	84,180		14.622460		1,230,919	0.98	%	17.75	%
2005	0.40	%	211,116		13.728969		2,898,405	0.98	%	17.58	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Regency Portfolio - I Class Shares (AMRI)
2009	0.00	%	13,249	$	8.428473	$	111,669	1.90	%	46.56	%
2009	0.25	%	342,170		8.351420		2,857,605	1.90	%	46.19	%
2008	0.00	%	23,511		5.750861		135,208	2.92	%	-45.82	%
2008	0.25	%	319,496		5.712555		1,825,138	2.92	%	-45.95	%
2008	0.40	%	10,164		5.689701		57,830	2.92	%	-46.04	%
2007	0.25	%	32,224		10.569832		340,602	0.46	%	3.04	%
2007	0.40	%	48,338		10.543396		509,647	0.46	%	2.89	%
2006	0.25	%	6,524		10.257708		66,921	0.44	%	2.58	%	5/1/2006
2006	0.40	%	34,570		10.247505		354,256	0.44	%	2.48	%	5/1/2006
Regency Portfolio - S Class Shares (AMRS)
2008	0.00	%	97,268		7.206627		700,974	0.95	%	-45.95	%
2007	0.00	%	94,148		13.332382		1,255,217	0.47	%	3.05	%
2006	0.00	%	62,360		12.937253		806,767	0.48	%	10.94	%
2005	0.00	%	23,100		11.661977		269,392	0.00	%	16.62	%	5/2/2005
Small-Cap Growth Portfolio - S Class Shares (AMFAS)
2009	0.00	%	70,054		11.397179		798,418	0.00	%	22.75	%
2009	0.10	%	19,428		11.313940		219,807	0.00	%	22.63	%
2009	0.25	%	50,987		11.190284		570,559	0.00	%	22.45	%
2008	0.00	%	74,557		9.284535		692,227	0.00	%	-39.47	%
2008	0.10	%	20,820		9.225949		192,084	0.00	%	-39.53	%
2008	0.25	%	29,832		9.138805		272,629	0.00	%	-39.62	%
2008	0.40	%	480		9.052482		4,345	0.00	%	-39.72	%
2007	0.00	%	70,284		15.339463		1,078,119	0.00	%	0.52	%
2007	0.10	%	24,496		15.257956		373,759	0.00	%	0.41	%
2007	0.20	%	13,934		15.176941		211,475	0.00	%	0.31	%
2007	0.25	%	20,928		15.136586		316,778	0.00	%	0.26	%
2007	0.40	%	1,998		15.016171		30,002	0.00	%	0.11	%
2006	0.00	%	54,558		15.260818		832,600	0.00	%	5.25	%
2006	0.10	%	9,420		15.195016		143,137	0.00	%	5.15	%
2006	0.20	%	11,666		15.129543		176,501	0.00	%	5.04	%
2006	0.25	%	18,450		15.096902		278,538	0.00	%	4.99	%
2006	0.40	%	7,818		14.999423		117,265	0.00	%	4.83	%
2005	0.00	%	69,514		14.499238		1,007,900	0.00	%	2.90	%
2005	0.10	%	1,074		14.451137		15,521	0.00	%	2.79	%
2005	0.20	%	9,828		14.403227		141,555	0.00	%	2.69	%
2005	0.25	%	15,290		14.379334		219,860	0.00	%	2.64	%
2005	0.40	%	20,788		14.307871		297,432	0.00	%	2.49	%
Socially Responsive Portfolio - I Class Shares (AMSRS)
2009	0.00	%	156,920		14.587514		2,289,073	2.13	%	31.43	%
2008	0.00	%	226,546		11.099348		2,514,513	2.16	%	-39.44	%
2007	0.00	%	254,068		18.328379		4,656,655	0.09	%	7.61	%
2006	0.00	%	160,134		17.031699		2,727,354	0.16	%	13.70	%
2005	0.00	%	104,292		14.979202		1,562,211	0.00	%	6.86	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Capital Appreciation Fund/VA - Non-Service Shares (OVGR)
2009	0.00	%	2,150,050	$	15.999951	$	34,400,695	0.33	%	44.52	%
2009	0.10	%	315,282		11.932216		3,762,013	0.33	%	44.37	%
2009	0.20	%	1,910,067		9.257266		17,681,998	0.33	%	44.23	%
2009	0.25	%	3,390,134		9.215295		31,241,085	0.33	%	44.16	%
2009	0.40	%	11,854		13.161667		156,018	0.33	%	43.94	%
2008	0.00	%	2,357,625		11.071272		26,101,908	0.14	%	-45.52	%
2008	0.10	%	586,696		8.264836		4,848,946	0.14	%	-45.57	%
2008	0.20	%	2,400,370		6.418454		15,406,664	0.14	%	-45.63	%
2008	0.25	%	3,405,107		6.392540		21,767,283	0.14	%	-45.65	%
2008	0.40	%	137,113		9.143789		1,253,732	0.14	%	-45.74	%
2007	0.00	%	2,560,294		20.320760		52,027,120	0.22	%	14.15	%
2007	0.10	%	671,050		15.184919		10,189,840	0.22	%	14.03	%
2007	0.20	%	1,732,160		11.804408		20,447,123	0.22	%	13.92	%
2007	0.25	%	3,734,518		11.762653		43,927,839	0.22	%	13.86	%
2007	0.40	%	364,698		16.850466		6,145,331	0.22	%	13.69	%
2006	0.00	%	2,846,436		17.801944		50,672,094	0.38	%	7.95	%
2006	0.10	%	530,754		13.316078		7,067,562	0.38	%	7.84	%
2006	0.20	%	1,641,104		10.362024		17,005,159	0.38	%	7.73	%
2006	0.25	%	3,188,414		10.330569		32,938,131	0.38	%	7.68	%
2006	0.40	%	1,040,592		14.821276		15,422,901	0.38	%	7.52	%
2005	0.00	%	2,994,184		16.491164		49,377,579	0.91	%	5.10	%
2005	0.10	%	558,612		12.347907		6,897,689	0.91	%	4.99	%
2005	0.20	%	1,970,560		9.618219		18,953,278	0.91	%	4.89	%
2005	0.25	%	3,734,142		9.593805		35,824,630	0.91	%	4.84	%
2005	0.40	%	1,425,776		13.784845		19,654,101	0.91	%	4.68	%
Global Securities Fund/VA - Class 3 (OVGS3)
2009	0.00	%	1,233,718		12.609317		15,556,341	2.21	%	39.70	%
2008	0.00	%	1,290,636		9.026171		11,649,501	1.57	%	-40.19	%
2007	0.00	%	1,378,496		15.092302		20,804,678	1.24	%	6.34	%
2006	0.00	%	1,194,348		14.192798		16,951,140	0.84	%	17.69	%
2005	0.00	%	723,136		12.059670		8,720,782	0.00	%	20.60	%	5/2/2005

