AmerUs Group Warrants To Expire April 3, 2002.

Business Editors

DES MOINES, Iowa--(BUSINESS WIRE)--Feb. 19, 2002

AmerUs Group Co. (Nasdaq:AMRSW) today announced its outstanding warrants will expire at 5 p.m. (CST) on April 3, 2002 in accordance with the terms of the warrant agreement. AmerUs Group assumed the outstanding warrants under the terms of its acquisition of AmVestors Financial Corp. in December 1997.

Under the terms of the warrant agreement, each warrant entitles the holder the right to purchase 0.6724 shares of AmerUs Group common stock (NYSE:AMH) at a price of $16.42. The warrants are exercisable only for whole shares and no fractional shares will be issued.

Parties interested in exercising their rights under the terms of the warrant agreement should send exercise instructions, via certified mail, with valid warrant certificates and funds paid only in lawful money of the United States to:

                             AmerUs Group
                     Corporate Secretary's Office
                        699 Walnut Street H-75
                        Des Moines, Iowa 50309

                                  Or

                         AmerUs Annuity Group
                       General Counsel's Office
                        555 South Kansas Avenue
                           Topeka, KS 66603

AmerUs Group Co. is an Iowa corporation located in Des Moines, Iowa, engaged through its subsidiaries in the business of marketing and underwriting individual life insurance and annuity products in 50 states, the District of Columbia and the U.S. Virgin Islands. Its subsidiaries include: AmerUs Life Insurance Company, American Investors Life Insurance Company, Inc., Bankers Life Insurance Company of New York, Delta Life and Annuity Company, Financial Benefit Life Insurance Company, IL Annuity and Insurance Company, Indianapolis Life Insurance Company and Western Security Life Insurance Company.

As of December 31, 2001, AmerUs Group's total assets were $18.3 billion and shareholders' equity totaled $1,238.5 million, including accumulated other comprehensive income.