8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 29, 2008

AMERIPRISE FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-32525	13-3180631
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)
55 Ameriprise Financial CenterMinneapolis, Minnesota		55474
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (612) 671-3131

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02       Results of Operations and Financial Conditions.

On October 29, 2008, Ameriprise Financial, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter of 2008.  A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference and furnished herewith. In addition, the Company furnishes herewith, as Exhibit 99.2, its Statistical Supplement for the quarterly period ended September 30, 2008.

We follow accounting principles generally accepted in the United States (GAAP). The press release furnished as Exhibit 99.1 and the financial information furnished as Exhibit 99.2 include information on both a GAAP and non-GAAP adjusted basis.

Certain non-GAAP measures in these exhibits exclude items that are a direct result of our separation from American Express Company which consist of non-recurring separation costs. Our non-GAAP financial measures, which our management views as important indicators of financial performance, include the following: adjusted earnings (loss), after-tax (adjusted to exclude separation costs, after-tax); separation costs, after-tax; credit-related losses, after-tax; RiverSource 2a-7 money market funds support costs, after-tax; expenses related to unaffiliated money market funds, after-tax; core operating earnings; core operating earnings, after-tax; credit market losses; core operating return on equity; return on equity excluding separation costs; adjusted return on equity; adjusted earnings per diluted share; adjusted pretax income (losses); adjusted pretax margin; adjusted earnings margin; total expenses before separation costs;  pretax return on allocated equity for pretax segment income; pretax operating earnings; and pretax operating earnings margin. Management believes that the presentation of these non-GAAP financial measures excluding these specific income statement impacts best reflects the underlying performance of our 2008 operations and facilitates a more meaningful trend analysis. These non-GAAP measures were used for goal setting, certain compensation related to our annual incentive award program and evaluating our performance on a basis comparable to that used by securities analysts.

We also present in Exhibits 99.1 and 99.2 debt to capital ratios that exclude the effect of a nonrecourse collateralized debt obligation consolidated in accordance with Financial Accounting Standards Board Interpretation No. 46, “Consolidation of Variable Interest Entities,” as revised, and non-recourse debt of certain property fund limited partnerships managed by our subsidiary, Threadneedle Asset Management Holdings Limited, consolidated in accordance with Emerging Issues Task Force Issue No. 04-5, “Determining whether a General Partner, or the General Partners as a Group, Controls a Limited Partnership or Similar Entity When the Limited Partners Have Certain Rights.” Management believes that the debt to capital ratios, excluding this non-recourse debt, better represent our capital structure.  In addition, we provide debt to capital ratio information that reflects an equity credit on our junior subordinated notes issued on May 26, 2006. These junior subordinated notes receive at least a 75% equity credit by the majority of the rating agencies.

Item 9.01       Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.	Description
Exhibit 99.1	Press Release dated October 29, 2008 announcing financial results for the third quarter of 2008
Exhibit 99.2	Statistical Supplement for the quarterly period ended September 30, 2008

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	AMERIPRISE FINANCIAL, INC.
	(Registrant)
Date:  October 29, 2008	By	/s/ Walter S. Berman
		Walter S. Berman
		Executive Vice President and
		Chief Financial Officer

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EX-99.1

Exhibit 99.1

	Ameriprise Financial, Inc.
	Ameriprise Financial Center Minneapolis, MN 55474

News Release

Ameriprise Financial Reports

Third Quarter 2008 Results

$0.32 loss per share in the quarter, driven by credit market dislocation

Core operating earnings were $1.04 per share

Company maintains high-quality asset portfolio, strong liquidity and excess capital

MINNEAPOLIS – October 29, 2008 – Ameriprise Financial, Inc. (NYSE: AMP) today reported a net loss of $70 million, or ($0.32) per share, for the quarter ended September 30, 2008, compared to net income of $198 million, or $0.83 per share, in the prior year quarter. Third quarter 2008 results were negatively impacted by $301 million in after-tax losses primarily driven by previously disclosed credit-related losses in Lehman Brothers and Washington Mutual securities, costs of supporting RiverSource 2a-7 money market funds and expenses related to unaffiliated money market funds.

Core operating earnings for the third quarter of 2008, which exclude the losses from credit market dislocation, were $231 million after-tax, or $1.04 per share, compared to core operating earnings of $237 million after-tax, or $0.99 per share, in the third quarter of 2007.

In the quarter, core operating earnings were negatively impacted by the continuing decline in equity markets, clients’ shift to more cash-driven products compared to traditional sales activities, and a lower yield on the company’s investment portfolio as a result of strengthening its liquidity position. These impacts were partially offset by favorable adjustments from updating valuation assumptions and conversion to a new valuation system for RiverSource Life products. Consistent with prior quarters, the company continues to manage expenses prudently to mitigate the impact of lower revenues.

The company maintains a high-quality balance sheet and strong liquidity, with more than $4 billion in cash and cash equivalents. Management expects to have approximately $1 billion in excess capital at the end of 2008 after allocating capital to previously announced acquisitions.

“Credit market events and weak equity markets affected both our earnings and client activity in the third quarter,” said Jim Cracchiolo, chairman and chief executive officer. “Despite these market effects, the decisions and investments we’ve made have reinforced the strength of our business: Our client retention is strong, our advisors to report consistently high levels of satisfaction, and we are capturing retail asset flows.

“We continue to maintain strong capital and liquidity positions, and we are managing expenses carefully. While markets remain challenging, I am confident that our strengths, along with our diversified business model, will allow us to emerge from this difficult period in a stronger competitive position.”

Third Quarter 2008 Summary

Management believes the exclusion of after-tax losses due to credit market dislocation from net income best reflects the underlying performance of the business for the current quarter. Management also believes that the presentation of adjusted measures best reflects the underlying performance of 2007 operations, as it excludes non-recurring separation costs. Excluding non-recurring separation costs is consistent with the non-GAAP financial information presented in the company’s Annual Report on Form 10-K for year-end 2007, filed on February 29, 2008 with the SEC.  For the non-GAAP presentation of after-tax amounts throughout this release, the tax effect is calculated using the statutory tax rate of 35 percent.

Ameriprise Financial, Inc.
Third Quarter Summary

						%	Per Diluted Share						%
(in millions, unaudited)	2008			2007		Change	2008			2007		Change
Net income (loss)	$	(70	)	$	198	NM	$	(0.32	)(2)	$	0.83	NM
Add: Separation costs, after-tax(1)	—			39		NM	—			0.16		NM
Adjusted earnings (losses), after-tax	(70		)	237		NM	(0.32		)(2)	0.99		NM
Add: After-tax impacts:(1)
Credit-related losses	213			—		NM	0.96			—		NM
RiverSource 2a-7 money market funds support costs	57			—		NM	0.26			—		NM
Expenses related to unaffiliated money market funds	31			—		NM	0.14			—		NM
Core operating earnings, after-tax	$	231		$	237	(3)%	$	1.04		$	0.99	5%

Weighted average common shares outstanding:
Basic	219.1	235.4
Diluted	221.7	239.2

NMNot Meaningful.

(1)For this non-GAAP presentation, after-tax is calculated using the statutory tax rate of 35%.

(2)Diluted shares used in this calculation represent basic shares due to the net loss. Using actual diluted shares would result in anti-dilution.

Excluded from core operating earnings were the following impacts from the dislocation in credit markets in the third quarter of 2008:

·$213 million, or $0.96 per share, in after-tax credit-related losses:

·$89 million in realized losses related to Lehman Brothers securities,

·$43 million in realized losses related to Washington Mutual securities,

·$66 million in realized losses of non-agency, residential mortgage-backed securities,

·$12 million in realized losses related to other securities, and

·$3 million in write-offs of Lehman Brothers derivatives. The pretax amount is reflected in the benefits, claims, losses and settlement expense line.

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·$57 million, or $0.26 per share, in after-tax expenses to support $1 net asset values of RiverSource 2a-7 money market funds that held Lehman Brothers commercial paper:

·$50 million for the purchase of Lehman Brothers commercial paper at 100 percent plus accrued interest, less the then current market value. The pretax amount is reflected in the general and administrative expense line.

·$7 million reflecting the decline in price from the date of purchase through September 30, 2008. The pretax amount is reflected in net investment income.

·$31 million, or $0.14 per share, in after-tax expenses related to unaffiliated money market funds:

·$23 million for guaranteeing specific client holdings. The pretax amount is reflected in the general and administrative expense line.

·$8 million for a provision for losses on receivables. The pretax amount is reflected in distribution fees.

In the quarter, core operating earnings were significantly impacted by equity market depreciation, lower client activity and a lower yield on the company’s investment portfolio as a result of strengthening its liquidity position. Core operating earnings also included the following disclosed items:

·$40 million in net after-tax benefits, or $0.18 per share, resulting from a:

·$69 million benefit from the combined impact of the company’s annual detailed review of valuation assumptions for RiverSource Life products and the conversion to a new industry standard valuation system that provided enhanced actuarial modeling capabilities, and a

·$29 million loss from the market’s impact on deferred acquisition cost (DAC) and deferred sales inducement cost (DSIC) balances.

·$9 million in after-DAC, after-tax benefits, or $0.04 per share, from variable annuity hedge ineffectiveness. This includes a benefit from the impact of credit spread widening on the SFAS 157 valuation of the liability. This benefit was partially offset by underlying hedge performance.

·$14 million in tax benefits, or $0.06 per share, from finalizing prior period tax returns.

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Liquidity and Balance Sheet

Management’s long-standing focus on risk management and risk-return based decision-making has positioned the company well.

As of September 30, 2008, the company had strong balance sheet fundamentals:

Substantial amounts of uncommitted liquidity

·Cash and cash equivalents were over $4 billion, up $0.6 billion from the second quarter of 2008, with $1.3 billion at the holding company.

·In addition, the company maintains back-up lines of credit at parent, subsidiary and mutual fund levels.

Excess capital and conservative capital management

·The company had more than $1 billion in excess capital.

·RiverSource Life companies’ estimated risk-based capital ratio was well in excess of the companies’ target to maintain AA ratings, even after investment losses and an extraordinary dividend of $375 million in the quarter to transfer a portion of excess capital to the parent company.

·The company repurchased 2.3 million shares of its common stock in the quarter for $94 million.

High quality investment portfolio

·The company’s Available-for-Sale portfolio of approximately $23 billion is both well-diversified and high-quality.

·Realized losses in the quarter were primarily driven by credit market dislocations, primarily Lehman Brothers and Washington Mutual, and to a lesser extent, non-agency residential mortgage-backed securities.

·Net unrealized losses were approximately $1.5 billion, or $1.0 billion after-tax. The increase in unrealized losses in the quarter was primarily the result of illiquidity driving increased corporate credit spreads, not specific credit events.

·Approximately 7 percent of the portfolio is rated below investment grade.

·The company’s $3 billion commercial mortgage loan portfolio has an average loan-to-value ratio of 54 percent, a coverage ratio of over 1.8 times, and has experienced no delinquencies for the past 9 quarters.

Conservative capital ratios

·The debt-to-capital ratio was 23.6 percent.

·The debt-to-capital ratio excluding non-recourse debt and with 75 percent equity credit for hybrid securities was 18.6 percent.

·The year-to-date 2008 ratio of earnings to fixed charges was 3.4 times.

Management believes the company has the liquidity, capital and asset quality to support its business model through economic cycles.

More than adequate liquidity to meet expected demands

·No securities lending of its owned assets.

·No reliance on commercial paper, bank lines or other short-term institutional funding for liquidity.

·No debt maturities until November 15, 2010.

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Preservation of conservative capital position

·The company will continue to utilize its enterprise risk management capabilities and invest in product hedging to anticipate and mitigate risk within tolerance levels.

·Management believes it will have approximately $1 billion in excess capital at year end, after allocating capital to previously announced acquisitions, and has no plans to access the equity markets.

·In light of the current market environment and the company’s conservative approach, management has temporarily suspended its stock repurchase program.

·Given the strength of its financial position, the company will continue to maintain its current quarterly cash dividend. The $0.17 per common share dividend is payable on November 21, 2008 to Ameriprise Financial shareholders of record at the close of business on November 7, 2008.

Well positioned asset portfolio

·While the portfolio is not immune to additional impairments, the company’s high level of liquidity mitigates the risk of having to sell securities in an unrealized loss position.

·The entire net after-tax unrealized loss position represented approximately 13 percent of total shareholders’ equity excluding accumulated other comprehensive income (AOCI). Management believes the majority of the unrealized loss position will not be realized.

·The company maintains low investment leverage, reflected as investments as a multiple of equity. Therefore, relative changes in the value of the portfolio will have a lower impact on equity.

Additional detail on the company’s investment portfolio has been posted to its investor relations website at ir.ameriprise.com.

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Third Quarter 2008 Highlights

·The company’s client base remained stable, with continued strong client retention of 94 percent.

·Branded financial planning net cash sales increased 9 percent to $48 million in the quarter.

·The franchisee advisor force increased 2 percent compared to the prior year, to 7,830. Employee advisor attrition slowed in the quarter while the company continued its reengineering efforts.

·The company demonstrated its ability to continue to meet clients’ changing needs by generating retail net inflows of $2.0 billion in the quarter, compared to $2.5 billion in net inflows in the prior year quarter and $1.1 billion in net inflows in the prior quarter. Retail net inflows in the third quarter of 2008 included a mix shift to cash holdings from other products, which is reflected in lower flows into wrap accounts, retail funds and variable annuities.

·Owned, managed and administered assets decreased 20 percent year-over-year to $396 billion as of September 30, 2008, reflecting the 24 percent decline in the S&P 500 Index over the same time period, as net inflows in wrap and variable annuities were more than offset by net outflows in asset management products.

·Life insurance in-force grew to $192 billion, up 4 percent from the prior-year period.

·The company’s previously announced acquisitions remain on-track and are expected to close in the fourth quarter.

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Ameriprise Financial, Inc.

Consolidated Income Statements

	Quarter Ended September 30,
	2008										2008 Core
							Core				vs.
(in millions, unaudited)	GAAP Earnings			Credit Market Losses			Operating Earnings		2007 GAAP Earnings		2007 GAAP B/(W)*
Revenues
Management and financial advice fees	$	721		$	—		$	721	$	798	(10	)%
Distribution fees	376			12		(1)	388		435		(11	)
Net investment income	62			333		(2)	395		501		(21	)
Premiums	276			—			276		269		3
Other revenues	249			—			249		165		51
Total revenues	1,684			345			2,029		2,168		(6	)
Banking and deposit interest expense	43			—			43		57		25
Total net revenues	1,641			345			1,986		2,111		(6	)
Expenses	473			—			473		519		9
Distribution expenses Interest credited to fixed accounts	200			—			200		212		6
Benefits, claims, losses and settlement expenses	196			(5		)(3)	191		360		47
Amortization of deferred acquisition costs	240			—			240		128		(88	)
Interest and debt expense	27			—			27		27		—
Separation costs	—			—			—		60		NM
General and administrative expense	667			(113		)(4)	554		588		6
Total expenses	1,803			(118		)	1,685		1,894		11
Pretax income (loss)	(162		)	463			301		217		39
Income tax provision (benefit)	(92		)	162		(5)	70		19		NM
Net income (loss)	$	(70	)	$	301		$	231	$	198	17	%

*B/(W) means the percent 2008 core operating earnings are either better than or worse than 2007 GAAP earnings.

NMNot Meaningful.

(1)Includes write-off of distribution revenue receivable from unaffiliated money market funds.

(2)Includes securities losses related to the Lehman Brothers bankruptcy, Washington Mutual and non-agency, residential mortgage-backed securities and realized losses related to other securities.

(3)Includes a loss on derivatives related to the Lehman Brothers bankruptcy.

(4)Includes support costs related to RiverSource 2a-7 money market funds and unaffiliated money market funds

(5)Reflects tax at the statutory rate of 35% on all impacts related to the credit market losses.

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Third Quarter 2008 Consolidated Results

The company reported a net loss of $70 million for the third quarter of 2008. Excluding $301 million of after-tax impacts from credit market dislocation for the quarter ended September 30, 2008 and $39 million of after-tax separation costs for the quarter ended September 30, 2007, core operating earnings declined 3 percent to $231 million.

Total net revenues declined 22 percent, or $470 million, to $1.6 billion, primarily due to declines in net investment income driven by credit market events in the quarter. Excluding these impacts, net revenues were $2.0 billion, down 6 percent. The impact of equity market depreciation, lower client activity and lower yield on the investment portfolio was partially offset by favorable adjustments from updating valuation assumptions and conversion to a new valuation system for RiverSource Life products.

Management and financial advice fees declined 10 percent, or $77 million, to $721 million. The majority of the impact was due to equity market depreciation.

Distribution fees declined 14 percent, or $59 million, to $376 million, primarily driven by lower client activity. Excluding the provision for losses on receivables from unaffiliated money market funds, distribution fees were down 11 percent. The company believes market turmoil resulted in clients’ decreased risk tolerance, reflected in an increase in client cash and deposit balances in the quarter and slowing of sales and flows for other products, which generate distribution fees.

Net investment income decreased 88 percent, or $439 million, to $62 million, primarily due to $333 million in pretax investment losses driven by credit market dislocation, including previously disclosed investments in Lehman Brothers and Washington Mutual, as well as impairments to non-agency, mortgage-backed securities. Excluding these impacts, net investment income declined 21 percent, primarily due to volume declines in annuity fixed accounts and a decrease in commercial mortgage loan reserves in the prior-year period. The decline also included the impact of substantially lower short-term interest rates on the company’s increased liquidity position.

Premiums increased 3 percent, or $7 million, to $276 million, due to growth in Auto & Home premiums.

Other revenues increased 51 percent, or $84 million, to $249 million, largely due to a $95 million benefit from updated valuation assumptions and conversion to a new valuation system for RiverSource Life products, partially offset by a $12 million decline in revenues consolidated under EITF 04-5. Other revenues in the prior-year period included an immaterial impact from updating valuation assumptions for RiverSource Life products. For detail on the combined and net 2008 impacts, please see the table on page 14.

Banking and deposit interest expense decreased 25 percent, or $14 million, to $43 million, primarily due to lower crediting rates on certificate balances, partially offset by higher certificate balances.

Expenses

Consolidated expenses declined 5 percent, or $91 million, to $1.8 billion. Consolidated expenses declined 8 percent, or $149 million, when excluding $118 million of credit market impacts primarily reflecting the company’s decisions to support RiverSource 2a-7 money market funds and expenses related to unaffiliated money market funds, and excluding $60 million in non-recurring separation-related expenses in the prior-year period. The decline in consolidated expenses reflects lower business volumes and continued strong

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expense controls. The net impact of updating valuation assumptions and conversion to a new valuation system, as well as the market’s impact on DAC and DSIC increased expenses by $35 million in the quarter, compared to an increase of $27 million in the prior-year period.

Distribution expenses declined 9 percent, or $46 million, to $473 million, primarily due to decreases in advisor compensation reflecting lower year-over-year cash sales and market-driven asset declines.

Interest credited to fixed accounts decreased 6 percent, or $12 million, to $200 million, due to year-over-year declines in annuity fixed account balances.

Benefits, claims, losses and settlement expenses decreased 46 percent, or $164 million, to $196 million. The decrease was primarily the result of a net $84 million benefit from updating valuation assumptions, conversion to a new valuation system and the market’s impact on DSIC, partially offset by growth of business volumes and increased life, long-term care and disability insurance benefits. Prior year benefits increased $12 million from updating valuation assumptions. The third quarter of 2007 included $63 million of increased benefit expenses from the mark-to-market of variable annuity guaranteed benefit riders, compared to a decrease of $27 million in the current quarter.

Amortization of DAC increased 88 percent, or $112 million, to $240 million, primarily due to a $120 million expense from the net impact of updating valuation assumptions and conversion to a new valuation system, as well as the markets impact on DAC, compared to $15 million of additional expenses in the third quarter of 2007.

General and administrative expense increased 13 percent, or $79 million, to $667 million. Excluding $113 million from supporting RiverSource 2a-7 money market funds and expenses related to unaffiliated money market funds, general and administrative expense declined 6 percent, to $554 million. The decline reflected cost controls, lower compensation-related expense, and a decline in expenses from certain limited partnerships consolidated under EITF 04-5, which had corresponding revenue offsets.

Taxes

The third quarter of 2008 included a $14 million tax benefit from finalizing prior period tax returns, compared to a $21 million tax benefit in the prior-year period.

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Ameriprise Financial, Inc.

Segment Results

	Quarter Ended September 30,
	2008											2008 Core
						Core			2007			vs. 2007
(in millions, unaudited)	GAAP Earnings			Credit Market Losses		Operating Earnings			GAAP Earnings			GAAP B/(W)*
Pretax income (loss)
Certificates and Banking	$	(112	)	$	118	$	6		$	3		100	%
Wealth Management and Distribution	35			16		51			91			(44	)
Advice & Wealth Management	(77		)	134		57			94			(39	)
Asset Management	15			—		15			72			(79	)
Annuities	(34		)	161		127			91			40
Protection	104			44		148			93			59
Corporate & Other	(170		)	124		(46		)	(133		)	65
Pretax income (loss)	(162		)	463		301			217			39
Income tax provision (benefit)	(92		)	162		70			19			NM
Net income (loss)	$	(70	)	$	301	$	231		$	198		17	%

*	B/(W) means the percent 2008 core operating earnings are either better than or worse than 2007 GAAP earnings.
NM	Not Meaningful.

Segment Financial Highlights

Segment results reflect both the difficult market environment and management’s efforts to control expenses while investing for growth. Segment results do not include income taxes.

Advice & Wealth Management reported a pretax loss of $77 million for the quarter, primarily driven by $118 million in net realized losses in the certificate and bank investment portfolios. Excluding impacts from the credit market events, segment core operating earnings declined 39 percent, or $37 million, to $57 million, primarily due to market-driven asset declines and lower client activity in the wealth management and distribution business. Expenses remained well-controlled, reflecting lower compensation related expenses and management’s initiatives to reduce expenses to mitigate revenue declines.

