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CONSECO, INC. $175 MILLION SENIOR NOTE ISSUE RATED 'BBB'

 CHICAGO, Feb. 9 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has rated the $175 million 10 year senior note issue of Conseco, Inc. (NYSE: CNC) (Conseco) BBB' (Triple-B). The rating reflects the company's excellent asset quality, strong profitability and declining financial leverage. Proceeds from the offering will be used to redeem all of its outstanding 12.75 percent senior subordinated notes due in 1997 and for general corporate purposes.
 On Jan. 26, 1993, Duff & Phelps upgraded the senior subordinated debt rating from BB' (Double-B) to BBB' (Triple-B) upon completion of the $278.5 million convertible preferred stock issuance announced in December. On January 18, 1993, Duff & Phelps rated the convertible preferred stock issue BBB-' (Triple-B-Minus).
 Conseco is a life insurance holding company based in Carmel, Indiana with assets under management of $13 billion and shareholders' equity of $558 million at Sept. 30, 1992. Over the last several years, Conseco has steadily reduced financial leverage through debt repurchase, equity issuance, and strong earnings growth. Pro-forma fixed obligation ratio was 19 percent at Sept. 30, 1992, down from 66 percent at Sept. 30, 1990. Pro-forma fixed charge coverage was 9.83 times and fixed and preferred charge coverage was 3.60 times for the nine months ended Sept. 30, 1992. These leverage and coverage ratios include only debt and interest for which Conseco is directly liable. The emergence of fee income has contributed to meeting Conseco's debt servicing requirements and allowed the company to keep surplus in its operating subsidiaries.
 -0- 2/9/93
 /CONTACT: Julie A. Burke, CPA, of Duff & Phelps Credit Rating Co., 312-368-3158/
 (CNC)


CO: Conseco, Inc. ST: IN: INS SU: RTG

LR -- NY044 -- 4625 02/09/93 11:33 EST
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Date:Feb 9, 1993
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