Conseco, Inc. Announces Correction To Taxable Income Reported To Holders of Trust Preferred Securities.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Feb. 28, 2003 Conseco, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNCEQ) in consultation with its legal counsel, has concluded that it incorrectly reported Original Issue Discount ("O.I.D.") to holders of the following instruments with respect to the 2002 taxable year Taxable year The 12-month period an individual uses to report income for income tax purposes. For most individuals, their tax year is the calendar year. :
Conseco, Inc. 8.7% TruPS due November 15, 2026
Conseco, Inc. 9.16% TOPrS due November 30, 2026
Conseco, Inc. 8.7% TOPrS due September 30, 2028
Conseco, Inc. 8.796% Capital Securities due April 1, 2027
Conseco, Inc. 9.0% TOPrS due December 31, 2028
Conseco, Inc. 9.44% TOPrS due September 30, 2029
Conseco, Inc. 7% Feline Prides
No O.I.D. should have been reported on these instruments. The
amounts of O.I.D. previously reported per $1,000 face value are
reflected in the following table:
2002 O.I.D. income reported
in error per $1,000 face
------------------------
Conseco, Inc. 8.7% TruPS due
November 15, 2026 $55.58
Conseco, Inc. 9.16% TOPrS due
November 30, 2026 $46.56
Conseco, Inc. 8.796% Capital
Securities due April 1, 2027 $66.95
Conseco, Inc. 8.7% TOPrS due
September 30, 2028 $44.23
Conseco, Inc. 9.0% TOPrS due
December 31, 2028 $45.75
Conseco, Inc. 9.44% TOPrS due
September 30, 2029 $47.99
Conseco, Inc. 7% Feline Prides $35.58
Conseco, Inc. is utilizing this news release to alert holders of these instruments. The O.I.D. was reported to the holders of these instruments by their brokers, principally Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , A.G. Edwards & Sons, UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System PaineWebber, Prudential Prudential is the name of two different companies and buildings named after them: Companies:
See: Depository Transfer Check DTC See: Depository Trust Company DTC See Depository Trust Company (DTC). . As a consequence, Conseco, Inc. is not aware of who the holders of these instruments are, and, therefore, cannot individually report this change to each holder. Conseco, Inc. cannot provide tax advice but recommends that holders of these instruments retain a copy of this news release for their tax records and provide a copy of this news release to their tax preparer. |
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