Asset Management pretax income declined 79 percent, or $57 million, to $15 million, primarily due to lower assets, driven by market depreciation, negative foreign currency translation, losses on seed money and net outflows. RiverSource net outflows in the quarter were primarily due to reduced mutual fund sales in the Ameriprise channel as client activity slowed, as well as $3.7 billion in anticipated outflows of institutional assets of a former affiliate. Redemption rates for RiverSource Funds have remained stable throughout 2008. Threadneedle continued to experience anticipated outflows of lower-margin institutional assets, as well as outflows of hedge fund assets due to portfolio management changes. Segment expenses remained well controlled. The pending acquisition of J. & W. Seligman, which is scheduled to close in the coming weeks, is expected to significantly increase the company’s third party distribution and investment capabilities.

Annuities reported a pretax loss of $34 million for the quarter, primarily due to $161 million in net realized impairments. Excluding credit market losses, segment core operating earnings increased 40 percent, or $36 million, to $127 million, primarily due to a $16

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million benefit to segment pre-tax income from the net impact of updating valuation assumptions and conversion to a new valuation system, as well as the negative impact of the markets on DAC and DSIC. Reflecting clients’ decreasing risk tolerance and preference to hold cash, variable annuity net inflows declined to $0.6 billion in the quarter, while fixed annuity net outflows improved to $0.2 billion. In 2007, updating valuation assumptions and the market impact on DAC and DSIC resulted in an immaterial reduction in expense.

Protection pretax income increased 12 percent, or $11 million, to $104 million. Excluding net realized losses of $44 million, segment core operating earnings increased 59 percent, or $55 million, to $148 million, primarily driven by a $46 million benefit from the net impact of updating valuation assumptions and conversion to a new valuation system, as well as the negative market impact on DAC, compared to a $30 million negative impact last year. Results also included a $26 million increase in life, disability income and long-term care benefits.

Corporate & Other reported a pretax loss of $170 million, primarily due to a net $124 million impact from supporting RiverSource 2a-7 money market funds and expenses related to unaffiliated money market funds. Excluding these negative impacts, the $46 million segment loss improved by $87 million from the prior-year period, primarily due to $60 million of separation costs in the prior year quarter, as well as management’s continued focus on expense management.

Contacts

Investor Relations:	Media Relations:
Laura Gagnon	Paul Johnson
Ameriprise Financial	Ameriprise Financial
612.671.2080	612.671.0625
laura.c.gagnon@ampf.com	paul.w.johnson@ampf.com
Kathryn Koessel	Benjamin Pratt
Ameriprise Financial	Ameriprise Financial
612.678.7610	612.678.5881
kathryn.c.koessel@ampf.com	benjamin.j.pratt@ampf.com

Ameriprise Financial, Inc. is a diversified financial services company serving the comprehensive financial planning needs of the mass affluent and affluent. For more information, visit ameriprise.com.

RiverSource mutual funds are distributed by RiverSource Distributors, Inc. and Ameriprise Financial Services, Inc. Members FINRA and managed by RiverSource Investments, LLC. For complete mutual fund ranking data and other important disclosures please refer to Exhibit A “RiverSource Mutual Fund Performance and Lipper Ranking” in the Third Quarter 2008 Statistical Supplement available at ir.ameriprise.com.

The Threadneedle group of companies constitutes the Ameriprise Financial international investment platform. The group consists of wholly owned subsidiaries of Ameriprise Financial, Inc. and provides services independent from Ameriprise Financial Services, Inc., including Ameriprise Financial Services’ broker-dealer business.

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Ameriprise Certificates are issued by Ameriprise Certificate Company and distributed by Ameriprise Financial Services, Inc. Member FINRA.

Ameriprise Financial Services, Inc. offers financial planning services, investments, insurance and annuity products. RiverSource insurance and annuity products are issued by RiverSource Life Insurance Company, and in New York only by RiverSource Life Insurance Co. of New York, Albany, New York. Only RiverSource Life Insurance Co. of New York is authorized to sell insurance and annuity products in the state of New York. These companies are all part of Ameriprise Financial, Inc. CA License #0684538.

Forward-Looking Statements

This news release contains forward-looking statements that reflect management’s plans, estimates and beliefs. Actual results could differ materially from those described in these forward-looking statements. The company has made various forward-looking statements in this report. Examples of such forward-looking statements include:

·the statement of belief in this news release that the company has the liquidity, capital and asset quality to support its business model through economic cycles;

·the statement of belief in this news release that the company will have approximately $1 billion in excess capital at year end, after allocating capital to previously announced acquisitions;

·the statement in this news release that the company has no plans to access the equity markets;

·the statement in this news release that the company will continue to maintain its current quarterly cash dividend;

·the statement of belief in this news release that the majority of the unrealized loss position of the company’s owned asset portfolio as of third-quarter-end will not be realized;

·the statement in this news release that relative changes in the value of the company’s owned asset portfolio will have a lower impact on equity;

·the statement in this news release that the company’s previously announced acquisitions remain on-track and are expected to close in the fourth quarter;

·the statement in this news release to the effect of asset outflows resulting from an anticipated $3.7 billion in outflows of institutional assets of a former affiliate;

·Statements of the company’s plans, intentions, expectations, objectives or goals, including those relating to asset flows, mass affluent and affluent client acquisition strategy, financial advisor retention and enrollments, general and administrative costs, consolidated tax rate; and excess capital position;

·Statements about future economic performance, the performance of equity markets and interest rate variations and the economic performance of the United States and of global markets; and

·Statements of assumptions underlying such statements.

The words “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from such statements.

Such factors include, but are not limited to:

·changes in the valuations, liquidity and volatility in the interest rate, equity market, and foreign exchange environments;

12

·changes in the litigation and regulatory environment, including ongoing legal proceedings and regulatory actions, the frequency and extent of legal claims threatened or initiated by clients, other persons and regulators, and developments in regulation and legislation;

·investment management performance and consumer acceptance of the company’s products;

·effects of competition in the financial services industry and changes in product distribution mix and distribution channels;

·capital structure, including ratings and indebtedness, limitations on subsidiaries to pay dividends, and the extent, manner, terms and timing of any share repurchases management may effect;

·risks of default by issuers or guarantors of investments the company owns or by counterparties to hedge, derivative, insurance or reinsurance arrangements;

·experience deviations from the company’s assumptions regarding morbidity, mortality and persistency in certain annuity and insurance products, or from assumptions regarding market volatility underlying our hedges on guaranteed benefit annuity riders;

·the impacts of the company’s efforts to improve distribution economics and to grow third-party distribution of its products;

·the ability to complete the acquisition opportunities we negotiate, and to realize the financial, operating and business fundamental benefits we plan for those opportunities;

·the ability to realize benefits from reengineering and tax planning; and

·general economic and political factors, including consumer confidence in the economy as well as the ability and inclination of consumers generally to invest, the costs of products and services the company consumes in the conduct of its business, and applicable legislation and regulation, including tax laws, tax treaties, fiscal and central government treasury policy, and regulatory rulings and pronouncements.

Management cautions you that the foregoing list of factors is not exhaustive. There may also be other risks that management is unable to predict at this time that may cause actual results to differ materially from those in forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Management undertakes no obligation to update publicly or revise any forward-looking statements. The foregoing list of factors should be read in conjunction with the “Risk Factors” discussion included as Part 1, Item 1A of our Annual Report on Form 10-K for year-end 2007 filed with the SEC on February 29, 2008 and at ir.ameriprise.com/phoenix.zhtml?c=191716&p=irol-forwardLookingStatement.

The financial results discussed in this release represent past performance only, which may not be used to predict or project future results. For information about Ameriprise Financial entities, please refer to the Third Quarter 2008 Statistical Supplement available at ir.ameriprise.com and the tables that follow in this release.

13

Ameriprise Financial, Inc.
Disclosed Items Included in Core Earnings

	Quarter Ended September 30, 2008
(in millions, unaudited)	Valuation Assumption, System Conversion and Market(1)			EITF 04-5(2)			VA Riders Impact(3)
Revenues	$	—		$	(1	)	$	—
Management and financial advice fees
Distribution fees	—			—			—
Net investment income	—			(1		)	—
Premiums	2			—			—
Other revenues	95			(12		)	—
Total revenues	97			(14		)	—
Banking and deposit interest expense	—			—			—
Total net revenues	97			(14		)	—
Expenses
Distribution expenses	(1		)	—			—
Interest credited to fixed accounts	—			—			—
Benefits, claims, losses and settlement expenses	(84		)	—			(27		)
Amortization of deferred acquisition costs	120			—			13
Interest and debt expense	—			—			—
General and administrative expense	—			(14		)	—
Total expenses	35			(14		)	(14		)
Pretax income (loss)	$	62		$	—		$	14

(1)	Includes the net impact of changes in valuation assumptions and the implementation of a new valuation system for RiverSource Life products, as well as the markets impact on DAC and DSIC.
(2)	In accordance with EITF 04-5, reflects consolidation of property fund limited partnerships managed by Threadneedle and hedge fund partnerships managed by RiverSource.
(3)	Variable annuity riders hedge impact excluding DAC unlocking, including $3 million loss on derivatives related to Lehman Brothers which is also included in credit losses on page 7.

14

Ameriprise Financial, Inc.

Return on Equity Calculation for the 12 Months Ended September 30, 2008

(in millions, unaudited)	ROE			Adjustments			Core Operating return on equity(1)
Return	$	586		$	341		$	927
Equity	$	7,436		$	(2	)	$	7,434
Return on Equity	7.9		%				12.5		%

Ameriprise Financial, Inc.
Return on Equity Calculation for the 12 Months Ended September 30, 2007

(in millions, unaudited)	ROE			Adjustments			Return on equity excluding separation costs(2)
Return	$	730		$	215		$	945
Equity	$	7,753		$	(102	)	$	7,651
Return on Equity	9.4		%				12.4		%

(1)    Core operating return on equity calculated using core operating earnings, after-tax (net income excluding after-tax non-recurring separation costs, after-tax realized gains and losses and the after-tax impact of credit market dislocation) in the numerator, and equity excluding equity allocated to expected non-recurring separation costs as of the last day of the preceding four quarters and the current quarter in the denominator.

(2)Return on equity excluding separation costs calculated using adjusted earnings (income excluding after-tax non-recurring separation costs) in the numerator, and equity excluding equity allocated to expected non-recurring separation costs as of the last day of the preceding four quarters and the current quarter in the denominator.

Return on equity calculations use the trailing twelve months’ return, and equity calculated using a five point average of quarter-end equity.

15

Ameriprise Financial, Inc.

Reconciliation Table: Debt to Total Capital

September 30, 2008

(in millions, unaudited)	GAAP Measure			Non-recourse Debt		Debt Less Non-recourse Debt			Impact of 75% Equity Credit(1)		Debt Less Non-recourse with Equity Credit(1)
Debt	$	2,080		$	80	$	2,000		$	375	$	1,625
Capital	$	8,797		$	80	$	8,717				$	8,717
Debt to Capital	23.6		%			22.9		%			18.6		%

(1)The Company’s junior subordinated notes receive an equity credit of at least 75% by the majority of the rating agencies.

# # #

© 2008 Ameriprise Financial, Inc. All rights reserved.

16

EX-99.2

Exhibit 99.2

Statistical Supplement Package

(unaudited)

Third Quarter 2008

1

Ameriprise Financial, Inc.

Statistical Supplement Information

Table of Contents

		Page
Ameriprise Financial, Inc.
	Highlights	4
	Financial Summary	5
	Consolidated Income Statements	6
	Consolidated, Per Share Summary	8
Advice & Wealth Management Segment
	Segment Income Statements	10
	Segment Metrics	11
Asset Management Segment
	Segment Income Statements	13
	Segment Metrics	14
	RiverSource Asset Management Products	15
	Threadneedle Asset Management Products	16
Annuities Segment
	Segment Income Statements	18
	Segment Metrics	19
Protection Segment
	Segment Income Statements	21
	Segment Metrics	22
Corporate & Other Segment
	Segment Income Statements	24
Eliminations
	Income Statements	25
Balance Sheet and Ratings Information
	Consolidated Balance Sheets	27
	Capital and Ratings Information	28
	Investments	29
Non-GAAP Financial Information		30
Glossary of Selected Terminology
	Glossary of Selected Terminology - Segments	31
	Glossary of Selected Terminology	32
Exhibit A
	RiverSource Mutual Fund Performance and Lipper Ranking	35
Exhibit B
	Reconciliation Tables	42
	Return on Equity	43
Exhibit C
	Disclosed Items	45

2

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Consolidated Results

3

Ameriprise Financial, Inc.

Highlights

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions, except earnings per share amounts, headcount and as otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Management Targets
Net revenue growth: Target 6 - 8%	9.5		%	5.9		%	(1.6		)%	(8.1		)%	(22.3		)%	6.9		%	(10.7		)%	(31.8		)%			(17.6		)%			(14.2		)%
Adjusted return on equity: Target 12 - 15% (1)	12.4		%	12.6		%	12.2		%	12.0		%	8.1		%	12.4		%	8.1		%	(4.3		)%			(4.3		)%			(3.9		)%
Adjusted earnings per diluted share growth: Target 12 - 15% (1)	5.3		%	13.7		%	(8.9		)%	(5.1		)%	(132.3		)%	16.2		%	(49.1		)%	#					(65.3		)%			#
Margins
Net income margin	9.4		%	11.3		%	9.6		%	10.6		%	(4.3		)%	8.9		%	5.9		%	(13.7		)%			(3.0		)%			(14.9		)%
Adjusted pretax margin (1)	13.1		%	16.2		%	9.8		%	12.0		%	(9.9		)%	14.1		%	4.8		%	(23.0		)%			(9.3		)%			(21.9		)%
Adjusted earnings margin (1)	11.2		%	12.1		%	9.6		%	10.6		%	(4.3		)%	11.0		%	5.9		%	(15.5		)%			(5.1		)%			(14.9		)%
Earnings Per Share
Basic earnings (loss) per share	$	0.84		$	1.10		$	0.84		$	0.94		$	(0.32	)	$	2.35		$	1.48		$	(1.16	)	#		$	(0.87	)	(37	)%	$	(1.26	)	#
Earnings (loss) per diluted share	$	0.83		$	1.08		$	0.82		$	0.93		$	(0.32	)	$	2.32		$	1.46		$	(1.15	)	#		$	(0.86	)	(37	)%	$	(1.25	)	#
Separation costs, after-tax	0.16			0.08			—			—			—			0.55			—			(0.16		)	#		(0.55		)	#		—			—
Adjusted earnings (loss) per diluted share (1)	$	0.99		$	1.16		$	0.82		$	0.93		$	(0.32	)	$	2.87		$	1.46		$	(1.31	)	#		$	(1.41	)	(49	)%	$	(1.25	)	#
Share Information
Total common outstanding	232.4			227.7			223.4			218.9			216.6			232.4			216.6			(15.8		)	(7	)%	(15.8		)	(7	)%	(2.3		)	(1	)%
Nonforfeitable restricted stock units	1.3			1.4			2.6			2.0			2.0			1.3			2.0			0.7			54	%	0.7			54	%	—			0	%
Total potentially dilutive	3.9			3.9			2.8			2.7			2.9			3.9			2.9			(1.0		)	(26	)%	(1.0		)	(26	)%	0.2			7	%
Total diluted shares	237.6			233.0			228.8			223.6			221.5			237.6			221.5			(16.1		)	(7	)%	(16.1		)	(7	)%	(2.1		)	(1	)%
Weighted average common shares outstanding
Basic	235.4			231.4			228.4			223.2			219.1			237.8			223.6			(16.3		)	(7	)%	(14.2		)	(6	)%	(4.1		)	(2	)%
Diluted	239.2			235.4			231.5			226.0			221.7			241.4			226.4			(17.5		)	(7	)%	(15.0		)	(6	)%	(4.3		)	(2	)%
Metrics
Equity	$	7,758		$	7,810		$	7,581		$	7,314		$	6,717		$	7,758		$	6,717		$	(1,041	)	(13	)%	$	(1,041	)	(13	)%	$	(597	)	(8	)%
Total client assets	297,856			293,899			275,958			275,473			253,431			297,856			253,431			(44,425		)	(15	)%	(44,425		)	(15	)%	(22,042		)	(8	)%
Total advisor cash sales	$	10,342		$	9,111		$	8,845		$	10,192		$	7,402		$	34,856		$	26,439		$	(2,940	)	(28	)%	$	(8,417	)	(24	)%	$	(2,790	)	(27	)%
Total financial advisors	12,003			11,824			11,609			11,521			11,433			12,003			11,433			(570		)	(5	)%	(570		)	(5	)%	(88		)	(1	)%
Net revenue per financial advisor (in thousands)	$	79		$	80		$	81		$	77		$	62		$	235		$	220		$	(17	)	(22	)%	$	(15	)	(6	)%	$	(15	)	(19	)%
Owned, Managed, and Administered Assets (in billions)
Owned	$	39.6		$	39.6		$	36.8		$	36.9		$	34.5		$	39.6		$	34.5		$	(5.1	)	(13	)%	$	(5.1	)	(13	)%	$	(2.4	)	(7	)%
Managed
External clients	315.4			307.0			287.2			283.0			243.1			315.4			243.1			(72.3		)	(23	)%	(72.3		)	(23	)%	(39.9		)	(14	)%
Owned	63.4			62.6			60.9			59.9			57.2			63.4			57.2			(6.2		)	(10	)%	(6.2		)	(10	)%	(2.7		)	(5	)%
Total managed	378.8			369.6			348.1			342.9			300.3			378.8			300.3			(78.5		)	(21	)%	(78.5		)	(21	)%	(42.6		)	(12	)%
Administered	73.5			71.0			65.8			65.6			60.7			73.5			60.7			(12.8		)	(17	)%	(12.8		)	(17	)%	(4.9		)	(7	)%
Total OMA assets	$	491.9		$	480.2		$	450.7		$	445.4		$	395.5		$	491.9		$	395.5		$	(96.4	)	(20	)%	$	(96.4	)	(20	)%	$	(49.9	)	(11	)%
Dividends paid	$	35		$	35		$	34		$	34		$	37		$	98		$	105		$	2		6	%	$	7		7	%	$	3		9	%
Common stock share repurchases	$	171		$	283		$	270		$	250		$	94		$	665		$	614		$	(77	)	(45	)%	$	(51	)	(8	)%	$	(156	)	(62	)%
Debt to total capital	22.2		%	20.5		%	21.0		%	21.6		%	23.6		%	22.2		%	23.6		%	1.4		%			1.4		%			2.0		%
Debt to total capital excluding non-recourse debt	20.5		%	20.4		%	20.9		%	21.5		%	22.9		%	20.5		%	22.9		%	2.4		%			2.4		%			1.4		%
Debt to total capital excluding non-recourse debt and 75% equity credit	16.7		%	16.6		%	17.0		%	17.4		%	18.6		%	16.7		%	18.6		%	1.9		%			1.9		%			1.2		%

(1)See non-GAAP Financial Information.

# Variance of 100% or greater.

4

Ameriprise Financial, Inc.

Financial Summary

Third Quarter 2008

Prior Year Comparisons

Year-to-Date

Qtr Chg - 3Q

YTD Chg - 3Q

Seq Qtr Chg - 3Q

(in millions unless otherwise noted, unaudited)

3 Qtr 2007

4 Qtr 2007

1 Qtr 2008

2 Qtr 2008

3 Qtr 2008

2007

2008

Diff.

%

Diff.

%

Diff.

%

Segment Summary

Net Revenues

Advice & Wealth Management	$	953		$	947		$	936		$	891		$	712		$	2,866		$	2,539		$	(241	)	(25	)%	$	(327	)	(11	)%	$	(179	)	(20	)%
Asset Management	410			492			355			364			305			1,270			1,024			(105		)	(26	)%	(246		)	(19	)%	(59		)	(16	)%
Annuities	560			580			478			494			336			1,626			1,308			(224		)	(40	)%	(318		)	(20	)%	(158		)	(32	)%
Protection	495			524			492			490			554			1,461			1,536			59			12	%	75			5	%	64			13	%
Corporate & Other	(6		)	16			9			14			(9		)	8			14			(3		)	(50	)%	6			75	%	(23		)	#
Eliminations	(301		)	(299		)	(270		)	(274		)	(257		)	(935		)	(801		)	44			15	%	134			14	%	17			6	%
Total net revenues	2,111			2,260			2,000			1,979			1,641			6,296			5,620			(470		)	(22	)%	(676		)	(11	)%	(338		)	(17	)%
Expenses
Advice & Wealth Management	859			913			872			840			789			2,615			2,501			(70		)	(8	)%	(114		)	(4	)%	(51		)	(6	)%
Asset Management	338			384			337			322			290			1,071			949			(48		)	(14	)%	(122		)	(11	)%	(32		)	(10	)%
Annuities	469			452			436			417			370			1,331			1,223			(99		)	(21	)%	(108		)	(8	)%	(47		)	(11	)%
Protection	402			370			390			377			450			1,130			1,217			48			12	%	87			8	%	73			19	%
Corporate & Other	67			74			40			60			161			198			261			94			#		63			32	%	101			#
Eliminations	(301		)	(299		)	(270		)	(274		)	(257		)	(935		)	(801		)	44			15	%	134			14	%	17			6	%
Total expenses before separation costs	1,834			1,894			1,805			1,742			1,803			5,410			5,350			(31		)	(2	)%	(60		)	(1	)%	61			4	%
Separation Costs
Corporate & Other	60			28			—			—			—			208			—			(60		)	#		(208		)	#		—			—
Pretax Segment Income (Loss)
Advice & Wealth Management	94			34			64			51			(77		)	251			38			(171		)	#		(213		)	(85	)%	(128		)	#
Asset Management	72			108			18			42			15			199			75			(57		)	(79	)%	(124		)	(62	)%	(27		)	(64	)%
Annuities	91			128			42			77			(34		)	295			85			(125		)	#		(210		)	(71	)%	(111		)	#
Protection	93			154			102			113			104			331			319			11			12	%	(12		)	(4	)%	(9		)	(8	)%
Corporate & Other	(133		)	(86		)	(31		)	(46		)	(170		)	(398		)	(247		)	(37		)	(28	)%	151			38	%	(124		)	#
Eliminations	—			—			—			—			—			—			—			—			—		—			—		—			—
Total pretax segment income (loss)	$	217		$	338		$	195		$	237		$	(162	)	$	678		$	270		$	(379	)	#		$	(408	)	(60	)%	$	(399	)	#
Pretax Income Margin
Advice & Wealth Management	9.9		%	3.6		%	6.8		%	5.7		%	(10.8		)%	8.8		%	1.5		%	(20.7		)%			(7.3		)%			(16.5		)%
Asset Management	17.6		%	22.0		%	5.1		%	11.5		%	4.9		%	15.7		%	7.3		%	(12.7		)%			(8.4		)%			(6.6		)%
Annuities	16.3		%	22.1		%	8.8		%	15.6		%	(10.1		)%	18.1		%	6.5		%	(26.4		)%			(11.6		)%			(25.7		)%
Protection	18.8		%	29.4		%	20.7		%	23.1		%	18.8		%	22.7		%	20.8		%	—					(1.9		)%			(4.3		)%
Ameriprise Financial, Inc.	10.3		%	15.0		%	9.8		%	12.0		%	(9.9		)%	10.8		%	4.8		%	(20.2		)%			(6.0		)%			(21.9		)%
Allocated Equity
Advice & Wealth Management	$	942		$	930		$	928		$	962		$	989		$	942		$	989		$	47		5	%	$	47		5	%	$	27		3	%
Asset Management	862			878			847			817			779			862			779			(83		)	(10	)%	(83		)	(10	)%	(38		)	(5	)%
Annuities	2,128			2,100			2,005			1,961			2,228			2,128			2,228			100			5	%	100			5	%	267			14	%
Protection	2,308			2,318			2,358			2,366			2,470			2,308			2,470			162			7	%	162			7	%	104			4	%
Corporate & Other	1,767			1,751			1,730			1,730			1,224			1,767			1,224			(543		)	(31	)%	(543		)	(31	)%	(506		)	(29	)%
Total allocated equity	$	8,007		$	7,977		$	7,868		$	7,836		$	7,690		$	8,007		$	7,690		$	(317	)	(4	)%	$	(317	)	(4	)%	$	(146	)	(2	)%
Pretax Return on Allocated Equity
Advice & Wealth Management	30.1		%	30.0		%	31.1		%	25.8		%	7.6		%	30.1		%	7.6		%	(22.5		)%			(22.5		)%			(18.2		)%
Asset Management	31.9		%	35.4		%	32.3		%	28.1		%	21.9		%	31.9		%	21.9		%	(10.0		)%			(10.0		)%			(6.2		)%
Annuities	19.2		%	19.1		%	16.3		%	16.3		%	10.2		%	19.2		%	10.2		%	(9.0		)%			(9.0		)%			(6.1		)%
Protection	20.2		%	21.8		%	20.7		%	20.1		%	20.0		%	20.2		%	20.0		%	(0.2		)%			(0.2		)%			(0.1		)%

# Variance of 100% or greater.

5

Ameriprise Financial, Inc.

