Company Press Release

PITTSBURGH, April 29 /PRNewswire-FirstCall/ -- Federated Investors, Inc. (NYSE: FII), one of the nation's largest investment managers, today announced that Nationwide Mutual Funds has selected Federated to sub-advise three Nationwide money market mutual funds representing approximately $5.6 billion in combined assets, effective April 2, 2009. Federated is providing subadvisory services for the Nationwide Money Market Fund, the NVIT Money Market Fund and the NVIT Money Market Fund II.

All three taxable money market funds seek current income consistent with preserving capital by investing in investment-grade fixed-income securities including commercial paper, asset-backed commercial paper and other fixed-income securities issued by U.S. and foreign corporations; U.S. government securities and U.S. government agency securities; obligations of foreign governments; and obligations of U.S. banks, foreign banks and U.S. branches of foreign banks.

With more than 30 years of experience in the money market fund industry, Federated's goal is to preserve principal, maintain liquidity and provide competitive yields. Federated manages money market portfolios with a conservative bias, emphasizing experienced portfolio management and stringent credit research that includes a review of capital structure, liquidity structure, management structure and other key factors before investing in any issuer.

About Federated

Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing $409.2 billion in assets as of March 31, 2009. With 158 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to nearly 5,400 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.

About Nationwide Funds Group

Nationwide Funds Group (NFG) is the mutual fund arm of Nationwide Financial Services, Inc. (NFS), a leading provider of long-term savings and retirement products. Based in Conshohocken, Pa., a suburb of Philadelphia, Nationwide Funds comprises Nationwide Fund Advisors, Nationwide Fund Distributors LLC and Nationwide Fund Management LLC. Together they provide advisory, distribution and administration services, respectively, to the Nationwide Funds, and manage more than $32 billion in assets as of December 31, 2008, of which approximately $9 billion are in "funds of funds" designed to provide asset allocation across several types of investments and asset classes. NFS is a wholly owned subsidiary of Nationwide Corporation. All of the common stock of Nationwide Corporation is held by Nationwide Mutual Insurance Company (95.2%) and Nationwide Mutual Fire Insurance Company (4.8%), each of which is a mutual company owned by its policyholders.

About Nationwide Financial

Nationwide Financial Services, Inc. (NFS), based in Columbus, Ohio, provides a variety of financial services that help consumers invest and protect their long-term assets, and offers retirement plans and services through both public- and private-sector employers.

NFS is part of the Nationwide(R) group of companies, which offers diversified insurance and financial services. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 108 on the Fortune 500* based on 2007 revenue. For more information, visit www.nationwide.com. For more information about Nationwide Funds(R), please visit http://www.nationwide.com/mutualfunds.