Conseco Commences Tender Offer For Its 8-1/8 Percent Senior Notes Due Feb. 15, 2003.

CARMEL, Ind.--(BUSINESS WIRE)--April 1, 1998--Conseco, Inc. (NYSE:CNC) today announced that it is commencing a fixed spread tender offer for any and all of its 8-1/8 percent Senior Notes due 2003, CUSIP 208464AD9. The offer will commence at 9:00 a.m. New York City time today, and will expire at 5:00 p.m. New York City time on Tuesday, April 21, 1998, unless extended or earlier terminated.

The purchase price to be paid for each Note properly tendered will be the price per $1,000 principal amount equal to a spread of 42 basis points over the yield to maturity of the 5-1/2 percent U.S. Treasury Note due Feb. 28, 2003, at the time a holder tenders its Notes. In addition, Conseco will pay accrued and unpaid interest, up to but excluding the settlement date.

Requests for documents may be directed to Georgeson & Company Inc., the information agent, at 800.223.2064 (toll free). Questions regarding the tender offer may be directed to Chase Securities, Inc. (contact Simon Morgan or Jonathan Sack), the exclusive dealer manager for the tender offer, at 212.834.3459 (call collect). To tender Notes, holders should call Keith Melchionni at Chase Securities Inc. at 800.523.9736 (toll free). The funds necessary to purchase the Notes will be provided from available cash, existing credit facilities, or the issuance of commercial paper.

Headquartered in Carmel, Ind., Conseco is a financial services organization dedicated to providing its customers with solutions for both wealth protection and creation. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities and universal life insurance.

CONTACT: Conseco, Inc.

Jim Rosensteele, 317/817-2893

World Wide Web: http://www.conseco.com

Investor Hotline: 800/4-CONSECO

Fax-on-Demand: 800/344-6452