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Conseco announces public offering of Capital Trust Pass-Through Securities -- TruPS.

CARMEL, Ind.--(BUSINESS WIRE)--Nov. 22, 1996--Conseco, Inc. (NYSE:CNC) today announced the offering by Conseco Financing Trust II, a subsidiary trust of Conseco, of 325,000 of 8.70% Capital Trust Pass-Through Securities (TruPS) at $1,000 per security. Each TruPS security will pay cumulative cash distributions at the annual rate of 8.70 percent of the stated $1,000 liquidation amount per security, payable semi-annually commencing May 15, 1997. The TruPS are fully and unconditionally guaranteed as to distributions and other payments by Conseco.

Salomon Brothers Inc is the underwriter for the offering.

Proceeds from the offering of approximately $321.3 million (after underwriting and other associated costs) will be used to repay bank debt.

Conseco is a financial services organization headquartered in Carmel, Ind. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities and universal life insurance.

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CONTACT: Conseco, Inc., Carmel

Jim Rosensteele, 317/817-2893

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Publication:Business Wire
Date:Nov 22, 1996
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