Nationwide Variable Account 13

N-30D 1 dn30d.htm NATIONWIDE VARIABLE ACCOUNT 13 Nationwide Variable Account 13

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NATIONWIDE^®

VARIABLE

ACCOUNT-13

Annual Report

Contract Owners

December 31, 2007

NATIONWIDE LIFE INSURANCE COMPANY

HOME OFFICE: COLUMBUS, OHIO

APO–5398–12/07

NATIONWIDE VARIABLE ACCOUNT-13

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY

December 31, 2007


Assets:

Investments at fair value:

AIM VIF – Capital Development Fund – Series I (AIMCapDev) 36,736 shares (cost $623,084)	$	692,481

AllianceBernstein VPS – International Value Portfolio – Class A (AlVIntlValA) 1,892 shares (cost $32,011)		47,577

AllianceBernstein VPS – Small/Mid Cap Value Portfolio – Class A (AlVSmMdCpA) 50 shares (cost $957)		860

American Century VP – Inflation Protection Fund – Class II (ACVPInflPro2) 201,730 shares (cost $2,077,718)		2,128,253

American Century VP – Mid Cap Value Fund – Class I (ACVPMdCpV) 833 shares (cost $11,914)		10,781

American Century VP – Value Fund – Class I (ACVPVal) 12,814 shares (cost $105,612)		95,719

American Century VP – Vista^SM Fund – Class I (ACVPVista1) 571 shares (cost $11,844)		12,553

Dreyfus IP – Small Cap Stock Index Portfolio – Service Shares (DryIPSmCap) 465 shares (cost $8,883)		8,202

Dreyfus Stock Index Fund, Inc. – Initial Shares (DryStkIx) 5,950 shares (cost $213,051)		222,536

Dreyfus VIF – Appreciation Portfolio – Initial Shares (DryVApp) 23,565 shares (cost $924,075)		1,057,104

Federated IS – Quality Bond Fund II – Primary Shares (FedQualBd) 3,274 shares (cost $36,258)		37,128

Fidelity^®VIP – Equity-Income Portfolio – Service Class (FidVIPEIS) 2,452 shares (cost $61,964)		58,413

Fidelity^®VIP – Money Market Portfolio – Service Class 2 (FidVIPMMktS2) 398,436 shares (cost $398,436)		398,436

Fidelity^®VIP – Overseas Portfolio – Service Class R (FidVIPOvSR) 46,476 shares (cost $946,368)		1,170,718

Fidelity^®VIP II – Contrafund^®Portfolio – Service Class (FidVIPConS) 3,854 shares (cost $122,956)		107,135

Fidelity^®VIP II – Investment Grade Bond Portfolio – Service Class (FidVIPIGBdS) 5,869 shares (cost $73,753)		74,354

Fidelity^®VIP III – Mid Cap Portfolio – Service Class (FidVIPMCapS) 4,095 shares (cost $143,819)		147,331

Franklin Templeton VIP – Developing Markets Securities Fund – Class 2 (FrVIPDevMrk2) 848 shares (cost $9,425)		13,561

Franklin Templeton VIP – Developing Markets Securities Fund – Class 3 (FrVIPDevMrk3) 35,186 shares (cost $427,938)		561,561

Franklin Templeton VIP – Foreign Securities Fund – Class 2 (FrVIPForSec2) 1,424 shares (cost $23,341)		28,829

Franklin Templeton VIP – Foreign Securities Fund – Class 3 (FrVIPForSec3) 30,451 shares (cost $500,301)		614,510

Franklin Templeton VIP – Global Income Securities Fund – Class 3 (FrVIPGlInc3) 2,738 shares (cost $44,901)		45,745

Franklin Templeton VIP – Growth Securities Fund – Class 2 (FrVIPGroSec2) 1,524 shares (cost $18,115)		23,534

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13

STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS’ EQUITY, Continued


Franklin Templeton VIP – Small Cap Value Securities Fund – Class 2 (FrVIPSCapV2) 2,665 shares (cost $38,908)	$	45,575
Janus Aspen Series – Balanced Portfolio – Service Shares (JAspBal) 409 shares (cost $12,197)		12,705
Janus Aspen Series – Forty Portfolio – Service Shares (JAspForty) 36,677 shares (cost $1,087,702)		1,496,419
Janus Aspen Series – International Growth Portfolio – Service II Shares (JAspIntGroS2) 1,564 shares (cost $77,185)		101,304
Lord Abbett Series Fund, Inc. – Mid-Cap Value Portfolio – Class VC (LrdMidCapV) 30,363 shares (cost $651,955)		573,855
Lord Abbett Series Growth and Income Fund – Class VC (LrdGroInc) 3,931 shares (cost $112,812)		109,703
MFS VIT – Value Series – Service Class (MFSValueS) 125,456 shares (cost $1,786,717)		1,896,889
Neuberger Berman AMT – Fasciano Portfolio – S Class Shares (NBTAFasc) 36,606 shares (cost $511,452)		530,790
Neuberger Berman AMT – International Portfolio – Class S (NBTAInt) 85,302 shares (cost $1,204,881)		1,160,965
Oppenheimer VAF – Capital Appreciation Fund – Non-Service Shares (OppCapAp) 36,094 shares (cost $1,394,870)		1,702,911
Oppenheimer VAF – Global Securities Fund – Class 3 (OppGlSec3) 1,671 shares (cost $59,313)		61,532
Oppenheimer VAF – High Income Fund – Class 3 (OppHighInc3) 596 shares (cost $4,973)		4,758
Oppenheimer VAF – High Income Fund – Non-Service Shares (OppHighInc) 8,561 shares (cost $71,365)		68,062
Oppenheimer VAF – Main Street Small Cap Fund^® – Non-Service Shares (OppMStSCap) 74,363 shares (cost $1,271,185)		1,353,410
PIMCO VIT – High Yield Portfolio – Administrative Shares (PVITHighY) 107,647 shares (cost $883,924)		866,561
PIMCO VIT – Low Duration Portfolio – Administrative Shares (PVITLowDur) 141,969 shares (cost $1,439,821)		1,462,284
PIMCO VIT – Total Return Portfolio – Administrative Shares (PVITTotRet) 335,985 shares (cost $3,460,732)		3,524,478
Putnam VT – Small Cap Value Fund – IB Shares (PVTSmCapV) 420 shares (cost $8,883)		7,879
T. Rowe Price Blue Chip Growth Portfolio – II (TRoeBlChip2) 33,458 shares (cost $392,157)		391,453
T. Rowe Price Equity Income Portfolio – II (TRowEqInc2) 4,058 shares (cost $98,969)		95,981
Van Kampen LIT – Growth and Income Portfolio – Class I (VKLGroInc) 71,957 shares (cost $1,453,818)		1,537,004
Van Kampen UIF – U.S. Real Estate Portfolio – Class I (VKUUSRE) 46,294 shares (cost $1,102,066)		1,020,792

Total investments		25,582,631
Accounts receivable		–

Total assets		25,582,631
Accounts payable		1,058

Contract owners’ equity (note 4)	$	25,581,573

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF OPERATIONS

Year Ended December 31, 2007


Investment activity:		Total		AIMCapDev		AlVIntlValA		AlVSmMdCpA		ACVPInflPro2		ACVPMdCpV		ACVPVal		ACVPVista1
Reinvested dividends	$	597,142		–		554		–		97,912		70		1,184		–
Mortality and expense risk charges (note 2)		(99,452	)	(2,766	)	(168	)	(1	)	(8,633	)	(10	)	(311	)	(11	)

Net investment income (loss)		497,690		(2,766	)	386		(1	)	89,279		60		873		(11	)


Proceeds from mutual funds shares sold		8,304,885		187,347		521		1		605,945		10		1,346		11
Cost of mutual fund shares sold		(6,876,910	)	(130,392	)	(329	)	(1	)	(628,260	)	(11	)	(1,408	)	(11	)

Realized gain (loss) on investments		1,427,975		56,955		192		–		(22,315	)	(1	)	(62	)	–
Change in unrealized gain (loss) on investments		(480,705	)	(39,020	)	74		(97	)	119,876		(1,133	)	(14,057	)	708

Net gain (loss) on investments		947,270		17,935		266		(97	)	97,561		(1,134	)	(14,119	)	708

Reinvested capital gains		653,534		55,428		1,833		–		–		–		6,137		–

Net increase (decrease) in contract owners’ equity resulting from operations	$	2,098,494		70,597		2,485		(98	)	186,840		(1,074	)	(7,109	)	697


Investment activity:		DryIPSmCap		DryStkIx		DryVApp		FedQualBd		FidVIPEIS		FidVIPGrS		FidVIPMMktS2		FidVIPOvS
Reinvested dividends	$	–		2,784		26,995		1,460		1,034		39		20,772		133
Mortality and expense risk charges (note 2)		(8	)	(506	)	(6,951	)	(120	)	(168	)	(6	)	(1,673	)	(7	)

Net investment income (loss)		(8	)	2,278		20,044		1,340		866		33		19,099		126

Proceeds from mutual funds shares sold		8		3,136		1,061,926		682		1,068		7,642		131,291		9,839
Cost of mutual fund shares sold		(8	)	(2,417	)	(843,913	)	(674	)	(924	)	(7,571	)	(131,291	)	(9,665	)

Realized gain (loss) on investments		–		719		218,013		8		144		71		–		174
Change in unrealized gain (loss) on investments		(682	)	898		(116,100	)	360		(7,055	)	4		–		(545	)

Net gain (loss) on investments		(682	)	1,617		101,913		368		(6,911	)	75		–		(371	)

Reinvested capital gains		–		–		–		–		4,866		–		–		615

Net increase (decrease) in contract owners’ equity resulting from operations	$	(690	)	3,895		121,957		1,708		(1,179	)	108		19,099		370

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2007


Investment activity:		FidVIPOvSR		FidVIPConS		FidVIPIGBdS		FidVIPMCapS		FrVIPDevMrk2		FrVIPDevMrk3		FrVIPForSec2		FrVIPForSec3
Reinvested dividends	$	38,260		853		1,921		751		270		15,400		529		12,676
Mortality and expense risk charges (note 2)		(4,793	)	(293	)	(210	)	(353	)	(48	)	(2,387	)	(101	)	(2,416	)

Net investment income (loss)		33,467		560		1,711		398		222		13,013		428		10,260


Proceeds from mutual funds shares sold		499,989		838		846		1,946		3,538		303,158		9,284		253,097
Cost of mutual fund shares sold		(349,258	)	(801	)	(875	)	(2,038	)	(2,313	)	(189,951	)	(6,830	)	(183,914	)

