NATIONWIDE LIFE INSURANCE COMPANY

[ONE NATIONWIDE PLAZA

COLUMBUS, OHIO 43215]

MARKET VALUE ADJUSTMENT (MVA) ENDORSEMENT

To Individual Single Purchase Payment Deferred Annuity Contract with Index-Linked Strategies

GENERAL INFORMATION REGARDING THIS ENDORSEMENT

This Market Value Adjustment (MVA) Endorsement (the “Endorsement”) is made part of the Contract to which it is attached and is effective as of the Date of Issue.

To the extent any provisions contained in this Endorsement are contrary to or inconsistent with those of the Contract, the Endorsement will control the Contract. Terms not defined in this Endorsement have the meaning given to them in the Contract.

DEFINITIONS

Market Value Reference Rate – On any given day, the yield of the MVA Index as shown on the Endorsement Specifications Page. The Market Value Reference Rate as of the Date of Issue is equal to the Initial Market Value Reference Rate, which is shown on the Endorsement Specifications Page. The daily Market Value Reference Rate thereafter will be available from Nationwide. If the daily Market Value Reference Rate is not available on any day for which a value is needed, Nationwide will use the Market Value Reference Rate for the previous Business Day.

MVA Base – The greater of zero, and the Gross Withdrawal minus the Remaining Preferred Withdrawal Amount.

MVA Period – The length of time beginning on the Date of Issue that Nationwide may apply the MVA to partial withdrawals and a full surrender. The MVA Period is listed on the Endorsement Specifications Page.

ENDORSEMENT PROVISIONS

Market Value Adjustment (MVA)

Except as otherwise provided in the Contract, the MVA is applicable to any portion of a Non-Preferred Withdrawal taken during the MVA Period. Nationwide will apply the MVA to the Gross Withdrawal, which will affect the Cash Withdrawal if the MVA is not equal to zero. If the MVA is a negative value, the MVA will decrease the Cash Withdrawal. If the MVA is a positive value, the MVA will increase the Cash Withdrawal. If the MVA is zero, the MVA will not affect the Cash Withdrawal.

MVA Calculation

The amount of the MVA is calculated as follows:

MVA = MVA Base x MVA Factor, where:

MVA Factor = MVA Scaling Factor x (A – B) x N/12, where:

The MVA Scaling Factor is shown on the Endorsement Specifications Page.

Market Value Reference Rate

If the Market Value Reference Rate becomes no longer available, or if Nationwide, at its sole discretion, determines that the Market Value Reference Rate is no longer appropriate for the purposes described in this Endorsement, Nationwide will substitute another method of determining the values, subject to any required approval by the appropriate state insurance department, and will notify the Contract Owner of such change at the Contract Owner’s last known address.

Executed for Nationwide on the Date of Issue by:

Secretary		President

MARKET VALUE ADJUSTMENT (MVA) ENDORSEMENT SPECIFICATIONS PAGE

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