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Global Securities Fund/VA - Non-Service Shares (OVGS)
2009	0.00	%	848,172	$	13.397168	$	11,363,103	2.21	%	39.77	%
2009	0.10	%	263,715		13.268257		3,499,038	2.21	%	39.63	%
2009	0.20	%	671,992		13.140568		8,830,357	2.21	%	39.49	%
2009	0.25	%	1,906,475		13.077210		24,931,374	2.21	%	39.42	%
2009	0.40	%	360		12.888902		4,640	2.21	%	39.21	%
2008	0.00	%	1,018,581		9.585005		9,763,104	1.55	%	-40.19	%
2008	0.10	%	292,991		9.502282		2,784,083	1.55	%	-40.25	%
2008	0.20	%	771,294		9.420249		7,265,782	1.55	%	-40.31	%
2008	0.25	%	1,877,301		9.379518		17,608,179	1.55	%	-40.34	%
2008	0.40	%	134,904		9.258335		1,248,986	1.55	%	-40.43	%
2007	0.00	%	1,244,300		16.025167		19,940,115	1.33	%	6.32	%
2007	0.10	%	319,328		15.902782		5,078,204	1.33	%	6.21	%
2007	0.20	%	664,384		15.781314		10,484,853	1.33	%	6.11	%
2007	0.25	%	1,785,708		15.720950		28,073,026	1.33	%	6.05	%
2007	0.40	%	792,482		15.541185		12,316,109	1.33	%	5.89	%
2006	0.00	%	1,579,632		15.072696		23,809,313	1.07	%	17.69	%
2006	0.10	%	150,202		14.972632		2,248,919	1.07	%	17.57	%
2006	0.20	%	578,604		14.873215		8,605,702	1.07	%	17.46	%
2006	0.25	%	1,608,848		14.823774		23,849,199	1.07	%	17.40	%
2006	0.40	%	898,758		14.676391		13,190,524	1.07	%	17.22	%
2005	0.00	%	2,017,894		12.806945		25,843,057	1.00	%	14.31	%
2005	0.10	%	183,864		12.734604		2,341,435	1.00	%	14.19	%
2005	0.20	%	1,091,788		12.662678		13,824,960	1.00	%	14.08	%
2005	0.25	%	1,169,740		12.626867		14,770,151	1.00	%	14.02	%
2005	0.40	%	810,028		12.520042		10,141,585	1.00	%	13.85	%
High Income Fund/VA - Class 3 (OVHI3)
2009	0.00	%	380,539		2.584961		983,678	0.00	%	26.75	%
2008	0.00	%	237,435		2.039384		484,221	5.39	%	-78.89	%
2007	0.00	%	97,144		9.661022		938,510	0.00	%	-3.39	%	5/1/2007
High Income Fund/VA - Non-Service Shares (OVHI)
2009	0.00	%	111,867		3.642267		407,449	0.00	%	25.32	%
2008	0.00	%	147,777		2.906468		429,509	8.17	%	-78.67	%
2007	0.00	%	197,334		13.627157		2,689,101	7.57	%	-0.10	%
2006	0.00	%	324,172		13.641009		4,422,033	6.62	%	9.42	%
2005	0.00	%	304,496		12.466334		3,795,949	6.30	%	2.31	%
Main Street Fund(R)/VA - Non-Service Shares (OVGI)
2009	0.00	%	1,878,416		11.819203		22,201,380	1.96	%	28.29	%
2009	0.10	%	84,972		10.772223		915,337	1.96	%	28.16	%
2009	0.20	%	184,538		10.200084		1,882,303	1.96	%	28.03	%
2009	0.25	%	164,327		10.153815		1,668,546	1.96	%	27.97	%
2008	0.00	%	2,155,808		9.213175		19,861,836	1.52	%	-38.47	%
2008	0.10	%	96,686		8.405452		812,690	1.52	%	-38.53	%
2008	0.20	%	127,115		7.966974		1,012,722	1.52	%	-38.59	%
2008	0.25	%	197,165		7.934811		1,564,467	1.52	%	-38.62	%
2007	0.00	%	2,359,688		14.973285		35,332,281	1.00	%	4.42	%
2007	0.10	%	92,924		13.674278		1,270,669	1.00	%	4.32	%
2007	0.20	%	333,966		12.973942		4,332,856	1.00	%	4.21	%
2007	0.25	%	225,200		12.928044		2,911,396	1.00	%	4.16	%
2006	0.00	%	2,564,464		14.338943		36,771,703	1.10	%	15.02	%
2006	0.10	%	43,364		13.108136		568,421	1.10	%	14.91	%
2006	0.20	%	184,798		12.449315		2,300,609	1.10	%	14.80	%
2006	0.25	%	370,160		12.411511		4,594,245	1.10	%	14.74	%
2006	0.40	%	3,524		11.856561		41,783	1.10	%	14.57	%
2005	0.00	%	2,675,742		12.465965		33,355,706	1.37	%	5.98	%
2005	0.10	%	65,504		11.407291		747,223	1.37	%	5.87	%
2005	0.20	%	185,032		10.844763		2,006,628	1.37	%	5.76	%
2005	0.25	%	381,782		10.817217		4,129,819	1.37	%	5.71	%
2005	0.40	%	5,684		10.349023		58,824	1.37	%	5.55	%
Main Street Small Cap Fund(R)/VA - Non-Service Shares (OVSC)
2009	0.00	%	247,124		17.642817		4,359,964	0.83	%	37.20	%
2008	0.00	%	239,034		12.859537		3,073,867	0.51	%	-37.83	%
2007	0.00	%	264,706		20.683895		5,475,151	0.29	%	-1.21	%
2006	0.00	%	215,614		20.937110		4,514,334	0.13	%	15.00	%
2005	0.00	%	146,346		18.206560		2,664,457	0.00	%	9.92	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
MidCap Fund/VA - Non-Service Shares (OVAG)
2009	0.00	%	1,391,901	$	11.354891	$	15,804,884	0.00	%	32.61	%
2009	0.10	%	205,460		9.048967		1,859,201	0.00	%	32.47	%
2009	0.20	%	105,065		6.251839		656,849	0.00	%	32.34	%
2009	0.25	%	757,963		6.223493		4,717,177	0.00	%	32.28	%
2008	0.00	%	1,511,513		8.562806		12,942,793	0.00	%	-49.07	%
2008	0.10	%	250,167		6.830721		1,708,821	0.00	%	-49.12	%
2008	0.20	%	135,869		4.723995		641,844	0.00	%	-49.17	%
2008	0.25	%	841,598		4.704920		3,959,651	0.00	%	-49.19	%
2007	0.00	%	1,618,182		16.811588		27,204,209	0.00	%	6.33	%
2007	0.10	%	528,414		13.424400		7,093,641	0.00	%	6.23	%
2007	0.20	%	121,920		9.293377		1,133,049	0.00	%	6.12	%
2007	0.25	%	1,094,732		9.260496		10,137,761	0.00	%	6.07	%
2006	0.00	%	1,834,314		15.810416		29,001,267	0.00	%	2.96	%
2006	0.10	%	445,344		12.637642		5,628,098	0.00	%	2.85	%
2006	0.20	%	106,664		8.757520		934,112	0.00	%	2.75	%
2006	0.25	%	1,386,376		8.730923		12,104,342	0.00	%	2.70	%
2006	0.40	%	986		13.200215		13,015	0.00	%	2.55	%
2005	0.00	%	2,021,976		15.356470		31,050,414	0.00	%	12.33	%
2005	0.10	%	448,332		12.287042		5,508,674	0.00	%	12.21	%
2005	0.20	%	454,650		8.523068		3,875,013	0.00	%	12.10	%
2005	0.25	%	1,772,498		8.501413		15,068,738	0.00	%	12.05	%
2005	0.40	%	5,300		12.872483		68,224	0.00	%	11.88	%
Strategic Bond Fund/VA - Non-Service Shares (OVSB)
2009	0.20	%	152,297		10.081478		1,535,379	0.32	%	18.59	%
2009	0.25	%	21,266		10.071445		214,179	0.32	%	18.53	%
2008	0.20	%	104,885		8.500963		891,624	3.48	%	-14.99	%	1/2/2008
2008	0.25	%	9,576		8.496736		81,365	3.48	%	-15.03	%	1/2/2008
All Asset Portfolio - Administrative Class (PMVAAA)
2009	0.00	%	1,575		13.834339		21,789	6.32	%	21.57	%
2009	0.10	%	25,654		13.756266		352,903	6.32	%	21.45	%
2009	0.25	%	35,843		13.639951		488,897	6.32	%	21.27	%
2008	0.00	%	1,313		11.379397		14,941	4.28	%	-15.84	%
2008	0.10	%	15,498		11.326491		175,538	4.28	%	-15.93	%
2008	0.25	%	35,350		11.247576		397,602	4.28	%	-16.05	%
2008	0.40	%	730		11.169222		8,154	4.28	%	-16.18	%
2007	0.10	%	15,834		13.472183		213,319	8.25	%	8.22	%
2007	0.25	%	133,088		13.398414		1,783,168	8.25	%	8.06	%
2007	0.40	%	2,462		13.325057		32,806	8.25	%	7.89	%
2006	0.25	%	121,412		12.399544		1,505,453	4.03	%	4.40	%
2006	0.40	%	2,542		12.350260		31,394	4.03	%	4.24	%
2005	0.25	%	287,514		11.877133		3,414,842	4.94	%	5.96	%
2005	0.40	%	58,972		11.847635		698,679	4.94	%	5.81	%
Foreign Bond Portfolio (Unhedged) - Administrative Class (PMVFBA)
2009	0.00	%	41,010		11.047544		453,060	1.82	%	4.07	%
2009	0.25	%	16,785		11.001548		184,661	1.82	%	3.81	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Low Duration Portfolio - Administrative Class (PMVLDA)
2009	0.00	%	298,516	$	13.516257	$	4,034,819	3.53	%	13.32	%
2009	0.10	%	109,511		13.417547		1,469,369	3.53	%	13.20	%
2009	0.20	%	1,554,752		13.319459		20,708,456	3.53	%	13.09	%
2009	0.25	%	2,339,252		13.270656		31,043,409	3.53	%	13.03	%
2009	0.40	%	9,468		13.125160		124,269	3.53	%	12.86	%
2008	0.00	%	15,497		11.927738		184,844	4.10	%	-0.45	%
2008	0.10	%	85,251		11.852482		1,010,436	4.10	%	-0.55	%
2008	0.20	%	1,648,644		11.777625		19,417,111	4.10	%	-0.65	%
2008	0.25	%	1,211,549		11.740354		14,224,014	4.10	%	-0.70	%
2008	0.40	%	167,038		11.629122		1,942,505	4.10	%	-0.85	%
2007	0.10	%	115,344		11.918100		1,374,681	4.75	%	7.27	%
2007	0.20	%	1,869,506		11.854696		22,162,425	4.75	%	7.16	%
2007	0.25	%	1,853,686		11.823104		21,916,322	4.75	%	7.10	%
2007	0.40	%	189,584		11.728722		2,223,578	4.75	%	6.94	%
2006	0.10	%	24,296		11.110721		269,946	4.19	%	3.86	%
2006	0.20	%	1,775,448		11.062747		19,641,332	4.19	%	3.75	%
2006	0.25	%	875,682		11.038824		9,666,499	4.19	%	3.70	%
2006	0.40	%	995,170		10.967285		10,914,313	4.19	%	3.55	%
2005	0.20	%	1,845,738		10.662435		19,680,061	2.71	%	0.80	%