Realized gain (loss) on investments		150,731		37		(29	)	(92	)	1,225		113,207		2,454		69,183
Change in unrealized gain (loss)on investments		(77,010	)	(13,355	)	748		5,599		658		(19,430	)	(121	)	(19,562	)

Net gain (loss) on investments		73,721		(13,318	)	719		5,507		1,883		93,777		2,333		49,621

Reinvested capital gains		85,808		25,394		–		6,003		927		50,905		1,207		27,488

Net increase (decrease) in contract owners’equity resulting from operations	$	192,996		12,636		2,430		11,908		3,032		157,695		3,968		87,369



Investment activity:		FrVIPGlInc3		FrVIPGroSec2		FrVIPSCapV2		JAspBal		JAspForty		JAspIntGroS2		LrdMidCapV		LrdGroInc
Reinvested dividends	$	–		315		258		125		3,389		357		3,307		1,364
Mortality and expense risk charges (note 2)		(40	)	(96	)	(157	)	(24	)	(7,649	)	(262	)	(2,890	)	(392	)

Net investment income (loss)		(40	)	219		101		101		(4,260	)	95		417		972

Proceeds from mutual funds shares sold		38		702		692		24		1,257,418		756		291,654		1,833
Cost of mutual fund shares sold		(37	)	(505	)	(460	)	(23	)	(895,366	)	(557	)	(280,803	)	(1,645	)

Realized gain (loss) on investments		1		197		232		1		362,052		199		10,851		188
Change in unrealized gain (loss)on investments		845		(956	)	(4,676	)	507		273,610		17,307		(108,026	)	(5,944	)

Net gain (loss) on investments		846		(759	)	(4,444	)	508		635,662		17,506		(97,175	)	(5,756	)

Reinvested capital gains		–		1,005		2,652		–		–		–		97,211		7,522

Net increase (decrease) in contract owners’equity resulting from operations	$	806		465		(1,691	)	609		631,402		17,601		453		2,738

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2007


Investment activity:	MFSValueS			NBTAFasc		NBTAInt		OppCapAp		OppGlSec3		OppHighInc3		OppHighInc		OppMStSCap
Reinvested dividends	$	6,779		–		18,672		4,630		668		–		4,905		4,314
Mortality and expense risk charges (note 2)		(3,330	)	(2,202	)	(4,578	)	(8,094	)	(203	)	(10	)	(267	)	(5,203	)

Net investment income		3,449		(2,202	)	14,094		(3,464	)	465		(10	)	4,638		(889	)


Proceeds from mutual funds shares sold		156,378		117,467		297,492		803,776		620		27		1,465		282,591
Cost of mutual fund shares sold		(119,210	)	(100,283	)	(203,004	)	(615,702	)	(551	)	(27	)	(1,446	)	(214,159	)

Realized gain (loss) on investments		37,168		17,184		94,488		188,074		69		–		19		68,432
Change in unrealized gain (loss) on investments		(3,856	)	(14,759	)	(138,204	)	78,529		(214	)	(215	)	(4,959	)	(126,598	)

Net gain (loss) on investments		33,312		2,425		(43,716	)	266,603		(145	)	(215	)	(4,940	)	(58,166	)

Reinvested capital gains		13,597		3,960		66,422		–		2,432		–		–		46,005
Net increase (decrease) in contract owners’ equity resulting from operations	$	50,358		4,183		36,800		263,139		2,752		(225	)	(302	)	(13,050	)


Investment activity:	OppMSt			PVITHighY		PVITLowDur		PVITTotRet		PVTSmCapV		TRoeBlChip2		TRowEqInc2		VKLGroInc
Reinvested dividends	$	–		68,888		69,181		152,049		–		6		1,263		21,507
Mortality and expense risk charges (note 2)		–		(3,952	)	(5,804	)	(12,619	)	(8	)	(29	)	(279	)	(5,433	)

Net investment income		–		64,936		63,377		139,430		(8	)	(23	)	984		16,074


Proceeds from mutual funds shares sold		4,571		400,026		400,171		699,308		8		17		809		310,559
Cost of mutual fund shares sold		(4,485	)	(406,858	)	(406,921	)	(731,293	)	(8	)	(16	)	(738	)	(259,281	)

Realized gain (loss) on investments		86		(6,832	)	(6,750	)	(31,985	)	–		1		71		51,278
Change in unrealized gain (loss) on investments		(94	)	(28,468	)	40,310		152,307		(1,004	)	(704	)	(6,133	)	(82,967	)

Net gain (loss) on investments		(8	)	(35,300	)	33,560		120,322		(1,004	)	(703	)	(6,062	)	(31,689	)

Reinvested capital gains		–		–		–		–		–		–		5,491		50,287

Net increase (decrease) in contract owners’ equity resulting from operations	$	(8	)	29,636		96,937		259,752		(1,012	)	(726	)	413		34,672

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF OPERATIONS, Continued

Year Ended December 31, 2007


Investment activity:		VKUUSRE
Reinvested dividends	$		11,568
Mortality and expense risk charges (note 2)			(3,991)

Net investment income (loss)			7,577


Proceeds from mutual funds shares sold			193,014
Cost of mutual fund shares sold			(140,677)

Realized gain (loss) on investments			52,337
Change in unrealized gain (loss) on investments			(337,101)

Net gain (loss) on investments			(284,764)

Reinvested capital gains			90,339

Net increase (decrease) in contract owners’ equity resulting from operations		$	(186,848)

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY

Years Ended December 31, 2007 and 2006


		Total				AIMCapDev				AlVIntlValA				AlVREInvA
Investment activity:		2007		2006		2007		2006		2007		2006		2007	2006
Net investment income (loss)	$	497,690		407,405		(2,766	)	(2,434	)	386		431		–	(2	)
Realized gain (loss) on investments		1,427,975		835,643		56,955		42,511		192		847		–	1,465
Change in unrealized gain (loss) on investments		(480,705	)	1,098,922		(39,020	)	43,008		74		10,233		–	(229	)
Reinvested capital gains		653,534		347,641		55,428		12,826		1,833		753		–	–

Net increase (decrease) in contract owners’ equity resulting from operations		2,098,494		2,689,611		70,597		95,911		2,485		12,264		–	1,234


Equity transactions:
Purchase payments received from contract owners (note 3)		3,924,476		3,392,612		103,245		86,956		–		–		–	850
Transfers between funds		–		–		(27,828	)	60,740		–		(2,737	)	–	(21,844	)
Redemptions (note 3)		(5,153,495	)	(4,941,530	)	(142,108	)	(113,173	)	(352	)	(346	)	–	–
Adjustments to maintain reserves		965		5,760		(28	)	(7	)	43		(16	)	–	(9	)

Net equity transactions		(1,228,054	)	(1,543,158	)	(66,719	)	34,516		(309	)	(3,099	)	–	(21,003	)


Net change in contract owners’ equity		870,440		1,146,453		3,878		130,427		2,176		9,165		–	(19,769	)
Contract owners’ equity beginning of period		24,711,133		23,564,680		688,595		558,168		45,429		36,264		–	19,769

Contract owners’ equity end of period	$	25,581,573		24,711,133		692,473		688,595		47,605		45,429		–	–


CHANGES IN UNITS:
Beginning units		1,668,246		1,783,470		34,382		32,359		1,552		1,672		–	912

Units purchased		482,585		530,627		10,091		10,730		–		–		–	37
Units redeemed		(560,355	)	(645,851	)	(13,153	)	(8,707	)	(10	)	(120	)	–	(949	)

Ending units		1,590,476		1,668,246		31,320		34,382		1,542		1,552		–	–

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		AlVSmMdCpA		ACVPInflPro2		ACVPMdCpV		ACVPUltra
Investment activity:		2007	2006	2007	2006	2007	2006	2007	2006
Net investment income (loss)	$	(1)	51	89,279	65,820	60	–	–	(4)
Realized gain (loss) on investments		–	723	(22,315)	(20,638)	(1)	–	–	2,259
Change in unrealized gain (loss) on investments		(97)	(1,293)	119,876	(18,800)	(1,133)	–	–	(1,249)
Reinvested capital gains		–	1,762	–	–	–	–	–	–

Net increase (decrease) in contract owners’ equity resulting from operations		(98)	1,243	186,840	26,382	(1,074)	–	–	1,006


Equity transactions:
Purchase payments received from contract owners (note 3)		957	6,700	276,133	307,858	11,855	–	–	1,700
Transfers between funds		–	(45,458)	30,650	178,549	–	–	–	(38,815)
Redemptions (note 3)		–	(145)	(562,112)	(623,782)	–	–	–	–
Adjustments to maintain reserves		(4)	(2)	(191)	256	2	–	–	8

Net equity transactions		953	(38,905)	(255,520)	(137,119)	11,857	–	–	(37,107)

Net change in contract owners’ equity		855	(37,662)	(68,680)	(110,737)	10,783	–	–	(36,101)
Contract owners’ equity beginning of period		–	37,662	2,196,709	2,307,446	–	–	–	36,101

Contract owners’ equity end of period	$	855	–	2,128,029	2,196,709	10,783	–	–	–


CHANGES IN UNITS:
Beginning units		–	1,986	193,573	205,890	–	–	–	2,643

Units purchased		39	1,320	33,903	47,163	818	–	–	121
Units redeemed		–	(3,306)	(55,453)	(59,480)	–	–	–	(2,764)

Ending units		39	–	172,023	193,573	818	–	–	–

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued Years Ended December 31, 2007 and 2006


		ACVPVal				ACVPVista1			DryIPSmCap			DryStkIx
Investment activity:		2007		2006		2007		2006	2007		2006	2007		2006
Net investment income (loss)	$	873		628		(11	)	–	(8	)	–	2,278		941
Realized gain (loss) on investments		(62	)	(517	)	–		–	–		–	719		76
Change in unrealized gain (loss) on investments		(14,057	)	5,067		708		–	(682	)	–	898		7,048
Reinvested capital gains		6,137		5,508		–		–	–		–	–		–
Net increase (decrease) in contract owners’ equity resulting from operations		(7,109)		10,686		697		–	(690)		–	3,895		8,065

Equity transactions:
Purchase payments received from contract owners (note 3)		28,746		21,000		11,855		–	8,891		–	134,684		19,000
Transfers between funds		–		(1,522	)	–		–	–		–	–		41,121
Redemptions (note 3)		(1,034	)	(1,130	)	–		–	–		–	(2,639	)	(382	)
Adjustments to maintain reserves		(4)		(3)		(7)		–	9		–	(4)		6
Net equity transactions		27,708		18,345		11,848		–	8,900		–	132,041		59,745

Net change in contract owners’ equity		20,599		29,031		12,545		–	8,210		–	135,936		67,810
Contract owners’ equity beginning of period		75,115		46,084		–		–	–		–	86,593		18,783
Contract owners’ equity end of period	$	95,714		75,115		12,545		–	8,210		–	222,529		86,593

