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CARMEL, Ind., Sept. 16 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE: CNO) held securities of Lehman Brothers, American International Group and Washington Mutual totaling approximately $103 million (amortized cost basis) as of September 16, 2008, as summarized below (dollars in millions):
Lehman Washington
Brothers AIG Mutual
Senior debt of holding company $4.6 $ 9.9 $23.6
Subordinated debt of holding
company 2.9 - -
GICs issued by subsidiary of
holding company - 19.3 -
Derivatives issued by subsidiary
of holding company
(at market value) 4.3 - -
Other debt 7.5 (a) 20.7 (b) 10.4 (c)
TOTAL $19.3 $49.9 $34.0
(a) Broker/Dealer subsidiary that did not file for protection under
Chapter 11
(b) American General Finance Corp. Senior Notes
(c) Washington Mutual Bank Subordinated Notes
Such combined holdings were approximately $166 million at June 30, 2008. During the third quarter of 2008, through September 16, 2008, the Company has recognized losses of approximately $40 million on sales of securities of these issuers.
Conseco, Inc.'s insurance companies help protect working American families and seniors from financial adversity: Medicare supplement, long-term care, cancer, heart/stroke and accident policies protect people against major unplanned expenses; annuities and life insurance products help people plan for their financial futures. For more information, visit Conseco's web site at http://www.conseco.com/.
SOURCE: Conseco, Inc.
CONTACT: Media, Tony Zehnder, Corporate Communications, +1-312-396-7086,
Investors, Scott Galovic, Investor Relations, +1-317-817-3228, both of
Conseco, Inc.
Web site: http://www.conseco.com/