2005	0.25	%	747,294		10.644694		7,954,716	2.71	%	0.75	%
2005	0.40	%	1,106,776		10.591594		11,722,522	2.71	%	0.60	%
Real Return Portfolio - Administrative Class (PMVRRA)
2009	0.00	%	17,619		15.392452		271,200	3.17	%	18.35	%
2009	0.10	%	171,544		15.279874		2,621,171	3.17	%	18.23	%
2009	0.20	%	1,055,715		15.168007		16,013,093	3.17	%	18.11	%
2009	0.25	%	3,725,567		15.112339		56,302,031	3.17	%	18.05	%
2009	0.40	%	15,809		14.946401		236,288	3.17	%	17.87	%
2008	0.00	%	1,297		13.006263		16,869	3.55	%	-7.02	%
2008	0.10	%	150,898		12.924061		1,950,215	3.55	%	-7.12	%
2008	0.20	%	817,317		12.842295		10,496,226	3.55	%	-7.21	%
2008	0.25	%	2,758,640		12.801575		35,314,937	3.55	%	-7.26	%
2008	0.40	%	953,934		12.680079		12,095,958	3.55	%	-7.40	%
2007	0.10	%	93,920		13.914414		1,306,842	4.64	%	10.53	%
2007	0.20	%	777,912		13.840237		10,766,486	4.64	%	10.42	%
2007	0.25	%	1,535,174		13.803269		21,190,420	4.64	%	10.37	%
2007	0.40	%	1,489,604		13.692856		20,396,933	4.64	%	10.20	%
2006	0.10	%	50,474		12.588282		635,381	4.26	%	0.64	%
2006	0.20	%	672,656		12.533792		8,430,930	4.26	%	0.54	%
2006	0.25	%	1,287,852		12.506613		16,106,667	4.26	%	0.49	%
2006	0.40	%	1,442,470		12.425357		17,923,205	4.26	%	0.34	%
2005	0.10	%	80,408		12.508033		1,005,746	2.85	%	1.97	%
2005	0.20	%	628,146		12.466336		7,830,679	2.85	%	1.87	%
2005	0.25	%	1,206,896		12.445521		15,020,450	2.85	%	1.82	%
2005	0.40	%	640,224		12.383232		7,928,042	2.85	%	1.67	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Total Return Portfolio - Administrative Class (PMVTRA)
2009	0.00	%	176,178	$	15.739138	$	2,772,890	5.33	%	14.03	%
2009	0.10	%	1,021,669		15.624030		15,962,587	5.33	%	13.91	%
2009	0.20	%	4,005,633		15.509642		62,125,934	5.33	%	13.80	%
2009	0.25	%	9,496,915		15.452727		146,753,235	5.33	%	13.74	%
2009	0.40	%	22,586		15.283042		345,183	5.33	%	13.57	%
2008	0.00	%	72,078		13.802824		994,880	4.47	%	4.75	%
2008	0.10	%	1,250,843		13.715592		17,156,052	4.47	%	4.64	%
2008	0.20	%	2,728,440		13.628820		37,185,418	4.47	%	4.54	%
2008	0.25	%	7,835,547		13.585613		106,450,709	4.47	%	4.49	%
2008	0.40	%	621,710		13.456667		8,366,144	4.47	%	4.33	%
2007	0.10	%	832,700		13.106902		10,914,117	4.81	%	8.63	%
2007	0.20	%	3,931,096		13.037033		51,249,828	4.81	%	8.52	%
2007	0.25	%	5,454,364		13.002214		70,918,808	4.81	%	8.47	%
2007	0.40	%	1,905,050		12.898203		24,571,722	4.81	%	8.31	%
2006	0.10	%	8,770		12.065231		105,812	4.42	%	3.74	%
2006	0.20	%	3,889,630		12.013005		46,726,145	4.42	%	3.64	%
2006	0.25	%	3,326,500		11.986960		39,874,622	4.42	%	3.59	%
2006	0.40	%	3,150,134		11.909077		37,515,188	4.42	%	3.43	%
2005	0.10	%	30,398		11.629906		353,526	3.47	%	2.32	%
2005	0.20	%	3,110,384		11.591132		36,052,872	3.47	%	2.22	%
2005	0.25	%	2,083,246		11.571785		24,106,875	3.47	%	2.17	%
2005	0.40	%	2,531,932		11.513866		29,152,326	3.47	%	2.02	%
Variable Contracts Trust - Emerging Markets VCT Portfolio - Class I Shares (PIVEMI)
2009	0.00	%	38,365		7.640745		293,137	1.20	%	74.64	%
2009	0.25	%	134,639		7.597606		1,022,934	1.20	%	74.21	%
2008	0.00	%	1,435		4.375030		6,278	0.36	%	-58.20	%
2008	0.25	%	32,111		4.361213		140,043	0.36	%	-58.31	%
Variable Contracts Trust - High Yield VCT Portfolio - Class I Shares (PIHYB1)
2009	0.00	%	6,000		18.069028		108,414	8.34	%	60.49	%
2009	0.10	%	56,238		17.937073		1,008,745	8.34	%	60.33	%
2009	0.20	%	517,292		17.805947		9,210,874	8.34	%	60.17	%
2009	0.25	%	458,604		17.740695		8,135,954	8.34	%	60.09	%
2008	0.00	%	433		11.258511		4,875	8.46	%	-35.43	%
2008	0.10	%	110,077		11.187479		1,231,484	8.46	%	-35.49	%
2008	0.20	%	694,575		11.116824		7,721,468	8.46	%	-35.55	%
2008	0.25	%	254,649		11.081635		2,821,927	8.46	%	-35.59	%
2008	0.40	%	52,370		10.976641		574,847	8.46	%	-35.68	%
2007	0.10	%	100,470		17.342224		1,742,373	5.36	%	5.81	%
2007	0.20	%	507,564		17.249965		8,755,461	5.36	%	5.71	%
2007	0.25	%	195,182		17.203983		3,357,908	5.36	%	5.65	%
2007	0.40	%	179,670		17.066645		3,066,364	5.36	%	5.50	%
2006	0.10	%	10,514		16.389248		172,317	5.53	%	8.39	%
2006	0.20	%	467,554		16.318486		7,629,773	5.53	%	8.29	%
2006	0.25	%	82,444		16.283186		1,342,451	5.53	%	8.23	%
2006	0.40	%	280,054		16.177661		4,530,619	5.53	%	8.07	%
2005	0.10	%	11,722		15.120107		177,238	5.49	%	1.84	%
2005	0.20	%	438,236		15.069867		6,604,158	5.49	%	1.74	%
2005	0.25	%	36,528		15.044787		549,556	5.49	%	1.69	%
2005	0.40	%	252,932		14.969736		3,786,325	5.49	%	1.54	%
Putnam VT Growth and Income Fund - IB Shares (PVGIB)
2009	0.00	%	59,317		12.591298		746,878	2.76	%	29.81	%
2008	0.00	%	63,826		9.699626		619,088	2.04	%	-38.70	%
2007	0.00	%	65,188		15.822165		1,031,415	1.43	%	-6.04	%
2006	0.00	%	79,204		16.838971		1,333,714	1.47	%	15.91	%
2005	0.00	%	79,162		14.527575		1,150,032	1.49	%	5.23	%
Putnam VT International Equity Fund - IB Shares (PVTIGB)
2009	0.00%		77,883		16.132414		1,256,441	0.00%		24.63%
2008	0.00%		98,334		12.943794		1,272,815	2.18%		-43.95%
2007	0.00%		132,680		23.093467		3,064,041	2.23%		8.37%
2006	0.00%		227,790		21.310423		4,854,301	0.36%		27.72%
2005	0.00%		138,276		16.685441		2,307,196	1.32%		12.20%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Putnam VT Small Cap Value Fund - IB Shares (PVTSCB)
2009	0.25	%	532	$	7.071223	$	3,762	1.78	%	31.20	%
2008	0.25	%	65		5.389467		350	0.00	%	-39.51	%
Putnam VT Vista Fund - IB Shares (PVVIB)
2009	0.20	%	5,870		13.767109		80,813	0.00	%	37.67	%	2/6/2009
2009	0.25	%	797		14.151257		11,279	0.00	%	41.51	%	2/13/2009
Putnam VT Voyager Fund - IB Shares (PVTVB)
2009	0.00	%	89,306		15.109296		1,349,351	0.69	%	63.90	%
2008	0.00	%	54,796		9.218880		505,158	0.00	%	-37.03	%
2007	0.00	%	29,740		14.640393		435,405	0.00	%	5.52	%
2006	0.00	%	28,784		13.874456		399,362	0.11	%	5.44	%
2005	0.00	%	27,308		13.159164		359,350	0.59	%	5.69	%
Global Real Estate Portfolio - Class II (VKVGR2)
2009	0.00	%	10,415		6.931156		72,188	0.02	%	41.42	%
2009	0.25	%	98,075		6.892024		675,935	0.02	%	41.06	%
2008	0.00	%	9,686		4.901259		47,474	4.11	%	-44.34	%
2008	0.25	%	85,328		4.885787		416,894	4.11	%	-44.48	%
2008	0.40	%	4,297		4.876534		20,954	4.11	%	-44.57	%
Micro-Cap Portfolio - Investment Class (ROCMC)
2009	0.00	%	16,000		21.643845		346,302	0.00	%	58.04	%
2009	0.10	%	126,584		21.485855		2,719,765	0.00	%	57.89	%
2009	0.20	%	478,012		21.329008		10,195,522	0.00	%	57.73	%
2009	0.25	%	1,217,957		21.251012		25,882,819	0.00	%	57.65	%
2009	0.40	%	9,307		21.018795		195,622	0.00	%	57.41	%
2008	0.00	%	3,305		13.694894		45,262	2.44	%	-43.27	%
2008	0.10	%	126,086		13.608530		1,715,845	2.44	%	-43.33	%
2008	0.20	%	526,233		13.522698		7,116,090	2.44	%	-43.38	%
2008	0.25	%	1,056,241		13.479984		14,238,112	2.44	%	-43.41	%
2008	0.40	%	243,108		13.352691		3,246,146	2.44	%	-43.50	%
2007	0.10	%	192,752		24.012175		4,628,395	1.50	%	3.87	%
2007	0.20	%	516,162		23.884685		12,328,367	1.50	%	3.77	%
2007	0.25	%	1,213,818		23.821182		28,914,579	1.50	%	3.72	%
2007	0.40	%	383,860		23.631757		9,071,286	1.50	%	3.56	%
2006	0.10	%	102,390		23.116715		2,366,920	0.17	%	20.95	%
2006	0.20	%	487,556		23.017122		11,222,136	0.17	%	20.83	%
2006	0.25	%	779,248		22.967474		17,897,358	0.17	%	20.77	%
2006	0.40	%	767,354		22.819241		17,510,436	0.17	%	20.59	%
2005	0.10	%	11,746		19.112697		224,498	0.60	%	11.50	%
2005	0.20	%	516,002		19.049333		9,829,494	0.60	%	11.39	%
2005	0.25	%	690,136		19.017724		13,124,816	0.60	%	11.33	%
2005	0.40	%	830,676		18.923254		15,719,093	0.60	%	11.17	%
Small-Cap Portfolio - Investment Class (ROCSC)
2009	0.20	%	24,523		9.885736		242,428	0.00	%	34.93	%
2009	0.25	%	3,424		9.875865		33,815	0.00	%	34.86	%
2008	0.20	%	11,031		7.326443		80,818	0.43	%	-26.74	%	1/2/2008
2008	0.25	%	1,007		7.322794		7,374	0.43	%	-26.77	%	1/2/2008