Consolidated Income Statements

Third Quarter 2008

																	Prior Year Comparisons
												Year-to-Date					Qtr Chg - 3Q				YTD Chg - 3Q				Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007		4 Qtr 2007		1 Qtr 2008		2 Qtr 2008		3 Qtr 2008			2007		2008			Diff.			%	Diff.			%	Diff.			%
Revenues
Management and financial advice fees	$	798	$	930	$	791	$	780	$	721		$	2,308	$	2,292		$	(77	)	(10)%	$	(16	)	(1)%	$	(59	)	(8)%
Distribution fees	435		415		433		422		376			1,347		1,231			(59		)	(14)%	(116		)	(9)%	(46		)	(11)%
Net investment income	501		475		401		393		62			1,543		856			(439		)	(88)%	(687		)	(45)%	(331		)	(84)%
Premiums	269		271		265		268		276			792		809			7			3%	17			2%	8			3%
Other revenues	165		228		157		158		249			496		564			84			51%	68			14%	91			58%
Total revenues	2,168		2,319		2,047		2,021		1,684			6,486		5,752			(484		)	(22)%	(734		)	(11)%	(337		)	(17)%
Banking and deposit interest expense	57		59		47		42		43			190		132			(14		)	(25)%	(58		)	(31)%	1			2%
Total net revenues	2,111		2,260		2,000		1,979		1,641			6,296		5,620			(470		)	(22)%	(676		)	(11)%	(338		)	(17)%
Expenses
Distribution expenses	519		527		541		517		473			1,530		1,531			(46		)	(9)%	1			0	(44		)	(9)%
Interest credited to fixed accounts	212		202		195		192		200			645		587			(12		)	(6)%	(58		)	(9)%	8			4%
Benefits, claims, losses and settlement expenses	360		276		304		294		196			903		794			(164		)	(46)%	(109		)	(12)%	(98		)	(33)%
Amortization of deferred acquisition costs	128		164		154		144		240			387		538			112			88%	151			39%	96			67%
Interest and debt expense	27		27		26		28		27			85		81			—			0%	(4		)	(5)%	(1		)	(4)%
Separation costs	60		28		—		—		—			208		—			(60		)	#	(208		)	#	—			—
General and administrative expense	588		698		585		567		667			1,860		1,819			79			13%	(41		)	(2)%	100			18
Total expenses	1,894		1,922		1,805		1,742		1,803			5,618		5,350			(91		)	(5)%	(268		)	(5)%	61			4
Pretax income (loss)	217		338		195		237		(162		)	678		270			(379		)	#	(408		)	(60)%	(399		)	#
Income tax provision (benefit)	19		83		4		27		(92		)	119		(61		)	(111		)	#	(180		)	#	(119		)	#
Net income (loss)	$	198	$	255	$	191	$	210	$	(70	)	$	559	$	331		$	(268	)	#	$	(228	)	(41)%	$	(280	)	#
Adjusted Earnings (Loss) Reconciliation (1)
Net income (loss)	$	198	$	255	$	191	$	210	$	(70	)	$	559	$	331		$	(268	)	#	$	(228	)	(41)%	$	(280	)	#
Separation costs, after-tax (2)	39		19		—		—		—			135		—			(39		)	#	(135		)	#	—			—
Adjusted earnings (loss)	$	237	$	274	$	191	$	210	$	(70	)	$	694	$	331		$	(307	)	#	$	(363	)	(52)%	$	(280	)	#

(1)	See non-GAAP Financial Information.
(2)	For this non-GAAP presentation, after-tax separation costs are calculated using the statutory tax rate of 35%
#	Variance of 100% or greater.

6

Ameriprise Financial, Inc.

Consolidated Income Statements

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Income Statement Metrics
Pretax income margin	10.3		%	15.0		%	9.8		%	12.0		%	(9.9		)%	10.8		%	4.8		%	(20.2		)%			(6.0		)%			(21.9		)%
Net income margin	9.4		%	11.3		%	9.6		%	10.6		%	(4.3		)%	8.9		%	5.9		%	(13.7		)%			(3.0		)%			(14.9		)%
Adjusted pretax margin (1)	13.1		%	16.2		%	9.8		%	12.0		%	(9.9		)%	14.1		%	4.8		%	(23.0		)%			(9.3		)%			(21.9		)%
Adjusted earnings margin (1)	11.2		%	12.1		%	9.6		%	10.6		%	(4.3		)%	11.0		%	5.9		%	(15.5		)%			(5.1		)%			(14.9		)%
Net Investment Income
Investment income on fixed maturities	$	444		$	441		$	418		$	401		$	398		$	1,389		$	1,217		$	(46	)	(10	)%	$	(172	)	(12	)%	$	(3	)	(1	)%
Realized gains (losses)	15			18			(24		)	(27		)	(317		)	26			(368		)	(332		)	#		(394		)	#		(290		)	#
Affordable housing amortization	(7		)	(8		)	(7		)	(8		)	(7		)	(24		)	(22		)	—			0	%	2			8	%	1			13	%
Other (including seed money)	49			24			14			27			(12		)	152			29			(61		)	#		(123		)	(81	)%	(39		)	#
Total net investment income	$	501		$	475		$	401		$	393		$	62		$	1,543		$	856		$	(439	)	(88	)%	$	(687	)	(45	)%	$	(331	)	(84	)%
Other Information
Net revenue growth: Target 6 - 8%	9.5		%	5.9		%	(1.6		)%	(8.1		)%	(22.3		)%	6.9		%	(10.7		)%	(31.8		)%			(17.6		)%			(14.2		)%
Adjusted return on equity: Target 12 - 15% (1)	12.4		%	12.6		%	12.2		%	12.0		%	8.1		%	12.4		%	8.1		%	(4.3		)%			(4.3		)%			(3.9		)%
Adjusted earnings per diluted share growth:Target 12 - 15%(1)	5.3		%	13.7		%	(8.9		)%	(5.1		)%	(132.3		)%	16.2		%	(49.1		)%	(137.6		)%			(65.3		)%			(127.2		)%
Goodwill and intangible assets	$	878		$	863		$	857		$	853		$	783		$	878		$	783		$	(95	)	(11	)%	$	(95	)	(11	)%	$	(70	)	(8	)%
Dividends paid	35			35			34			34			37			98			105			2			6	%	7			7	%	3			9	%
Common stock share repurchases	$	171		$	283		$	270		$	250		$	94		$	665		$	614		$	(77	)	(45	)%	$	(51	)	(8	)%	$	(156	)	(62	)%
Return on equity	9.4		%	10.5		%	10.9		%	11.2		%	7.9		%	9.4		%	7.9		%	(1.5		)%			(1.5		)%			(3.3		)%
Owned, Managed and Administered Assets (in billions)
Owned	$	39.6		$	39.6		$	36.8		$	36.9		$	34.5		$	39.6		$	34.5		$	(5.1	)	(13	)%	$	(5.1	)	(13	)%	$	(2.4	)	(7	)%
Managed
External clients	315.4			307.0			287.2			283.0			243.1			315.4			243.1			(72.3		)	(23	)%	(72.3		)	(23	)%	(39.9		)	(14	)%
Owned	63.4			62.6			60.9			59.9			57.2			63.4			57.2			(6.2		)	(10	)%	(6.2		)	(10	)%	(2.7		)	(5	)%
Total managed	378.8			369.6			348.1			342.9			300.3			378.8			300.3			(78.5		)	(21	)%	(78.5		)	(21	)%	(42.6		)	(12	)%
Administered	73.5			71.0			65.8			65.6			60.7			73.5			60.7			(12.8		)	(17	)%	(12.8		)	(17	)%	(4.9		)	(7	)%
Total OMA assets	$	491.9		$	480.2		$	450.7		$	445.4		$	395.5		$	491.9		$	395.5		$	(96.4	)	(20	)%	$	(96.4	)	(20	)%	$	(49.9	)	(11	)%

(1)	See non-GAAP Financial Information.
#	Variance of 100% or greater.

7

Ameriprise Financial, Inc.

Consolidated, Common Share and Per Share Summary

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions, except earnings per share amounts)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Earnings Per Share
Basic earnings (loss) per share	$	0.84		$	1.10		$	0.84		$	0.94		$	(0.32	)	$	2.35		$	1.48		$	(1.16	)	#		$	(0.87	)	(37	)%	$	(1.26	)	#
Earnings (loss) per diluted share
Earnings (loss) per diluted share (2)	$	0.83		$	1.08		$	0.82		$	0.93		$	(0.32	)	$	2.32		$	1.46		$	(1.15	)	#		$	(0.86	)	(37	)%	$	(1.25	)	#
Separation costs, after-tax	0.16			0.08			—			—			—			0.55			—			(0.16		)	#		(0.55		)	#		—			—
Adjusted earnings (loss) per diluted share (1)	$	0.99		$	1.16		$	0.82		$	0.93		$	(0.32	)	$	2.87		$	1.46		$	(1.31	)	#		$	(1.41	)	(49	)%	$	(1.25	)	#
Basic Shares
Common shares
Beginning balance	235.3			232.4			227.7			223.4			218.9			241.4			227.7			(16.4		)	(7	)%	(13.7		)	(6	)%	(4.5		)	(2	)%
Repurchases	(2.9		)	(4.8		)	(5.2		)	(5.2		)	(2.3		)	(11.1		)	(12.7		)	0.6			21	%	(1.6		)	(14	)%	2.9			56	%
Issuances	0.1			0.2			1.3			0.8			0.1			2.8			2.2			—			—		(0.6		)	(21	)%	(0.7		)	(88	)%
Other	(0.1		)	(0.1		)	(0.4		)	(0.1		)	(0.1		)	(0.7		)	(0.6		)	—			—		0.1			14	%	—			—
Total common outstanding	232.4			227.7			223.4			218.9			216.6			232.4			216.6			(15.8		)	(7	)%	(15.8		)	(7	)%	(2.3		)	(1	)%
Total common outstanding	232.4			227.7			223.4			218.9			216.6			232.4			216.6			(15.8		)	(7	)%	(15.8		)	(7	)%	(2.3		)	(1	)%
Nonforfeitable restricted stock units	1.3			1.4			2.6			2.0			2.0			1.3			2.0			0.7			54	%	0.7			54	%	—			—
Total basic common shares	233.7			229.1			226.0			220.9			218.6			233.7			218.6			(15.1		)	(6	)%	(15.1		)	(6	)%	(2.3		)	(1	)%
Total potentially dilutive	3.9			3.9			2.8			2.7			2.9			3.9			2.9			(1.0		)	(26	)%	(1.0		)	(26	)%	0.2			7	%
Total diluted shares	237.6			233.0			228.8			223.6			221.5			237.6			221.5			(16.1		)	(7	)%	(16.1		)	(7	)%	(2.1		)	(1	)%
Weighted average common shares outstanding:
Basic	235.4			231.4			228.4			223.2			219.1			237.8			223.6			(16.3		)	(7	)%	(14.2		)	(6	)%	(4.1		)	(2	)%
Diluted	239.2			235.4			231.5			226.0			221.7			241.4			226.4			(17.5		)	(7	)%	(15.0		)	(6	)%	(4.3		)	(2	)%
Book Value
Equity - end of period	$	7,758		$	7,810		$	7,581		$	7,314		$	6,717		$	7,758		$	6,717		$	(1,041	)	(13	)%	$	(1,041	)	(13	)%	$	(597	)	(8	)%
Average equity - 5 point	7,753			7,765			7,696			7,613			7,436			7,753			7,436			(317		)	(4	)%	(317		)	(4	)%	(177		)	(2	)%
Book Value per Share	$	33.20		$	34.09		$	33.54		$	33.11		$	30.73		$	33.20		$	30.73		$	(2.47	)	(7	)%	$	(2.47	)	(7	)%	$	(2.38	)	(7	)%

(1)    See non-GAAP Financial Information.

(2)    For Q3 2008 diluted shares used in this calculation represent basic shares due to the net loss. Using actual diluted shares would result in anti-dilution.

# Variance of 100% or greater.

8

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Advice & Wealth Management Segment

9

Ameriprise Financial, Inc.

Advice & Wealth Management Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions, except headcount and where noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Revenues
Management and financial advice fees	$	348		$	369		$	367		$	352		$	328		$	981		$	1,047		$	(20	)	(6	)%	$	66		7	%	$	(24	)	(7	)%
Distribution fees	541			517			517			508			457			1,701			1,482			(84		)	(16	)%	(219		)	(13	)%	(51		)	(10	)%
Net investment income	96			94			79			54			(46		)	305			87			(142		)	#		(218		)	(71	)%	(100		)	#
Premiums	—			—			—			—			—			—			—			—			—		—			—		—			—
Other revenues	21			21			20			19			16			55			55			(5		)	(24	)%	—			—		(3		)	(16	)%
Total revenues	1,006			1,001			983			933			755			3,042			2,671			(251		)	(25	)%	(371		)	(12	)%	(178		)	(19	)%
Banking and deposit interest expense	53			54			47			42			43			176			132			(10		)	(19	)%	(44		)	(25	)%	1			2	%
Total net revenues	953			947			936			891			712			2,866			2,539			(241		)	(25	)%	(327		)	(11	)%	(179		)	(20	)%
Expenses
Distribution expenses	585			587			585			564			515			1,762			1,664			(70		)	(12	)%	(98		)	(6	)%	(49		)	(9	)%
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—			—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization of deferred acquisition costs	—			—			—			—			—			—			—			—			—		—			—		—			—
Interest and debt expense	—			—			—			—			—			—			—			—			—		—			—		—			—
General and administrative expense	274			326			287			276			274			853			837			—			—		(16		)	(2	)%	(2		)	(1	)%
Total expenses	859			913			872			840			789			2,615			2,501			(70		)	(8	)%	(114		)	(4	)%	(51		)	(6	)%
Pretax income (loss)	$	94		$	34		$	64		$	51		$	(77	)	$	251		$	38		$	(171	)	#		$	(213	)	(85	)%	$	(128	)	#
Income Statement Metrics
Pretax income margin	9.9		%	3.6		%	6.8		%	5.7		%	(10.8		)%	8.8		%	1.5		%	(20.7		)%			(7.3		)%			(16.5		)%
Net Investment Income
Investment income on fixed maturities	$	64		$	67		$	62		$	59		$	64		$	207		$	185		$	—		—		$	(22	)	(11	)%	$	5		8	%
Realized gains (losses)	—			—			—			(21		)	(118		)	(1		)	(139		)	(118		)	—		(138		)	#		(97		)	#
Other (including seed money)	32			27			17			16			8			99			41			(24		)	(75	)%	(58		)	(59	)%	(8		)	(50	)%
Total net investment income	$	96		$	94		$	79		$	54		$	(46	)	$	305		$	87		$	(142	)	#		$	(218	)	(71	)%	$	(100	)	#
Balance Sheet Metrics
Allocated equity	$	942		$	930		$	928		$	962		$	989		$	942		$	989		$	47		5	%	$	47		5	%	$	27		3	%
Pretax return on allocated equity	30.1		%	30.0		%	31.1		%	25.8		%	7.6		%	30.1		%	7.6		%	(22.5		)%			(22.5		)%			(18.2		)%
On-balance sheet deposits	$	5,887		$	6,011		$	6,183		$	6,269		$	7,681		$	5,887		$	7,681		$	1,794		30	%	$	1,794		30	%	$	1,412		23	%
Financial Plans
Branded financial plan net cash sales	$	44		$	53		$	53		$	54		$	48		$	149		$	155		$	4		9	%	$	6		4	%	$	(6	)	(11	)%
Financial planning penetration	45		%	45		%	46		%	46		%	46		%	45		%	46		%	1		%			1		%			0		%

# Variance of 100% or greater.

10

Ameriprise Financial, Inc.

Advice & Wealth Management Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions, except headcount and where noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Financial Advisors
Employee advisors	2,541			2,453			2,193			2,056			1,967			2,541			1,967			(574		)	(23	)%	(574		)	(23	)%	(89		)	(4	)%
Franchisee advisors	7,712			7,757			7,809			7,846			7,830			7,712			7,830			118			2	%	118			2	%	(16		)	—
Total branded financial advisors	10,253			10,210			10,002			9,902			9,797			10,253			9,797			(456		)	(4	)%	(456		)	(4	)%	(105		)	(1	)%
SAI independent advisors	1,750			1,614			1,607			1,619			1,636			1,750			1,636			(114		)	(7	)%	(114		)	(7	)%	17			1	%
Total financial advisors	12,003			11,824			11,609			11,521			11,433			12,003			11,433			(570		)	(5	)%	(570		)	(5	)%	(88		)	(1	)%
Net revenue per financial advisor (in thousands) (1)	$	79		$	80		$	81		$	77		$	62		$	235		$	220		$	(17	)	(22	)%	$	(15	)	(6	)%	$	(15	)	(19	)%
Advisor Retention
Employee	61.0		%	58.9		%	59.1		%	59.6		%	60.6		%	61.0		%	60.6		%	(0.4		)%			(0.4		)%			1.0		%
Franchisee	93.3		%	93.2		%	93.7		%	93.7		%	93.3		%	93.3		%	93.3		%	—					—					(0.4		)%
Product Information
Certificates and Banking - Combined
Pretax income (loss)	$	3		$	(8	)	$	(5	)	$	(24	)	$	(112	)	$	3		$	(141	)	$	(115	)	#		$	(144	)	#		$	(88	)	#
Allocated equity	$	375		$	367		$	376		$	393		$	416		$	375		$	416		$	41		11	%	$	41		11	%	$	23		6	%
Pretax return on allocated equity	0.5		%	(1.3		)%	(3.1		)%	(8.9		)%	(38.7		)%	0.5		%	(38.7		)%	(39.2		)%			(39.2		)%			(29.8		)%
Wealth Management & Distribution
Pretax income	$	91		$	42		$	69		$	75		$	35		$	248		$	179		$	(56	)	(62	)%	$	(69	)	(28	)%	$	(40	)	(53	)%
Allocated equity	$	567		$	563		$	552		$	569		$	573		$	567		$	573		$	6		1	%	$	6		1	%	$	4		1	%
Pretax return on allocated equity	51.8		%	52.0		%	54.6		%	49.2		%	39.1		%	51.8		%	39.1		%	(12.7		)%			(12.7		)%			(10.1		)%
Advisor Cash Sales by Product
Wrap net flows	$	2,697		$	1,802		$	1,380		$	2,833		$	657		$	9,863		$	4,870		$	(2,040	)	(76	)%	$	(4,993	)	(51	)%	$	(2,176	)	(77	)%
Total mutual funds (non-wrap)	3,939			3,884			4,119			3,470			2,907			12,843			10,496			(1,032		)	(26	)%	(2,347		)	(18	)%	(563		)	(16	)%
Annuities (proprietary and non-proprietary)
Variable	2,688			2,498			2,186			2,179			1,876			8,451			6,241			(812		)	(30	)%	(2,210		)	(26	)%	(303		)	(14	)%
Fixed	107			109			100			215			347			317			662			240			#		345			#		132			61	%
Investment certificates	174			181			322			593			872			630			1,787			698			#		1,157			#		279			47	%
Insurance (proprietary and non-proprietary)	124			122			102			97			85			380			284			(39		)	(31	)%	(96		)	(25	)%	(12		)	(12	)%
Other	613			515			636			805			658			2,372			2,099			45			7	%	(273		)	(12	)%	(147		)	(18	)%
Total advisor cash sales	$	10,342		$	9,111		$	8,845		$	10,192		$	7,402		$	34,856		$	26,439		$	(2,940	)	(28	)%	$	(8,417	)	(24	)%	$	(2,790	)	(27	)%
Total Client Assets (at period end)	$	297,856		$	293,899		$	275,958		$	275,473		$	253,431		$	297,856		$	253,431		$	(44,425	)	(15	)%	$	(44,425	)	(15	)%	$	(22,042	)	(8	)%
Total Wrap Accounts
Beginning assets	$	89,150		$	92,944		$	93,851		$	89,603		$	91,446		$	76,365		$	93,851		$	2,296		3	%	$	17,486		23	%	$	1,843		2	%
Net flows	2,697			1,802			1,380			2,833			657			9,863			4,870			(2,040		)	(76	)%	(4,993		)	(51	)%	(2,176		)	(77	)%
Market appreciation (depreciation) and other	1,097			(895		)	(5,628		)	(990		)	(8,017		)	6,716			(14,635		)	(9,114		)	#		(21,351		)	#		(7,027		)	#
Total wrap ending assets	$	92,944		$	93,851		$	89,603		$	91,446		$	84,086		$	92,944		$	84,086		$	(8,858	)	(10	)%	$	(8,858	)	(10	)%	$	(7,360	)	(8	)%
S&P 500
Daily average	1,489			1,494			1,349			1,371			1,255			1,470			1,325			(234		)	(16	)%	(145		)	(10	)%	(116		)	(8	)%
Period end	1,527			1,468			1,323			1,280			1,166			1,527			1,166			(361		)	(24	)%	(361		)	(24	)%	(114		)	(9	)%

⁽¹⁾ Year-to-date is sum of current year prior quarters.