CHANGES IN UNITS:
Beginning units		4,021		2,917		–		–	–		–	5,123		1,279
Units purchased		1,453		4,372		725		–	401		–	7,577		3,868
Units redeemed		(54)		(3,268)		–		–	–		–	(148)		(24)
Ending units		5,420		4,021		725		–	401		–	12,552		5,123

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		DryVApp				FedQualBd				FidVIPEIS				FidVIPGrS
Investment activity:		2007		2006		2007		2006		2007		2006		2007		2006
Net investment income (loss)	$	20,044		18,698		1,340		(30	)	866		852		33		5
Realized gain (loss) on investments		218,013		58,849		8		1		144		124		71		64
Change in unrealized gain (loss) on investments		(116,100	)	181,674		360		510		(7,055	)	878		4		176
Reinvested capital gains		–		–		–		–		4,866		3,763		–		–

Net increase (decrease) in contract owners’ equity resulting from operations		121,957		259,221		1,708		481		(1,179	)	5,617		108		245


Equity transactions:
Purchase payments received from contract owners (note 3)		227,609		227,545		5,315		5,000		26,794		–		715		1,962
Transfers between funds		(683,654	)	(68,190	)	(316	)	25,241		–		–		(7,847	)	(9,241	)
Redemptions (note 3)		(349,747	)	(313,402	)	(248	)	(53	)	(900	)	(1,077	)	(504	)	(562	)
Adjustments to maintain reserves		(40	)	(43	)	15		(9	)	20		(13	)	(11	)	7

Net equity transactions		(805,832	)	(154,090	)	4,766		30,179		25,914		(1,090	)	(7,647	)	(7,834	)


Net change in contract owners’ equity		(683,875	)	105,131		6,474		30,660		24,735		4,527		(7,539	)	(7,589	)
Contract owners’ equity beginning of period		1,740,931		1,635,800		30,660		–		33,701		29,174		7,539		15,128

Contract owners’ equity end of period	$	1,057,056		1,740,931		37,134		30,660		58,436		33,701		–		7,539


CHANGES IN UNITS:
Beginning units		115,323		125,771		2,661		–		1,813		1,877		505		1,084

Units purchased		18,060		21,392		454		2,666		1,345		–		–		86
Units redeemed		(67,738	)	(31,840	)	(46	)	(5	)	(46	)	(64	)	(505	)	(665	)

Ending units		65,645		115,323		3,069		2,661		3,112		1,813		–		505

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		FidVIPMMktS2				FidVIPOvS				FidVIPOvSR				FidVIPConS
Investment activity:		2007		2006		2007		2006		2007		2006		2007		2006
Net investment income (loss)	$	19,099		29,119		126		(6	)	33,467		6,205		560		463
Realized gain (loss) on investments		–		–		174		14		150,731		153,015		37		(415	)
Change in unrealized gain (loss) on investments		–		–		(545	)	545		(77,010	)	75,831		(13,355	)	(2,466	)
Reinvested capital gains		–		–		615		–		85,808		9,181		25,394		5,067

Net increase (decrease) in contract owners’ equity resulting from operations		19,099		29,119		370		553		192,996		244,232		12,636		2,649


Equity transactions:
Purchase payments received from contract owners (note 3)		28,445		85,672		670		2,313		223,965		194,434		30,867		23,000
Transfers between funds		128		(305,054	)	(9,886	)	6,960		(279,868	)	(382,984	)	–		39,035
Redemptions (note 3)		(114,306	)	(306,781	)	(615	)	(363	)	(239,868	)	(216,769	)	(551	)	(501	)
Adjustments to maintain reserves		(212	)	53		(7	)	5		13		(19	)	15		7

Net equity transactions		(85,945	)	(526,110	)	(9,838	)	8,915		(295,758	)	(405,338	)	30,331		61,541


Net change in contract owners’ equity		(66,846	)	(496,991	)	(9,468	)	9,468		(102,762	)	(161,106	)	42,967		64,190
Contract owners’ equity beginning of period		465,232		962,223		9,468		–		1,273,494		1,434,600		64,190		–

Contract owners’ equity end of period	$	398,386		465,232		–		9,468		1,170,732		1,273,494		107,157		64,190


CHANGES IN UNITS:
Beginning units		43,162		93,161		417		–		86,943		115,078		3,357		–

Units purchased		5,408		36,798		–		440		14,272		17,440		1,458		4,359
Units redeemed		(13,200	)	(86,797	)	(417	)	(23	)	(32,755	)	(45,575	)	(26	)	(1,002	)

Ending units		35,370		43,162		–		417		68,460		86,943		4,789		3,357

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		FidVIPIGBdS				FidVIPMCapS				FrVIPDevMrk2				FrVIPDevMrk3
Investment activity:		2007		2006		2007		2006		2007		2006		2007		2006
Net investment income (loss)	$	1,711		1,591		398		(56	)	222		70		13,013		5,129
Realized gain (loss) on investments		(29	)	(36	)	(92	)	(1,036	)	1,225		93		113,207		48,890
Change in unrealized gain (loss) on investments		748		97		5,599		(2,087	)	658		2,431		(19,430	)	87,584
Reinvested capital gains		–		107		6,003		5,586		927		–		50,905		–
Net increase (decrease) in contract owners’ equity resulting from operations		2,430		1,759		11,908		2,407		3,032		2,594		157,695		141,603

Equity transactions:
Purchase payments received from contract owners (note 3)		26,215		–		73,778		21,000		388		932		112,266		90,963
Transfers between funds		–		–		–		40,283		(3,379	)	2,139		(195,320	)	(135,185	)
Redemptions (note 3)		(635	)	(829	)	(1,602	)	(444	)	(495	)	(452	)	(109,808	)	(43,412	)
Adjustments to maintain reserves		7		(9	)	(19	)	6		(25	)	17		(40	)	(19	)
Net equity transactions		25,587		(838	)	72,157		60,845		(3,511	)	2,636		(192,902	)	(87,653	)

Net change in contract owners’ equity		28,017		921		84,065		63,252		(479	)	5,230		(35,207	)	53,950
Contract owners’ equity beginning of period		46,350		45,429		63,252		–		14,027		8,797		596,719		542,769
Contract owners’ equity end of period	$	74,367		46,350		147,317		63,252		13,548		14,027		561,512		596,719

CHANGES IN UNITS:
Beginning units		3,954		4,027		4,658		–		446		357		36,600		42,499
Units purchased		2,207		–		4,876		9,209		–		107		6,577		9,070
Units redeemed		(53	)	(73	)	(107	)	(4,551	)	(110	)	(18	)	(16,307	)	(14,969	)
Ending units		6,108		3,954		9,427		4,658		336		446		26,870		36,600

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		FrVIPForSec2				FrVIPForSec3				FrVIPGlInc3			FrVIPGroSec2
Investment activity:		2007		2006		2007		2006		2007		2006	2007		2006
Net investment income (loss)	$	428		196		10,260		11,676		(40	)	–	219		202
Realized gain (loss) on investments		2,454		525		69,183		196,269		1		–	197		159
Change in unrealized gain (loss) on investments		(121	)	4,050		(19,562	)	26,971		845		–	(956	)	3,062
Reinvested capital gains		1,207		–		27,488		–		–		–	1,005		803

Net increase (decrease) in contract owners’ equity resulting from operations		3,968		4,771		87,369		234,916		806		–	465		4,226


Equity transactions:
Purchase payments received from contract owners (note 3)		556		1,974		76,868		161,158		44,939		–	–		–
Transfers between funds		(9,153	)	6,991		(163,326	)	(687,184	)	–		–	–		–
Redemptions (note 3)		(587	)	(393	)	(84,605	)	(188,562	)	–		–	(602	)	(723	)
Adjustments to maintain reserves		(5	)	(32	)	(19	)	(3	)	2		–	36		(12	)

Net equity transactions		(9,189	)	8,540		(171,082	)	(714,591	)	44,941		–	(566	)	(735	)


Net change in contract owners’ equity		(5,221	)	13,311		(83,713	)	(479,675	)	45,747		–	(101	)	3,491
Contract owners’ equity beginning of period		34,052		20,741		698,219		1,177,894		–		–	23,659		20,168

Contract owners’ equity end of period	$	28,831		34,052		614,506		698,219		45,747		–	23,558		23,659


CHANGES IN UNITS:
Beginning units		1,632		1,203		51,256		104,626		–		–	1,174		1,214

Units purchased		–		460		6,362		14,426		3,741		–	–		–
Units redeemed		(431	)	(31	)	(18,388	)	(67,796	)	–		–	(27	)	(40	)

Ending units		1,201		1,632		39,230		51,256		3,741		–	1,147		1,174

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		FrVIPSCapV2				FrVIPUSGov2			JAspBal				JAspForty
Investment activity:		2007		2006		2007	2006		2007		2006		2007		2006
Net investment income (loss)	$	101		101		–	2,433		101		–		(4,260	)	(4,199	)
Realized gain (loss) on investments		232		220		–	(1,455	)	1		19		362,052		17,771
Change in unrealized gain (loss) on investments		(4,676	)	3,941		–	–		507		–		273,610		140,835
Reinvested capital gains		2,652		1,323		–	–		–		–		–		–

Net increase (decrease) in contract owners’ equity resulting from operations		(1,691	)	5,585		–	978		609		19		631,402		154,407


Equity transactions:
Purchase payments received from contract owners (note 3)		8,891		–		–	11,000		12,096		–		245,130		222,225
Transfers between funds		–		–		–	(11,643	)	–		–		(727,750	)	48,949
Redemptions (note 3)		(533	)	(649	)	–	(334	)	–		(19	)	(381,599	)	(268,588	)
Adjustments to maintain reserves		15		(24	)	–	(1	)	(3	)	–		(21	)	(11	)

Net equity transactions		8,373		(673	)	–	(978	)	12,093		(19	)	(864,240	)	2,575


Net change in contract owners’ equity		6,682		4,912		–	–		12,702		–		(232,838	)	156,982
Contract owners’ equity beginning of period		38,894		33,982		–	–		–		–		1,729,252		1,572,270

Contract owners’ equity end of period	$	45,576		38,894		–	–		12,702		–		1,496,414		1,729,252

CHANGES IN UNITS:
Beginning units		1,808		1,841		–	–		–		–		104,890		103,685

Units purchased		393		–		–	5,431		813		–		22,659		25,601
Units redeemed		(23	)	(33	)	–	(5,431	)	–		–		(60,834	)	(24,396	)