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Blue Chip Growth Portfolio - II (TRBCG2)
2009	0.00	%	247,600	$	11.315697	$	2,801,767	0.00	%	41.79	%
2009	0.20	%	32,437		11.210550		363,637	0.00	%	41.51	%
2009	0.25	%	4,535		11.184427		50,721	0.00	%	41.44	%
2008	0.00	%	273,286		7.980543		2,180,971	0.11	%	-42.65	%
2008	0.20	%	23,532		7.922205		186,425	0.11	%	-42.76	%
2008	0.25	%	2,151		7.907699		17,009	0.11	%	-42.79	%
2007	0.00	%	212,892		13.915435		2,962,485	0.11	%	12.49	%
2006	0.00	%	117,044		12.370493		1,447,892	0.34	%	9.33	%
2005	0.00	%	33,050		11.314946		373,959	0.16	%	13.15	%	5/2/2005
Equity Income Portfolio - II (TREI2)
2009	0.00	%	348,107		14.706264		5,119,353	1.81	%	25.25	%
2009	0.10	%	153,172		14.598914		2,236,145	1.81	%	25.13	%
2009	0.20	%	1,596,462		14.492354		23,136,492	1.81	%	25.00	%
2009	0.25	%	2,808,807		14.439362		40,557,381	1.81	%	24.94	%
2009	0.40	%	15,065		14.281536		215,151	1.81	%	24.75	%
2008	0.00	%	345,566		11.741384		4,057,423	2.12	%	-36.26	%
2008	0.10	%	166,121		11.667331		1,938,189	2.12	%	-36.33	%
2008	0.20	%	1,762,229		11.593772		20,430,881	2.12	%	-36.39	%
2008	0.25	%	2,240,330		11.557153		25,891,837	2.12	%	-36.42	%
2008	0.40	%	562,661		11.447985		6,441,335	2.12	%	-36.52	%
2007	0.00	%	342,686		18.422059		6,312,982	1.51	%	3.03	%
2007	0.10	%	160,922		18.324230		2,948,772	1.51	%	2.93	%
2007	0.20	%	1,884,266		18.226974		34,344,467	1.51	%	2.82	%
2007	0.25	%	2,229,008		18.178518		40,520,062	1.51	%	2.77	%
2007	0.40	%	834,360		18.033915		15,046,777	1.51	%	2.62	%
2006	0.00	%	232,318		17.880327		4,153,922	1.35	%	18.65	%
2006	0.10	%	17,014		17.803262		302,905	1.35	%	18.53	%
2006	0.20	%	1,955,804		17.726578		34,669,712	1.35	%	18.41	%
2006	0.25	%	1,540,034		17.688346		27,240,654	1.35	%	18.35	%
2006	0.40	%	1,391,756		17.574134		24,458,906	1.35	%	18.18	%
2005	0.00	%	69,938		15.070153		1,053,976	1.39	%	3.69	%
2005	0.10	%	22,826		15.020167		342,850	1.39	%	3.59	%
2005	0.20	%	1,993,558		14.970390		29,844,341	1.39	%	3.49	%
2005	0.25	%	892,058		14.945544		13,332,292	1.39	%	3.44	%
2005	0.40	%	1,649,340		14.871262		24,527,767	1.39	%	3.28	%
Health Sciences Portfolio - II (TRHS2)
2009	0.20	%	147,391		9.320531		1,373,762	0.00	%	31.09	%
2009	0.25	%	20,581		9.311233		191,634	0.00	%	31.03	%
2008	0.20	%	163,681		7.109924		1,163,759	0.00	%	-28.90	%	1/2/2008
2008	0.25	%	14,944		7.106377		106,198	0.00	%	-28.94	%	1/2/2008
Limited-Term Bond Portfolio - II (TRLT2)
2008	0.00	%	177,875		11.230967		1,997,708	3.75	%	1.31	%
2007	0.00	%	97,460		11.086232		1,080,464	4.06	%	5.23	%
2006	0.00	%	51,598		10.535464		543,609	3.73	%	4.03	%
2005	0.00	%	19,896		10.127763		201,502	2.09	%	1.28	%	5/2/2005