# Variance of 100% or greater.

11

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Asset Management Segment

12

Ameriprise Financial, Inc.

Asset Management Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Revenues
Management and financial advice fees	$	316		$	419		$	296		$	295		$	268		$	943		$	859		$	(48	)	(15	)%	$	(84	)	(9	)%	$	(27	)	(9	)%
Distribution fees	78			78			70			70			58			244			198			(20		)	(26	)%	(46		)	(19	)%	(12		)	(17	)%
Net investment income	5			4			(4		)	7			(9		)	44			(6		)	(14		)	#		(50		)	#		(16		)	#
Premiums	—			—			—			—			—			—			—			—			—		—			—		—			—
Other revenues	14			(2		)	(5		)	(7		)	(10		)	52			(22		)	(24		)	#		(74		)	#		(3		)	(43	)%
Total revenues	413			499			357			365			307			1,283			1,029			(106		)	(26	)%	(254		)	(20	)%	(58		)	(16	)%
Banking and deposit interest expense	3			7			2			1			2			13			5			(1		)	(33	)%	(8		)	(62	)%	1			#
Total net revenues	410			492			355			364			305			1,270			1,024			(105		)	(26	)%	(246		)	(19	)%	(59		)	(16	)%
Expenses
Distribution expenses	117			118			118			111			101			346			330			(16		)	(14	)%	(16		)	(5	)%	(10		)	(9	)%
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—			—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization of deferred acquisition costs	7			7			8			5			6			26			19			(1		)	(14	)%	(7		)	(27	)%	1			20	%
Interest and debt expense	—			—			—			—			—			—			—			—			—		—			—		—			—
General and administrative expense	214			259			211			206			183			699			600			(31		)	(14	)%	(99		)	(14	)%	(23		)	(11	)%
Total expenses	338			384			337			322			290			1,071			949			(48		)	(14	)%	(122		)	(11	)%	(32		)	(10	)%
Pretax income	$	72		$	108		$	18		$	42		$	15		$	199		$	75		$	(57	)	(79	)%	$	(124	)	(62	)%	$	(27	)	(64	)%
Income Statement Metrics
Pretax income margin	17.6		%	22.0		%	5.1		%	11.5		%	4.9		%	15.7		%	7.3		%	(12.7		)%			(8.4		)%			(6.6		)%
Balance Sheet Metrics
Allocated equity	$	862		$	878		$	847		$	817		$	779		$	862		$	779		$	(83	)	(10	)%	$	(83	)	(10	)%	$	(38	)	(5	)%
Pretax return on allocated equity	31.9		%	35.4		%	32.3		%	28.1		%	21.9		%	31.9		%	21.9		%	(10.0		)%			(10.0		)%			(6.2		)%
Total Managed Assets Reconciliations
RiverSource managed assets	$	161,811		$	157,865		$	148,637		$	144,951		$	130,745		$	161,811		$	130,745		$	(31,066	)	(19	)%	$	(31,066	)	(19	)%	$	(14,206	)	(10	)%
Threadneedle managed assets	139,804			134,358			124,267			120,906			97,882			139,804			97,882			(41,922		)	(30	)%	(41,922		)	(30	)%	(23,024		)	(19	)%
Less: RiverSource assets sub-advised by Threadneedle	(5,614		)	(5,577		)	(4,912		)	(4,925		)	(3,203		)	(5,614		)	(3,203		)	2,411			43	%	2,411			43	%	1,722			35	%
Total managed assets	$	296,001		$	286,646		$	267,992		$	260,932		$	225,424		$	296,001		$	225,424		$	(70,577	)	(24	)%	$	(70,577	)	(24	)%	$	(35,508	)	(14	)%
Managed assets - external clients	$	232,634		$	224,070		$	207,119		$	201,021		$	168,232		$	232,634		$	168,232		$	(64,402	)	(28	)%	$	(64,402	)	(28	)%	$	(32,789	)	(16	)%
Managed assets - owned	63,367			62,576			60,873			59,911			57,192			63,367			57,192			(6,175		)	(10	)%	(6,175		)	(10	)%	(2,719		)	(5	)%
Total managed assets	$	296,001		$	286,646		$	267,992		$	260,932		$	225,424		$	296,001		$	225,424		$	(70,577	)	(24	)%	$	(70,577	)	(24	)%	$	(35,508	)	(14	)%
Total Managed Assets by Type
Equity	$	133,292		$	126,985		$	109,936		$	105,586		$	84,315		$	133,292		$	84,315		$	(48,977	)	(37	)%	$	(48,977	)	(37	)%	$	(21,271	)	(20	)%
Fixed income	117,170			117,280			117,377			114,666			106,123			117,170			106,123			(11,047		)	(9	)%	(11,047		)	(9	)%	(8,543		)	(7	)%
Money market	14,134			13,112			13,147			13,866			11,888			14,134			11,888			(2,246		)	(16	)%	(2,246		)	(16	)%	(1,978		)	(14	)%
Alternative	11,484			11,624			11,000			10,322			8,440			11,484			8,440			(3,044		)	(27	)%	(3,044		)	(27	)%	(1,882		)	(18	)%
Hybrid and other	19,921			17,645			16,532			16,492			14,658			19,921			14,658			(5,263		)	(26	)%	(5,263		)	(26	)%	(1,834		)	(11	)%
Total managed assets by type	$	296,001		$	286,646		$	267,992		$	260,932		$	225,424		$	296,001		$	225,424		$	(70,577	)	(24	)%	$	(70,577	)	(24	)%	$	(35,508	)	(14	)%

# Variance of 100% or greater.

13

Ameriprise Financial, Inc.

Asset Management Segment

Third Quarter 2008

	3 Qtr 2007		4 Qtr 2007		1 Qtr 2008		2 Qtr 2008		3 Qtr 2008
Mutual Fund Performance
RiverSource
Equal Weighted Mutual Fund Rankings in top 2 Lipper Quartiles
Equity - 12 month	65	%	45	%	41	%	34	%	29	%
Fixed income - 12 month	83	%	42	%	30	%	24	%	48	%
Equity - 3 year	73	%	69	%	73	%	73	%	54	%
Fixed income - 3 year	39	%	50	%	50	%	71	%	50	%
Equity - 5 year	44	%	40	%	44	%	47	%	58	%
Fixed income - 5 year	29	%	36	%	27	%	46	%	54	%
Asset Weighted Mutual Fund Rankings in top 2 Lipper Quartiles
Equity - 12 month	67	%	57	%	53	%	29	%	16	%
Fixed income - 12 month	93	%	30	%	9	%	20	%	33	%
Equity - 3 year	93	%	68	%	70	%	72	%	33	%
Fixed income - 3 year	46	%	54	%	60	%	61	%	51	%
Equity - 5 year	57	%	58	%	57	%	60	%	68	%
Fixed income - 5 year	44	%	45	%	17	%	46	%	48	%
Threadneedle
Equal Weighted Mutual Fund Rankings in top 2 S&P Quartiles
Equity - 12 month	77	%	80	%	90	%	90	%	76	%
Fixed income - 12 month	22	%	22	%	55	%	60	%	64	%
Equity - 3 year	76	%	83	%	86	%	86	%	79	%
Fixed income - 3 year	22	%	22	%	60	%	60	%	80	%
Equity - 5 year	46	%	58	%	64	%	69	%	70	%
Fixed income - 5 year	33	%	22	%	40	%	40	%	40	%

Equal Weighted Rankings in Top 2 Quartiles: Counts the number of Class A funds with above median ranking divided by the total number of Class A funds. Asset size is not a factor.

Asset Weighted Rankings in Top 2 Quartiles: Sums the assets of the Class A funds with above median ranking divided by the total Class A fund assets. Funds with more assets will receive a greater share of the total percentage above or below median.

Aggregated data shows only actively-managed mutual funds by affiliated investment managers.

Aggregated data does not include mutual funds sub-advised by advisors not affiliated with Ameriprise Financial, Inc., RiverSource S&P 500 Index Fund, RiverSource Cash Management Fund and RiverSource Tax Free Money Market Fund.

Aggregated equity rankings include RiverSource Portfolio Builder Series and other balanced and asset allocation funds that invest in both equities and fixed income.

RiverSource Portfolio Builder Series funds are funds of mutual funds that may invest in third-party sub-advised funds.

Aggregated data only includes mutual funds in existence as of current quarter end. Refer to Exhibit A for RiverSource individual mutual fund performance rankings and other important disclosures.

Exhibit A includes RiverSource performance rankings for funds sub-advised by non-affiliated advisors for general reference although not included in the summary above.

14

Ameriprise Financial, Inc.

Asset Management Segment - RiverSource

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
RiverSource - Funds
Beginning assets	$	86,988		$	88,575		$	86,864		$	80,232		$	78,281		$	81,691		$	86,864		$	(8,707	)	(10	)%	$	5,173		6	%	$	(1,951	)	(2	)%
Net flows	399			225			(636		)	(1,169		)	(1,415		)	284			(3,220		)	(1,814		)	#		(3,504		)	#		(246		)	(21	)%
Market appreciation (depreciation) and other	1,188			(1,936		)	(5,996		)	(782		)	(6,652		)	6,600			(13,430		)	(7,840		)	#		(20,030		)	#		(5,870		)	#
Total ending assets	88,575			86,864			80,232			78,281			70,214			88,575			70,214			(18,361		)	(21	)%	(18,361		)	(21	)%	(8,067		)	(10	)%
Institutional
Beginning assets	55,827			56,007			54,821			52,547			51,190			59,131			54,821			(4,637		)	(8	)%	(4,310		)	(7	)%	(1,357		)	(3	)%
Net flows	(358		)	(1,403		)	(1,677		)	(754		)	(3,849		)	(3,517		)	(6,280		)	(3,491		)	#		(2,763		)	(79	)%	(3,095		)	#
Market appreciation (depreciation) and other	538			217			(597		)	(603		)	(2,207		)	393			(3,407		)	(2,745		)	#		(3,800		)	#		(1,604		)	#
Total ending assets	56,007			54,821			52,547			51,190			45,134			56,007			45,134			(10,873		)	(19	)%	(10,873		)	(19	)%	(6,056		)	(12	)%
Alternative
Beginning assets	8,185			8,605			8,085			7,293			7,194			7,777			8,085			(991		)	(12	)%	308			4%		(99		)	(1	)%
Net flows	426			(516		)	(483		)	(101		)	(127		)	833			(711		)	(553		)	#		(1,544		)	#		(26		)	(26	)%
Market appreciation (depreciation) and other	(6		)	(4		)	(309		)	2			(2		)	(5		)	(309		)	4			67	%	(304		)	#		(4		)	#
Total ending assets	8,605			8,085			7,293			7,194			7,065			8,605			7,065			(1,540		)	(18	)%	(1,540		)	(18	)%	(129		)	(2	)%
Trust
Beginning assets	9,632			9,342			8,804			8,911			8,530			10,219			8,804			(1,102		)	(11	)%	(1,415		)	(14	)%	(381		)	(4	)%
Net flows	(415		)	(542		)	204			(436		)	59			(1,341		)	(173		)	474			#		1,168			87	%	495			#
Market appreciation (depreciation) and other	125			4			(97		)	55			(42		)	464			(84		)	(167		)	#		(548		)	#		(97		)	#
Total ending assets	9,342			8,804			8,911			8,530			8,547			9,342			8,547			(795		)	(9	)%	(795		)	(9	)%	17			—
Other and Eliminations	(718		)	(709		)	(346		)	(244		)	(215		)	(718		)	(215		)	503			70	%	503			70	%	29			12	%
Total RiverSource managed assets	$	161,811		$	157,865		$	148,637		$	144,951		$	130,745		$	161,811		$	130,745		$	(31,066	)	(19	)%	$	(31,066	)	(19	)%	$	(14,206	)	(10	)%
Total Net Flows - RiverSource	$	52		$	(2,236	)	$	(2,592	)	$	(2,460	)	$	(5,332	)	$	(3,741	)	$	(10,384	)	$	(5,384	)	#		$	(6,643	)	#		$	(2,872	)	#

# Variance of 100% or greater.

15

Ameriprise Financial, Inc.

Asset Management Segment - Threadneedle

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Threadneedle Managed Assets Rollforward
Threadneedle Retail Funds
Beginning assets	$	30,494		$	31,540		$	30,822		$	28,154		$	27,868		$	28,112		$	30,822		$	(2,626	)	(9	)%	$	2,710		10	%	$	(286	)	(1	)%
Net flows	98			(211		)	(253		)	72			(1,032		)	32			(1,213		)	(1,130		)	#		(1,245		)	#		(1,104		)	#
Market appreciation (depreciation)	287			379			(2,489		)	(483		)	(2,345		)	1,815			(5,317		)	(2,632		)	#		(7,132		)	#		(1,862		)	#
Foreign currency translation (1)	573			(964		)	(16		)	104			(2,832		)	1,314			(2,744		)	(3,405		)	#		(4,058		)	#		(2,936		)	#
Other	88			78			90			21			99			267			210			11			13	%	(57		)	(21	)%	78			#
Total ending assets	31,540			30,822			28,154			27,868			21,758			31,540			21,758			(9,782		)	(31	)%	(9,782		)	(31	)%	(6,110		)	(22	)%
Institutional
Beginning assets	105,247			105,450			100,057			92,433			89,937			111,151			100,057			(15,310		)	(15	)%	(11,094		)	(10	)%	(2,496		)	(3	)%
Net flows	(3,313		)	(4,516		)	(2,560		)	(1,838		)	(1,580		)	(16,825		)	(5,978		)	1,733			52	%	10,847			64	%	258			14	%
Market appreciation (depreciation)	585			1,468			(5,744		)	(1,956		)	(4,825		)	3,359			(12,525		)	(5,410		)	#		(15,884		)	#		(2,869		)	#
Foreign currency translation (1)	1,987			(3,167		)	(53		)	331			(9,377		)	4,823			(9,099		)	(11,364		)	#		(13,922		)	#		(9,708		)	#
Other	944			822			733			967			701			2,942			2,401			(243		)	(26	)%	(541		)	(18	)%	(266		)	(28	)%
Total ending assets	105,450			100,057			92,433			89,937			74,856			105,450			74,856			(30,594		)	(29	)%	(30,594		)	(29	)%	(15,081		)	(17	)%
Alternative
Beginning assets	2,657			2,814			3,479			3,680			3,101			2,089			3,479			444			17	%	1,390			67	%	(579		)	(16	)%
Net flows	46			(2		)	265			(713		)	(1,546		)	437			(1,994		)	(1,592		)	#		(2,431		)	#		(833		)	#
Market appreciation (depreciation)	59			262			(71		)	117			(3		)	175			43			(62		)	#		(132		)	(75	)%	(120		)	#
Foreign currency translation (1)	52			(108		)	(3		)	11			(290		)	113			(282		)	(342		)	#		(395		)	#		(301		)	#
Other	—			513			10			6			6			—			22			6			—		22			—		—			—
Total ending assets	2,814			3,479			3,680			3,101			1,268			2,814			1,268			(1,546		)	(55	)%	(1,546		)	(55	)%	(1,833		)	(59	)%
Total Threadneedle managed assets	$	139,804		$	134,358		$	124,267		$	120,906		$	97,882		$	139,804		$	97,882		$	(41,922	)	(30	)%	$	(41,922	)	(30	)%	$	(23,024	)	(19	)%
Total Net Flows - Threadneedle	$	(3,169	)	$	(4,729	)	$	(2,548	)	$	(2,479	)	$	(4,158	)	$	(16,356	)	$	(9,185	)	$	(989	)	(31	)%	$	7,171		44	%	$	(1,679	)	(68	)%

⁽¹⁾  Amounts represent British Pound to US dollar conversion.

#   Variance of 100% or greater.

16

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Annuities Segment

17

Ameriprise Financial, Inc.

Annuities Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Revenues
Management and financial advice fees	$	130		$	138		$	126		$	130		$	124		$	372		$	380		$	(6	)	(5	)%	$	8		2	%	$	(6	)	(5	)%
Distribution fees	70			70			70			72			71			197			213			1			1	%	16			8	%	(1		)	(1	)%
Net investment income	311			274			237			237			86			922			560			(225		)	(72	)%	(362		)	(39	)%	(151		)	(64	)%
Premiums	24			25			18			21			21			70			60			(3		)	(13	)%	(10		)	(14	)%	—			—
Other revenues	25			73			27			34			34			65			95			9			36	%	30			46	%	—			—
Total revenues	560			580			478			494			336			1,626			1,308			(224		)	(40	)%	(318		)	(20	)%	(158		)	(32	)%
Banking and deposit interest expense	—			—			—			—			—			—			—			—			—		—			—		—			—
Total net revenues	560			580			478			494			336			1,626			1,308			(224		)	(40	)%	(318		)	(20	)%	(158		)	(32	)%
Expenses
Distribution expenses	50			48			45			47			50			146			142			—			—		(4		)	(3	)%	3			6	%
Interest credited to fixed accounts	175			167			160			156			163			539			479			(12		)	(7	)%	(60		)	(11	)%	7			4	%
Benefits, claims, losses and settlement expenses	135			80			78			69			9			249			156			(126		)	(93	)%	(93		)	(37	)%	(60		)	(87	)%
Amortization of deferred acquisition costs	53			100			94			91			96			218			281			43			81	%	63			29	%	5			5	%
Interest and debt expense	—			—			—			—			—			—			—			—			—		—			—		—			—
General and administrative expense	56			57			59			54			52			179			165			(4		)	(7	)%	(14		)	(8	)%	(2		)	(4	)%
Total expenses	469			452			436			417			370			1,331			1,223			(99		)	(21	)%	(108		)	(8	)%	(47		)	(11	)%
Pretax income (loss)	$	91		$	128		$	42		$	77		$	(34	)	$	295		$	85		$	(125	)	#		$	(210	)	(71	)%	$	(111	)	#
Income Statement Metrics
Pretax income margin	16.3		%	22.1		%	8.8		%	15.6		%	(10.1		)%	18.1		%	6.5		%	(26.4		)%			(11.6		)%			(25.7		)%
Net Investment Income
Investment income on fixed maturities	$	279		$	267		$	253		$	245		$	244		$	877		$	742		$	(35	)	(13	)%	$	(135	)	(15	)%	$	(1	)	—
Realized gains (losses)	12			15			(20		)	(5		)	(156		)	18			(181		)	(168		)	#		(199		)	#		(151		)	#
Other (including seed money)	20			(8		)	4			(3		)	(2		)	27			(1		)	(22		)	#		(28		)	#		1			33	%
Total net investment income	$	311		$	274		$	237		$	237		$	86		$	922		$	560		$	(225	)	(72	)%	$	(362	)	(39	)%	$	(151	)	(64	)%
Balance Sheet Metrics
Allocated equity	$	2,128		$	2,100		$	2,005		$	1,961		$	2,228		$	2,128		$	2,228		$	100		5	%	$	100		5	%	$	267		14	%
Pretax return on allocated equity	19.2		%	19.1		%	16.3		%	16.3		%	10.2		%	19.2		%	10.2		%	(9.0		)%			(9.0		)%			(6.1		)%
Other Metrics
Net variable annuity living benefits market impact (1)(2)(3)	$	(63	)	$	(1	)	$	(15	)	$	19		$	27		$	(38	)	$	31		$	90		#		$	69		#		$	8		42	%
Total annuity net flows	$	465		$	403		$	304		$	428		$	384		$	1,557		$	1,116		$	(81	)	(17	)%	$	(441	)	(28	)%	$	(44	)	(10	)%

⁽¹⁾Guaranteed Minimum Withdrawal Benefit (GMWB) and Guaranteed Minimum Accumulation Benefit (GMAB) only.

⁽²⁾Q3 2008 includes loss on derivatives related to Lehman Brothers bankruptcy, as disclosed on page 46.

⁽³⁾Q3 2007 restated to exclude unlocking impact and conform with current presentation.

^#Variance of 100% or greater.

18

Ameriprise Financial, Inc.

