Press Releases

Indianapolis, Ind.: January 14, 2004 – Despite one of the worst bear markets since the Depression, index annuities have performed competitively when compared to other investment vehicles, including stock mutual funds, variable annuity equity subaccounts, index funds and certificates of deposits. These results were recently reported in a survey performed by Jack Marrion of The Advantage Group.

The survey “Five Year Index Annuity Returns Very Respectable in a Disrespectable Time?? compared the total return of index annuities with other investment vehicles over the five years ended September 30, 2003. Conseco’s American Eagle Series I equity-indexed annuity ranked third among 13 carriers surveyed, with a total average return of 41.6% over the five-year period.

According to the survey, the average index annuity return was 30.4%, compared to returns ranging from 5% for index funds to 27.6% for bond funds. “Although the 30.4% 5-year total return for the average index annuity was excellent, certain carriers did much better,?? said Marrion.

Conseco’s American Eagle Series I equity-indexed annuity is designed to protect the contract value during market downturns and provide growth opportunities during market upturns. Conseco’s Shawn Ardizone, assistant vice president, annuity product management, commented, “I am thrilled, not only for our policyowners, but for the industry as well. Our product performed just like it was designed to do.?? More information about Conseco’s annuity products can be found at the company’s website, www.conseco.com.

The Conseco insurance companies serve nearly 5 million customers across America. Conseco’s annuities and life insurance products help people plan for their financial future; Conseco’s cancer, heart/stroke, accident and Medicare supplement policies protect people against major unplanned expenses.