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Mid-Cap Growth Portfolio - II (TRMCG2)
2009	0.10	%	83,827	$	20.683485	$	1,733,834	0.00	%	45.22	%
2009	0.20	%	266,361		20.532481		5,469,052	0.00	%	45.07	%
2009	0.25	%	665,706		20.457409		13,618,620	0.00	%	45.00	%
2008	0.10	%	97,962		14.242855		1,395,259	0.00	%	-40.00	%
2008	0.20	%	302,266		14.153026		4,277,979	0.00	%	-40.06	%
2008	0.25	%	681,051		14.108326		9,608,490	0.00	%	-40.09	%
2007	0.10	%	118,598		23.736199		2,815,066	0.00	%	17.11	%
2007	0.20	%	283,588		23.610164		6,695,559	0.00	%	16.99	%
2007	0.25	%	726,466		23.547392		17,106,380	0.00	%	16.93	%
2007	0.40	%	34,870		23.360091		814,566	0.00	%	16.75	%
2006	0.10	%	23,520		20.268825		476,723	0.00	%	6.28	%
2006	0.20	%	288,630		20.181467		5,824,977	0.00	%	6.17	%
2006	0.25	%	560,134		20.137940		11,279,945	0.00	%	6.12	%
2006	0.40	%	256,586		20.007898		5,133,747	0.00	%	5.96	%
2005	0.10	%	44,810		19.071958		854,614	0.00	%	14.32	%
2005	0.20	%	626,894		19.008705		11,916,443	0.00	%	14.21	%
2005	0.25	%	356,418		18.977178		6,763,808	0.00	%	14.15	%
2005	0.40	%	453,782		18.882872		8,568,707	0.00	%	13.98	%
New America Growth Portfolio (TRNAG1)
2009	0.00	%	19,557		12.771923		249,780	0.00	%	49.76	%
2009	0.10	%	67,015		12.699803		851,077	0.00	%	49.62	%
2009	0.20	%	107,004		12.628086		1,351,256	0.00	%	49.47	%
2009	0.25	%	875,288		12.592384		11,021,963	0.00	%	49.39	%
2009	0.40	%	2,068		12.485874		25,821	0.00	%	49.17	%
2008	0.10	%	52,850		8.488305		448,607	0.00	%	-38.30	%
2008	0.20	%	83,615		8.448808		706,447	0.00	%	-38.37	%
2008	0.25	%	307,465		8.429140		2,591,666	0.00	%	-38.40	%
2008	0.40	%	481,319		8.370383		4,028,824	0.00	%	-38.49	%
2007	0.10	%	25,334		13.758234		348,551	0.00	%	13.67	%
2007	0.20	%	299,098		13.707959		4,100,023	0.00	%	13.55	%
2007	0.25	%	194,180		13.682900		2,656,946	0.00	%	13.49	%
2007	0.40	%	536,034		13.607980		7,294,340	0.00	%	13.32	%
2006	0.20	%	301,726		12.072027		3,642,444	0.04	%	7.12	%
2006	0.25	%	86,392		12.056017		1,041,543	0.04	%	7.06	%
2006	0.40	%	551,676		12.008095		6,624,578	0.04	%	6.90	%
2005	0.20	%	690,950		11.269904		7,786,940	0.00	%	4.26	%
2005	0.25	%	2,404		11.260565		27,070	0.00	%	4.21	%
2005	0.40	%	584,706		11.232593		6,567,765	0.00	%	4.06	%
Personal Strategy Balanced Portfolio (TRPSB1)
2009	0.00	%	2,569		10.094281		25,932	2.19	%	32.12	%
2009	0.25	%	42,706		10.016034		427,745	2.19	%	31.79	%
2008	0.00	%	7,764		7.640233		59,319	2.80	%	-29.88	%
2008	0.25	%	47,397		7.599968		360,216	2.80	%	-30.06	%
2008	0.40	%	143		7.575907		1,083	2.80	%	-30.16	%
2007	0.25	%	5,720		10.865761		62,152	1.34	%	7.34	%
2007	0.40	%	340		10.847653		3,688	1.34	%	7.18	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Worldwide Insurance Trust - Worldwide Emerging Markets Fund - Initial Class (VWEM)
2009	0.00	%	363,631	$	27.002169	$	9,818,826	0.16	%	113.17	%
2009	0.10	%	130,675		36.550513		4,776,238	0.16	%	112.96	%
2009	0.20	%	78,529		33.719407		2,647,951	0.16	%	112.75	%
2009	0.25	%	52,024		33.566508		1,746,264	0.16	%	112.64	%
2008	0.00	%	379,342		12.666688		4,805,007	0.00	%	-64.78	%
2008	0.10	%	96,284		17.162939		1,652,516	0.00	%	-64.81	%
2008	0.20	%	70,043		15.849346		1,110,136	0.00	%	-64.85	%
2008	0.25	%	73,280		15.785351		1,156,751	0.00	%	-64.87	%
2007	0.00	%	517,190		35.963363		18,599,892	0.40	%	37.61	%
2007	0.10	%	94,388		48.778177		4,604,075	0.40	%	37.48	%
2007	0.20	%	66,494		45.090153		2,998,225	0.40	%	37.34	%
2007	0.25	%	105,400		44.930650		4,735,691	0.40	%	37.27	%
2006	0.00	%	565,466		26.133423		14,777,562	0.56	%	39.49	%
2006	0.10	%	43,526		35.481161		1,544,353	0.56	%	39.35	%
2006	0.20	%	46,954		32.831467		1,541,569	0.56	%	39.21	%
2006	0.25	%	66,446		32.731758		2,174,894	0.56	%	39.14	%
2005	0.00	%	573,050		18.734825		10,735,991	0.71	%	32.00	%
2005	0.10	%	38,212		25.461491		972,934	0.71	%	31.86	%
2005	0.20	%	45,066		23.583541		1,062,816	0.71	%	31.73	%
2005	0.25	%	41,596		23.523647		978,490	0.71	%	31.67	%
2005	0.40	%	596		17.488050		10,423	0.71	%	31.47	%
Worldwide Insurance Trust - Worldwide Hard Assets Fund - Initial Class (VWHA)
2009	0.00	%	317,923		33.926069		10,785,878	0.25	%	57.54	%
2009	0.10	%	104,417		47.150241		4,923,287	0.25	%	57.38	%
2009	0.20	%	189,232		40.086483		7,585,645	0.25	%	57.22	%
2009	0.25	%	175,560		39.904798		7,005,686	0.25	%	57.14	%
2009	0.40	%	2,185		32.178659		70,310	0.25	%	56.91	%
2008	0.00	%	387,879		21.535500		8,353,168	0.27	%	-46.12	%
2008	0.10	%	84,350		29.959857		2,527,114	0.27	%	-46.18	%
2008	0.20	%	129,114		25.496953		3,292,014	0.27	%	-46.23	%
2008	0.25	%	133,086		25.394095		3,379,599	0.27	%	-46.26	%
2008	0.40	%	6,726		20.508184		137,938	0.27	%	-46.34	%
2007	0.00	%	416,768		39.972562		16,659,285	0.11	%	45.36	%
2007	0.10	%	99,614		55.665036		5,545,017	0.11	%	45.21	%
2007	0.20	%	81,432		47.420563		3,861,551	0.11	%	45.06	%
2007	0.25	%	170,146		47.252962		8,039,902	0.11	%	44.99	%
2007	0.40	%	6,820		38.218809		260,652	0.11	%	44.77	%
2006	0.00	%	487,264		27.499610		13,399,570	0.06	%	24.49	%
2006	0.10	%	20,452		38.333948		784,006	0.06	%	24.37	%
2006	0.20	%	59,788		32.689202		1,954,422	0.06	%	24.24	%
2006	0.25	%	153,486		32.590053		5,002,117	0.06	%	24.18	%
2005	0.00	%	509,766		22.089482		11,260,467	0.31	%	51.67	%
2005	0.10	%	26,250		30.823042		809,105	0.31	%	51.52	%
2005	0.20	%	52,740		26.310503		1,387,616	0.31	%	51.37	%
2005	0.25	%	129,856		26.243783		3,407,913	0.31	%	51.29	%
2005	0.40	%	52		21.290146		1,107	0.31	%	51.07	%
Vanguard(R) Variable Insurance Funds - Balanced Portfolio (VVB)
2009	0.20	%	127,334		9.519394		1,212,143	4.83	%	22.66	%
2009	0.25	%	17,780		9.509907		169,086	4.83	%	22.60	%
2008	0.20	%	109,081		7.761012		846,579	0.00	%	-22.39	%	1/2/2008
2008	0.25	%	9,959		7.757156		77,254	0.00	%	-22.43	%	1/2/2008
Vanguard(R) Variable Insurance Funds - Diversified Value Portfolio (VVDV)
2009	0.20	%	175,071		8.193060		1,434,367	3.85	%	26.67	%
2009	0.25	%	24,446		8.184883		200,088	3.85	%	26.61	%
2008	0.20	%	143,388		6.467982		927,431	0.00	%	-35.32	%	1/2/2008
2008	0.25	%	13,091		6.464759		84,630	0.00	%	-35.35	%	1/2/2008