Annuities Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Product Information
Variable Annuities
Pretax income	$	35		$	52		$	20		$	57		$	82		$	133		$	159		$	47		#		$	26		20	%	$	25		44	%
Allocated equity	$	919		$	919		$	914		$	900		$	1,139		$	919		$	1,139		$	220		24	%	$	220		24	%	$	239		27	%
Pretax return on allocated equity	20.8		%	19.6		%	16.1		%	18.0		%	22.0		%	20.8		%	22.0		%	1.2		%			1.2		%			4.0		%
Fixed Annuities (1)
Pretax income (loss)	$	56		$	76		$	22		$	20		$	(116	)	$	162		$	(74	)	$	(172	)	#		$	(236	)	#		$	(136	)	#
Allocated equity	$	1,209		$	1,181		$	1,091		$	1,061		$	1,089		$	1,209		$	1,089		$	(120	)	(10	)%	$	(120	)	(10	)%	$	28		3	%
Pretax return on allocated equity	18.1		%	18.6		%	16.4		%	15.0		%	0.2		%	18.1		%	0.2		%	(17.9		)%			(17.9		)%			(14.8		)%
Variable Annuities Rollforward
Beginning balance	$	55,092		$	57,127		$	57,182		$	54,444		$	54,742		$	49,489		$	57,182		$	(350	)	(1	)%	$	7,693		16	%	$	298		1	%
Deposits	2,649			2,474			2,129			2,077			1,729			8,337			5,935			(920		)	(35	)%	(2,402		)	(29	)%	(348		)	(17	)%
Withdrawals and terminations	(1,458		)	(1,368		)	(1,278		)	(1,266		)	(1,161		)	(4,586		)	(3,705		)	297			20	%	881			19	%	105			8	%
Net flows	1,191			1,106			851			811			568			3,751			2,230			(623		)	(52	)%	(1,521		)	(41	)%	(243		)	(30	)%
Investment performance and interest credited	847			(1,043		)	(3,577		)	(531		)	(5,006		)	3,882			(9,114		)	(5,853		)	#		(12,996		)	#		(4,475		)	#
Other	(3		)	(8		)	(12		)	18			(4		)	5			2			(1		)	(33	)%	(3		)	(60	)%	(22		)	#
Total ending balance - contract accumulation values	$	57,127		$	57,182		$	54,444		$	54,742		$	50,300		$	57,127		$	50,300		$	(6,827	)	(12	)%	$	(6,827	)	(12	)%	$	(4,442	)	(8	)%
Variable annuities fixed sub-accounts	$	5,542		$	5,419		$	5,389		$	5,366		$	5,496		$	5,542		$	5,496		$	(46	)	(1	)%	$	(46	)	(1	)%	$	130		2	%
Fixed Annuities Rollforward
Beginning balance	$	13,652		$	13,046		$	12,463		$	12,020		$	11,759		$	14,884		$	12,463		$	(1,893	)	(14	)%	$	(2,421	)	(16	)%	$	(261	)	(2	)%
Deposits	81			76			79			208			378			241			665			297			#		424			#		170			82	%
Withdrawals and terminations	(807		)	(779		)	(626		)	(591		)	(562		)	(2,435		)	(1,779		)	245			30	%	656			27	%	29			5	%
Net flows	(726		)	(703		)	(547		)	(383		)	(184		)	(2,194		)	(1,114		)	542			75	%	1,080			49	%	199			52	%
Policyholder interest credited	120			108			92			102			103			391			297			(17		)	(14	)%	(94		)	(24	)%	1			1	%
Other	—			12			12			20			4			(35		)	36			4			—		71			#		(16		)	(80	)%
Total ending balance - contract accumulation values	$	13,046		$	12,463		$	12,020		$	11,759		$	11,682		$	13,046		$	11,682		$	(1,364	)	(10	)%	$	(1,364	)	(10	)%	$	(77	)	(1	)%
Capitalized Interest	$	2		$	1		$	2		$	2		$	2		$	6		$	6		$	—		—		$	—		—		$	—		—
Payout Annuities Reserve Balance	$	2,238		$	2,226		$	2,199		$	2,139		$	2,121		$	2,238		$	2,121		$	(117	)	(5	)%	$	(117	)	(5	)%	$	(18	)	(1	)%
Tax Equivalent Spread - Fixed Annuities (2)
Gross rate of return on invested assets	5.6		%	5.6		%	5.4		%	5.4		%	5.3		%	5.6		%	5.4		%	(0.3		)%			(0.2		)%			(0.1		)%
Crediting rate	(3.7		)%	(3.7		)%	(3.7		)%	(3.7		)%	(3.8		)%	(3.7		)%	(3.7		)%	(0.1		)%			—					(0.1		)%
Tax equivalent margin spread	1.9		%	1.9		%	1.7		%	1.7		%	1.5		%	1.9		%	1.7		%	(0.4		)%			(0.2		)%			(0.2		)%
Total Variable Annuities DAC
Beginning balance	$	1,988		$	2,067		$	2,086		$	2,145		$	2,186		$	2,004		$	2,086		$	198		10	%	$	82		4	%	$	41		2	%
Capitalization	113			111			103			97			83			358			283			(30		)	(27	)%	(75		)	(21	)%	(14		)	(14	)%
Amortization per income statement	(20		)	(80		)	(79		)	(77		)	(77		)	(144		)	(233		)	(57		)	#		(89		)	(62	)%	—			—
Cumulative effect of accounting change (3)	—			—			36			—			—			(146		)	36			—			—		182			#		—			—
Other (FAS 115)	(14		)	(12		)	(1		)	21			(16		)	(5		)	4			(2		)	(14	)%	9			#		(37		)	#
Total ending balance	$	2,067		$	2,086		$	2,145		$	2,186		$	2,176		$	2,067		$	2,176		$	109		5	%	$	109		5	%	$	(10	)	—
Total Fixed Annuities DAC
Beginning balance	$	309		$	272		$	250		$	238		$	247		$	343		$	250		$	(62	)	(20	)%	$	(93	)	(27	)%	$	9		4	%
Capitalization	2			2			2			8			16			5			26			14			#		21			#		8			#
Amortization per income statement	(33		)	(20		)	(15		)	(14		)	(19		)	(74		)	(48		)	14			42	%	26			35	%	(5		)	(36	)%
Cumulative effect of accounting change (3)	—			—			—			—			—			(7		)	—			—			—		7			#		—			—
Other (FAS 115)	(6		)	(4		)	1			15			(27		)	5			(11		)	(21		)	#		(16		)	#		(42		)	#
Total ending balance	$	272		$	250		$	238		$	247		$	217		$	272		$	217		$	(55	)	(20	)%	$	(55	)	(20	)%	$	(30	)	(12	)%

(1)	Includes payout annuities.
(2)	Attributable to interest sensitive products only, which have been 97% of the total ending fixed annuities accumulation values in the periods reported. The asset earnings rate is a calculated theoretical yield obtained from the assignment of investment income using the investment year method of allocation.
(3)	Reflects adoption of SOP O5-1 in Q1 2007 and FAS 157 in Q1 2008.
#	Variance of 100% or greater.

19

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Protection Segment

20

Ameriprise Financial, Inc.

Protection Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Revenues
Management and financial advice fees	$	17		$	18		$	15		$	16		$	14		$	50		$	45		$	(3	)	(18	)%	$	(5	)	(10	)%	$	(2	)	(13	)%
Distribution fees	25			26			27			25			26			76			78			1			4	%	2			3	%	1			4	%
Net investment income	93			92			83			85			42			269			210			(51		)	(55	)%	(59		)	(22	)%	(43		)	(51	)%
Premiums	253			255			254			255			263			747			772			10			4	%	25			3	%	8			3	%
Other revenues	107			133			113			110			209			320			432			102			95	%	112			35	%	99			90	%
Total revenues	495			524			492			491			554			1,462			1,537			59			12	%	75			5	%	63			13	%
Banking and deposit interest expense	—			—			—			1			—			1			1			—			—		—			—		(1		)	#
Total net revenues	495			524			492			490			554			1,461			1,536			59			12	%	75			5	%	64			13	%
Expenses
Distribution expenses	17			13			14			17			16			49			47			(1		)	(6	)%	(2		)	(4	)%	(1		)	(6	)%
Interest credited to fixed accounts	37			35			35			36			37			106			108			—			—		2			2	%	1			3	%
Benefits, claims, losses and settlement expenses	225			196			226			225			187			654			638			(38		)	(17	)%	(16		)	(2	)%	(38		)	(17	)%
Amortization of deferred acquisition costs	68			57			52			48			138			143			238			70			#		95			66	%	90			#
Interest and debt expense	—			—			—			—			—			—			—			—			—		—			—		—			—
General and administrative expense	55			69			63			51			72			178			186			17			31	%	8			4	%	21			41	%
Total expenses	402			370			390			377			450			1,130			1,217			48			12	%	87			8	%	73			19	%
Pretax income	$	93		$	154		$	102		$	113		$	104		$	331		$	319		$	11		12	%	$	(12	)	(4	)%	$	(9	)	(8	)%
Pretax Operating Earnings
Pretax income	$	93		$	154		$	102		$	113		$	104		$	331		$	319		$	11		12	%	$	(12	)	(4	)%	$	(9	)	(8	)%
Realized (gains) losses	(3		)	(3		)	3			1			44			(4		)	48			47			#		52			#		43			#
Total pretax operating earnings	$	90		$	151		$	105		$	114		$	148		$	327		$	367		$	58		64	%	$	40		12	%	$	34		30	%
Income Statement Metrics
Pretax income margin	18.8		%	29.4		%	20.7		%	23.1		%	18.8		%	22.7		%	20.8		%	—					(1.9		)%			(4.3		)%
Pretax operating earnings margin	18.2		%	28.8		%	21.3		%	23.3		%	26.7		%	22.4		%	23.9		%	8.5		%			1.5		%			3.4		%
Net Investment Income
Investment income on fixed maturities	$	81		$	82		$	79		$	76		$	77		$	243		$	232		$	(4	)	(5	)%	$	(11	)	(5	)%	$	1		1	%
Realized gains (losses)	3			3			(3		)	(1		)	(44		)	4			(48		)	(47		)	#		(52		)	#		(43		)	#
Other (including seed money)	9			7			7			10			9			22			26			—			—		4			18	%	(1		)	(10	)%
Total net investment income	$	93		$	92		$	83		$	85		$	42		$	269		$	210		$	(51	)	(55	)%	$	(59	)	(22	)%	$	(43	)	(51	)%
Balance Sheet Metrics
Allocated equity	$	2,308		$	2,318		$	2,358		$	2,366		$	2,470		$	2,308		$	2,470		$	162		7	%	$	162		7	%	$	104		4	%
Pretax return on allocated equity	20.2		%	21.8		%	20.7		%	20.1		%	20.0		%	20.2		%	20.0		%	(0.2		)%			(0.2		)%			(0.1		)%
Product Information
Long Term Care
Pretax income (loss)	$	3		$	2		$	—		$	—		$	(17	)	$	17		$	(17	)	$	(20	)	#		$	(34	)	#		$	(17	)	—
Allocated equity	$	552		$	550		$	593		$	586		$	597		$	552		$	597		$	45		8	%	$	45		8	%	$	11		2	%
Pretax return on allocated equity	3.3		%	3.4		%	2.1		%	0.9		%	(2.6		)%	3.3		%	(2.6		)%	(5.9		)%			(5.9		)%			(3.5		)%
Protection excluding Long Term Care
Pretax income	$	90		$	152		$	102		$	113		$	121		$	314		$	336		$	31		34	%	$	22		7	%	$	8		7	%
Allocated equity	$	1,756		$	1,768		$	1,765		$	1,780		$	1,873		$	1,756		$	1,873		$	117		7	%	$	117		7	%	$	93		5	%
Pretax return on allocated equity	25.9		%	27.9		%	26.8		%	26.3		%	27.3		%	25.9		%	27.3		%	1.4		%			1.4		%			$	1.0	%

# Variance of 100% or greater.

21

Ameriprise Financial, Inc.

Protection Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Cash Sales
VUL / UL (1)	$	88		$	82		$	64		$	64		$	57		$	260		$	185		$	(31	)	(35	)%	$	(75	)	(29	)%	$	(7	)	(11	)%
Term and whole life	5			5			4			5			4			15			13			(1		)	(20	)%	(2		)	(13	)%	(1		)	(20	)%
Disability insurance	4			4			4			4			3			14			11			(1		)	(25	)%	(3		)	(21	)%	(1		)	(25	)%
Auto and Home	157			145			156			155			166			453			477			9			6	%	24			5	%	11			7	%
Total cash sales	$	254		$	236		$	228		$	228		$	230		$	742		$	686		$	(24	)	(9	)%	$	(56	)	(8	)%	$	2		1	%
VUL / UL Policyholder Account Balances
Beginning balance	$	9,858		$	9,976		$	9,836		$	9,336		$	9,303		$	9,329		$	9,836		$	(555	)	(6	)%	$	507		5	%	$	(33	)	—
Premiums and deposits	277			280			266			256			254			835			776			(23		)	(8	)%	(59		)	(7	)%	(2		)	(1	)%
Investment performance and interest	115			(156		)	(493		)	(33		)	(627		)	618			(1,153		)	(742		)	#		(1,771		)	#		(594		)	#
Withdrawals and surrenders	(287		)	(275		)	(267		)	(258		)	(308		)	(848		)	(833		)	(21		)	(7	)%	15			2	%	(50		)	(19	)%
Other	13			11			(6		)	2			(31		)	42			(35		)	(44		)	#		(77		)	#		(33		)	#
Total ending balance	$	9,976		$	9,836		$	9,336		$	9,303		$	8,591		$	9,976		$	8,591		$	(1,385	)	(14	)%	$	(1,385	)	(14	)%	$	(712	)	(8	)%
Premiums by Product
Term and whole life	$	21		$	19		$	21		$	19		$	22		$	60		$	62		$	1		5	%	$	2		3	%	$	3		16	%
Disability insurance	42			42			43			43			44			125			130			2			5	%	5			4	%	1			2	%
Long term care	36			38			35			34			36			106			105			—			—		(1		)	(1	)%	2			6	%
Auto and Home	146			147			148			151			154			431			453			8			5	%	22			5	%	3			2	%
Intercompany premiums	8			9			7			8			7			25			22			(1		)	(13	)%	(3		)	(12	)%	(1		)	(13	)%
Total premiums by product	$	253		$	255		$	254		$	255		$	263		$	747		$	772		$	10		4	%	$	25		3	%	$	8		3	%
Auto and Home Insurance
Policy count (thousands)	512			517			524			532			540			512			540			28			5	%	28			5	%	8			2	%
Loss ratio	78.1		%	69.3		%	79.8		%	75.8		%	75.7		%	76.0		%	77.1		%	(2.4		)%			1.1		%			(0.1		)%
Expense ratio	18.0		%	15.5		%	16.8		%	15.3		%	20.5		%	17.6		%	17.5		%	2.5		%			(0.1		)%			5.2		%
Combined ratio	96.1		%	84.8		%	96.6		%	91.1		%	96.2		%	93.6		%	94.6		%	0.1		%			1.0		%			5.1		%
DAC Rollforward
Life and Health
Beginning balance	$	2,085		$	2,086		$	2,093		$	2,097		$	2,114		$	2,064		$	2,093		$	29		1	%	$	29		1	%	$	17		1	%
Capitalization	54			57			46			45			41			171			132			(13		)	(24	)%	(39		)	(23	)%	(4		)	(9	)%
Amortization per income statement	(54		)	(46		)	(40		)	(36		)	(126		)	(106		)	(202		)	(72		)	#		(96		)	(91	)%	(90		)	#
SOP 05-1 (Cumulative pretax impact)	—			—			—			—			—			(51		)	—			—			—		51			#		—			—
Other (FAS 115)	1			(4		)	(2		)	8			(10		)	8			(4		)	(11		)	#		(12		)	#		(18		)	#
Total ending balance	$	2,086		$	2,093		$	2,097		$	2,114		$	2,019		$	2,086		$	2,019		$	(67	)	(3	)%	$	(67	)	(3	)%	$	(95	)	(4	)%
Life Insurance in-Force	$	184,304		$	187,095		$	188,643		$	190,514		$	192,002		$	184,304		$	192,002		$	7,698		4	%	$	7,698		4	%	$	1,488		1	%
Net Amount at Risk	$	59,516		$	59,100		$	58,395		$	58,583		$	58,001		$	59,516		$	58,001		$	(1,515	)	(3	)%	$	(1,515	)	(3	)%	$	(582	)	(1	)%
Net Policyholder Reserves
VUL / UL	$	8,915		$	8,780		$	8,293		$	8,286		$	7,604		$	8,915		$	7,604		$	(1,311	)	(15	)%	$	(1,311	)	(15	)%	$	(682	)	(8	)%
Term and whole life	233			233			233			234			236			233			236			3			1	%	3			1	%	2			1	%
Disability insurance	419			426			431			431			454			419			454			35			8	%	35			8	%	23			5	%
Long term care and other	2,300			2,320			2,339			2,375			2,374			2,300			2,374			74			3	%	74			3	%	(1		)	—
Auto and Home loss and LAE reserves	361			339			333			319			308			361			308			(53		)	(15	)%	(53		)	(15	)%	(11		)	(3	)%
Total net policyholder reserves	$	12,228		$	12,098		$	11,629		$	11,645		$	10,976		$	12,228		$	10,976		$	(1,252	)	(10	)%	$	(1,252	)	(10	)%	$	(669	)	(6	)%

(1)	Includes lump sum deposits.
#	Variance of 100% or greater.

22

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Corporate & Other Segment

23

Ameriprise Financial, Inc.

Corporate & Other Segment

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.			%
Revenues
Management and financial advice fees	$	1		$	—		$	—		$	—		$	—		$	1		$	—		$	(1	)	#		$	(1	)	#		$	—		—
Distribution fees	—			—			—			—			—			—			—			—			—		—			—		—			—
Net investment income	(3		)	14			8			12			(9		)	8			11			(6		)	#		3			38	%	(21		)	#
Premiums	—			—			—			—			—			—			—			—			—		—			—		—			—
Other revenues	(2		)	3			2			2			—			4			4			2			#		—			—		(2		)	#
Total revenues	(4		)	17			10			14			(9		)	13			15			(5		)	#		2			15	%	(23		)	#
Banking and deposit interest expense	2			1			1			—			—			5			1			(2		)	#		(4		)	(80	)%	—			—
Total net revenues	(6		)	16			9			14			(9		)	8			14			(3		)	(50	)%	6			75	%	(23		)	#
Expenses
Distribution expenses	—			—			—			1			—			1			1			—			—		—			—		(1		)	#
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—			—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization of deferred acquisition costs	—			—			—			—			—			—			—			—			—		—			—		—			—
Interest and debt expense	27			27			26			28			27			85			81			—			—		(4		)	(5	)%	(1		)	(4	)%
General and administrative expense	40			47			14			31			134			112			179			94			#		67			60	%	103			#
Total expenses before separation costs (1)	67			74			40			60			161			198			261			94			#		63			32	%	101			#
Separation costs	60			28			—			—			—			208			—			(60		)	#		(208		)	#		—			—
Total expenses	127			102			40			60			161			406			261			34			27	%	(145		)	(36	)%	101			#
Pretax loss	$	(133	)	$	(86	)	$	(31	)	$	(46	)	$	(170	)	$	(398	)	$	(247	)	$	(37	)	(28	)%	$	151		38	%	$	(124	)	#
Balance Sheet Metrics
Allocated equity	$	1,767		$	1,751		$	1,730		$	1,730		$	1,224		$	1,767		$	1,224		$	(543	)	(31	)%	$	(543	)	(31	)%	$	(506	)	(29	)%

(1)See non-GAAP Financial Information.

#Variance of 100% or greater.

24

Ameriprise Financial, Inc.

Eliminations ⁽¹⁾

Third Quarter 2008

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 3Q					YTD Chg - 3Q					Seq Qtr Chg - 3Q
(in millions unless otherwise noted, unaudited)	3 Qtr 2007			4 Qtr 2007			1 Qtr 2008			2 Qtr 2008			3 Qtr 2008			2007			2008			Diff.			%		Diff.			%		Diff.		%
Revenues
Management and financial advice fees	$	(14	)	$	(14	)	$	(13	)	$	(13	)	$	(13	)	$	(39	)	$	(39	)	$	1		7	%	$	—		—		$	—	—
Distribution fees	(279		)	(276		)	(251		)	(253		)	(236		)	(871		)	(740		)	43			15	%	131			15	%	17		7	%
Net investment income	(1		)	(3		)	(2		)	(2		)	(2		)	(5		)	(6		)	(1		)	#		(1		)	(20	)%	—		—
Premiums	(8		)	(9		)	(7		)	(8		)	(8		)	(25		)	(23		)	—			—		2			8	%	—		—
Other revenues	—			—			—			—			—			—			—			—			—		—			—		—		—
Total revenues	(302		)	(302		)	(273		)	(276		)	(259		)	(940		)	(808		)	43			14	%	132			14	%	17		6	%
Banking and deposit interest expense	(1		)	(3		)	(3		)	(2		)	(2		)	(5		)	(7		)	(1		)	#		(2		)	(40	)%	—		—
Total net revenues	(301		)	(299		)	(270		)	(274		)	(257		)	(935		)	(801		)	44			15	%	134			14	%	17		6	%
Expenses
Distribution expenses	(250		)	(239		)	(221		)	(223		)	(209		)	(774		)	(653		)	41			16	%	121			16	%	14		6	%
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—		—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—		—
Amortization of deferred acquisition costs	—			—			—			—			—			—			—			—			—		—			—		—		—
Interest and debt expense	—			—			—			—			—			—			—			—			—		—			—		—		—
General and administrative expense	(51		)	(60		)	(49		)	(51		)	(48		)	(161		)	(148		)	3			6	%	13			8	%	3		6	%
Total expenses	(301		)	(299		)	(270		)	(274		)	(257		)	(935		)	(801		)	44			15	%	134			14	%	17		6	%
Pretax income	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		—		$	—		—		$	—	—

(1)The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses.

#Variance of 100% or greater.

25

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Balance Sheet and Ratings Information

26

Ameriprise Financial, Inc.

