Conseco Issues Investor Update.

Business Editors

CARMEL, Ind.--(BUSINESS WIRE)--April 20, 2000

Conseco, Inc. (NYSE:CNC) today issued a statement updating the investment community on the following items:

1Q00 earnings release and conference call scheduled for Friday, April 28, 2000 ---------------------------------------------------------------------

Conseco will report its financial results for the first quarter of 2000 before the market opens on Friday, April 28, 2000. The company will host its regular quarterly conference call later that morning. During the call management will comment on the results, then respond to questions. Please contact Conseco Investor Relations at 317.817.2893 to receive a copy of the earnings release or for conference call details.

Business production growth in 1Q00 continued its strong growth trend ---------------------------------------------------------------------

On a preliminary basis, collections on insurance and asset accumulation products in our core insurance operations rose by 25 percent in 1Q00 to a record $2.0 billion. Total finance volume was $5.0 billion and managed finance receivables grew by 20 percent to a record $47.2 billion.

Conseco's financial condition and liquidity position are adequate to support ongoing operations ---------------------------------------------------------------------

As confirmed recently by the major credit rating agencies, our liquidity position remains sufficient to meet our operating needs and financial obligations. Conseco and Conseco Finance are in compliance with all existing credit facilities, and we remain confident in our ability to utilize these facilities and access other sources to fund operations. We continue to generate strong cash flow from operations ($1.8 billion in 1999), and we have substantial assets on our balance sheet that could be used to generate additional liquidity.

Conseco remains optimistic that it will reach a successful sale of Conseco Finance ---------------------------------------------------------------------

Our goal is to reach a definitive agreement on the sale by early 3Q00. Conseco Finance is a powerful franchise with leading positions in several markets, time-tested growth platforms, expanding margins and loss ratios that are the lowest of any major industry participant. Completion of a divestiture transaction will allow us to renew our focus on our core strengths - insurance operations and investment management - where we have compiled a successful operating record.

Chairman's statement ---------------------------------------------------------------------

Chairman Stephen C. Hilbert said, "We believe that the strengths of our business operations, both in insurance as well as consumer finance, are not properly reflected in the valuation of our public securities at the present time. In spite of this, we are confident that we will successfully execute our strategic and operating plans during this period of unwarranted volatility in the markets."

Headquartered in Carmel, Ind., Conseco is one of middle America's leading sources for insurance, investment and lending products. Through its subsidiaries and a nationwide network of distributors, Conseco helps 13 million customers step up to a better, more secure future.

World Wide Web http://www.conseco.com Investor Hotline 800.4.CONSECO Fax-on-Demand 800.344.6452

Note on forward-looking statements: All statements, trend analyses and other information contained in this press release and elsewhere (such as in filings by Conseco with the Securities and Exchange Commission, press releases, presentations by Conseco or its management or oral statements) relative to markets for Conseco's products and trends in Conseco's operations or financial results, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "should," "could," "goal," "target," "on track," "comfortable with" and other similar expressions, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include, among other things: (1) general economic conditions and other factors, including prevailing interest rate levels, stock and credit market performance and health care inflation, which may affect (among other things) Conseco's ability to sell its products, its ability to make loans and access capital resources and the costs associated therewith, the market value of Conseco's investments, the lapse rate and profitability of policies, and the level of defaults and prepayments of loans made by Conseco; (2) Conseco's ability to achieve anticipated synergies and levels of operational efficiencies; (3) customer response to new products, distribution channels and marketing initiatives; (4) mortality, morbidity, usage of health care services and other factors which may affect the profitability of Conseco's insurance products, (5) performance of our investments; (6) changes in the Federal income tax laws and regulations which may affect the relative tax advantages of some of Conseco's products; (7) increasing competition in the sale of insurance and annuities and in the finance business; (8) regulatory changes or actions, including those relating to regulation of financial services affecting (among other things) bank sales and underwriting of insurance products, regulation of the sale, underwriting and pricing of products, and health care regulation affecting health insurance products; (9) the outcome of the contemplated sale process relating to Conseco Finance Corp., and (10) the risk factors or uncertainties listed from time to time in Conseco's filings with the Securities and Exchange Commission.