Conseco Appoints New Chief Financial Officer.

Business Editors

INDIANAPOLIS--(BUSINESS WIRE)--March 21, 2001

Conseco, Inc. (NYSE:CNC) today announced the appointment of Charles B. Chokel as its new Chief Financial Officer. Chokel joins Gary Wendt's new senior management team at Conseco after 23 years at Progressive Corporation, one of the largest auto insurance companies in the country. Chokel will also be nominated to serve on the Conseco Board of Directors.

Most recently, Chokel served as co-CEO at Progressive responsible for investments and capital management. From 1991 to 1998, he was Chief Financial Officer at Progressive managing most corporate departments. Additionally, he had profit and loss responsibility for diversified businesses that had 1,200 employees.

Wendt lauded Chokel's experience in the finance function. "Chuck's experience is absolutely perfect for the NEW Conseco. He's done it all and done it all well." Wendt said Chokel's industry experience will be a benefit, bringing a different perspective to the Conseco management team from an adjacent industry.

"As impressive as his finance experience is," said Wendt, "I love the fact that we will have a CFO with strong operating experience. He's run a business. He's even been a sales and marketing manager. This is just a great plus for our team."

From 1986 to 1991, Chokel was President of Progressive's California division. Under his leadership, this operation became Progressive's fastest growing, most profitable division in the United States.

Mr. Chokel holds an MBA from the University of Chicago. He began his career at Progressive as a Financial Analyst in 1978. Prior to his service as President of the California division, he was, in succession, National Sales Manager, Auto Product Manager and Western Region Market Manager at Progressive.

Commenting on his appointment, Chokel said, "I am excited to be joining Conseco. The plan that Gary has outlined to build shareholder value is going to work, and I am eager to play my role."

Wendt took this occasion to thank Tom Hagerty for his service the past eight months as acting CFO. "When the history of the NEW Conseco is written," said Wendt, "one of the real heroes will be Tom Hagerty. He was instrumental at every turn in the extraordinary accomplishments of the past eight months."

Hagerty, who will return to his duties as a partner at the private equity firm of Thomas Lee Partners, will remain on the Conseco Board of Directors. Thomas Lee Partners owns approximately 7 percent of Conseco common stock.

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