Ending units		2,178		1,808		–	–		813		–		66,715		104,890

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		JAspIntGroS2				LrdMidCapV				LrdGroInc				MFSValueS
Investment activity:		2007		2006		2007		2006		2007		2006		2007		2006
Net investment income (loss)	$	95		338		417		1,035		972		969		3,449		2,948
Realized gain (loss) on investments		199		7		10,851		9,495		188		2,515		37,168		28,764
Change in unrealized gain (loss) on investments		17,307		6,812		(108,026	)	9,164		(5,944	)	3,473		(3,856	)	76,118
Reinvested capital gains		–		–		97,211		54,654		7,522		3,124		13,597		19,003

Net increase (decrease) in contract owners’ equity resulting from operations		17,601		7,157		453		74,348		2,738		10,081		50,358		126,833


Equity transactions:
Purchase payments received from contract owners (note 3)		29,783		12,000		106,980		97,628		10,000		12,550		123,775		85,894
Transfers between funds		–		35,337		(126,782	)	8,572		–		(8,773	)	1,108,934		67,566
Redemptions (note 3)		(496	)	(78	)	(119,743	)	(50,197	)	(1,438	)	(1,247	)	(163,895	)	(104,465	)
Adjustments to maintain reserves		(33	)	13		(2	)	(63	)	(18	)	11		(52	)	8

Net equity transactions		29,254		47,272		(139,547	)	55,940		8,544		2,541		1,068,762		49,003


Net change in contract owners’ equity		46,855		54,429		(139,094	)	130,288		11,282		12,622		1,119,120		175,836
Contract owners’ equity beginning of period		54,429		–		712,925		582,637		98,406		85,784		777,745		601,909

Contract owners’ equity end of period	$	101,284		54,429		573,831		712,925		109,688		98,406		1,896,865		777,745


CHANGES IN UNITS:
Beginning units		2,733		–		36,785		33,604		5,496		5,598		42,331		39,338

Units purchased		1,275		2,737		7,750		7,435		527		3,711		62,902		12,492
Units redeemed		(23	)	(4	)	(14,976	)	(4,254	)	(79	)	(3,813	)	(8,869	)	(9,499	)

Ending units		3,985		2,733		29,559		36,785		5,944		5,496		96,364		42,331

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		NBTAFasc				NBTAInt				NBTARegS			OppCapAp
Investment activity:		2007		2006		2007		2006		2007	2006		2007		2006
Net investment income (loss)	$	(2,202	)	(2,193	)	14,094		(615	)	–	(73	)	(3,464	)	(888	)
Realized gain (loss) on investments		17,184		14,000		94,488		9,108		–	(2,173	)	188,074		46,284
Change in unrealized gain (loss) on investments		(14,759	)	2,468		(138,204	)	63,409		–	–		78,529		101,284
Reinvested capital gains		3,960		14,631		66,422		2,813		–	–		–		–

Net increase (decrease) in contract owners’ equity resulting from operations		4,183		28,906		36,800		74,715		–	(2,246	)	263,139		146,680


Equity transactions:
Purchase payments received from contract owners (note 3)		67,127		68,841		166,399		39,482		–	7,000		273,966		266,074
Transfers between funds		5,011		31,694		109,918		715,130		–	(4,547	)	(393,778	)	24,103
Redemptions (note 3)		(104,529	)	(89,888	)	(218,660	)	(90,542	)	–	(207	)	(413,846	)	(319,845	)
Adjustments to maintain reserves		22		(25	)	1,130		5,770		–	–		(1	)	(19	)

Net equity transactions		(32,369	)	10,622		58,787		669,840		–	2,246		(533,659	)	(29,687	)


Net change in contract owners’ equity		(28,186	)	39,528		95,587		744,555		–	–		(270,520	)	116,993

Contract owners’ equity beginning of period		558,975		519,447		1,065,565		321,010		–	–		1,973,440		1,856,447


Contract owners’ equity end of period	$	530,789		558,975		1,161,152		1,065,565		–	–		1,702,920		1,973,440


CHANGES IN UNITS:
Beginning units		36,324		35,403		73,940		27,390		–	–		128,591		130,109

Units purchased		7,465		9,052		24,825		55,403		–	3,036		20,591		26,483
Units redeemed		(9,330	)	(8,131	)	(20,382	)	(8,853	)	–	(3,036	)	(51,553	)	(28,001	)

Ending units		34,459		36,324		78,383		73,940		–	–		97,629		128,591

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		OppGlSec3					OppGlSec			OppHighInc3			OppHighInc
Investment activity:		2007			2006		2007	2006		2007		2006	2007		2006
Net investment income (loss)	$		465		101		–	(3	)	(10	)	–	4,638		5,033
Realized gain (loss) on investments			69		8		–	4,924		–		–	19		(228	)
Change in unrealized gain (loss) on investments			(214	)	2,393		–	(3,722	)	(215	)	–	(4,959	)	787
Reinvested capital gains			2,432		1,093		–	–		–		–	–		–

Net increase (decrease) in contract owners’ equity resulting from operations			2,752		3,595		–	1,199		(225	)	–	(302	)	5,592


Equity transactions:
Purchase payments received from contract owners (note 3)			10,000		25,850		–	–		5,000		–	–		13,000
Transfers between funds			–		17,851		–	(25,075	)	–		–	–		16,428
Redemptions (note 3)			(418	)	(648	)	–	–		(17	)	–	(1,195	)	(1,523	)
Adjustments to maintain reserves			4		(10	)	–	4		(6	)	–	7		16

Net equity transactions			9,586		43,043		–	(25,071	)	4,977		–	(1,188	)	27,921


Net change in contract owners’ equity			12,338		46,638		–	(23,872	)	4,752		–	(1,490	)	33,513
Contract owners’ equity beginning of period			49,189		2,551		–	23,872		–		–	69,566		36,053

Contract owners’ equity end of period		$	61,527		49,189		–	–		4,752		–	68,076		69,566

CHANGES IN UNITS:
Beginning units			3,486		212		–	1,241		–		–	4,512		2,551

Units purchased			657		6,512		–	–		495		–	–		3,305
Units redeemed			(28	)	(3,238	)	–	(1,241	)	(2	)	–	(75	)	(1,344	)

Ending units			4,115		3,486		–	–		493		–	4,437		4,512

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


	OppMStSCap					OppMSt				PVITHighY				PVITLowDur
Investment activity:	2007			2006		2007		2006		2007		2006		2007		2006
Net investment income (loss)	$	(889	)	(3,171	)	–		3		64,936		68,995		63,377		60,555
Realized gain (loss) on investments		68,432		71,757		86		1,401		(6,832	)	6,285		(6,750	)	(6,666	)
Change in unrealized gain (loss) on investments		(126,598	)	73,052		(94	)	(767	)	(28,468	)	15,099		40,310		1,817
Reinvested capital gains		46,005		36,991		–		–		–		–		–		–

Net increase (decrease) in contract owners’ equity resulting from operations		(13,050	)	178,629		(8	)	637		29,636		90,379		96,937		55,706


Equity transactions:
Purchase payments received from contract owners (note 3)		190,173		165,719		30		7,096		183,541		152,683		216,472		229,048
Transfers between funds		69,237		(25,120	)	(4,601	)	(3,823	)	(88,396	)	7,918		48,186		109,389
Redemptions (note 3)		(207,249	)	(176,251	)	–		(14,037	)	(277,408	)	(302,156	)	(423,950	)	(487,711	)
Adjustments to maintain reserves		(32	)	59		(4	)	(4	)	199		(91	)	198		(161	)

Net equity transactions		52,129		(35,593	)	(4,575	)	(10,768	)	(182,064	)	(141,646	)	(159,094	)	(149,435	)

Net change in contract owners’ equity		39,079		143,036		(4,583	)	(10,131	)	(152,428	)	(51,267	)	(62,157	)	(93,729	)
Contract owners’ equity beginning of period		1,314,328		1,171,292		4,583		14,714		1,019,006		1,070,273		1,524,158		1,617,887

Contract owners’ equity end of period	$	1,353,407		1,314,328		–		4,583		866,578		1,019,006		1,462,001		1,524,158


CHANGES IN UNITS:
Beginning units		61,432		62,725		275		1,018		62,855		71,777		139,944		153,951

Units purchased		17,618		13,870		–		676		14,833		11,377		27,408		52,582
Units redeemed		(14,750	)	(15,163	)	(275	)	(1,419	)	(25,830	)	(20,299	)	(41,796	)	(66,589	)

Ending units		64,300		61,432		–		275		51,858		62,855		125,556		139,944

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


		PVITTotRet				PVTSmCapV			TRoeBlChip2			TRowEqInc2
Investment activity:		2007		2006		2007		2006	2007		2006	2007		2006
Net investment income (loss)	$	139,430		119,512		(8	)	–	(23	)	–	984		342
Realized gain (loss) on investments		(31,985	)	(23,930	)	–		–	1		–	71		7
Change in unrealized gain (loss) on investments		152,307		(5,197	)	(1,004	)	–	(704	)	–	(6,133	)	3,145
Reinvested capital gains		–		17,667		–		–	–		–	5,491		1,488

Net increase (decrease) in contract owners’ equity resulting from operations		259,752		108,052		(1,012	)	–	(726	)	–	413		4,982


Equity transactions:
Purchase payments received from contract owners (note 3)		472,409		399,261		8,891		–	7,263		–	30,746		10,000
Transfers between funds		458,307		487,801		–		–	384,917		–	–		50,482
Redemptions (note 3)		(749,446	)	(803,476	)	–		–	–		–	(533	)	(111	)
Adjustments to maintain reserves		65		134		(6	)	–	(3	)	–	(2	)	5

Net equity transactions		181,335		83,720		8,885		–	392,177		–	30,211		60,376


Net change in contract owners’ equity		441,087		191,772		7,873		–	391,451		–	30,624		65,358
Contract owners’ equity beginning of period		3,082,824		2,891,052		–		–	–		–	65,358		–

Contract owners’ equity end of period	$	3,523,911		3,082,824		7,873		–	391,451		–	95,982		65,358


CHANGES IN UNITS:
Beginning units		260,016		252,413		–		–	–		–	5,209		–

Units purchased		80,860		84,043		404		–	28,423		–	2,283		5,218
Units redeemed		(66,365	)	(76,440	)	–		–	–		–	(41	)	(9	)

Ending units		274,511		260,016		404		–	28,423		–	7,451		5,209

(Continued)

NATIONWIDE VARIABLE ACCOUNT–13

STATEMENTS OF CHANGES IN CONTRACT OWNERS’ EQUITY, Continued

Years Ended December 31, 2007 and 2006


Investment activity:		VKLGroInc				VKUUSRE
Investment activity:		2007		2006		2007		2006
Net investment income	$	16,074		9,821		7,577		6,816
Realized gain (loss) on investments		51,278		55,886		52,337		118,402
Change in unrealized gain (loss) on investments		(82,967	)	50,370		(337,101	)	131,400
Reinvested capital gains		50,287		84,566		90,339		64,932

Net increase (decrease) in contract owners’ equity resulting from operations		34,672		200,643		(186,848	)	321,550


Equity transactions:
Purchase payments received from contract owners (note 3)		161,437		177,878		138,611		129,366
Transfers between funds		261,146		(50,684	)	245,450		(194,400	)
Redemptions (note 3)		(282,542	)	(250,245	)	(192,680	)	(166,032	)
Adjustments to maintain reserves		(30	)	7		(8	)	(27	)

Net equity transactions		140,011		(123,044	)	191,373		(231,093	)


Net change in contract owners’ equity		174,683		77,599		4,525		90,457
Contract owners’ equity beginning of period		1,362,295		1,284,696		1,016,261		925,804

Contract owners’ equity end of period	$	1,536,978		1,362,295		1,020,786		1,016,261


CHANGES IN UNITS:
Beginning units		72,151		78,812		32,916		41,247

Units purchased		26,397		12,172		14,240		5,427
Units redeemed		(19,031	)	(18,833	)	(7,119	)	(13,758	)

Ending units		79,517		72,151		40,037		32,916

See accompanying notes to financial statements.

