Money Market 
Fund Overview
Adviser: Mason Street Advisors, LLC
Objective: To generate maximum current income consistent with liquidity and stability of capital.
Focus: Provide stability, particularly during periods of high volatility in other sectors of the market, by investing in high-quality money market instruments and other short-term debt securities with maturities generally not exceeding one year.
Asset Class: Cash
Style: High Quality, Short Maturity
An investment in the Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Money Market Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Fund Facts as of 12/31/09
Variable Annuity Fund Inception 12-31-1981
Variable Life Fund Inception 07-01-1984
The original Variable Annuity and Variable Life funds merged on 05-03-1994.
Net Assets $570.86 Million
Download Publicly Disclosed Holdings

Investment Strategy:
The Money Market Portfolio will attempt to maximize its return by trading to take advantage of changing money market conditions and trends. The Money Market Portfolio will also trade to take advantage of what are believed to be disparities in yield relationships between different money market instruments. This procedure may increase or decrease the Portfolio's yield depending upon management's ability to correctly time and execute such transactions. The Money Market Portfolio intends to purchase only securities that mature within a year. Accordingly, the level of purchases will be relatively high. However, as transaction costs on Money Market Portfolio investments are generally not substantial, the high level of purchases will not adversely affect the Portfolio's net asset value or net income.

Portfolio Manager:
Brian Yeazel, CFA, is a Director at Mason Street Advisors and is responsible for all fixed income trading and portfolio management of money market investments and security lending. Mr. Yeazel received a BS degree and an MBA degree from the University of Wisconsin-Madison. He has 17 years of investment experience.

You should carefully consider the investment objectives, risks, expenses and charges of the investment company before you invest. Your Northwestern Mutual Investment Services Registered Representative can provide you with a contract and fund prospectus that will contain the information noted above, and other important information that you should read carefully before you invest or send money.

Mason Street Advisors, LLC (MSA) is the principal investment adviser for all the Portfolios in the Northwestern Mutual Series Fund (Series Fund). (Portfolios in the Series Fund are identified by the parenthetical next to the portfolio name.) MSA has engaged and oversees sub-advisers who provide day-to-day management for certain of the Series Fund Portfolios. Each sub-adviser may be replaced without the approval of shareholders. Please see the prospectus for more information. Additional fund options are advised by Russell Investments, Fidelity Investments® and Neuberger Berman Management, Inc.

All securities are offered through Northwestern Mutual Investment Services LLC, (NMIS), Suite 600, 611 E. Wisconsin Avenue, Milwaukee, WI 53202, 1-866-664-7737. Member FINRA and SIPC. NMIS is wholly owned by Northwestern Mutual.

NMFN-S16 (0601)