Results of Conseco Finance Tender Announced

04/15/02, Indianapolis, IN -- Conseco, Inc. (NYSE:CNC) announced today the results of the tender offer of its subsidiary, Conseco Finance, for all the outstanding ($166.7 million) Conseco Finance 6.5% notes due September 26, 2002, and all the outstanding ($3.65 million) Conseco Finance 6.52% notes due April 7, 2003. The tender offer for this debt was announced on February 21. The offer expired on Friday, April 12.

An aggregate of $158,554,000 of the 6.5% Conseco Finance notes due September 26, 2002, and $3,650,000 of the 6.52% notes due April 7, 2003 were tendered in response to the offer. The purchase price will be paid April 16 and is equal to 100% of the principal amount of the notes tendered, plus accrued interest.

After the execution of the tender offer, the outstanding public debt of Conseco Finance will be $43.0 million ($34.8 million of 10¼% senior subordinated notes due June 1, 2002 and $8.2 million of 6.5% notes due September 26, 2002).