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Vanguard(R) Variable Insurance Funds - International Portfolio (VVI)
2009	0.20	%	410,028	$	7.883310	$	3,232,378	3.47	%	42.50	%
2009	0.25	%	57,254		7.875437		450,900	3.47	%	42.43	%
2008	0.20	%	356,354		5.532166		1,971,409	0.00	%	-44.68	%	1/2/2008
2008	0.25	%	32,536		5.529407		179,905	0.00	%	-44.71	%	1/2/2008
Vanguard(R) Variable Insurance Funds - Mid-Cap Index Portfolio (VVMCI)
2009	0.20	%	342,621		8.254974		2,828,327	1.64	%	40.09	%
2009	0.25	%	47,841		8.246745		394,533	1.64	%	40.02	%
2008	0.20	%	301,906		5.892524		1,778,988	0.00	%	-41.07	%	1/2/2008
2008	0.25	%	27,909		5.889589		164,373	0.00	%	-41.10	%	1/2/2008
Vanguard(R) Variable Insurance Funds - Short-Term Investment-Grade Portfolio (VVSTC)
2009	0.20	%	278,059		10.898210		3,030,345	3.71	%	13.63	%
2009	0.25	%	38,826		10.887347		422,712	3.71	%	13.57	%
2008	0.20	%	223,003		9.590829		2,138,784	0.00	%	-4.09	%	1/2/2008
2008	0.25	%	20,361		9.586056		195,182	0.00	%	-4.14	%	1/2/2008
Ivy Fund Variable Insurance Portfolios, Inc. - Asset Strategy (WRASP)
2009	0.00	%	287,483		10.509760		3,021,377	0.13	%	25.05	%
2009	0.25	%	146,447		10.450534		1,530,449	0.13	%	24.73	%
2008	0.00	%	9,046		8.404777		76,030	1.01	%	-25.79	%
2008	0.25	%	36,675		8.378314		307,275	1.01	%	-25.98	%
2008	0.40	%	795		8.362478		6,648	1.01	%	-26.09	%
Ivy Fund Variable Insurance Portfolios, Inc. - Growth (WRGP)
2009	0.00	%	9,754		12.557495		122,486	0.37	%	27.07	%
2009	0.10	%	37,585		12.499017		469,776	0.37	%	26.95	%
2009	0.25	%	28,728		12.411842		356,567	0.37	%	26.76	%
2008	0.10	%	21,448		9.845881		211,174	0.00	%	-36.34	%
2008	0.25	%	42,971		9.791882		420,767	0.00	%	-36.43	%
2008	0.40	%	229		9.738174		2,230	0.00	%	-36.53	%
2007	0.10	%	12,832		15.110144		193,893	0.00	%	22.80	%
2007	0.25	%	2,806		15.049872		43,230	0.00	%	22.61	%
2007	0.40	%	24		14.989837		360	0.00	%	22.43	%
2006	0.40	%	1,882		12.243877		23,043	0.00	%	4.62	%
Ivy Fund Variable Insurance Portfolios, Inc. - Real Estate Securities (WRRESP)
2009	0.00	%	10,737		9.935185		106,674	2.78	%	23.62	%
2009	0.10	%	29,857		9.888874		295,252	2.78	%	23.50	%
2009	0.25	%	48,451		9.819846		475,781	2.78	%	23.31	%
2008	0.00	%	193		8.036688		1,551	0.94	%	-36.03	%
2008	0.10	%	25,624		8.007242		205,178	0.94	%	-36.10	%
2008	0.25	%	5,538		7.963301		44,101	0.94	%	-36.20	%
2008	0.40	%	574		7.919581		4,546	0.94	%	-36.29	%
2007	0.10	%	5,798		12.530753		72,653	1.28	%	-16.15	%
2007	0.25	%	3,926		12.480780		49,000	1.28	%	-16.28	%
2007	0.40	%	2,396		12.430983		29,785	1.28	%	-16.40	%
2006	0.25	%	594		14.907103		8,855	1.58	%	29.76	%
2006	0.40	%	2,546		14.870055		37,859	1.58	%	29.57	%
Ivy Fund Variable Insurance Portfolios, Inc. - Science and Technology (WRSTP)
2009	0.00	%	4,290		9.694632		41,590	0.00	%	43.84	%
2009	0.25	%	103,724		9.639961		999,895	0.00	%	43.48	%
2008	0.00	%	3,163		6.739848		21,318	0.00	%	-33.89	%
2008	0.25	%	95,158		6.718607		639,329	0.00	%	-34.05	%
2008	0.40	%	609		6.705890		4,084	0.00	%	-34.15	%
2007	0.25	%	448		10.188127		4,564	0.00	%	1.88	%	9/27/2007

