Fitch Ratings Affirms/Downgrades Certain Conseco ABS Transactions.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 15, 2002

Fitch Ratings announced today that the ABS Group has completed the initial phase of the Conseco Finance Corp. (CFC) securitization review originally announced on Feb. 5, 2002. The review is intended to determine, across all asset types, if performance has deteriorated outside of the ranges anticipated by the current ratings. The ABS group's review included transactions backed by the following asset types: Recreational Vehicle loans, Credit Card receivables, Equipment leases, Truck loans and Dealer Floorplan loans. (See a separate press release from Fitch's Residential Mortgage Group for the status of the Manufactured Housing, Home Equity and Home Improvement transaction reviews.)

Based on that review, the class B tranches of the 1996 B, C, D; 1997 A, B, C, D and 1998-A Green Tree Recreational, Equipment and Consumer Trust transactions are rated 'B' and are removed from Rating Watch Negative where they were placed on Dec. 3, 2001. The class B tranches of these transactions are guaranteed by CFC and normally carry a rating equivalent to CFC's senior unsecured rating, currently 'CCC'. The class B tranches were placed on Rating Watch while Fitch determined if the excess spread, which is also available to cover losses, was sufficient to maintain ratings higher than CFC's rating. Credit enhancement for the class B tranches was deemed to be consistent with the current ratings based on losses experienced to date and future loss expectations.

Ratings on the Conseco Finance Vehicle Trust 2000-B truck transaction are downgraded as listed below and remain on Rating Watch Negative. The downgrades reflect continued deterioration in CFC's truck portfolio well outside of Fitch's original expectations. This transaction was originally placed on Rating Watch on Aug. 30, 2001 and initially downgraded on Dec. 13, 2001 due to a slowing economy, volatile fuel prices, and a decrease in transport traffic, which contributed to an increase in delinquencies and loss frequency. Cash flow from vehicle liquidation at the time had fallen short of expectations resulting from a weakening wholesale market and slower disposition timelines. Since then, loss frequency has remained high and recovery rates have shown little improvement. Fitch does not expect these conditions to improve in the near future.

Fitch Ratings remains concerned with the limited financial flexibility of CFC as reflected by Fitch's current senior unsecured rating of 'CCC'. It is unclear at this point, what impact further deterioration in CFC's financial profile might have on the quality of the company's servicing operations. Fitch will continue to closely monitor CFC's various securitizations with particular emphasis on the truck and credit card portfolios as these portfolios are longer term loans (trucks) or are of a more recent vintage (credit cards).

Green Tree Recreational, Equipment and Consumer Trust

--Series 1996 B class B 'B';

--Series 1996 C class B 'B';

--Series 1996 D class B 'B';

--Series 1997 A class B 'B';

--Series 1997 B class B 'B';

--Series 1997 C class B 'B';

--Series 1997 D class B 'B';

--Series 1998 A class B-C, B-H 'B';

*All classes are removed from Rating Watch Negative.

Conseco Finance Vehicle Trust 2000-B

--Class A-2 to 'BBB+' from 'AAA';

--Class A-3 to 'BBB' from 'AAA';

--Class M-1 to 'BB' from 'A';

--Class M-2 to 'B' from 'BBB';

--Class B from to 'CCC' from 'BBB-';

*All classes remain on Rating Watch Negative.