Conseco Reports Preliminary Fourth Quarter and Year-E...(ts of valuation allowance for deferred t...),Health

assets)

-- EBIT (2): $(6.3) million

-- Sales (3): $415.5 million

Preliminary financial strength at December 31, 2007:

-- Book value per diluted share, excluding accumulated other comprehensive

income (loss) (4), was $24.28

-- Debt-to-total capital ratio, excluding accumulated other comprehensive

income (loss) (4), was 21.0%

The Company currently estimates that adjustments to reflect the SEC staff's view may have the effect of reducing the preliminary loss reported above for the fourth quarter of 2007 by up to $5 million (or 3 cents per share) and reducing the preliminary loss for the year ended December 31, 2007 by up to $15 million (or 9 cents per share). The Company is working diligently to complete its financial statements and Form 10-K for the year ended December 31, 2007, as soon as possible (expected to be no later than March 28, 2008).

As announced in the Company's February 25, 2008 press release, due to the significance of errors identified in completing the December 31, 2007 financial statements (the majority of which were identified during the procedures performed in an effort to remediate the material weakness in internal controls disclosed in its 2006 Form 10-K and subsequent quarterly filings with the SEC), Conseco will restate its financial statements for the years ended December 31, 2006 and 2005, along with affected selected financial data for 2004 and 2003 and the first three quarters of 2007. Therefore, the previously issued financial statements of the Company for those periods should no longer be relied upon.

Preliminary operating results

Results by segment for the quarter and year were as follows

($ in millions, except per share data):

Three Months Ended Year Ended

December 31, December 31,

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