Conseco Adds Seven Investment Options to Great American Future Reserve Variable Annuities.

CARMEL, Ind.--(BUSINESS WIRE)--July 8, 1997--Conseco Inc. (NYSE:CNC) announced today that seven new investment options and three of America's respected money managers have been added to the Great American Future Reserve Variable Annuities (Achievement Series and Educator Series).

L. Gregory Gloeckner, executive vice president for registered products with Conseco Marketing LLC, said, "We are very pleased to welcome the Growth Fund II and Special Fund II from Strong, the Limited Maturity Bond Portfolio and Partners Portfolio of Neuberger & Berman Advisers Management Trust, the VP Value Fund and VP International Fund portfolios from American Century, and the Berger/BIAM IPT International Fund (an existing money manager) to our variable annuity family. We are also pleased with the reception of our products in the marketplace. Our variable annuity products are now sold by 93 broker dealers (more than double the number of a year ago), encompassing more than 28,000 registered representatives."

The Great American Future Reserve is offered in the tax-sheltered annuity market as the Educator Series and in the non-qualified and IRA markets as the Achievement Series. It now features 30 different investment choices from 10 investment managers, in addition to a fixed account. Other managers include: Conseco Capital Management, Inc. (CCM, Conseco's wholly owned registered investment advisor), Berger, Dreyfus Corp., Federated Investors, Fred Alger Management, Inc., Janus Capital Corp., and Van Eck Global.

Great American Future Reserve Variable Annuities are underwritten by Conseco Equity Sales, Conseco's wholly owned broker/dealer. A prospectus containing more complete information, including management fees and other expenses, may be obtained by writing to Conseco Equity Sales at 11815 N. Pennsylvania Street, Carmel, IN 46032, or by calling [phone]. An investor should read the prospectus carefully before investing or sending money.

Conseco is a financial services organization headquartered in Carmel, Ind. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities and universal life insurance. At March 31, 1997, CCM had $31.1 billion of managed assets, including $12.1 billion from unaffiliated insurance companies and other outside clients.

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CONTACT: Conseco Inc.

Jim Rosensteele, 317/817-2893

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