NATIONWIDE VARIABLE ACCOUNT-13

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

(1)

Background and Summary of Significant Accounting Policies

(a)

Organization and Nature of Operations

Nationwide Variable Account-13 (the Account) was established pursuant to a resolution of the Board of Directors of Nationwide Life Insurance Company (the Company) on July 10, 2001 and commenced operations on December 31, 2002. The Account is registered as a unit investment trust under the Investment Company Act of 1940.

The Company offers Individual Deferred Variable Annuity Contracts through the Account. The primary distribution for the contracts is through Investment Advisors.

(b)

The Contracts

Only contracts without a front-end sales charge are offered for purchase. See note 2 for a discussion of contract expenses.

Contract owners in either the accumulation or the payout phase may invest in the following:

Portfolios of the AIM Variable Insurance Funds (AIM VIF);

AIM VIF – Basic Value Fund – Series I (AIMBValue)*

AIM VIF – Capital Development Fund – Series I (AIMCapDev)

AIM VIF – Dynamics Fund – Series I (AIMDyn)*

AIM VIF – Small Cap Growth Fund – Series I (AIMSmCpGr)*

Portfolios of the AllianceBernstein Variable Products Series Fund, Inc. (AllianceBernstein VPS);

AllianceBernstein VPS – Growth and Income Portfolio – Class A (AlVGrIncA)*

AllianceBernstein VPS – International Value Portfolio – Class A (AlVIntlValA)

AllianceBernstein VPS – Real Estate Investment Portfolio – Class A (AlVREInvA)*

AllianceBernstein VPS – Small Mid Cap Value Portfolio – Class A (AlVSmMdCpA)

Portfolios of the American Century Variable Portfolios, Inc. (American Century VP);

American Century VP – Income & Growth Fund – Class I (ACVPIncGr)*

American Century VP – Inflation Protection Fund – Class II (ACVPInflPro2)

American Century VP – Mid Cap Value Fund – Class I (ACVPMdCpV)

American Century VP – Ultra^®Fund – Class I (ACVPUltra)*

American Century VP – Value Fund – Class I (ACVPVal)

American Century VP – Vista^SM Fund – Class I (ACVPVista1)

Portfolios of the Dreyfus Investment Portfolios (Dreyfus IP);

Dreyfus IP – Small Cap Stock Index Portfolio – Service Shares (DryIPSmCap)

Dreyfus Stock Index Fund, Inc. – Initial Shares (DryStkIx)

Portfolios of the Dreyfus Variable Investment Fund (Dreyfus VIF);

Dreyfus VIF – Appreciation Portfolio – Initial Shares (DryVApp)

Dreyfus VIF – Developing Leaders Portfolio – Initial Shares (DryVDevLd)*

Portfolio of the Federated Insurance Series (Federated IS);

Federated IS – Quality Bond Fund II – Primary Shares (FedQualBd)

Portfolios of the Fidelity^®Variable Insurance Products Fund (Fidelity^®VIP);

Fidelity^®VIP – Equity-Income Portfolio – Service Class (FidVIPEIS)

Fidelity^®VIP – Growth Portfolio – Service Class (FidVIPGrS)*

Fidelity^®VIP – Money Market Portfolio – Service Class 2 (FidVIPMMktS2)

Fidelity^®VIP – Overseas Portfolio – Service Class (FidVIPOvS)*

Fidelity^®VIP – Overseas Portfolio – Service Class R (FidVIPOvSR)

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)

Portfolios of the Fidelity^®Variable Insurance Products Fund II (Fidelity^®VIP II);

Fidelity^®VIP II – Contrafund^®Portfolio – Service Class (FidVIPConS)

Fidelity^®VIP II – Investment Grade Bond Portfolio – Service Class (FidVIPIGBdS)

Portfolio of the Fidelity^®Variable Insurance Products Fund III (Fidelity^®VIP III);

Fidelity^®VIP III – Mid Cap Portfolio – Service Class (FidVIPMCapS)

Portfolios of the Franklin Templeton Variable Insurance Products Trust (Franklin Templeton VIP);

Franklin Templeton VIP – Developing Markets Securities Fund – Class 2 (FrVIPDevMrk2)

Franklin Templeton VIP – Developing Markets Securities Fund – Class 3 (FrVIPDevMrk3)

Franklin Templeton VIP – Foreign Securities Fund – Class 2 (FrVIPForSec2)

Franklin Templeton VIP – Foreign Securities Fund – Class 3 (FrVIPForSec3)

Franklin Templeton VIP – Global Income Securities Fund – Class 3 (FrVIPGlInc3)

Franklin Templeton VIP – Growth Securities Fund – Class 2 (FrVIPGroSec2)

Franklin Templeton VIP – Small Cap Value Securities Fund – Class 2 (FrVIPSCapV2)

Franklin Templeton VIP – US Government Fund – Class 2 (FrVIPUSGov2)*

Portfolios of the Janus Aspen Series;

Janus Aspen Series – Balanced Portfolio – Service Shares (JAspBal)

Janus Aspen Series – Forty Portfolio – Service Shares (JAspForty)

Janus Aspen Series – Fundamental Equity Portfolio – Service Shares (JAspFundEq)*

Janus Aspen Series – International Growth Portfolio – Service II Shares (JAspIntGroS2)

Janus Aspen Series – International Growth Portfolio – Service Shares (JAspIntGroS)*

Portfolio of the Legg Mason Partners Variable Equity Trust (Legg Mason Partners VET);

Legg Mason Partners VET – Small Cap Growth Portfolio – Class II (LMVESmCap2)*

Portfolio of the Lehman Brothers Advisers Management Trust (Lehman Brothers AMT);

Lehman Brothers AMT – Short Duration Bond Portfolio – I Class

(formerly Neuberger Berman AMT – Limited Maturity Bond Portfolio – Class I) (LBTShrtDBd)*

Lord Abbett Series Fund, Inc. – Mid Cap Value Portfolio – Class VC (LrdMidCapV)

Lord Abbett Series Growth and Income Fund – Class VC (LrdGroInc)

Portfolios of the MFS Variable Insurance Trust (MFS VIT);

MFS VIT – Investors Growth Stock Series – Service Class (MFSInvGrStS)*

MFS VIT – Value Series – Service Class (MFSValueS)

Portfolios of the Neuberger Berman Advisers Management Trust (Neuberger Berman AMT);

Neuberger Berman AMT – Fasciano Portfolio – S Class Shares (NBTAFasc)

Neuberger Berman AMT – International Portfolio – Class S (NBTAInt)

Neuberger Berman AMT – Mid Cap Growth Portfolio – I Class Shares (NBTAMCGr)*

Neuberger Berman AMT – Regency Portfolio – Class S (NBTARegS)*

Portfolios of the Oppenheimer Variable Account Funds (Oppenheimer VAF);

Oppenheimer VAF – Capital Appreciation Fund – Non-Service Shares (OppCapAp)

Oppenheimer VAF – Global Securities Fund – Class 3 (OppGlSec3)

Oppenheimer VAF – Global Securities Fund – Non-Service Shares (OppGlSec)*

Oppenheimer VAF – High Income Fund – Class 3 (OppHighInc3)

Oppenheimer VAF – High Income Fund – Non-Service Shares (OppHighInc)

Oppenheimer VAF – Main Street Small Cap Fund^®– Non-Service Shares (OppMStSCap)

Oppenheimer VAF – Main Street^®– Non-Service Shares (OppMSt)*

Portfolios of the PIMCO Variable Insurance Trust (PIMCO VIT);

PIMCO VIT – High Yield Portfolio – Administrative Shares (PVITHighY)

PIMCO VIT – Low Duration Portfolio – Administrative Shares (PVITLowDur)

PIMCO VIT – Total Return Portfolio – Administrative Shares (PVITTotRet)

Portfolios of the Putnam Variable Trust (Putnam VT);

Putnam VT – Growth and Income Fund – IB Shares (PVTGroInc)*

Putnam VT – International Equity Fund – IB Shares (PVTIntlEq)*

Putnam VT – Small Cap Value Fund – IB Shares (PVTSmCapV)

Putnam VT – Voyager Fund – IB Shares (PVTVoygr)*

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)

T. Rowe Price Blue Chip Growth Portfolio – II (TRoeBlChip2)

T. Rowe Price Equity Income Portfolio – II (TRowEqInc2)

Portfolios of the Van Kampen Life Investment Trust (Van Kampen LIT);

Van Kampen LIT – Comstock Portfolio – Class I (VKLCom)*

Van Kampen LIT – Growth and Income Portfolio – Class I (VKLGroInc)

Portfolios of the Van Kampen – The Universal Institutional Funds, Inc. (Van Kampen UIF);

Van Kampen UIF – Emerging Markets Debt Portfolio – Class I (VKUEmMkt)*

Van Kampen UIF – U.S. Real Estate Portfolio – Class I (VKUUSRE)

*At December 31, 2007, contract owners were not invested in this fund.

The contract owners’ equity is affected by the investment results of each fund, equity transactions by contract owners and certain contract expenses (see note 2). The accompanying financial statements include only contract owners’ purchase payments pertaining to the variable portions of their contracts and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of the Company.

A contract owner may choose from among a number of different underlying mutual fund options. The underlying mutual fund options are not available to the general public directly. The underlying mutual funds are available as investment options in variable life insurance policies or variable annuity contracts issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.

