Great-West Financial® wins Lipper Award

Great-West Aggressive Profile II Fund takes top honors in two performance periods

GREENWOOD VILLAGE, Colorado., March 23, 2016 — Great–West Financial today announced that Great–West Aggressive Profile II Fund has received a Lipper Fund Award as the top performing fund in the Mixed–Asset Target Allocation Aggressive Growth Funds category for five– and 10–year periods, ending Nov. 30, 2015.

The Lipper Fund Awards, announced March 22 in New York City, honor individual mutual funds that excel in delivering consistently strong, risk–adjusted performance relative to their peers.

"Our goal is to provide clients with excellent investment performance designed to help them achieve their long–term financial objectives," said Robert L. Reynolds, President and Chief Executive Officer of Great–West Financial. "Great–West Financial is pleased to be recognized by the Lipper organization, which has long set the bar of excellence in our industry."

Great West Aggressive Profile II Fund — Great–West Aggressive Profile II Fund (MXAPX) seeks long–term capital appreciation primarily through investment in underlying funds that emphasize equity investments. The fund received the top honor for the five–year period out of 121 funds and the 10–year period out of 86 funds in the Mixed–Asset Target Allocation Aggressive Growth Funds category.

About the Lipper Fund Awards — The Lipper Fund Awards program honors funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. The Lipper Fund Awards take place in more than 20 countries in Asia, Europe, MENA, and the Americas. The award winners are formally announced between January and April. Ceremonies take place in select countries.

About Great-West Financial

Great-West Financial® is a registered mark of Great-West Life & Annuity Insurance Company. It is an indirect, wholly owned subsidiary of Great-West Lifeco Inc. and "A Member of the Power Financial Corporation Group of Companies ®." Established nearly 125 years ago, Great West Financial manages a total of $465 billion in assets for 7.9 million retirement, insurance and annuity customers.1 Great–West Financial is also the No. 2 underwriter of life insurance sold through banks2 and No.3 in bank-owned life insurance sales.3 Empower Retirement, Great–West Financial's retirement arm, is the nation's second-largest retirement plan record keeper by total participants.

1As of June 30, 2015
2BISRA Life Report, Fourth Quarter 2014, based on total premiums at Dec. 31, 2014
3IBIS Associates, 2014
4PLANSPONSOR June, 2015

Investment risk:
Great-West Aggressive Profile II Fund:

Asset allocation investment options are subject to the risks of the underlying funds, which can be a mix of domestic and international stock funds. For more information, see the prospectus.

Please consider the investment objectives, risks, fees and expenses carefully before investing. For this and other important information about the funds, you may obtain mutual fund prospectuses from your registered representative or www.greatwestfunds.com. Read them carefully before investing.

Shares of the series of Great–West Funds, Inc. are not available to the general public but are offered only to insurance company separate accounts for certain variable annuity contracts and variable life policies, to individual retirement account (IRA) custodians or trustees, to plan sponsors of qualified retirement plans, and to college savings programs.

The principal underwriter of Great–West Funds, Inc. is its affiliate GWFS Equities, Inc., Member FINRA/SIPC. The Great–West Profile Funds are managed by Great–West Capital Management, LLC (GWCM), an affiliate of Great–West Funds, Inc., and may invest in other funds advised by GWCM, funds that are sub–advised by affiliated and unaffiliated sub–advisers retained by GWCM, funds that are advised by affiliated and unaffiliated investment advisers of GWCM, and in a fixed interest contract issued and guaranteed by Great-West Life & Annuity Insurance Company (GWL&A). Great-West Funds, Inc., GWCM and GWFS Equities, Inc. are subsidiaries of GWL&A.

Certain Great–West Funds are managed by sub–advisers who manage other mutual funds having similar names and investment objectives. While their investment management may be similar to, or modeled after, those other mutual funds, the Great–West Funds are not directly related to any other mutual funds. Consequently, the investment performance and other features of other mutual funds and any similarly named Great-West Fund may differ substantially.

Great–West Financial® refers to products and services provided by Great-West Life & Annuity Insurance Company (GWL&A), Corporate Headquarters: Greenwood Village, CO, its subsidiaries and affiliates. Data on insurance and recordkeeping reflects consolidated information from GWL&A and its subsidiaries. The trademarks, logos and registered marks used are owned by GWL&A. "A Member of the Power Financial Corporation Group of Companies" is the registered mark of Power Corporation of Canada.

Media Contact:

Stephen Gawlik – Office: 303-737-0899; Cell: 617-417-4408