Consolidated Balance Sheets

(in millions, unaudited)	September 30, 2007			December 31, 2007			March 31, 2008			June 30, 2008			September 30, 2008
Assets
Cash and cash equivalents	$	4,002		$	3,836		$	3,904		$	3,373		$	4,043
Investments	31,126			30,625			29,808			29,506			28,101
Separate account assets	62,371			61,974			58,442			58,725			52,762
Receivables	3,323			3,441			3,441			3,614			3,921
Deferred acquisition costs	4,502			4,503			4,549			4,611			4,473
Restricted and segregated cash	1,225			1,332			1,142			994			1,895
Other assets	3,621			3,519			3,616			3,444			4,013
Total assets	$	110,170		$	109,230		$	104,902		$	104,267		$	99,208
Liabilities
Future policy benefits and claims	$	28,048		$	27,446		$	27,164		$	26,744		$	26,981
Separate account liabilities	62,371			61,974			58,442			58,725			52,762
Customer deposits	6,029			6,201			6,307			6,382			7,727
Debt	2,215			2,018			2,018			2,018			2,080
Accounts payable and accrued expenses	1,077			1,187			834			890			758
Other liabilities	2,672			2,594			2,556			2,194			2,183
Total liabilities	102,412			101,420			97,321			96,953			92,491
Shareholders’ Equity
Common shares ($.01 par)	3			3			3			3			3
Additional paid-in capital	4,593			4,630			4,637			4,649			4,704
Retained earnings	4,591			4,811			4,938			5,111			5,004
Treasury stock	(1,180		)	(1,467		)	(1,710		)	(1,927		)	(2,021		)
Accumulated other comprehensive income (loss), net of tax	(249		)	(167		)	(287		)	(522		)	(973		)
Total shareholders’ equity	7,758			7,810			7,581			7,314			6,717
Total liabilities and shareholders’ equity	$	110,170		$	109,230		$	104,902		$	104,267		$	99,208

27

Ameriprise Financial, Inc.

Capital and Ratings Information

(in millions unless otherwise noted, unaudited)	September 30, 2007			December 31, 2007			March 31, 2008			June 30, 2008			September 30, 2008
Debt Summary
Senior notes	$	1,500		$	1,500		$	1,500		$	1,500		$	1,500
Junior subordinated notes (2)	500			500			500			500			500
Non-recourse debt
Debt of CDO	197			—			—			—			—
Debt for inverse floaters	18			18			18			18			12
Debt of property fund limited partnerships	—			—			—			—			68
Total non-recourse debt	215			18			18			18			80
Total debt	$	2,215		$	2,018		$	2,018		$	2,018		$	2,080
Total debt	$	2,215		$	2,018		$	2,018		$	2,018		$	2,080
Total non-recourse debt	(215		)	(18		)	(18		)	(18		)	(80		)
Total debt excluding non-recourse debt (1)	2,000			2,000			2,000			2,000			2,000
Junior subordinated notes 75% equity credit (2)	(375		)	(375		)	(375		)	(375		)	(375		)
Total debt excluding non-recourse debt and 75% equity credit (1),(2)	$	1,625		$	1,625		$	1,625		$	1,625		$	1,625
Total shareholders’ equity	$	7,758		$	7,810		$	7,581		$	7,314		$	6,717
Total capital	9,973			9,828			9,599			9,332			8,797
Total capital excluding non-recourse debt (1)	$	9,758		$	9,810		$	9,581		$	9,314		$	8,717
Other Information
Debt to total capital	22.2		%	20.5		%	21.0		%	21.6		%	23.6		%
Debt to total capital excluding non-recourse debt (1)	20.5		%	20.4		%	20.9		%	21.5		%	22.9		%
Debt to total capital excluding non-recourse debt and 75% equity credit (1)	16.7		%	16.6		%	17.0		%	17.4		%	18.6		%

Ratings (as of September 30, 2008)	A.M. Best Company	Standard & Poor’s Rating Services	Moody’s Investors Service, Inc.	Fitch Ratings Ltd.
Claims Paying Ratings
RiverSource Life Insurance Company	A+	AA-	Aa3	AA-
IDS Property Casualty Ins. Company	A	N/R	N/R	N/R
Debt Ratings
Ameriprise Financial, Inc.	a-	A	A3	A-

(1)	See non-GAAP Financial Information.
(2)	The Company’s junior subordinated notes receive an equity credit of at least 75% by the majority of rating agencies.

28

Ameriprise Financial, Inc.

Investments

(in millions unless otherwise noted, unaudited)	September 30, 2007			December 31, 2007			March 31, 2008			June 30, 2008			September 30, 2008
Cash and cash equivalents	$	4,002		$	3,836		$	3,904		$	3,373		$	4,043
Investments - Ending Balances
Available-for-Sale Securities
Corporate debt securities	14,471			13,943			13,493			13,319			12,593
Mortgage backed securities	6,267			6,282			6,155			6,013			5,741
Commercial mortgage backed securities	3,075			3,043			2,944			2,841			2,711
Asset backed securities	1,044			1,068			1,031			1,073			1,053
Total mortgage and other asset backed securities	10,386			10,393			10,130			9,927			9,505
Structured investments	48			46			42			38			35
State and municipal obligations	1,054			1,035			1,004			991			923
US government and agencies obligations	360			328			333			326			265
Foreign government bonds and obligations	133			112			113			110			107
Common and preferred stocks	58			58			51			54			49
Other AFS	54			16			20			26			18
Total other	1,707			1,595			1,563			1,545			1,397
Total available-for-sale securities	26,564			25,931			25,186			24,791			23,495
Commercial mortgage loans	3,025			3,115			3,127			3,058			2,939
Allowance for loan losses	(18		)	(18		)	(18		)	(18		)	(18		)
Commercial mortgage loans, net	3,007			3,097			3,109			3,040			2,921
Policy loans	693			706			713			725			730
Trading securities	551			504			428			379			374
Other investments	311			387			372			571			581
Total investments	31,126			30,625			29,808			29,506			28,101
Total cash, cash equivalents and investments	$	35,128		$	34,461		$	33,712		$	32,879		$	32,144
SFAS 115 Mark-to-market AFS	$	(434	)	$	(316	)	$	(500	)	$	(915	)	$	(1,517	)
AFS Fixed Maturity Asset Quality - %
AAA	43		%	44		%	44		%	42		%	41		%
AA	11		%	10		%	10		%	10		%	8		%
AFS securities AA and above	54		%	54		%	54		%	52		%	49		%
A	16		%	16		%	16		%	17		%	17		%
BBB	24		%	24		%	24		%	24		%	27		%
Below investment grade	6		%	6		%	6		%	7		%	7		%
Total AFS fixed maturity asset quality -%	100		%	100		%	100		%	100		%	100		%
Fair Value of Below Investment Grade as a % of Total cash and investments	5		%	6		%	5		%	7		%	7		%

29

Ameriprise Financial, Inc.

Non-GAAP Financial Information

Ameriprise Financial, Inc. (the Company) follows accounting principles generally accepted in the United States (U.S. GAAP).  This report includes information on both a U.S. GAAP and non-GAAP basis.

Certain non-GAAP measures in this report exclude items that are a direct result of our separation from American Express Company, consisting of non-recurring separation costs.  These non-GAAP financial measures, which our management views as important indicators of financial performance, include: 

· Adjusted earnings (loss);

· Separation costs, after-tax;

· Adjusted pretax income (losses);

· Adjusted pretax margin;

· Adjusted earnings margin;

· Adjusted return on equity;

· Adjusted earnings per diluted share;

· Total debt excluding non-recourse debt;

· Total debt excluding non-recourse debt and 75% equity credit;

· Total capital excluding non-recourse debt;

· Debt to total capital excluding non-recourse debt;

· Debt to total capital excluding non-recourse debt and 75% equity credit;

· Pretax operating earnings;

· Pretax operating earnings margin; and

· Total expenses before separation costs for the Financial Summary and Corporate & Other segment.

Management believes that the presentation of these non-GAAP financial measures excluding these specific income statement impacts best reflects the underlying performance of the Company’s ongoing operations and facilitates a more meaningful trend analysis.  These non-GAAP measures are also used for goal setting, certain compensation related to the Company’s annual incentive award program and evaluating the Company’s performance on a basis comparable to that used by securities analysts.

The Company presents debt to capital ratios excluding non-recourse debt of structured entities consolidated in accordance with FIN 46(R),  EITF 04-5 and other accounting literature and with a 75% equity credit for the Company’s junior subordinated debt.  Management believes that the debt to capital ratios excluding this non-recourse debt better represent the Company’s capital structure.

Reclassification

Certain prior period information has been restated to conform to current period presentation.

30

Ameriprise Financial, Inc.

Glossary of Selected Terminology - Segments

Advice & Wealth Management - This segment provides financial advice and full service brokerage and banking services, primarily to retail clients, through our financial advisors. Our advisors distribute a diversified selection of both proprietary and non-proprietary products to help clients meet their financial needs. A significant portion of revenues in this segment are fee-based, driven by the level of client assets, which is impacted by both market movements and net asset flows. We also earn net investment income on owned assets from primarily certificate and banking products. This segment earns revenues (distribution fees) for distributing non-proprietary products and earns intersegment revenues (distribution fees) for distributing our proprietary products and services to our retail clients. Intersegment expenses for this segment include expenses for investment management services provided by our Asset Management segment.

Asset Management - This segment provides investment advice and investment products to retail and institutional clients. Threadneedle Investments predominantly provides international investment products and services, and RiverSource Investments predominantly provides domestic products and services. Domestic retail products are primarily distributed through our Advice & Wealth Management segment and also through third-party distribution. International retail products are primarily distributed through third parties. Products accessed by consumers on a retail basis include mutual funds, variable product funds underlying insurance and annuity separate accounts, separately managed accounts and collective funds. Asset Management products are also distributed directly to institutions through an institutional sales force. Institutional asset management products include traditional asset classes separate accounts, collateralized loan obligations, hedge funds and property funds. Revenues in this segment are primarily earned as fees based on managed asset balances which are impacted by both market movements and net asset flows. This segment earns intersegment revenue for investment management services. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management, Annuities and Protection segments.

Annuities - This segment provides RiverSource Life variable and fixed annuity products to our retail clients primarily distributed through our Advice & Wealth Management segment and to the retail clients of unaffiliated distributors through third-party distribution. Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows. Revenues for our fixed annuity products are primarily earned as net investment income on underlying account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances. We also earn net investment income on owned assets supporting annuity benefits reserves and capital supporting the business. Intersegment revenues for this segment reflect fees paid by our Asset Management segment for marketing support and other services provided in connection with the availability of RiverSource funds under the variable annuity contracts. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment.

Protection - This segment offers a variety of protection products to address the identified protection and risk management needs of our retail clients including life, disability income and property-casualty insurance. Life and disability income products are primarily distributed through our Advice & Wealth Management segment. Our property-casualty products are sold direct, primarily through affinity relationships. The primary sources of revenues for this segment are premiums, fees, and charges that we receive to assume insurance-related risk. We earn net investment income on owned assets supporting insurance reserves and capital supporting the business. We also receive fees based on the level of assets supporting variable universal life separate account balances. This segment earns intersegment revenues from fees paid by the Asset Management segment for marketing support and other services provided in connection with the availability of RiverSource funds under the variable universal life contracts. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment.

Corporate & Other - This segment consists of net investment income on corporate level assets, including unallocated equity and other revenues from various investments as well as unallocated corporate expenses. This segment also includes non-recurring costs associated with our separation from American Express, which ended in 2007.

31

Ameriprise Financial, Inc.

Glossary of Selected Terminology

Adjusted Earnings - Adjustment to net income including the after-tax effect on separation costs.

Adjusted Earnings Margin - A ratio using as the numerator adjusted earnings and as the denominator total net revenues.

Adjusted Pretax Income - Adjustments made to income before tax provision for separation costs.

Adjusted Pretax Margin - A ratio using as the numerator adjusted pretax income and as the denominator total net revenues.

Adjusted Return on Equity - Adjusted return on equity (“ROE”) is calculated using adjusted earnings in the numerator for the last twelve months and equity excluding the equity allocated to expected non-recurring separation costs as of the last day of the preceding four quarters and the current quarter in the denominator.

Administered Assets - Administered assets include assets for which we provide administrative services such as client assets invested in other companies’ products that we offer outside of our wrap accounts. These assets include those held in clients’ brokerage accounts. We do not exercise management discretion over these assets and do not earn a management fee. These assets are not reported on our Consolidated Balance Sheets.

Alternative Assets - Assets reported by the Company that include Hedge Funds and Collateralized Debt Obligations (“CDO”).

Allocated Equity - The internal allocation of consolidated shareholders’ equity, excluding accumulated other comprehensive income (loss), to our operating segments for purposes of measuring segment return on allocated equity.  Allocated equity does not represent insurance company risk-based capital or other regulatory capital requirements applicable to us and certain of our subsidiaries. For the Corporate & Other segment, allocated equity also includes any excess capital.

Auto & Home Insurance - Personal auto and home protection products marketed directly to customers through marketing affiliates such as Costco Wholesale Corporation, Delta Loyalty Management Services, Inc. and Ford Motor Credit Company. We sell these products through our auto and home subsidiary, IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance).

Book Value per Share - Total shareholders’ equity divided by the number of basic common shares outstanding at period-end.

Cash Sales - Cash sales are the dollar value volume indicator that captures gross new cash inflows which generate product revenue streams to our company. This includes primarily “client initiated” activity that results in an incremental increase in assets (owned, managed or administered), or premiums inforce (but doesn’t need to result in time of sale revenue), or activity that doesn’t increase assets or premiums inforce, but generates “fee revenue”.

Debt to Total Capital Ratio - A ratio comprised of total debt divided by total capital. We also present debt to capital ratios excluding non-recourse debt of structured entities consolidated in accordance with FIN 46(R),  EITF 04-5 and other accounting literature and with a 75% equity credit for our junior subordinated debt. 

Deferred Acquisition Costs and Amortization - Deferred acquisition costs (“DAC”) represent the costs of acquiring new protection, annuity and certain mutual fund business, principally direct sales commissions and other distribution and underwriting costs that have been deferred on the sale of annuity, life, disability income and long term care insurance and, to a lesser extent, deferred marketing and promotion expenses on auto and home insurance and deferred distribution costs on certain mutual fund products. These costs are deferred to the extent they are recoverable from future profits.

Emerging Issues Task Force (“EITF”) Issue No. 04-5, “Determining Whether a General Partner, or the General Partners as a Group, Controls a Limited Partnership or Similar Entity When the Limited Partners Have Certain Rights” (“EITF 04-5”) - EITF 04-5 provides guidance on whether a partnership should be consolidated by one of its partners. Our adoption of EITF 04-5 effective January 1, 2006 resulted in the consolidation of certain limited partnerships for which we are the general partner. As a result, we consolidate certain property fund limited partnerships managed by Threadneedle Investments and certain hedge funds managed by RiverSource Investments.

Financial Planning Penetration - The period-end number of current clients who have received a financial plan, or have entered into an agreement to receive and have paid for a financial plan, divided by the number of active retail client groups, serviced by branded financial advisors.

Life Insurance in-Force - The total amount of all life insurance death benefits currently insured by our company.

Managed External Client Assets - Managed external client assets include client assets for which we provide investment management services, such as the assets of the RiverSource family of mutual funds, assets of institutional clients and client assets held in wrap accounts (retail accounts for which we receive an advice fee based on assets held in the account).  Managed external client assets also include assets managed by sub-advisors selected by us. Managed external client assets are not reported on our Consolidated Balance Sheets.

Managed Owned Assets - Managed owned assets include certain assets on our Consolidated Balance Sheets for which we provide investment management services and recognize management fees, such as the assets of the general account and RiverSource Variable Product funds held in the separate accounts of our life insurance subsidiaries.

Net Amount at Risk - Life insurance inforce less policyholder reserves net of re-insurance.

Net Flows - Sales less redemptions and miscellaneous flows which may include reinvested dividends.

Net Income Margin - A ratio representing net income as a percentage of total net revenues.

Owned Assets - Owned assets include certain assets on our Consolidated Balance Sheets for which we do not provide investment management services and do not recognize management fees, such as investments in non-proprietary funds held in the separate accounts of our life insurance subsidiaries, as well as restricted and segregated cash and receivables.

Pretax Income (Loss) - Income (loss) before income tax provision (benefit).

Pretax Income Margin - A ratio representing pretax income as a percentage of total net revenues.

Pretax Operating Earnings - Pretax income plus or minus net realized gains (losses).

Pretax Operating Earnings Margin - A ratio representing pretax operating earnings as a percentage of total net revenues.

Pretax Return on Allocated Equity - Calculated using pretax income for the last twelve months and the average allocated equity as of the last day of the trailing four quarters and current quarter end. 

Securities America - Securities America Financial Corporation (“SAFC”) is a corporation whose sole function is to hold the stock of its operating subsidiaries, Securities America, Inc. (“SAI”) and Securities America Advisors, Inc. (“SAA”). SAI is a registered broker-dealer and an insurance agency. SAA is an SEC registered investment advisor.

32

Separate Accounts - Represent assets and liabilities that are maintained and established primarily for the purpose of funding variable annuity and insurance products. The assets of the separate account are only available to fund the liabilities of the variable entity contract holders and others with contracts requiring premiums or other deposits to the separate account. Clients elect to invest premiums in stock, bond and/or money market funds depending on their risk tolerance. All investment performance, net of fees, is passed through to the client.

Separation Costs - Separation costs include expenses related to our separation from American Express Company. These costs are primarily associated with establishing the Ameriprise Financial brand, separating and reestablishing our technology platforms and advisor and employee retention programs.  These costs ended in 2007.

Separation costs, after-tax - For this non-GAAP presentation of non-recurring separation costs, after-tax is calculated in each quarter using the statutory tax rate of 35%, adjusted for permanent differences, if any.

SOP 05-1 (“Statement of Position”), “Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection With Modifications or Exchanges of Insurance Contracts” - SOP 05-1 provides guidance on accounting for DAC associated with any insurance or annuity contract that is significantly modified or internally replaced with another contract.

Third Party Distribution - Distribution of RiverSource products, which include a variety of equity and fixed income mutual funds, annuities and insurance products, to retail clients through unaffiliated financial institutions and broker-dealers.  The Third Party channel is separate from the Branded Advisor, Threadneedle, SAFC, and Institutional sales channels.

Threadneedle - Threadneedle Asset Management Holdings Limited is a holding company for the London-based Threadneedle companies, which provide investment management products and services.

Total Capital - Total shareholders’ equity plus total debt. Total capital is also presented excluding non-recourse debt.

Wrap Accounts - Wrap accounts enable our clients to purchase other securities such as mutual funds in connection with investment advisory fee-based “wrap account” programs or services. We offer clients the opportunity to select products that include proprietary and non-proprietary funds. We currently offer both discretionary and non-discretionary investment advisory wrap accounts. In a discretionary wrap account, an unaffiliated investment advisor or our investment management subsidiary, RiverSource Investments, LLC chooses the underlying investments in the portfolio on behalf of the client. In a non-discretionary wrap account, the client chooses the underlying investments in the portfolio based, to the extent the client elects, in part or whole on the recommendations of their financial advisor. Investors in our wrap accounts generally pay an asset-based fee based on the assets held in their wrap accounts. These investors also pay any related fees or costs included in the underlying securities held in that account, such as underlying mutual fund operating expenses and Rule 12b-1 fees.

33

Exhibit A

Statistical Supplement Package

(unaudited)

Third Quarter 2008

RiverSource^® Mutual Fund Performance and

Lipper Ranking

34

Equity Fund Performance & Lipper Ranking

As of September 30, 2008

Source of Data:  Lipper

The performance information shown represents past performance and is not a guarantee of future results.  The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance information shown.  You may obtain performance information current to the most recent month-end by visiting riversource.com/funds.

