AmerUs Group Co. Announces Six Million Share Repurchase Program.

DES MOINES, Iowa -- AmerUs Group Co. (NYSE:AMH), a leading producer of life insurance and annuity products, announced today the authorization of a stock repurchase program. Under the program, AmerUs Group's board of directors has authorized the repurchase, from time to time, of up to six million shares of AmerUs Group Co. common stock, no par value per share. This authorization supercedes any previous stock repurchase programs approved by AmerUs Group's board of directors.

The stock repurchase program may be effected through open market transactions, privately negotiated transactions and/or other methods, which may include derivative transactions such as sales of puts, or purchases and sales of calls, on outstanding shares of AmerUs Group common stock. The timing of the repurchase of shares pursuant to the program will depend on a variety of factors, including market conditions. The program may be suspended or discontinued at any time. AmerUs Group has no obligation to repurchase shares under the authorization, and the timing, actual number and value of shares to be purchased will depend on AmerUs Group's stock price and market conditions.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information and relate to future operations, strategies, financial results or other developments. Additionally, forward-looking statements are subject to assumptions, risks and uncertainties. Statements such as "expect," "anticipate," "believe," "goal," "objective," "target," "may," "should," "estimate," "projects," or similar words as well as specific projections of future results qualify as forward-looking statements. Factors that may cause our actual results to differ materially from those contemplated by these forward-looking statements can be found in the company's 10-K, filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made and AmerUs Group undertakes no obligation to update such forward-looking statements. There can be no assurance that other factors not currently anticipated by the company will not materially and adversely affect our results of operations. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.

About AmerUs Group

AmerUs Group Co. is located in Des Moines, Iowa, and is engaged through its subsidiaries in the business of marketing individual life insurance and annuity products in the United States. Its major subsidiaries include: AmerUs Life Insurance Company, American Investors Life Insurance Company, Inc., Bankers Life Insurance Company of New York and Indianapolis Life Insurance Company.

As of March 31, 2005, AmerUs Group's total assets were $23.5 billion and shareholders' equity totaled $1.6 billion, including accumulated other comprehensive income.