SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT



                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


                        Date of Report: November 30, 2001
                        (Date of earliest event reported)





                         PRINCIPAL FINANCIAL GROUP, INC.
             (Exact name of registrant as specified in its charter)


          Delaware                 1-16725               42-1520346
(State or other jurisdiction      Commission          (I.R.S. Employer
      of incorporation)           file number      Identification Number)


                     711 High Street, Des Moines, Iowa 50392
                    (Address of principal executive offices)


              (Registrant's telephone number, including area code)
                                 (515) 247-5111

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Item 7. Exhibits.

99.1 Press Release of Principal Financial Group, Inc., dated November 30, 2001.


Item 9. Regulation FD Disclosure.

On November 30, 2001,  Principal Financial Group, Inc., a Delaware  corporation,
issued a press release,  a copy of which is attached  hereto as Exhibit 99.1 and
incorporated herein by reference pursuant to Regulation FD.








                                    SIGNATURE

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.


                             PRINCIPAL FINANCIAL GROUP, INC.


                             By:   /s/ Michael H. Gersie
                                   -------------------------------------------
                             Name:   Michael H. Gersie
                             Title:  Executive Vice President and
                                     Chief Financial Officer



Date:  November 30, 2001





                                  EXHIBIT INDEX

Exhibit
Number          Exhibit
- -------         -------
99.1            Press Release, dated November 30, 2001.


                               Exhibit Number 99.1

RELEASE:        On receipt
MEDIA CONTACTS: Jeff Rader, 515-247-7883, rader.jeff@principal.com
                Eva Quinn, 515-247-7468, quinn.eva@principal.com



            PRINCIPAL FINANCIAL GROUP, INC. REVIEWING ENRON EXPOSURE

Des Moines,  IA (November 30, 2001) -- Principal  Financial  Group,  Inc. (NYSE:
PFG) announced  today that it is reviewing its exposure to Enron.  The amount of
exposure to Enron held by The Principal(R) is approximately  $171 million,  with
approximately  $92 million of that amount in secured  issuances of Enron-related
entities.  The Principal  expects to take a write-down in the fourth  quarter of
2001 related to Enron exposure. The company is working to determine actual loss,
but cannot at this time provide an estimate of the impairment.

The Principal is also reviewing  additional  exposure of $50 million  associated
with  investments  in  Enron-related  entities  Florida  Gas  Transmission  Co.,
Centragas Project and Portland General Electric. However, The Principal does not
expect any material write-down associated with these investments.

Forward looking and cautionary statements

This release  contains  certain  statements  which are not historical  facts and
which constitute  forward-looking  statements  within the meaning of the Private
Securities  Litigation  Reform  Act  of  1995,  including,  without  limitation,
statements as to sales  targets,  sales and earnings  trends,  and  management's
beliefs,  expectations,  goals and  opinions.  These  statements  are based on a
number of assumptions  concerning future conditions that may ultimately prove to
be  inaccurate.  Future events and their effects on the company may not be those
anticipated,   and  actual  results  may  differ  materially  from  the  results
anticipated in these forward-looking  statements.  The risks,  uncertainties and
factors  that  could  cause  or  contribute  to such  material  differences  are
discussed  in the  company's  registration  statement  on Form S-1  filed by the
company  with  the   Securities  and  Exchange   Commission.   These  risks  and
uncertainties include,  without limitation:  competitive factors;  volatility of
financial  markets;  decrease in ratings;  interest rate  changes;  inability to
attract and retain sales representatives;  international business risks; foreign
currency exchange rate fluctuations; and investment portfolio risks.

About the Principal Financial Group

The Principal  Financial  Group(R)  (www.principal.com)  is a leader in offering
businesses,  individuals  and  institutional  clients a wide range of  financial
products and services,  including retirement and investment  services,  life and
health  insurance and mortgage  banking  through its diverse family of financial
services  companies.  More employers  choose the Principal  Financial Group (The
Principal  (R))(1) for their 401(k) plans than any other bank,  mutual fund,  or
insurance  company in the United  States(2).  Its flagship  and largest  member,
Principal Life Insurance  Company,  was founded in 1879. A member of the Fortune
500,  the  Principal   Financial  Group  has  $112.3  billion  in  assets  under
management(3)  and serves some 13 million  customers  worldwide  from offices in
Asia, Australia, Europe, Latin America and the United States.

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(1)  "The  Principal"  is a  registered  trademark  referring  to the  Principal
     Financial Group.
(2)  CFO  Magazine,  April/May  2001,  based on total  plans  served  in 2000 by
     insurance companies, banks and investment firms.
(3)  As of September 30, 2001.