				Rankings and Annualized Returns at NAV (1)																	Annualized Returns @ POP (1)
	Total Net	Total Net	Gross													Fund	Since				Max. Front
	Assets	Assets	Expense	1 year			3 years			5 years			10 years			Inception	Inception	Ranking Since			Sales					Since
Class A Shares by Lipper Category	(Mil $)	Date	Ratio	Return	Ranking		Return	Ranking		Return	Ranking		Return	Ranking		Date	Return	Date	Ranking		Charge	1 year	3 years	5 years	10 years	Inception
Emerging Market Funds
Threadneedle Emerging Markets Fund	412.4	9/30/2008	1.83	-33.20	44	%	8.23	41	%	17.68	49	%	13.60	53	%	11/13/1996	7.39	11/14/1996	48	%	5.75	-37.04	6.12	16.29	12.93	6.86
Lipper Fund Ranking / Total Funds in Category					128 / 294			84 / 205			85 / 174			52 / 98					31 / 64
Equity Income Funds
RiverSource Diversified Equity Income Fund	5,785.5	9/30/2008	1.00	-25.05	84	%	1.32	54	%	9.73	6	%	7.11	12	%	10/15/1990	10.79	10/18/1990	35	%	5.75	-29.36	-0.66	8.44	6.48	10.42
Lipper Fund Ranking / Total Funds in Category					239 / 286			124 / 230			9 / 171			12 / 99					9 / 25
RiverSource Dividend Opportunity Fund	1,337.5	9/30/2008	1.11	-23.37	75	%	1.37	52	%	6.44	48	%	2.50	86	%	8/1/1988	8.34	8/4/1988	77	%	5.75	-27.78	-0.61	5.19	1.90	8.02
Lipper Fund Ranking / Total Funds in Category					213 / 286			119 / 230			82 / 171			86 / 99					16 / 20
European Region Funds
Threadneedle European Equity Fund	89.2	9/30/2008	1.43	-24.83	9	%	4.82	11	%	10.63	53	%				6/26/2000	0.49	6/26/2000	75	%	5.75	-29.15	2.77	9.33		-0.23
Lipper Fund Ranking / Total Funds in Category					9 / 109			10 / 95			46 / 87								45 / 59
Extended U.S. Large-Cap Core Funds
RiverSource 120/20 Contrarian Equity Fund	44.3	9/30/2008	2.01													10/18/2007	-30.40				5.75					-34.40
Lipper Fund Ranking / Total Funds in Category
RiverSource 130/30 U.S. Equity Fund	14.1	9/30/2008	3.18													10/18/2007	-30.87				5.75					-34.84
Lipper Fund Ranking / Total Funds in Category
Flexible Portfolio Funds
RiverSource Strategic Allocation Fund	1,675.5	9/30/2008	1.13	-20.91	79	%	0.83	54	%	5.90	40	%	3.87	74	%	1/23/1985	9.67	1/31/1985	50	%	5.75	-25.45	-1.14	4.65	3.26	9.40
Lipper Fund Ranking / Total Funds in Category					113 / 143			54 / 100			35 / 87			38 / 51					3 / 5
Global Large Cap Growth Funds
Threadneedle Global Equity Fund	549.9	9/30/2008	1.39	-29.10	63	%	0.39	35	%	8.32	22	%	2.44	71	%	5/29/1990	4.62	5/31/1990	80	%	5.75	-33.17	-1.57	7.05	1.83	4.29
Lipper Fund Ranking / Total Funds in Category					62 / 98			27 / 77			12 / 55			22 / 30					4 / 4
Global Multi Cap Growth Funds
Threadneedle Global Equity Income Fund	9.5	9/30/2008	1.81													8/1/2008	-11.72				5.75					-16.80
Lipper Fund Ranking / Total Funds in Category
Global Science & Technology Funds
RiverSource Global Technology Fund	107.6	9/30/2008	1.60	-29.17	45	%	0.16	38	%	5.65	9	%	3.65	35	%	11/13/1996	3.21	11/14/1996	62	%	5.75	-33.24	-1.79	4.40	3.04	2.70
Lipper Fund Ranking / Total Funds in Category					43 / 95			34 / 90			7 / 78			8 / 22					11 / 17
Gold-Oriented Funds
RiverSource Precious Metals and Mining Fund	97.8	9/30/2008	1.33	-27.71	75	%	8.89	74	%	9.46	80	%	11.75	76	%	4/22/1985	6.94	4/30/1985	50	%	5.75	-31.86	6.76	8.17	11.09	6.67
Lipper Fund Ranking / Total Funds in Category					49 / 65			39 / 52			38 / 47			22 / 28					5 / 9
International Large Cap Core Funds
Threadneedle International Opportunity Fund	450.4	9/30/2008	1.34	-27.14	13	%	2.06	28	%	8.80	46	%	2.29	90	%	11/15/1984	7.51	11/15/1984	75	%	5.75	-31.32	0.07	7.52	1.68	7.24
Lipper Fund Ranking / Total Funds in Category					28 / 228			54 / 193			80 / 173			90 / 100					3 / 3
International Multi Cap Growth Funds
RiverSource Disciplined International Equity Fund	574.0	9/30/2008	1.46	-34.74	75	%										5/18/2006	-5.22	5/18/2006	62	%	5.75	-38.49				-7.56
Lipper Fund Ranking / Total Funds in Category					156 / 208														110 / 177
RiverSource Partners International Select Growth Fund (2)	496.5	9/30/2008	1.61	-32.45	62	%	1.66	53	%	10.51	43	%				9/28/2001	8.16	9/28/2001	45	%	5.75	-36.34	-0.32	9.21		7.25
Lipper Fund Ranking / Total Funds in Category					128 / 208			81 / 152			50 / 118								43 / 96
International Multi Cap Value Funds
RiverSource Partners International Select Value Fund (2)	1,244.6	9/30/2008	1.38	-36.50	91	%	-1.58	73	%	9.04	57	%				9/28/2001	8.64	9/28/2001	56	%	5.75	-40.16	-3.50	7.75		7.73
Lipper Fund Ranking / Total Funds in Category					127 / 139			73 / 100			49 / 85								37 / 66
International Small/Mid Cap Core Funds
RiverSource Partners International Small Cap Fund(2)	66.5	9/30/2008	1.90	-40.01	80	%	-3.36	87	%	5.84	94	%				10/3/2002	11.26	10/3/2002	84	%	5.75	-43.46	-5.25	4.59		10.16
Lipper Fund Ranking / Total Funds in Category					49 / 61			38 / 43			40 / 42								30 / 35
Large Cap Core Funds
RiverSource Large Cap Equity Fund	3,497.8	9/30/2008	1.05	-27.46	90	%	-2.93	86	%	2.17	86	%				3/28/2002	0.15	3/28/2002	75	%	5.75	-31.63	-4.83	0.97		-0.76
Lipper Fund Ranking / Total Funds in Category					764 / 854			613 / 719			518 / 602								398 / 530
RiverSource Disciplined Equity Fund	2,655.6	9/30/2008	0.96	-23.59	71	%	-0.88	58	%	4.74	42	%				4/24/2003	6.31	4/24/2003	39	%	5.75	-27.98	-2.82	3.50		5.15
Lipper Fund Ranking / Total Funds in Category					602 / 854			416 / 719			250 / 602								225 / 578
Large Cap Growth Funds
RiverSource Growth Fund	1,810.8	9/30/2008	1.04	-30.10	97	%	-4.98	97	%	1.12	89	%	-1.09	91	%	3/1/1972	10.49	3/2/1972	30	%	5.75	-34.12	-6.84	-0.07	-1.67	10.31
Lipper Fund Ranking / Total Funds in Category					742 / 770			628 / 653			476 / 539			232 / 255					7 / 23
Large Cap Value Fund
RiverSource Disciplined Large Cap Value Fund	9.5	9/30/2008	1.32													8/1/2008	-10.04				5.75					-15.21
Lipper Fund Ranking / Total Funds in Category
RiverSource Equity Value Fund	831.4	9/30/2008	1.06	-23.34	52	%	1.89	15	%	8.60	8	%	4.71	40	%	3/20/1995	7.70	3/23/1995	59	%	5.75	-27.75	-0.10	7.33	4.10	7.23
Lipper Fund Ranking / Total Funds in Category					292 / 571			73 / 499			30 / 411			69 / 175					60 / 101
RiverSource Large Cap Value Fund	47.1	9/30/2008	1.31	-28.53	87	%	-2.95	84	%	3.38	85	%				6/27/2002	3.01	6/27/2002	83	%	5.75	-32.64	-4.85	2.17		2.04
Lipper Fund Ranking / Total Funds in Category					496 / 571			417 / 499			350 / 411								287 / 346

35

Equity Fund Performance & Lipper Ranking

As of September 30, 2008

Source of Data:  Lipper

The performance information shown represents past performance and is not a guarantee of future results.  The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance information shown.  You may obtain performance information current to the most recent month-end by visiting riversource.com/funds.

				Rankings and Annualized Returns at NAV (1)																	Annualized Returns @ POP (1)
	Total Net	Total Net	Gross													Fund	Since				Max. Front
	Assets	Assets	Expense	1 year			3 years			5 years			10 years			Inception	Inception	Ranking Since			Sales					Since
Class A Shares by Lipper Category	(Mil $)	Date	Ratio	Return	Ranking		Return	Ranking		Return	Ranking		Return	Ranking		Date	Return	Date	Ranking		Charge	1 year	3 years	5 years	10 years	Inception
Long-Short Equity Funds
Threadneedle Global Extended Alpha Fund	7.6	9/30/2008	1.99													8/1/2008	-13.65				5.75					-18.62
Lipper Fund Ranking / Total Funds in Category
Mid Cap Core Funds
RiverSource Disciplined Small and Mid-Cap Equity Fund	37.1	9/30/2008	1.32	-22.72	68	%										5/18/2006	-9.48	5/18/2006	98	%	5.75	-27.16				-11.72
Lipper Fund Ranking / Total Funds in Category					230 / 339														283 / 290
Mid Cap Growth Funds
RiverSource Mid Cap Growth Fund	680.1	9/30/2008	1.08	-24.12	43	%	-3.59	83	%	3.17	84	%	4.62	66	%	6/4/1957	^				5.75	-28.49	-5.47	1.95	4.00	^
Lipper Fund Ranking / Total Funds in Category					263 / 614			435 / 528			357 / 424			128 / 193
RiverSource Partners Aggressive Growth Fund (2)	448.3	9/30/2008	1.65	-27.72	67	%	0.51	39	%	6.71	36	%				4/24/2003	10.06	4/24/2003	24	%	5.75	-31.88	-1.46	5.45		8.87
Lipper Fund Ranking / Total Funds in Category					412 / 614			206 / 528			153 / 424								95 / 405
Mid Cap Value Funds
RiverSource Mid Cap Value Fund	2,360.0	9/30/2008	1.23	-25.62	80	%	1.10	22	%	11.33	5	%				2/14/2002	8.94	2/14/2002	13	%	5.75	-29.89	-0.88	10.02		7.97
Lipper Fund Ranking / Total Funds in Category					287 / 360			60 / 276			10 / 209								21 / 169
Mixed-Asset Target 2010 Funds
RiverSource Retirement PlusSM 2010 Fund	13.9	9/30/2008	1.49	-17.72	84	%										5/18/2006	-0.47	5/18/2006	56	%	5.75	-22.45				-2.92
Lipper Fund Ranking / Total Funds in Category					141 / 167														57 / 101
Mixed-Asset Target 2015 Funds
RiverSource Retirement Plus 2015 Fund	24.8	9/30/2008	1.31	-20.32	86	%										5/18/2006	-1.14	5/18/2006	59	%	5.75	-24.90				-3.58
Lipper Fund Ranking / Total Funds in Category					93 / 108														32 / 54
Mixed-Asset Target 2020 Funds
RiverSource Retirement Plus 2020 Fund	27.5	9/30/2008	1.29	-22.74	91	%										5/18/2006	-1.98	5/18/2006	61	%	5.75	-27.18				-4.40
Lipper Fund Ranking / Total Funds in Category					130 / 143														52 / 85
Mixed-Asset Target 2025 Funds
RiverSource Retirement Plus 2025 Fund	28.5	9/30/2008	1.34	-23.88	91	%										5/18/2006	-2.64	5/18/2006	56	%	5.75	-28.26				-5.05
Lipper Fund Ranking / Total Funds in Category					80 / 87														21 / 37
Mixed-Asset Target 2030 Funds
RiverSource Retirement Plus 2030 Fund	26.9	9/30/2008	1.32	-23.85	80	%										5/18/2006	-2.42	5/18/2006	50	%	5.75	-28.23				-4.83
Lipper Fund Ranking / Total Funds in Category					112 / 140														41 / 82
Mixed-Asset Target 2035 Funds
RiverSource Retirement Plus 2035 Fund	17.9	9/30/2008	1.51	-23.95	71	%										5/18/2006	-2.77	5/18/2006	49	%	5.75	-28.33				-5.17
Lipper Fund Ranking / Total Funds in Category					62 / 87														17 / 34
Mixed-Asset Target 2040 Funds
RiverSource Retirement Plus 2040 Fund	11.3	9/30/2008	1.66	-23.83	61	%										5/18/2006	-2.49	5/18/2006	31	%	5.75	-28.21				-4.90
Lipper Fund Ranking / Total Funds in Category					76 / 124														23 / 75
Mixed-Asset Target 2045 Funds
RiverSource Retirement Plus 2045 Fund	9.4	9/30/2008	2.10	-23.73	60	%										5/18/2006	-2.56	5/18/2006	37	%	5.75	-28.12				-4.97
Lipper Fund Ranking / Total Funds in Category					45 / 75														8 / 21
Mixed-Asset Target Allocation Conservative Funds
RiverSource Portfolio Builder Conservative Fund	201.0	9/30/2008	1.06	-5.79	18	%	2.19	18	%							3/4/2004	2.83	3/4/2004	20	%	4.75	-10.26	0.55			1.75
Lipper Fund Ranking / Total Funds in Category					77 / 446			58 / 322											44 / 220
RiverSource Portfolio Builder Moderate Conservative Fund	378.3	9/30/2008	1.10	-10.28	59	%	1.90	27	%							3/4/2004	3.15	3/4/2004	13	%	4.75	-14.55	0.26			2.06
Lipper Fund Ranking / Total Funds in Category					260 / 446			87 / 322											28 / 220
Mixed-Asset Target Allocation Growth Funds
RiverSource Portfolio Builder Moderate Aggressive Fund	1,016.3	9/30/2008	1.23	-18.30	54	%	0.84	41	%							3/4/2004	3.15	3/4/2004	29	%	5.75	-23.00	-1.13			1.82
Lipper Fund Ranking / Total Funds in Category					355 / 663			223 / 548											131 / 465
Mixed-Asset Target Allocation Moderate Funds
RiverSource Balanced Fund	712.0	9/30/2008	1.07	-18.73	84	%	-0.25	71	%	3.76	56	%	0.33	94	%	4/16/1940	^				5.75	-23.40	-2.20	2.54	-0.26	^
Lipper Fund Ranking / Total Funds in Category					418 / 499			257 / 363			136 / 245			132 / 140
RiverSource Portfolio Builder Moderate Fund	985.8	9/30/2008	1.16	-14.42	49	%	1.47	29	%							3/4/2004	3.36	3/4/2004	19	%	5.75	-19.34	-0.51			2.03
Lipper Fund Ranking / Total Funds in Category					243 / 499			105 / 363											53 / 283
Multi Cap Core Funds
RiverSource Disciplined Large Cap Growth Fund	192.4	9/30/2008	1.44	-25.78	76	%										5/17/2007	-17.86	5/17/2007	69	%	5.75	-30.05				-21.34
Lipper Fund Ranking / Total Funds in Category					617 / 816														542 / 792
RiverSource Partners Fundamental Value Fund (2)	767.9	9/30/2008	1.27	-21.80	37	%	-0.35	49	%	5.80	38	%				6/18/2001	2.46	6/18/2001	40	%	5.75	-26.29	-2.30	4.56		1.63
Lipper Fund Ranking / Total Funds in Category					300 / 816			311 / 639			173 / 465								128 / 325
RiverSource Portfolio Builder Aggressive Fund	472.2	9/30/2008	1.29	-22.58	48	%	0.07	41	%							3/4/2004	2.86	3/4/2004	31	%	5.75	-27.03	-1.89			1.54
Lipper Fund Ranking / Total Funds in Category					386 / 816			257 / 639											155 / 511
RiverSource Portfolio Builder Total Equity Fund	405.7	9/30/2008	1.34	-26.77	84	%	-0.80	59	%							3/4/2004	2.55	3/4/2004	39	%	5.75	-30.98	-2.74			1.23
Lipper Fund Ranking / Total Funds in Category					685 / 816			374 / 639											195 / 511

36

Equity Fund Performance & Lipper Ranking

As of September 30, 2008

Source of Data:  Lipper

The performance information shown represents past performance and is not a guarantee of future results.  The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance information shown.  You may obtain performance information current to the most recent month-end by visiting riversource.com/funds.

				Rankings and Annualized Returns at NAV (1)																	Annualized Returns @ POP (1)
	Total Net	Total Net	Gross													Fund	Since				Max. Front
	Assets	Assets	Expense	1 year			3 years			5 years			10 years			Inception	Inception	Ranking Since			Sales					Since
Class A Shares by Lipper Category	(Mil $)	Date	Ratio	Return	Ranking		Return	Ranking		Return	Ranking		Return	Ranking		Date	Return	Date	Ranking		Charge	1 year	3 years	5 years	10 years	Inception
Multi Cap Value Funds
RiverSource Partners Select Value Fund (2)	333.9	9/30/2008	1.53	-18.60	14	%	1.58	10	%	7.05	23	%				3/8/2002	5.91	3/8/2002	6	%	5.75	-23.28	-0.40	5.79		4.95
Lipper Fund Ranking / Total Funds in Category					57 / 416			31 / 318			58 / 253								11 / 207
Real Estate Funds
RiverSource Real Estate Fund	218.6	9/30/2008	1.45	-12.78	44	%	5.36	34	%							3/4/2004	11.10	3/4/2004	19	%	5.75	-17.80	3.30			9.67
Lipper Fund Ranking / Total Funds in Category					101 / 230			65 / 193											31 / 170
S&P 500 Index Objective Funds
RiverSource S&P 500 Index Fund (3)	158.3	9/30/2008	0.68	-22.23			-0.26			4.58						10/25/1999	-0.11	10/28/1999			—	-22.23	-0.26	4.58		-0.11
Small Cap Core Funds
RiverSource Partners Small Cap Equity Fund (2)	184.2	9/30/2008	1.70	-18.57	54	%	-0.79	60	%	7.50	50	%				3/8/2002	4.41	3/8/2002	70	%	5.75	-23.25	-2.73	6.23		3.48
Lipper Fund Ranking / Total Funds in Category					426 / 800			381 / 637			246 / 497								287 / 411
RiverSource Partners Small Cap Value Fund (2)	417.4	9/30/2008	1.57	-18.76	56	%	-0.56	56	%	6.65	65	%				6/18/2001	6.72	6/18/2001	41	%	5.75	-23.43	-2.50	5.39		5.86
Lipper Fund Ranking / Total Funds in Category					445 / 800			351 / 637			323 / 497								144 / 353
RiverSource Small Cap Advantage Fund	221.5	9/30/2008	1.34	-23.80	84	%	-4.29	91	%	4.65	85	%				5/4/1999	4.08	5/6/1999	92	%	5.75	-28.18	-6.16	3.42		3.42
Lipper Fund Ranking / Total Funds in Category					669 / 800			576 / 637			421 / 497								217 / 235
RiverSource Small Company Index Fund	578.5	9/30/2008	0.93	-14.29	22	%	1.31	30	%	9.04	25	%	9.08	49	%	8/19/1996	8.46	8/22/1996	50	%	5.75	-19.22	-0.67	7.75	8.43	7.93
Lipper Fund Ranking / Total Funds in Category					171 / 800			189 / 637			122 / 497			100 / 205					49 / 97
Small Cap Growth Funds
RiverSource Partners Small Cap Growth Fund (2)	143.8	9/30/2008	1.79	-23.11	48	%	0.06	38	%	3.94	66	%				1/24/2001	-1.28	1/24/2001	70	%	5.75	-27.53	-1.89	2.71		-2.04
Lipper Fund Ranking / Total Funds in Category					283 / 597			185 / 494			261 / 399								208 / 300
Small Cap Value Funds
RiverSource Disciplined Small Cap Value Fund	33.2	9/30/2008	1.59	-14.48	35	%										2/16/2006	-6.02	2/16/2006	82	%	5.75	-19.39				-8.12
Lipper Fund Ranking / Total Funds in Category					104 / 304														215 / 262

^{^}   Since fund inception returns and rankings are not available.  Actual fund inception date pre-dates data in Lipper database.

⁽¹⁾ Since inception returns and rankings for periods less than one year in length are cumulative.

⁽²⁾ Mutual funds subadvised by advisors not affiliated with Ameriprise Financial, Inc.

⁽³⁾ RiverSource S&P 500 Index Fund data is for D shares.

37

Fixed Income Fund Performance & Lipper Ranking

As of September 30, 2008

Source of Data: Lipper

The performance information shown represents past performance and is not a guarantee of future results.  The investment return and principal value of your investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance information shown.  You may obtain performance information current to the most recent month-end by visiting riversource.com/funds.