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
Advantage Funds Variable Trust - VT Discovery Fund (SVDF)
2009	0.00	%	169,734	$	7.681010	$	1,303,729	0.00	%	40.30	%
2009	0.10	%	30,327		7.663653		232,416	0.00	%	40.16	%
2009	0.25	%	43,498		7.637661		332,223	0.00	%	39.95	%
2008	0.00	%	97,543		5.474555		534,005	0.00	%	-44.36	%
2008	0.10	%	35,560		5.467646		194,429	0.00	%	-44.41	%
2008	0.25	%	42,095		5.457284		229,724	0.00	%	-44.50	%
2008	0.40	%	162		5.446950		882	0.00	%	-44.58	%
Advantage Funds Variable Trust - VT Opportunity Fund (SVOF)
2009	0.00	%	4		12.880035		52	0.00	%	47.74	%
2009	0.10	%	180,073		12.756058		2,297,022	0.00	%	47.59	%
2009	0.20	%	162,688		12.633308		2,055,288	0.00	%	47.44	%
2009	0.25	%	315,434		12.572347		3,965,746	0.00	%	47.37	%
2008	0.00	%	966,983		8.718261		8,430,410	1.86	%	-40.10	%
2008	0.10	%	184,457		8.642979		1,594,258	1.86	%	-40.16	%
2008	0.20	%	117,180		8.568374		1,004,042	1.86	%	-40.22	%
2008	0.25	%	331,868		8.531293		2,831,263	1.86	%	-40.25	%
2007	0.00	%	1,129,684		14.553953		16,441,368	0.61	%	6.63	%
2007	0.10	%	224,604		14.442760		3,243,902	0.61	%	6.53	%
2007	0.20	%	154,478		14.332457		2,214,049	0.61	%	6.42	%
2007	0.25	%	358,194		14.277593		5,114,148	0.61	%	6.37	%
2006	0.00	%	1,303,766		13.648563		17,794,532	0.00	%	12.22	%
2006	0.10	%	143,310		13.557898		1,942,982	0.00	%	12.11	%
2006	0.20	%	199,708		13.467901		2,689,648	0.00	%	12.00	%
2006	0.25	%	454,354		13.423088		6,098,834	0.00	%	11.94	%
2006	0.40	%	126		13.289662		1,674	0.00	%	11.77	%
2005	0.00	%	1,428,994		12.162469		17,380,095	0.00	%	7.88	%
2005	0.10	%	114,460		12.093732		1,384,249	0.00	%	7.78	%
2005	0.20	%	360,812		12.025433		4,338,921	0.00	%	7.67	%
2005	0.25	%	470,806		11.991404		5,645,625	0.00	%	7.62	%
2005	0.40	%	110,270		11.889981		1,311,108	0.00	%	7.45	%
Advantage Funds Variable Trust - VT Small Cap Growth Fund (WFVSCG)
2009	0.00	%	135,128		8.604153		1,162,662	0.00	%	52.64	%
2009	0.25	%	298,197		8.555599		2,551,254	0.00	%	52.26	%
2008	0.00	%	3,856		5.636741		21,735	0.00	%	-41.42	%
2008	0.25	%	125,618		5.618956		705,842	0.00	%	-41.57	%
2008	0.40	%	1,113		5.608316		6,242	0.00	%	-41.66	%
Insurance Trust - Insurance Trust Diversified Mid Cap Value Portfolio 1 (obsolete) (OGMVP)
2008	0.10	%	4,372		12.612983		55,144	1.51	%	-35.55	%
2008	0.20	%	6,347		12.533943		79,553	1.51	%	-35.61	%
2007	0.10	%	4,412		19.569601		86,341	1.87	%	0.82	%
2007	0.20	%	6,420		19.466479		124,975	1.87	%	0.71	%
2006	0.10	%	5,886		19.411280		114,255	1.18	%	16.60	%
2006	0.20	%	6,476		19.328434		125,171	1.18	%	16.49	%
2006	0.25	%	730		19.287150		14,080	1.18	%	16.43	%
2006	0.40	%	2,838		19.163821		54,387	1.18	%	16.26	%
2005	0.10	%	5,916		16.647145		98,485	0.60	%	9.64	%
2005	0.20	%	22,284		16.592629		369,750	0.60	%	9.54	%
2005	0.25	%	10,644		16.565444		176,323	0.60	%	9.48	%
2005	0.40	%	14,156		16.484146		233,350	0.60	%	9.32	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***		Inception Date****
International Equity Flex I Portfolio (obsolete) (WIEP)
2009	0.00	%	93	$	13.330928	$	1,240	0.60	%	22.20	%
2008	0.00	%	96,326		10.909328		1,050,852	1.75	%	-41.03	%
2008	0.25	%	9,109		9.166659		83,499	1.75	%	-41.18	%
2007	0.00	%	116,860		18.501094		2,162,038	1.09	%	16.60	%
2007	0.25	%	10,580		15.584704		164,886	1.09	%	16.30	%
2006	0.00	%	121,824		15.867715		1,933,069	1.01	%	18.65	%
2006	0.25	%	7,190		13.400060		96,346	1.01	%	18.36	%
2005	0.00	%	132,046		13.373190		1,765,876	0.88	%	17.44	%
2005	0.25	%	7,410		11.321642		83,893	0.88	%	17.15	%
International Equity Flex II Portfolio (obsolete) (WVCP)
2009	0.00	%	20		10.138334		203	2.62	%	30.47	%
2008	0.00	%	33,935		7.770427		263,689	1.69	%	-46.75	%
2008	0.25	%	5,184		5.551756		28,780	1.69	%	-46.89	%
2007	0.00	%	38,516		14.592824		562,057	0.00	%	-3.96	%
2007	0.25	%	6,308		10.452361		65,933	0.00	%	-4.20	%
2006	0.00	%	46,476		15.193949		706,154	0.00	%	13.20	%
2006	0.25	%	9,586		10.910325		104,586	0.00	%	12.92	%
2005	0.00	%	48,980		13.421675		657,394	0.00	%	16.14	%
2005	0.25	%	15,838		9.661761		153,023	0.00	%	15.85	%
International Index Portfolio - Class II (obsolete) (MLVIX2)
2006	0.25	%	82,570		14.583459		1,204,156	5.83	%	25.37	%
2006	0.40	%	17,946		14.547195		261,064	5.83	%	25.18	%
2005	0.25	%	732		11.632654		8,515	1.76	%	16.33	%	5/2/2005
2005	0.40	%	220		11.621096		2,557	1.76	%	16.21	%	5/2/2005
J.P. Morgan NVIT Balanced Fund - Class I (obsolete) (BF)
2008	0.00	%	757,878		10.568294		8,009,478	2.70	%	-25.55	%
2008	0.10	%	48,246		9.589808		462,670	2.70	%	-25.62	%
2008	0.20	%	104,098		9.695696		1,009,303	2.70	%	-25.70	%
2008	0.25	%	108,297		9.656587		1,045,779	2.70	%	-25.73	%
2007	0.00	%	856,726		14.194595		12,160,879	2.16	%	4.63	%
2007	0.10	%	83,510		12.893261		1,076,716	2.16	%	4.52	%
2007	0.20	%	140,532		13.048688		1,833,758	2.16	%	4.41	%
2007	0.25	%	182,240		13.002564		2,369,587	2.16	%	4.36	%
2006	0.00	%	919,452		13.567085		12,474,283	2.25	%	12.25	%
2006	0.10	%	64,592		12.335682		796,786	2.25	%	12.14	%
2006	0.20	%	73,958		12.496956		924,250	2.25	%	12.02	%
2006	0.25	%	257,054		12.459031		3,202,644	2.25	%	11.97	%
2006	0.40	%	608		12.170646		7,400	2.25	%	11.80	%
2005	0.00	%	1,170,652		12.086643		14,149,253	1.98	%	2.54	%
2005	0.10	%	81,682		11.000579		898,549	1.98	%	2.44	%
2005	0.20	%	119,512		11.155509		1,333,217	1.98	%	2.34	%
2005	0.25	%	234,374		11.127198		2,607,926	1.98	%	2.29	%
2005	0.40	%	39,454		10.885904		429,492	1.98	%	2.13	%