Some of the underlying mutual funds have been established by investment advisers which manage publicly traded mutual funds having similar names and investment objectives. While some of the underlying mutual funds may be similar to, and may in fact be modeled after, publicly traded mutual funds, the underlying mutual funds are not otherwise directly related to any publicly traded mutual fund. Consequently, the investment performance of publicly traded mutual funds and any corresponding underlying mutual funds may differ substantially.

(c)

Security Valuation, Transactions and Related Investment Income

Investments in underlying mutual funds are valued based on the closing net asset value per share at December 31, 2007 of such funds, which value their investment securities at fair value. The cost of investments sold is determined on a First in – First out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividends (which include capital gain distributions) are accrued as of the ex-dividend date and are reinvested in the underlying mutual funds.

(d)

Federal Income Taxes

Operations of the Account form a part of, and are taxed with, operations of the Company which is taxed as a life insurance company under the Internal Revenue Code.

The Company does not provide for income taxes within the Account. Taxes are the responsibility of the contract owner upon termination or withdrawal.

(e)

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with U.S. generally accepted accounting principles may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)

(f)

New Accounting Pronouncement

In September 2006, the FASB issued SFAS 157, Fair Value Measurements (SFAS 157). SFAS 157 provides enhanced guidance for using fair value to measure assets and liabilities and requires new disclosures about fair value measurements. SFAS 157 also provides guidance regarding the extent to which companies measure assets and liabilities at fair value, the information used to measure fair value, and the effect of fair value measurements on earnings. For assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to initial recognition, the reporting entity shall disclose information that enables financial statement users to assess the inputs used to develop those measurements. SFAS 157 applies whenever other standards require (or permit) assets or liabilities to be measured at fair value but does not expand the use of fair value in any new circumstances. SFAS 157 is effective for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years, with early adoption permitted. The Company will adopt SFAS 157 effective January 1, 2008. SFAS 157 is not expected to have a material impact on the Company’s financial position or results of operations upon adoption.

(2)

Expenses

The Company does not deduct a sales charge from purchase payments received from the contract owners. No sales charges are deducted upon surrender of the contract.

The Company deducts a mortality and expense risk charge assessed through the daily unit value calculation. The Option table below illustrates the annual rate for all contract level charges by product, as well as the maximum variable account charge per product. The table also summarizes the contract level options available to contract holders. The options and related charges are described in more detail in the applicable product prospectus.

Nationwide Variable Account-13 Options


		BOA Advisor
Variable Account Charges – Recurring		0.35%
Death Benefit Options:
One-Year Enhanced		0.20%
If death before annuitization, benefit will be greatest of (i) contract value, (ii) purchase payments less surrenders or
(iii) highest contract value before 81st birthday less surrenders.

Maximum Variable Account Charges*		0.55%

* When maximum options are utilized.

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)

The following table provides mortality and expense risk charges by asset fee rates for the period ended December 31, 2007:


	Total		AIMCapDev	AlVIntlValA	AlVSmMdCpA	ACVPInflPro2	ACVPMdCpV	ACVPVal	ACVPVista1

0.35%	$	69,997	1,932	168	1	5,865	10	283	11
0.55%		29,455	834	–	–	2,768	–	28	–

Totals	$	99,452	2,766	168	1	8,633	10	311	11


	DryIPSmCap		DryStkIx	DryVApp	FedQualBd	FidVIPEIS	FidVIPGrS	FidVIPMMktS2	FidVIPOvS

0.35%	$	8	506	4,841	120	108	6	1,212	7
0.55%		–	–	2,110	–	60	–	461	–

Totals	$	8	506	6,951	120	168	6	1,673	7


	FidVIPOvSR		FidVIPConS	FidVIPIGBdS	FidVIPMCapS	FrVIPDevMrk2	FrVIPDevMrk3	FrVIPForSec2	FrVIPForSec3

0.35%	$	3,345	281	182	353	33	1,679	101	1,733
0.55%		1,448	12	28	–	15	708	–	683

Totals	$	4,793	293	210	353	48	2,387	101	2,416


	FrVIPGlInc3		FrVIPGroSec2	FrVIPSCapV2	JAspBal	JAspForty	JAspIntGroS2	LrdMidCapV	LrdGroInc

0.35%	$	23	58	130	–	5,327	262	2,045	343
0.55%		17	38	27	24	2,322	–	845	49

Totals	$	40	96	157	24	7,649	262	2,890	392


	MFSValueS		NBTAFasc	NBTAInt	OppCapAp	OppGlSec3	OppHighInc3	OppHighInc	OppMStSCap

0.35%	$	2,325	1,529	3,198	5,607	203	10	204	3,687
0.55%		1,005	673	1,380	2,487	–	–	63	1,516

Totals	$	3,330	2,202	4,578	8,094	203	10	267	5,203


	PVITHighY		PVITLowDur	PVITTotRet	PVTSmCapV	TRoeBlChip2	TRowEqInc2	VKLGroInc	VKUUSRE

0.35%	$	2,668	3,987	8,718	8	25	279	3,793	2,783
0.55%		1,284	1,817	3,901	–	4	–	1,640	1,208

Totals	$	3,952	5,804	12,619	8	29	279	5,433	3,991

(3)

Related Party Transactions

The Company performs various services on behalf of the Mutual Fund Companies in which the Account invests and may receive fees for the services performed. These services include, among other things, shareholder communications, preparation, postage, fund transfer agency and various other record keeping and customer service functions. These fees are paid to an affiliate of the Company.

Contract owners may, with certain restrictions, transfer their assets between the Account and a fixed dollar contract (fixed account) maintained in the accounts of the Company. The fixed account assets are not reflected in the accompanying financial statements. In addition, the Account portion of contract owner loans is transferred to the accounts of the Company for administration and collection. Loan repayments are transferred to the Account at the direction of the contract owner. For the years ended December 31, 2007 and 2006, there were no transfers between the Account and the fixed account. Transfers from the Account to the fixed account are included in redemptions, and transfers to the Account from the fixed account are included in purchase payments received from contract owners, as applicable, on the accompanying Statements of Changes in Contract Owners’ Equity.

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)

(4)

Financial Highlights

The Company offers several variable annuity products through the Account that have unique combinations of features and fees that are assessed to the contract owner. Differences in fee structures result in a variety of contract expense rates, unit fair values and total returns. The following tabular presentation is a summary of units, unit fair values and contract owners’ equity outstanding for variable annuity contracts as of the end of the periods indicated, and contract expense rate, investment income ratio and total return for each period in the five-year period ended December 31, 2007. The information is presented as a range of minimum to maximum values based upon product grouping. The range is determined by identifying the lowest and the highest contract expense rate. The unit fair values and total returns related to these identified contract expense rates are also disclosed as a range below. Accordingly, some individual contract amounts may not be within the ranges presented.


	Contract Expense Rate*	Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**	Total Return***
AIM VIF – Capital Development Fund – Series I
2007	0.35% to 0.55%	31,320	$	22.16 to 21.93	$	692,473	0.00%	10.45% to 10.23%
2006	0.35% to 0.55%	34,382		20.06 to 19.90		688,595	0.00%	16.11% to 15.88%
2005	0.35% to 0.55%	32,359		17.28 to 17.17		558,168	0.00%	9.22% to 9.00%
2004	0.35% to 0.55%	21,253		15.82 to 15.75		335,967	0.00%	15.10% to 14.86%
2003	0.35% to 0.55%	4,212		13.75 to 13.71		57,861	0.00%	34.88% to 34.61%

AllianceBernstein VPS – International Value Portfolio – Class A
2007	0.35%	1,542		30.87		47,605	1.19%	5.47%
2006	0.35%	1,552		29.27		45,429	1.40%	34.96%
2005	0.35%	1,672		21.69		36,264	0.80%	16.38%
2004	0.35%	1,672		18.64		31,160	0.02%	24.76%
2003	0.35% to 0.55%	5,292		14.94 to 14.90		78,990	0.17%	43.86% to 43.57%

AllianceBernstein VPS – Real Estate Investment Portfolio – Class A
2005	0.35%	912		21.68		19,769	2.87%	11.28%
2004	0.35%	797		19.48		15,525	0.00%	35.15%

AllianceBernstein VPS – Small/Mid Cap Value Portfolio – Class A
2007	0.35%	39		21.91		855	0.00%	1.35%
2005	0.35%	1,986		18.96		37,662	0.84%	6.54%
2004	0.35%	1,724		17.80		30,686	0.00%	18.89%

American Century VP – Inflation Protection Fund – Class II
2007	0.35% to 0.55%	172,023		12.40 to 12.28		2,128,029	4.53%	9.11% to 8.89%
2006	0.35% to 0.55%	193,573		11.37 to 11.28		2,196,709	3.34%	1.23% to 1.03%
2005	0.35% to 0.55%	205,890		11.23 to 11.16		2,307,446	4.54%	1.21% to 1.01%
2004	0.35% to 0.55%	90,590		11.10 to 11.05		1,004,099	5.40%	5.44% to 5.23%
2003	0.35% to 0.55%	20,698		10.52 to 10.50		217,659	1.06%	5.24% to 5.03%

American Century VP – Mid Cap Value Fund – Class I
2007	0.35%	818		13.18		10,783	1.30%	-2.65%

American Century VP – Ultra^®Fund – Class I
2005	0.35%	2,643		13.66		36,101	0.00%	1.81%
2004	0.35%	2,286		13.42		30,670	0.00%	10.29%

American Century VP – Value Fund – Class I
2007	0.35% to 0.55%	5,420		17.67 to 17.49		95,714	1.39%	-5.47% to -5.66%
2006	0.35% to 0.55%	4,021		18.69 to 18.54		75,115	1.44%	18.24% to 18.00%
2005	0.35% to 0.55%	2,917		15.81 to 15.71		46,084	1.19%	4.67% to 4.46%
2004	0.35% to 0.55%	1,494		15.10 to 15.04		22,544	0.00%	13.93% to 13.70%

American Century VP – Vista^SMFund – Class I
2007	0.35%	725		17.30		12,545	0.00%	39.28%

Dreyfus IP – Small Cap Stock Index Portfolio – Service Shares
2007	0.35%	401		20.47		8,210	0.00%	-1.00%

Dreyfus Stock Index Fund, Inc. – Initial Shares
2007	0.35%	12,552		17.73		222,529	1.80%	4.88%
2006	0.35%	5,123		16.90		86,593	2.22%	15.09%
2005	0.35%	1,279		14.69		18,783	1.60%	4.33%
2004	0.35%	1,286		14.08		18,103	3.39%	10.25%

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)


	Contract Expense Rate*	Units	Unit Fair Value		Contract Owners’ Equity		Investment Income Ratio**	Total Return***

