Protective Partners With Independent Order of Foresters and FESCO to Offer Variable Life Products.

Business Editors

CINCINNATI--(BUSINESS WIRE)--April 2, 2001

Protective and Foresters Equity Services Launch Variable Universe

Life Program in Approximately 47 States

Protective Life Insurance Company (NYSE:PL) today announced an agreement to sell its variable universal life products to members of one of the world's largest fraternal benefit societies, the Independent Order of Foresters (IOF Foresters). The products will be sold through IOF Forester's broker-dealer subsidiary, Foresters Equity Services, Inc. (FESCO). Protective and FESCO launched the program in approximately 47 states earlier this year.

"Protective's strategic marketing alliance with IOF Foresters is consistent with our mutual commitment to helping individuals and their families achieve financial security and protection. Both organizations have the opportunity to expand in the marketplace by focusing on need-based products and a high level of service," said John Deremo, a Protective Vice President.

"We're excited to enter this alliance with one of the nation's largest and most trusted fraternal benefit societies. With Protective's experience and expertise in variable life insurance products, we'll be able to offer IOF Foresters members great value in personal insurance products," said Deremo.

"We've been listening to our members," said Hugh Simpson, IOF Forester's Vice President of Business Development. "They're telling us they want high-quality financial products at fair prices that are convenient to obtain. And they want these products through an organization they trust. We're very excited because Protective's variable universal life products allow us to meet these needs."

Simpson said IOF Forester's distribution strategy in the US is to target two key member and prospect markets; young families and people planning for retirement. "We are committed to providing financial services based on member needs, and better service, as well as striving to improve the lives of our members and their families. IOF Foresters is also dedicated to improving the communities in which they live."

FESCO, formed in 1986, is a registered broker-dealer. Stephanie Malkewicz, President of FESCO, said, "FESCO has worked successfully for the past two years marketing the Protective variable annuities, and we anticipate an even stronger relationship with the support of their consultants and quality variable universal life products that will meet our members' expectations."

Founded in 1874, the IOF Foresters is a million-member strong international fraternal benefit society with members in the United States, Canada and the United Kingdom. Its mission is to provide benefits and financial products to its members and serve their communities through fundraising activities, local projects and volunteerism, with a particular emphasis on helping children.

Founded in 1907, Protective Life Insurance Company, offers a competitive selection of life insurance and annuities throughout the United States.

Protective Life Insurance Company's variable universal life insurance products are distributed by Investment Distributors, Inc., the principal underwriter. Protective Life Insurance Company and Investment Distributors, Inc. are subsidiaries of Protective Life Corporation (NYSE:PL), and are located at 2801 Highway 280 South, Birmingham, AL 35223.

For a free prospectus containing more information about a Protective variable life insurance product, including charges and expenses, call Protective at 800/628-6390. Please read the prospectus carefully before you invest or send money.

For information about Foresters Equity Services, Inc. (FESCO), call 800/350-9885.