Conseco Finance Corp. Names New Mortgage Head, Treasurer.

Business Editors

ST. PAUL, Minn.--(BUSINESS WIRE)--July 23, 2001

Conseco Finance Corp. announced that Phyllis A. Knight has been promoted to the position of president, Conseco Mortgage Services, and Keith Anderson has been promoted to the position of senior vice president and treasurer.

Knight joined Conseco Finance in 1994 and has served in a variety of executive positions in treasury and accounting. Since 1996 she has been senior vice president and treasurer, responsible for the company's funding and capital market activities, financial risk management, and rating agency relationships.

Knight will now have the opportunity to apply these disciplines to the management of Conseco Finance's mortgage business. The company is the third largest non-conforming mortgage lender in the country, with $3.6 billion in home equity originations last year.

Knight will report to president and CEO Bruce Crittenden. In announcing her promotion, Crittenden said, "I've had the pleasure of working with Phyllis Knight for a number of years and during some challenging times. She's impressed me with her breadth of knowledge regarding our businesses, and not just on the financial side. I am confident that under Phyllis' leadership, our mortgage operation will grow and prosper, as it has in the past."

Before joining Conseco Finance, Knight spent nearly 10 years with KPMG Peat Marwick in Detroit and Minneapolis, working in its mortgage banking and structured finance practices. She is a CPA and graduate of Michigan State University, East Lansing, Mich.

Keith Anderson joined Conseco Finance in 1995 as director of merchant and customer risk. He has held various positions in the company, including chief of staff and president of the Leasing and Transportation Division. In September 2000 Anderson was promoted to controller and chief accounting officer. Over the past two years, he has played a vital role in the successful restructuring of Conseco Finance. Anderson will report to executive vice president and CFO Neal Cohen.

Prior to his tenure at Conseco Finance, Anderson served as director of internal reporting for Household International in Prospect Heights, Ill. He began his career as an audit supervisor at Touche Ross and Company in Chicago. Anderson has a bachelor's degree with honors in accounting from Illinois State University and a master's degree from DePaul University, Chicago. He is a CPA.

Conseco Finance Corp., with managed assets of $48 billion, is one of America's largest finance companies and a leader in the home equity, home improvement, manufactured housing finance and private label credit card businesses. Conseco Finance is a subsidiary of Conseco, Inc. (NYSE:CNC), headquartered in Indianapolis, Ind. To learn more about Conseco, visit www.conseco.com.