VIF – Appreciation Portfolio – Initial Shares
2007	0.35% to 0.55%	65,645	$	16.15 to 15.98	$	1,057,056	1.93%	6.76% to 6.54%
2006	0.35% to 0.55%	115,323		15.12 to 15.00		1,740,931	1.52%	16.07% to 15.84%
2005	0.35% to 0.55%	125,771		13.03 to 12.95		1,635,800	0.02%	4.01% to 3.81%
2004	0.35% to 0.55%	69,765		12.53 to 12.47		873,149	2.99%	4.68% to 4.47%
2003	0.35% to 0.55%	13,335		11.97 to 11.94		159,453	2.22%	20.75% to 20.50%

Federated IS – Quality Bond Fund II – Primary Shares
2007	0.35%	3,069		12.10		37,134	4.31%	5.01%
2006	0.35%	2,661		11.52		30,660	0.00%	3.79%

Fidelity^®VIP – Equity-Income Portfolio – Service Class
2007	0.35% to 0.55%	3,112		18.83 to 18.63		58,436	2.24%	1.06% to 0.86%
2006	0.35% to 0.55%	1,813		18.63 to 18.47		33,701	3.10%	19.66% to 19.42%
2005	0.35% to 0.55%	1,877		15.57 to 15.47		29,174	1.55%	5.39% to 5.18%
2004	0.35% to 0.55%	2,060		14.77 to 14.71		30,399	0.00%	10.99% to 10.77%

Fidelity^®VIP – Growth Portfolio – Service Class
2006	0.35%	505		14.93		7,539	0.15%	6.36%
2005	0.35% to 0.55%	1,084		14.04 to 13.95		15,128	0.88%	5.30% to 5.09%
2004	0.35% to 0.55%	67,988		13.33 to 13.27		905,459	0.06%	2.90% to 2.70%
2003	0.35% to 0.55%	12,086		12.95 to 12.92		156,431	0.00%	32.32% to 32.05%

Fidelity^®VIP – Money Market Portfolio – Service Class 2
2007	0.35% to 0.55%	35,370		11.29 to 11.17		398,386	4.81%	4.55% to 4.34%
2006	0.35% to 0.55%	43,162		10.80 to 10.71		465,232	4.51%	4.26% to 4.06%
2005	0.35% to 0.55%	93,161		10.35 to 10.29		962,223	2.64%	2.43% to 2.22%
2004	0.35% to 0.55%	66,129		10.11 to 10.07		667,701	0.78%	0.60% to 0.40%
2003	0.35% to 0.55%	10,754		10.05 to 10.03		108,017	0.50%	0.39% to 0.19%

Fidelity^®VIP – Overseas Portfolio – Service Class
2006	0.35%	417		22.71		9,468	0.00%	17.54%
2004	0.35% to 0.55%	58,722		16.29 to 16.23		956,056	0.44%	13.09% to 12.86%
2003	0.35% to 0.55%	13,136		14.41 to 14.38		189,116	0.00%	42.70% to 42.42%

Fidelity^®VIP – Overseas Portfolio – Service Class R
2007	0.35% to 0.55%	68,460		17.12 to 17.03		1,170,732	3.13%	16.81% to 16.58%
2006	0.35% to 0.55%	86,943		14.66 to 14.61		1,273,494	0.90%	17.54% to 17.30%
2005	0.35% to 0.55%	115,078		12.47 to 12.45		1,434,600	0.00%	24.71% to 24.54%	(a) (b)

Fidelity^®VIP II – Contrafund^® Portfolio – Service Class
2007	0.35% to 0.55%	4,789		22.39 to 22.16		107,157	1.00%	17.09% to 16.86%
2006	0.35%	3,357		19.12		64,190	2.07%	11.20%

Fidelity^®VIP II – Investment Grade Bond Portfolio – Service Class
2007	0.35% to 0.55%	6,108		12.18 to 12.06		74,367	3.18%	3.84% to 3.64%
2006	0.35% to 0.55%	3,954		11.73 to 11.64		46,350	3.83%	3.94% to 3.73%
2005	0.35% to 0.55%	4,027		11.29 to 11.22		45,429	3.67%	1.72% to 1.52%
2004	0.35% to 0.55%	4,249		11.10 to 11.05		47,132	0.00%	3.95% to 3.75%

Fidelity^®VIP III – Mid Cap Portfolio – Service Class
2007	0.35%	9,427		15.63		147,317	0.71%	15.08%
2006	0.35%	4,658		13.58		63,252	0.39%	12.20%

Franklin Templeton VIP – Developing Markets Securities Fund – Class 2
2007	0.35% to 0.55%	336		40.43 to 40.01		13,548	1.96%	28.33% to 28.07%
2006	0.35% to 0.55%	446		31.50 to 31.24		14,027	0.94%	27.64% to 27.39%
2005	0.35% to 0.55%	357		24.68 to 24.52		8,797	3.16%	26.98% to 26.73%
2004	0.35% to 0.55%	11,584		19.44 to 19.35		225,024	0.44%	24.27% to 24.03%
2003	0.35% to 0.55%	2,343		15.64 to 15.60		36,612	0.00%	52.46% to 52.15%

Franklin Templeton VIP – Developing Markets Securities Fund – Class 3
2007	0.35% to 0.55%	26,870		20.92 to 20.81		561,512	2.66%	28.24% to 27.99%
2006	0.35% to 0.55%	36,600		16.32 to 16.26		596,719	1.30%	27.72% to 27.46%
2005	0.35% to 0.55%	42,499		12.77 to 12.76		542,769	0.23%	27.75% to 27.58%	(a) (b)

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)


	Contract Expense Rate*	Units	Unit Fair Value	Contract Owners’ Equity		Investment Income Ratio**	Total Return***

Franklin Templeton VIP – Foreign Securities Fund – Class 2
2007	0.35%	1,201	$ 24.01	$	28,831	1.68%	15.05%
2006	0.35%	1,632	20.87		34,052	1.02%	21.02%
2005	0.35% to 0.55%	1,203	17.24 to 17.13		20,741	2.96%	9.78% to 9.56%
2004	0.35% to 0.55%	51,811	15.70 to 15.64		813,015	1.16%	18.11% to 17.88%

Franklin Templeton VIP – Foreign Securities Fund – Class 3
2007	0.35% to 0.55%	39,230	15.68 to 15.60		614,506	1.93%	15.04% to 14.81%
2006	0.35% to 0.55%	51,256	13.63 to 13.59		698,219	1.77%	21.04% to 20.79%
2005	0.35% to 0.55%	104,626	11.26 to 11.25		1,177,894	0.32%	12.62% to 12.47%	(a) (b)

Franklin Templeton VIP – Global Income Securities Fund – Class 3
2007	0.35% to 0.55%	3,741	12.27 to 12.20		45,747	0.00%	10.64% to 10.42%

Franklin Templeton VIP – Growth Securities Fund – Class 2
2007	0.35% to 0.55%	1,147	20.60 to 20.39		23,558	1.33%	1.99% to 1.78%
2006	0.35% to 0.55%	1,174	20.20 to 20.04		23,659	1.31%	21.38% to 21.14%
2005	0.35% to 0.55%	1,214	16.64 to 16.54		20,168	1.14%	8.48% to 8.27%
2004	0.35% to 0.55%	1,327	15.34 to 15.28		20,335	2.11%	15.62% to 15.39%

Franklin Templeton VIP –Small Cap Value Securities Fund – Class 2
2007	0.35% to 0.55%	2,178	20.95 to 20.73		45,576	0.61%	-2.72% to -2.92%
2006	0.35% to 0.55%	1,808	21.53 to 21.36		38,894	0.65%	16.57% to 16.34%
2005	0.35% to 0.55%	1,841	18.47 to 18.36		33,982	0.76%	8.39% to 8.17%
2004	0.35% to 0.55%	1,938	17.04 to 16.97		33,014	0.31%	23.31% to 23.07%

Janus Aspen Series – Balanced Portfolio – Service Shares
2007	0.55%	813	15.62		12,702	1.97%	9.68%
2004	0.35%	442	12.17		5,378	5.43%	7.91%

Janus Aspen Series – Forty Portfolio – Service Shares
2007	0.35% to 0.55%	66,715	22.49 to 22.26		1,496,414	0.21%	36.15% to 35.88%
2006	0.35% to 0.55%	104,890	16.52 to 16.38		1,729,252	0.15%	8.74% to 8.52%
2005	0.35% to 0.55%	103,685	15.19 to 15.09		1,572,270	0.00%	12.16% to 11.94%

Janus Aspen Series – International Growth Portfolio – Service II Shares
2007	0.35%	3,985	25.42		101,284	0.46%	27.62%
2006	0.35%	2,733	19.92		54,429	1.41%	46.18%

Lord Abbett Series Fund, Inc. – Mid-Cap Value Portfolio – Class VC
2007	0.35% to 0.55%	29,559	19.46 to 19.26		573,831	0.51%	0.23% to 0.02%
2006	0.35% to 0.55%	36,785	19.41 to 19.25		712,925	0.54%	11.84% to 11.62%
2005	0.35% to 0.55%	33,604	17.36 to 17.25		582,637	0.58%	7.84% to 7.63%
2004	0.35% to 0.55%	18,301	16.10 to 16.03		294,445	0.48%	23.61% to 23.36%
2003	0.35% to 0.55%	3,281	13.02 to 12.99		42,696	1.08%	24.32% to 24.07%

Lord Abbett Series Growth and Income Fund – Class VC
2007	0.35% to 0.55%	5,944	18.47 to 18.28		109,688	1.31%	3.07% to 2.87%
2006	0.35% to 0.55%	5,496	17.92 to 17.77		98,406	1.27%	16.86% to 16.63%
2005	0.35% to 0.55%	5,598	15.33 to 15.24		85,784	1.00%	2.89% to 2.68%
2004	0.35% to 0.55%	5,309	14.90 to 14.84		79,086	1.58%	12.26% to 12.03%

MFS VIT – Value Series – Service Class
2007	0.35% to 0.55%	96,364	19.73 to 19.53		1,896,865	0.51%	7.21% to 7.00%
2006	0.35% to 0.55%	42,331	18.41 to 18.25		777,745	0.82%	20.08% to 19.84%
2005	0.35% to 0.55%	39,338	15.33 to 15.23		601,909	0.63%	6.09% to 5.88%
2004	0.35% to 0.55%	22,640	14.45 to 14.39		326,826	0.23%	14.42% to 14.19%
2003	0.35% to 0.55%	3,779	12.63 to 12.60		47,680	0.02%	24.27% to 24.02%