(Continued)

NATIONWIDE VLI SEPARATE ACCOUNT-4 NOTES TO FINANCIAL STATEMENTS

	Contract Expense Rate*		Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**		Total Return***			Inception Date****
NVIT Mid Cap Growth Fund - Class I (obsolete) (SGRF)
2008	0.00	%	749,875	$	9.006596	$	6,753,821	0.00	%		-46.11	%
2008	0.10	%	137,374		6.935563		952,766	0.00	%		-46.17	%
2008	0.25	%	42,806		5.588576		239,225	0.00	%		-46.25	%
2007	0.00	%	898,950		16.713321		15,024,440	0.00	%		9.01	%
2007	0.10	%	104,616		12.883089		1,347,777	0.00	%		8.91	%
2007	0.25	%	111,508		10.396626		1,159,307	0.00	%		8.74	%
2006	0.00	%	961,292		15.331247		14,737,805	0.00	%		9.91	%
2006	0.10	%	101,742		11.829636		1,203,571	0.00	%		9.80	%
2006	0.25	%	154,712		9.560904		1,479,187	0.00	%		9.63	%
2006	0.40	%	94		13.633719		1,282	0.00	%		9.47	%
2005	0.00	%	989,192		13.949172		13,798,409	0.00	%		9.74	%
2005	0.10	%	102,290		10.773967		1,102,069	0.00	%		9.63	%
2005	0.25	%	161,102		8.720733		1,404,928	0.00	%		9.47	%
2005	0.40	%	468		12.454266		5,829	0.00	%		9.30	%
Putnam VT OTC & Emerging Growth Fund - IB Shares (obsolete) (PVOEGB)
2008	0.20	%	5,847		5.470558		31,986	0.00	%		-45.29	%	1/2/2008
2008	0.25	%	533		5.467827		2,914	0.00	%		-45.32	%	1/2/2008
U.S. Equity Flex II Portfolio (obsolete) (WGIP)
2008	0.00	%	72,061		11.767861		848,004	3.07	%		-36.19	%
2008	0.10	%	11,493		10.447694		120,075	3.07	%		-36.25	%
2007	0.00	%	87,284		18.440646		1,609,573	1.30	%		1.79	%
2007	0.25	%	3,478		14.931536		51,932	1.30	%		1.53	%
2006	0.00	%	96,894		18.117019		1,755,430	0.89	%		19.35	%
2006	0.25	%	5,326		14.706419		78,326	0.89	%		19.05	%
2005	0.00	%	117,378		15.179777		1,781,772	0.73	%		8.14	%
2005	0.25	%	2,276		12.352874		28,115	0.73	%		7.87	%
2009	Contract owners equity:									$	3,763,821,378
2008	Contract owners equity:									$	3,233,903,295
2007	Contract owners equity:									$	4,818,129,455
2006	Contract owners equity:									$	4,464,442,368
2005	Contract owners equity:									$	3,947,899,004

* This represents the annual contract expense rate of the variable account for the period indicated and includes only those expenses that are charged through a reduction in the unit values. Excluded are expenses of the underlying mutual funds and charges made directly to contract owner accounts through the redemption of units.

** This represents the dividends for the period indicated, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund, net of management fees assessed by the fund manager, divided by average net assets. The ratios exclude those expenses, such as policy and asset charges, that result in direct reductions to the contractholder accounts either through reductions in the unit values or redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying fund in which the subaccounts invest

*** This represents the total return for the period indicated and includes a deduction only for expenses assessed through a reduction in the unit values. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return is not annualized if the underlying mutual fund option is initially offered, funded, or both, during the period presented.

**** This represents the date the underlying mutual fund option was initially added and funded. Total returns presented in years of initial offering represent the return for the period from the initial offering through year end.

Report of Independent Registered Public Accounting Firm

The Board of Directors of Nationwide Life Insurance Company and

Contract Owners of Nationwide VLI Separate Account-4:

We have audited the accompanying statement of assets, liabilities and contract owners’ equity of Nationwide VLI Separate Account-4 (comprised of the sub-accounts listed in note 1(b) (collectively, “the Accounts”)) as of December 31, 2009, and the related statements of operations and changes in contract owners’ equity, and the financial highlights for each of the periods indicated herein. These financial statements and financial highlights are the responsibility of the Accounts’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2009, by correspondence with the transfer agents of the underlying mutual funds. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of the Accounts as of December 31, 2009, and the results of their operations, changes in contract owners’ equity, and financial highlights for each of the periods indicated herein, in conformity with U.S. generally accepted accounting principles.

/s/    KPMG LLP

Columbus, Ohio

March 10, 2010