Conseco Finance Expands Western Service Center; Black Hills' Largest Private Employer Has Room to Add 500 Jobs.

Business Editors

ST. PAUL, Minn.--(BUSINESS WIRE)--Dec. 13, 2000

Conseco (NYSE:CNC)

"Conseco's presence has been tremendous for the area. It's made an

impact locally, regionally and statewide." - Chris Braendlin,

Governor's Office of Economic Development.

Conseco Finance Corp. management recently announced the completion of a multimillion dollar, 75,000-square-foot expansion at its Western Service Center facility in Rapid City, S.D.

Dan Finn, vice president and director of Retail Services for Conseco Finance, says that the company outgrew its original 120,000-square-foot facility. "It was an easy decision to expand in South Dakota because we've found the state to be an ideal place to do business," says Finn. "South Dakota offers us both a geographic advantage -- a mid-country location that's perfect for our customers on both coasts -- and a superb work force. We've been able to put together a committed team with a strong work ethic."

Adds Bruce Crittenden, president of Conseco Finance Corp., "Our investment in the Western Service Center and the state of South Dakota demonstrates the commitment Conseco Finance is making to its core businesses. We recognize the importance of providing world-class customer service, so the investments in facilities, technology, and our associates make sense."

Conseco Finance's commitment to South Dakota has improved the caliber of jobs in the state. Says Chris Braendlin, director of business development for the governor's Office of Economic Development, "Conseco's presence has been tremendous for the area. It's made an impact locally, regionally and statewide. The quality of jobs, benefits and management provided by Conseco has been outstanding. We're excited by what Conseco has accomplished in the past and look forward to a continued relationship and mutual growth."

To date, Conseco Finance has created over 1,300 primary, nonretail, jobs in Rapid City and has helped to improve the quality of life and career opportunities for area residents. Says Terri Haverly, vice president of Rapid City Economic Development, "Over the last nine years we've had a 30 percent increase in the prevailing wage. Much of the credit for this increase goes to Conseco Finance. Their entry into the market in 1995 marked a turning point in terms of the types of jobs that Rapid City has been able to attract."

In addition, Conseco Finance has played a major role in the area's current 1.6 percent unemployment rate. Says Haverly, "Conseco's success has had an impact at many levels. For instance, we've found that for every 100 primary jobs, we can expect to see the creation of 64 secondary jobs. Conseco's presence has been felt throughout the community."

Conseco Finance's role in increasing business opportunities in Rapid City was acknowledged with a "Magnet Award" in 1996. More recently, Conseco Finance was designated the 2000 recipient of the "Granite Award," given by the Rapid City Area Chamber of Commerce to companies providing strength and stability to the local economy. Says Haverly, "In the past, much of the job growth was in jewelry-making and service industries. Conseco helped to create a new category of employment."

The Western Service Center provides customer support for all of Conseco Finance Corp.'s businesses. Recently, the company has made significant technology investments to improve service levels. An image-based credit processing system reduces decision times to minutes, while a new customer relationship management program provides up-to-the-minute knowledge of each customer's relationship and preferences across multiple business lines. Conseco Finance associates are transforming traditional customer service into customer-focused solutions.

Conseco Finance Corp., with assets of $48 billion, is one of America's largest finance companies. In just four years, Conseco Finance has become one of the top five issuers of private-label credit cards. The company is also a leader in the home equity, home improvement and manufactured housing finance businesses. Conseco Finance is a subsidiary of Conseco, Inc. (NYSE:CNC), headquartered in Carmel, Ind.