Neuberger Berman AMT – Fasciano Portfolio – S Class Shares
2007	0.35% to 0.55%	34,459	15.44 to 15.28		530,789	0.00%	0.16% to -0.04%
2006	0.35% to 0.55%	36,324	15.42 to 15.29		558,975	0.00%	4.88% to 4.67%
2005	0.35% to 0.55%	35,403	14.70 to 14.61		519,447	0.00%	2.54% to 2.33%
2004	0.35% to 0.55%	20,482	14.34 to 14.27		293,372	0.00%	11.49% to 11.26%
2003	0.35% to 0.55%	3,163	12.86 to 12.83		40,640	0.00%	24.63% to 24.38%

Neuberger Berman AMT – International Portfolio – Class S
2007	0.35% to 0.55%	78,383	14.83 to 14.75		1,161,152	1.68%	2.85% to 2.64%
2006	0.35% to 0.55%	73,940	14.42 to 14.37		1,065,565	0.11%	23.02% to 22.78%
2005	0.35% to 0.55%	27,390	11.72 to 11.71		321,010	0.23%	17.23% to 17.07%	(a) (b)

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)


	Contract Expense Rate*	Units	Unit Fair Value	Contract Owners’ Equity	Investment Income Ratio**	Total Return***

Oppenheimer VAF – Capital Appreciation Fund – Non-Service Shares
2007	0.35% to 0.55%	97,629	$17.49 to 17.31	$1,702,920	0.25%	13.75% to 13.52%
2006	0.35% to 0.55%	128,591	15.38 to 15.25	1,973,440	0.35%	7.57% to 7.36%
2005	0.35% to 0.55%	130,109	14.29 to 14.20	1,856,447	0.84%	4.73% to 4.52%
2004	0.35% to 0.55%	76,917	13.65 to 13.59	1,048,831	0.14%	6.56% to 6.35%
2003	0.35% to 0.55%	14,790	12.81 to 12.78	189,257	0.04%	30.49% to 30.22%

Oppenheimer VAF – Global Securities Fund – Class 3
2007	0.35%	4,115	14.95	61,527	1.21%	5.96%
2006	0.35%	3,486	14.11	49,189	0.81%	17.28%
2005	0.35%	212	12.03	2,551	0.00%	20.32%	(a) (b)

Oppenheimer VAF – Global Securities Fund – Non-Service Shares
2005	0.35%	1,241	19.24	23,872	0.96%	13.91%
2004	0.35%	1,241	16.89	20,957	0.00%	18.75%

Oppenheimer VAF – High Income Fund – Class 3
2007	0.35%	493	9.64	4,752	0.00%	-3.62%	(a) (b)

Oppenheimer VAF – High Income Fund – Non-Service Shares
2007	0.35% to 0.55%	4,437	15.37 to 15.21	68,076	7.13%	-0.45% to -0.65%
2006	0.35% to 0.55%	4,512	15.44 to 15.31	69,566	10.04%	9.04% to 8.82%
2005	0.35% to 0.55%	2,551	14.16 to 14.07	36,053	6.54%	1.96% to 1.75%
2004	0.35% to 0.55%	2,786	13.89 to 13.83	38,645	0.00%	8.59% to 8.37%

Oppenheimer VAF – Main Street Small Cap Fund^® – Non-Service Shares
2007	0.35% to 0.55%	64,300	21.10 to 20.88	1,353,407	0.32%	-1.56% to -1.76%
2006	0.35% to 0.55%	61,432	21.43 to 21.26	1,314,328	0.15%	14.60% to 14.37%
2005	0.35% to 0.55%	62,725	18.70 to 18.59	1,171,292	0.00%	9.54% to 9.32%
2004	0.35% to 0.55%	37,448	17.07 to 17.00	638,953	0.00%	19.00% to 18.76%
2003	0.35% to 0.55%	6,989	14.35 to 14.32	100,212	0.00%	43.86% to 43.57%

Oppenheimer VAF – Main Street^® – Non-Service Shares
2006	0.35%	275	16.67	4,583	0.12%	14.62%
2005	0.35% to 0.55%	1,018	14.54 to 14.45	14,714	1.62%	5.61% to 5.39%

PIMCO VIT – High Yield Portfolio – Administrative Shares
2007	0.35% to 0.55%	51,858	16.76 to 16.58	866,578	7.31%	3.15% to 2.95%
2006	0.35% to 0.55%	62,855	16.24 to 16.11	1,019,006	7.03%	8.69% to 8.47%
2005	0.35% to 0.55%	71,777	14.94 to 14.85	1,070,273	6.68%	3.75% to 3.54%
2004	0.35% to 0.55%	38,412	14.40 to 14.34	552,572	5.03%	9.14% to 8.92%
2003	0.35% to 0.55%	5,561	13.20 to 13.17	73,320	4.06%	22.42% to 22.17%

PIMCO VIT – Low Duration Portfolio – Administrative Shares
2007	0.35% to 0.55%	125,556	11.67 to 11.55	1,462,001	4.63%	7.00% to 6.78%
2006	0.35% to 0.55%	139,944	10.91 to 10.82	1,524,158	4.28%	3.60% to 3.39%
2005	0.35% to 0.55%	153,951	10.53 to 10.47	1,617,887	3.86%	0.65% to 0.45%
2004	0.35% to 0.55%	135,231	10.46 to 10.42	1,413,258	0.50%	1.48% to 1.28%

PIMCO VIT – Total Return Portfolio – Administrative Shares
2007	0.35% to 0.55%	274,511	12.87 to 12.74	3,523,911	4.60%	8.36% to 8.14%
2006	0.35% to 0.55%	260,016	11.88 to 11.78	3,082,824	4.41%	3.48% to 3.28%
2005	0.35% to 0.55%	252,413	11.48 to 11.41	2,891,052	3.44%	2.07% to 1.86%
2004	0.35% to 0.55%	73,293	11.25 to 11.20	823,162	1.27%	4.51% to 4.30%
2003	0.35% to 0.55%	20,255	10.76 to 10.73	217,749	1.39%	4.67% to 4.46%

Putnam VT – Small Cap Value Fund – IB Shares
2007	0.35%	404	19.49	7,873	0.00%	-13.03%

T. Rowe Price Blue Chip Growth Portfolio – II
2007	0.35% to 0.55%	28,423	13.79 to 13.71	391,451	0.00%	12.09% to 11.87%

T. Rowe Price Equity Income Portfolio – II
2007	0.35%	7,451	12.88	95,982	1.57%	2.67%
2006	0.35%	5,209	12.55	65,358	1.24%	18.23%

(Continued)

NATIONWIDE VARIABLE ACCOUNT-13 (NOTES TO FINANCIAL STATEMENTS, Continued)


	Contract Expense Rate*	Units	Unit Fair Value			Contract Owners’ Equity	Investment Income Ratio**	Total Return***

Van Kampen LIT – Growth and Income Portfolio – Class I
2007	0.35% to 0.55%	79,517	$	19.38 to 19.18	$	1,536,978	1.48%	2.44% to 2.23%
2006	0.35% to 0.55%	72,151		18.92 to 18.76		1,362,295	1.15%	15.83% to 15.60%
2005	0.35% to 0.55%	78,812		16.33 to 16.23		1,284,696	1.00%	9.60% to 9.38%
2004	0.35% to 0.55%	46,642		14.90 to 14.84		694,313	0.42%	13.98% to 13.75%
2003	0.35% to 0.55%	7,868		13.07 to 13.04		102,764	0.15%	27.58% to 27.33%

Van Kampen UIF – Emerging Markets Debt Portfolio – Class I
2003	0.35% to 0.55%	6,890		13.37 to 13.34		92,048	0.00%	27.42% to 27.16%

Van Kampen UIF – U.S. Real Estate Portfolio – Class I
2007	0.35% to 0.55%	40,037		25.56 to 25.30		1,020,786	1.14%	-17.36% to -17.53%
2006	0.35% to 0.55%	32,916		30.93 to 30.68		1,016,261	1.11%	37.56% to 37.29%
2005	0.35% to 0.55%	41,247		22.48 to 22.34		925,804	1.33%	16.64% to 16.41%
2004	0.35% to 0.55%	26,488		19.28 to 19.19		510,160	1.53%	35.92% to 35.65%
2003	0.35% to 0.55%	5,737		14.18 to 14.15		81,301	0.00%	37.03% to 36.76%


2007 Contract owners’ equity					$	25,581,573


2006 Contract owners’ equity					$	24,711,133


2005 Contract owners’ equity					$	23,564,680


2004 Contract owners’ equity					$	12,799,996


2003 Contract owners’ equity					$	1,991,806


*		This represents the annual contract expense rate of the variable account for the period indicated and includes only those expenses that are charged through a reduction in the unit values. Excluded are expenses of the underlying mutual funds and charges made directly to contract owner accounts through the redemption of units.

**		This represents the dividends for the period indicated, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund, net of management fees assessed by the fund manager, divided by average net assets. The ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions to the contract holder accounts through reductions in unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying fund in which the subaccounts invest.

***		This represents the range of minimum and maximum total returns for the underlying mutual fund option for the period indicated. The calculation of these returns reflects a deduction for expenses assessed through the daily unit value calculation. It does not include any expenses assessed through the redemption of units, the inclusion of which would result in a reduction of the total return presented.

(a) & (b)		Denote the minimum and maximum of the total return ranges, respectively, for underlying mutual fund options that were added during the reporting period. These returns were not annualized. Minimum and maximum ranges are not shown for underlying mutual fund options for which a single contract expense rate (product option) is representative of all units issued and outstanding at period end. Such options that were added during the reporting period are designated using both symbols.

Report of Independent Registered Public Accounting Firm

The Board of Directors of Nationwide Life Insurance Company and

Contract Owners of Nationwide Variable Account-13:

We have audited the accompanying statement of assets, liabilities and contract owners’ equity of Nationwide Variable Account-13 (comprised of the sub-accounts listed in note 1(b) (collectively, “the Accounts”)) as of December 31, 2007, and the related statements of operations and changes in contract owners’ equity, and the financial highlights for each of the periods indicated herein. These financial statements and financial highlights are the responsibility of the Accounts’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2007, by correspondence with the transfer agents of the underlying mutual funds. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of the Accounts as of December 31, 2007, and the results of their operations, changes in contract owners’ equity, and financial highlights for each of the periods indicated herein, in conformity with U.S. generally accepted accounting principles.

/s/ KPMG LLP

Columbus, Ohio

March 18, 2008

NATIONWIDE LIFE INSURANCE COMPANY

HOME OFFICE: ONE NATIONWIDE PLAZA • COLUMBUS, OHIO 43215-2220

PRSRT STD

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NATIONWIDE

Nationwide^®is a registered federal service mark of Nationwide Mutual Insurance Company