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Non-Tech : Conseco Insurance (CNO)
CNO 40.02+0.3%Oct 31 9:30 AM EDT
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To: Tunica Albuginea who wrote (2421)8/17/2000 9:31:34 AM
From: BWAC  Read Replies (1) of 4155
 
TA,

Wendt and CNC speak:

----------------------------------------------

CARMEL, Ind., Aug 17, 2000 (BUSINESS WIRE) -- Conseco, Inc. (NYSE:CNC) today
issued the following statement: "We believe that short sellers and other persons
have been disseminating misleading information about Conseco's upcoming debt
maturation. We refer investors to pages 7 and 46 of our Quarterly Report on Form
10-Q for the quarter ended June 30, 2000, (filed last Monday) in which we
indicated that:

-- Conseco is currently in discussions with its bank lenders with
respect to extension of its debt maturities. Although no
agreement has been reached, management is optimistic that
appropriate extensions can be negotiated.

-- Conseco has embarked on several courses of action with respect
to its Conseco Finance Corp. subsidiary (including asset
dispositions and restructuring of ongoing businesses), as well
as an asset disposition program with respect to certain
non-strategic assets at the parent company level. These
initiatives are designed to allow Conseco to reduce parent
company debt over time. Conseco believes that the sale of
non-strategic assets and the actions contemplated at Conseco
Finance will generate cash proceeds of approximately $2.0
billion over the next 12 to 15 months.

"Please refer to the 10-Q for additional information."
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