Principal Variable Contracts Funds, Inc.

POWER OF ATTORNEY

The member of the board of directors whose signature appears below, hereby constitutes and appoints Michael 

J. Beer, David J. Brown, Jill R. Brown, Ernest H. Gillum, Michael D. Roughton, and Beth C. Wilson, and each of 

them, his/her true and lawful attorneys and agents, with full power and authority of substitution and 

resubstitution, to do any and all acts and things and to execute any and all instruments which said attorneys and 

agents, or any of them, may deem necessary or advisable or which may be required to enable Principal Variable 

Contracts Funds, Inc. (“PVC”) to comply with the Investment Company Act of 1940, as amended, and the 

Securities Act of 1933, as amended (collectively, the "Acts"), and any rules, regulations or requirements of the 

Securities and Exchange Commission in respect thereof, in connection with the filing and effectiveness of the 

following registration statements and any amendments thereto including specifically, but without limiting the 

generality of the foregoing, the power and authority to sign in the name and on behalf of the undersigned as a 

director and/or officer of PVC any and all such registration statements and amendments filed with the Securities 

and Exchange Commission under the Acts, and any other instruments or documents related thereto, and the 

undersigned does hereby ratify and confirm all that said attorneys and agents, or any of them, shall do or cause 

to be done by virtue hereof: 

A registration statement on Form N-14 relating to (1) PVC Short-Term Bond Account into PVC Short-Term 

Income Account, (2) PVC Government & High Quality Bond Account into PVC Mortgage Securities Account, (3) 

PVC MidCap Value Account II into PVC MidCap Blend Account, (4) PVC MidCap Growth Account I into PVC 

MidCap Blend Account, and (5) PVC International SmallCap Account into PVC Diversified International Account 

to be filed with the Securities and Exchange Commission in April 2010 or as soon thereafter as practicable. 

Date:	March 8, 2010
/s/ E. Ballantine		/s/ K. Blake
E. Ballantine		K. Blake
/s/ C. Damos		/s/ N. M. Everett
C. Damos		N. M. Everett
/s/ R. W. Gilbert		/s/ M. A. Grimmett
R. W. Gilbert		M. A. Grimmett
/s/ F. S. Hirsch		/s/ W. C. Kimball
F. S. Hirsch		W. C. Kimball
/s/ B. A. Lukavsky		/s/ W. Papesh
B. A. Lukavsky		W. Papesh
/s/ D. Pavelich
D. Pavelich