				Rankings and Annualized Returns at NAV (1)																	Annualized Returns @ POP (1)
	Total Net	Total Net	Total													Fund	Since				Max. Front
	Assets	Assets	Expense	1 year			3 years			5 years			10 years			Inception	Inception	Ranking Since			Sales					Since
Class A Shares by Lipper Category	(Mil $)	Date	Ratio	Return	Ranking		Return	Ranking		Return	Ranking		Return	Ranking		Date	Return	Date	Ranking		Charge	1 year	3 years	5 years	10 years	Inception
Taxable Funds
Emerging Markets Debt Funds
RiverSource Emerging Markets Bond Fund	220.3	9/30/2008	1.33	-7.16	74	%										2/16/2006	1.89	2/16/2006	56	%	4.75	-11.57				0.01
Lipper Fund Ranking / Total Funds in Category					58 / 78														32 / 57
Equity Market Neutral Funds
RiverSource Absolute Return Currency & Income Fund	745.6	9/30/2008	1.36	-1.84	29	%										6/15/2006	4.04	6/15/2006	15	%	3	-4.78				2.66
Lipper Fund Ranking / Total Funds in Category					18 / 62														7 / 46
Global Income Funds
RiverSource Global Bond Fund	794.6	9/30/2008	1.37	-0.67	36	%	3.43	35	%	3.96	46	%	4.47	58	%	3/20/1989	7.00	3/23/1989	38	%	4.75	-5.39	1.77	2.95	3.97	6.74
Lipper Fund Ranking / Total Funds in Category					41 / 113			33 / 96			41 / 89			32 / 55					3 / 7
High Current Yield Funds
RiverSource High Yield Bond Fund	1,163.8	9/30/2008	1.13	-8.89	32	%	1.99	17	%	5.11	12	%	3.80	47	%	12/8/1983	7.47	12/8/1983	46	%	4.75	-13.22	0.34	4.10	3.29	7.26
Lipper Fund Ranking / Total Funds in Category					146 / 468			64 / 392			39 / 339			87 / 186					10 / 21
RiverSource Income Opportunities Fund	211.2	9/30/2008	1.17	-6.89	12	%	1.98	17	%	4.64	25	%				6/19/2003	4.78	6/19/2003	29	%	4.75	-11.31	0.34	3.63		3.82
Lipper Fund Ranking / Total Funds in Category					54 / 468			66 / 392			84 / 339								96 / 335
Intermediate Investment Grade Debt Funds
RiverSource Diversified Bond Fund	3,541.2	9/30/2008	0.97	-1.62	52	%	2.47	43	%	2.78	38	%	3.88	61	%	10/3/1974	8.74	10/3/1974	25	%	4.75	-6.30	0.82	1.79	3.38	8.59
Lipper Fund Ranking / Total Funds in Category					293 / 565			196 / 462			147 / 395			120 / 198					1 / 3
Loan Participation Funds
RiverSource Floating Rate Fund	431.6	9/30/2008	1.09	-8.59	61	%										2/16/2006	-0.43	2/16/2006	39	%	3	-11.33				-1.58
Lipper Fund Ranking / Total Funds in Category					46 / 75														21 / 53
Mixed-Asset Target Allocation Conservative Funds
RiverSource Income Builder Basic Income Fund	282.1	9/30/2008	1.06	-6.83	23	%										2/16/2006	2.29	2/16/2006	11	%	4.75	-11.26				0.40
Lipper Fund Ranking / Total Funds in Category					101 / 446														38 / 360
RiverSource Income Builder Moderate Income Fund	521.7	9/30/2008	1.09	-9.31	49	%										2/16/2006	1.73	2/16/2006	21	%	4.75	-13.61				-0.14
Lipper Fund Ranking / Total Funds in Category					216 / 446														73 / 360
RiverSource Income Builder Enhanced Income Fund	257.5	9/30/2008	1.18	-10.94	65	%										2/16/2006	1.23	2/16/2006	30	%	4.75	-15.17				-0.63
Lipper Fund Ranking / Total Funds in Category					288 / 446														108 / 360
Multi-Sector Income Funds
RiverSource Strategic Income Allocation Fund	172.8	9/30/2008	1.27	-4.76	48	%										5/17/2007	-3.17	5/17/2007	51	%	4.75	-9.28				-6.54
Lipper Fund Ranking / Total Funds in Category					69 / 144														69 / 135
Short-Intermediate Investment Grade Debt Funds
RiverSource Limited Duration Bond Fund	178.1	9/30/2008	1.08	-1.12	65	%	2.16	59	%	2.22	44	%				6/19/2003	1.98	6/19/2003	44	%	3	-4.09	1.12	1.60		1.40
Lipper Fund Ranking / Total Funds in Category					94 / 145			79 / 133			54 / 124								52 / 119
Short U.S. Government Funds
RiverSource Short Duration U.S. Government Fund	785.9	9/30/2008	1.04	1.41	84	%	3.19	85	%	2.29	76	%	3.16	88	%	8/19/1985	6.01	8/31/1985	17	%	3	-1.63	2.14	1.67	2.85	5.87
Lipper Fund Ranking / Total Funds in Category					73 / 86			71 / 83			58 / 76			47 / 53					1 / 5
Treasury Inflation Protected Securities Funds
RiverSource Inflation Protected Securities Fund	911.3	9/30/2008	0.93	6.21	22	%	3.97	29	%							3/4/2004	3.91	3/4/2004	30	%	3	3.03	2.92			3.22
Lipper Fund Ranking / Total Funds in Category					28 / 131			30 / 106											17 / 57
U.S. Mortgage Funds
RiverSource U.S. Government Mortgage Fund	387.7	9/30/2008	1.09	1.16	62	%	3.05	54	%	3.14	46	%				2/14/2002	3.76	2/14/2002	43	%	4.75	-3.65	1.39	2.14		3.00
Lipper Fund Ranking / Total Funds in Category					55 / 89			44 / 81			33 / 72								29 / 68
Tax-Exempt Funds
California Municipal Debt Funds
RiverSource California Tax-Exempt Fund	168.8	9/30/2008	0.88	-4.60	45	%	0.41	49	%	2.06	50	%	3.14	49	%	8/18/1986	5.24	8/31/1986	85	%	4.75	-9.13	-1.21	1.07	2.64	5.01
Lipper Fund Ranking / Total Funds in Category					54 / 120			52 / 106			50 / 100			35 / 71					17 / 19
General Municipal Debt Funds
RiverSource Tax-Exempt High Income Fund	2,349.3	9/30/2008	1.13	-6.69	80	%	-0.31	76	%	1.22	75	%	2.81	61	%	5/7/1979	6.24	5/31/1979	48	%	4.75	-11.12	-1.92	0.24	2.32	6.06
Lipper Fund Ranking / Total Funds in Category					186 / 232			162 / 213			152 / 204			91 / 149					10 / 20
RiverSource Tax-Exempt Bond Fund	628.4	9/30/2008	0.94	-5.16	68	%	0.19	65	%	1.50	66	%	2.96	54	%	11/24/1976	5.55	11/30/1976	75	%	4.75	-9.66	-1.42	0.51	2.46	5.39
Lipper Fund Ranking / Total Funds in Category					158 / 232			139 / 213			134 / 204			80 / 149					6 / 7
Intermediate Municipal Debt Funds
RiverSource Intermediate Tax-Exempt Fund	73.7	9/30/2008	0.95	-2.02	84	%	1.07	81	%	1.55	75	%	3.17	75	%	11/13/1996	3.49	11/14/1996	82	%	3	-4.96	0.05	0.93	2.86	3.23
Lipper Fund Ranking / Total Funds in Category					137 / 163			117 / 145			95 / 126			58 / 77					58 / 70
Minnesota Municipal Debt Funds
RiverSource Minnesota Tax-Exempt Fund	297.2	9/30/2008	1.06	-2.66	46	%	1.11	36	%	1.96	62	%	3.24	49	%	8/18/1986	5.40	8/31/1986	80	%	4.75	-7.28	-0.52	0.97	2.74	5.16
Lipper Fund Ranking / Total Funds in Category					19 / 41			13 / 36			22 / 35			14 / 28					4 / 4
New York Municipal Debt Funds
RiverSource New York Tax-Exempt Fund	53.1	9/30/2008	1.18	-4.27	62	%	0.60	58	%	1.65	63	%	3.09	51	%	8/18/1986	5.13	8/31/1986	89	%	4.75	-8.81	-1.02	0.67	2.59	4.90
Lipper Fund Ranking / Total Funds in Category					62 / 99			54 / 93			59 / 93			35 / 68					15 / 16

⁽¹⁾  Since inception returns and rankings for periods less than one year in length are cumulative.

38

Ameriprise Financial, Inc.

Fund Performance & Lipper Ranking

As of September 30, 2008

Source of Data:  Lipper

Important Disclosures

Rankings based on annualized total returns, excluding sales charges.  Net asset value (NAV) returns for all periods would have been lower if the applicable sales charges were included.

Please note the following about the “Ranking since” Lipper Rankings: In order to obtain a more accurate “since inception” Lipper Ranking for funds with an inception prior to 2000, the Thursday or month-end date following the actual inception date was used, rather than the actual inception date.  When researching since inception rankings, please use the “Ranking Since” date.

Please note the following about the “Annualized Returns @ POP”:  The POP return is calculated assuming a one-time purchase of the Fund at the maximum sales charge listed in the exhibit.  RiverSource S&P 500 Index Fund has no sales loads, however, a redemption fee of 0.50% is charged on shares redeemed within 180 days of purchase.

Net assets per fund include all share classes.  Assets for RiverSource Portfolio Builder Funds, RiverSource Income Builder Funds and RiverSource Retirement Plus Funds are invested in other RiverSource Funds and therefore would be double counted if assets are summed to reach a total.

Fee waivers were in place for each subadvised fund shown and the return would have been lower for each Fund had fee waivers not been in place.

An investment in money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although these funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these funds.

You should consider the investment objectives, risks, and charges and expenses of mutual funds carefully before investing. For a free prospectus, which contains this and other important information about the funds, call (800) 297-3863, TTY: (800) 846-4852.  Read the prospectus carefully before investing.

The RiverSource Global Technology Fund is a narrowly focused sector fund and it may exhibit higher volatility than funds with broader investment objectives.

Investments in small- and mid-capitalization companies often involve greater risk and potential volatility than investments in larger, more established companies.

The RiverSource Precious Metals Fund is a narrowly focused sector fund and it may exhibit higher volatility than funds with broader investment objectives.

The RiverSource Real Estate Fund is a narrowly focused sector fund and it may exhibit higher volatility than funds with broader investment objectives. An investment in a real estate fund is subject to the same risks as a direct investment in real estate. Such risks include market risk, economic risk and mortgage rate risk.

International investing involves increased risk and volatility, not typically associated with domestic investing, due to changes in currency exchange rates, foreign government regulations, differences in auditing and accounting standards, potential political and economic instability, limited liquidity and volatile prices. The risks of international investing are particularly significant in emerging markets.

There are risks associated with an investment in a bond fund, including the impact of interest rates, credit and inflation. These and other risk considerations are discussed in the fund’s prospectus. In general, bond prices rise when interest rates fall and vice versa. This effect is usually more pronounced for longer-term securities. Non-investment grade securities, commonly called “high-yield” or “junk” bonds,  generally have more volatile prices and carry more risk to principle and income than investment grade securities.

High yield funds invest in lower-rated bonds, which generally have more volatile prices and carry more risk to principal and income than investment grade securities.

Principal risks associated with the RiverSource Inflation Protected Securities Fund include style risk, interest rate risk, market risk, credit risk, liquidity risk and sector/concentration risk. Treasury Inflation Protected Securities (TIPS) are backed by the full faith and credit of the U.S. government. The U.S. government guarantee applies only to the underlying TIPS securities, and not the Fund itself.

Income from tax-exempt funds may be subject to state and local taxes, and a portion of income may be subject to the federal and/or state alternative minimum tax for certain investors. Federal income tax rules will apply to any capital gains distribution.

39

Important Disclosures - continued

Shares of the RiverSource Short Duration U.S. Government Fund and the RiverSource U.S. Government Mortgage Fund are not insured or guaranteed by the U.S. government.

The Floating Rate Fund invests primarily in floating rate loans, the market value of which may fluctuate, sometimes rapidly and unpredictably.  The principal risks of investing in the fund include liquidity risk, interest rate risk, credit risk, counterparty risk, highly leveraged transactions risk, derivatives risk, confidential information access risk, and impairment of collateral risk. Generally, when interest rates rise, the prices of fixed income securities fall, however, securities or loans with floating interest rates can be less sensitive to interest rate changes, but they may decline in value if their interest rates do not rise as much as interest rates in general.  Limited liquidity may affect the ability of the fund to purchase or sell floating rate loans and may have a negative impact on fund performance.  The floating rate loans and securities in which the fund invests generally are lower-rated (non-investment grade) and are more likely to experience a default, which results in more volatile prices and more risk to principal and income than investment grade loans or securities. See the Fund’s prospectus for information on these and other risks associated with the Fund.

The RiverSource Portfolio Builder Funds, RiverSource Income Builder Funds and RiverSource Retirement Plus Funds are “funds of funds” comprised of holdings in several different RiverSource funds, which may include small cap, mid cap, large cap, money market, international, bond and/or other sector funds. Specific risk considerations are discussed in each fund’s prospectus. Each of the underlying funds in which the portfolio invests has its own investment risks, and those risks can affect the value of each portfolio’s shares and investments. See each fund’s prospectus for specific risks that may be associated with the underlying funds.

“Standard & Poor’s®,” “S&P,” “S&P 500®,” and “Standard & Poor’s 500®” are trademarks of the McGraw-Hill Companies, Inc. These trademarks and service marks have been licensed for use by RiverSource Investments. The Funds are not sponsored, endorsed, sold or promoted by Standard & Poor’s or any of their subsidiaries or affiliates (the “Licensors”) and the Licensors make no representation regarding the advisability of investing in the Funds.

Investment products are not federally or FDIC insured, are not deposits or obligations of, or guaranteed by any financial institution; and involve investment risks including possible loss of principal and fluctuation in value.

RiverSourceSM mutual funds are distributed by RiverSource Distributors, Inc. and Ameriprise Financial Services, Inc., Members FINRA, and managed by RiverSource Investments, LLC.   These companies are part of Ameriprise Financial, Inc.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Ameriprise Bank, FSB, member FDIC, provides certain deposit and lending products and services for Ameriprise Financial Services, Inc. Ameriprise Bank, FSB deposit products are FDIC-insured up to $100,000 per customer.

RiverSource Distributors, Inc. (Distributor), Member FINRA. Insurance and annuity products are issued by RiverSource Life Insurance Company, and in New York only by RiverSource Life Insurance Co. of New York, Albany, NY. Only RiverSource Life Insurance Co. of New York is authorized to sell insurance products in the state of NY.

RiverSource Investments employs Threadneedle as a sub-advisor and offers its institutional strategies on a referral basis. Securities products offered through RiverSource Distributors, Inc., Member FINRA. These companies are a part of Ameriprise Financial, Inc.

RiverSource Investments, LLC is an SEC-registered investment adviser that offers investment products and services under the names RiverSource Institutional Advisors, RiverSource Alternative Investments, RiverSource Capital Management and RiverSource Insurance Assets.  RiverSource Investments LLC also serves as the Investment Manager for the RiverSource mutual funds.

Ameriprise Certificates are issued by Ameriprise Certificate Company and distributed by Ameriprise Financial Services, Inc. Member FINRA.

Ameriprise Auto & Home Insurance issues auto, home and umbrella insurance underwritten by AMEX Assurance Company (AMEX Assurance) or IDS Property Casualty Insurance Company (IDS Property Casualty), DePere, WI.

Mortgages and home equity loans are provided by Ameriprise Bank, FSB, an FDIC-insured federal savings bank. Ameriprise Bank, FSB, an Equal Housing Lender, is an Ameriprise Financial Services, Inc. company.

These companies, including Securities America, Inc., Member FINRA, are all affiliated with Ameriprise Financial, Inc.

40

Exhibit B

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Reconciliation Tables

41

Ameriprise Financial, Inc.

Reconciliation Table: Adjusted Pretax Income and Adjusted Earnings

Third Quarter 2008

												Year-to-Date
(in millions unless otherwise noted, unaudited)	3 Qtr 2007		4 Qtr 2007		1 Qtr 2008		2 Qtr 2008		3 Qtr 2008			2007		2008
Adjusted Pretax Income (Loss) (1)
Pretax income (loss)	$	217	$	338	$	195	$	237	$	(162	)	$	678	$	270
Separation costs	60		28		—		—		—			208		—
Adjusted pretax income (loss)	$	277	$	366	$	195	$	237	$	(162	)	$	886	$	270
Adjusted Earnings (1)
Net income (loss)	$	198	$	255	$	191	$	210	$	(70	)	$	559	$	331
Separation costs, after-tax (2)	39		19		—		—		—			135		—
Adjusted earnings (loss)	$	237	$	274	$	191	$	210	$	(70	)	$	694	$	331

(1)See non-GAAP Financial Information.

(2)For this non-GAAP presentation, after-tax separation costs are calculated using the statutory tax rate of 35%.

42

Ameriprise Financial, Inc.

Return on Equity Calculation

Third Quarter 2008

(in millions, unaudited)		ROE (1)			Adjustments			Adjusted ROE (2)
Return on Equity Calculation for the Twelve Months Ended:
September 30, 2007
	Return	$	730		$	215		$	945
	Equity	$	7,753		$	(102	)	$	7,651
	Return on Equity	9.4		%				12.4		%
December 31, 2007
	Return	$	814		$	154		$	968
	Equity	$	7,765		$	(58	)	$	7,707
	Return on Equity	10.5		%				12.6		%
March 31, 2008
	Return	$	840		$	99		$	939
	Equity	$	7,696		$	(29	)	$	7,667
	Return on Equity	10.9		%				12.2		%
June 30, 2008
	Return	$	854		$	58		$	912
	Equity	$	7,613		$	(12	)	$	7,601
	Return on Equity	11.2		%				12.0		%
September 30, 2008
	Return	$	586		$	19		$	605
	Equity	$	7,436		$	(2	)	$	7,434
	Return on Equity	7.9		%				8.1		%

(1)Return on equity is calculated using the trailing twelve months income in the numerator and equity, calculated using a five point average of quarter-end equity, in the denominator.

(2)Adjusted return on equity is calculated using adjusted earnings (excluding non-recurring separation costs) in the numerator, and equity excluding the equity allocated to expected non-recurring separation costs as of the last day of the preceding four quarters and the current quarter in the denominator.

43

Exhibit C

Statistical Supplement Package

(unaudited)

Third Quarter 2008

Disclosed Items

44

Ameriprise Financial, Inc.

Disclosed Items

Third Quarter 2008

	Asset Management			Annuities						Protection
				Valuation Assumption,						Valuation Assumption,
				System Conversion			VA Rider			System Conversion			Consolidated
(in millions, unaudited)	EITF 04-5 (2)			and Market (1)			Impact (3)			and Market (1)			Income Tax (4)		Consolidated
Revenues
Management and financial advice fees	$	(1	)	$	—		$	—		$	—		$	—	$	(1	)
Distribution fees	—			—			—			—			—		—
Net investment income	(1		)	—			—			—			—		(1		)
Premiums	—			—			—			2			—		2
Other revenues	(12		)	—			—			95			—		83
Total revenues	(14		)	—			—			97			—		83
Banking and deposit interest expense	—			—			—			—			—		—
Total net revenues	(14		)	—			—			97			—		83
Expenses
Distribution expenses	—			(1		)	—			—			—		(1		)
Interest credited to fixed accounts	—			—			—			—			—		—
Benefits, claims, losses and settlement expenses	—			(41		)	(27		)	(43		)	—		(111		)
Amortization of deferred acquisition costs	—			26			13			94			—		133
Interest and debt expense	—			—			—			—			—		—
General and administrative expense	(14		)	—			—			—			—		(14		)
Total expenses	(14		)	(16		)	(14		)	51			—		7
Pretax income	$	—		$	16		$	14		$	46		$	—	$	76
Income tax benefit													$	14	$	14

(1)	Net impact of annual review/updating of valuation assumptions, conversion to new valuation system and market performance
(2)	In accordance with EITF04-5, reflects consolidation of property fund limited partnerships managed by Threadneedle and hedge fund partnerships managed by RiverSource
(3)	Variable annuity riders hedge impact excluding DAC unlocking, including $3 million loss on derivatives related to Lehman Brothers as disclosed in Securities Losses on page 46.
(4)	Income Tax impact of finalizing prior period tax returns

45

Ameriprise Financial, Inc.

Unprecedented Credit Market Dislocation Impacts

Third Quarter 2008

	Consolidated
				Costs associated with
							Unaffiliated
	Securities			RiverSource			Money Market
(in millions, unaudited)	Losses(1)			2a-7 Fund (2)			Fund (3)			Total
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—
Distribution fees	—			—			(12		)	(12		)
Net investment income	—			—			—			—
Realized Losses	(317		)	—			—			(317		)
Other	(5		)	(11		)	—			(16		)
Premiums	—			—			—			—
Other revenues	—						—			—
Total revenues	(322		)	(11		)	(12		)	(345		)
Banking and deposit interest expense	—			—			—			—
Total net revenues	(322		)	(11		)	(12		)	(345		)
Expenses
Distribution expenses	—			—			—			—
Interest credited to fixed accounts	—			—			—			—
Benefits, claims, losses and settlement expenses	5			—			—			5
Amortization of deferred acquisition costs	—			—			—			—
Interest and debt expense	—			—			—			—
General and administrative expense	—			77			36			113
Total expenses	5			77			36			118
Pretax income (loss)	$	(327	)	$	(88	)	$	(48	)	$	(463	)
Tax Effected at 35%	$	(213	)	$	(57	)	$	(31	)	$	(301	)

(1)	Credit market losses, as detailed in our Q3 2008 earnings release
(2)	Expenses to support $1 Net Asset Value of RiverSource money market mutual funds that held Lehman Brothers commercial paper
(3)	Expenses related to unaffiliated money market funds, including client support and write-offs of related receivables

46

Ameriprise Financial, Inc.

Disclosed Items

Second Quarter 2008

	Advice & Wealth Management			Asset Management			Annuities						Protection						Corporate		Consolidated
	Investment						Investment						Investment						Investment
(in millions, unaudited)	Losses(2)			EITF 04-5 (1)			Losses(2)			DAC/DSIC (3)			Losses(2)			DAC/DSIC (3)			Losses(2)		Tax Impact (4)		Consolidated
Revenues
Management and financial advice fees	$			$	—		$	—		$	—		$	—		$	—		$	—	$	—	—
Distribution fees				—			—			—			—			—			—		—		—
Net investment income	(21		)	1			(5		)	—			(1		)	—			—		—		(26		)
Premiums				—			—			—			—			—			—		—		—
Other revenues				(4		)	—			—			—			—			—		—		(4		)
Total revenues	(21		)	(3		)	(5		)	—			(1		)	—			—		—		(30		)
Banking and deposit interest expense	—			—			—			—			—			—			—		—		—
Total net revenues	(21		)	(3		)	(5		)	—			(1		)	—			—		—		(30		)
Expenses
Distribution expenses				—			—			—			—			—			—		—		—
Interest credited to fixed accounts				—			—			—			—			—			—		—		—
Benefits, claims, losses and settlement expenses				—			—			1			—			—			—		—		1
Amortization of deferred acquisition costs				—			—			9			—			1			—		—		10
Interest and debt expense				—			—			—			—			—			—		—		—
General and administrative expenses				(3		)	—			—			—			—			—		—		(3		)
Total expenses	—			(3		)	—			10			—			1			—		—		8
Pretax income (loss)	$	(21	)	$	—		$	(5	)	$	(10	)	$	(1	)	$	(1	)	$	—	$	—	$	(38	)
Tax Benefit																					$	27	$	27

(1)	In accordance with EITF 04-5, reflects consolidation of property fund limited partnerships managed by Threadneedle and hedge fund limited partnerships managed by RiverSource
(2)	Pretax realized net investment gains and (losses)
(3)	Market impact on DAC and DSIC
(4)	Exceptional tax adjustments

47

Ameriprise Financial, Inc.

Disclosed Items

Third Quarter 2007

	Annuities										Protection
				Loan Provision		VA Riders			Investment					Investment		Consolidated
(in millions, unaudited)	DAC (1)			Reserve (2)		Impact (3)(6)			Gains (4)		DAC (1)(6)			Gains (4)		Income Tax (5)		Consolidated
Revenues
Management and financial advice fees	$	—		$	—	$	—		$	—	$	—		$	—	$	—	$	—
Distribution fees	—			—		—			—		—			—		—		—
Net investment income	—			21		—			12		—			3		—		36
Premiums	—			—		—			—		—			—		—		—
Other revenues	—			—		—			—		—			—		—		—
Total revenues	—			21		—			12		—			3		—		36
Banking and deposit interest expense	—			—		—			—		—			—		—		—
Total net revenues	—			21		—			12		—			3		—		36
Expenses
Distribution expenses	—			—		—			—		—			—		—		—
Interest credited to fixed accounts	—			—		—			—		—			—		—		—
Benefits, claims, losses and settlement expenses	3			—		63			—		11			—		—		77
Amortization of deferred acquisition costs	(4		)	—		(28		)	—		20			—		—		(12		)
Interest and debt expense	—			—		—			—		—			—		—		—
General and administrative expense	—			—		—			—		—			—		—		—
Total expenses	(1		)	—		35			—		31			—		—		65
Pretax income (loss)	$	1		$	21	$	(35	)	$	12	$	(31	)	$	3	$	—	$	(29	)
Income tax benefit																$	21	$	21

(1)	Impact of annual review/unlocking of valuation assumptions
(2)	Loan provision reserve adjustment for commercial real estate loans
(3)	Variable Annuity Riders hedge impact excluding DAC unlocking
(4)	Pretax realized net investment gains and (losses)
(5)	Income Tax impact of APB 23
(6)	VA Riders Impact and Protection segment DAC have been restated to conform to current presentation. Net effect is unchanged.

48