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Non-Tech : Conseco Insurance (CNO)

CNO 40.02

+0.3%

Oct 31 9:30 AM EST

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To: Softechie who wrote (4091)	10/24/2001 9:35:08 PM
From: BWAC	of 4155

Heres the full story: Wednesday October 24, 4:59 pm Eastern Time Press Release SOURCE: Conseco, Inc. Conseco Third Quarter Operating Earnings to be 18 Cents Per Share INDIANAPOLIS--(BUSINESS WIRE)--Oct. 24, 2001--Various public comments about Conseco, Inc. (NYSE:CNC - news) have generated questions from investors in the last few days. The following statement from Conseco Chairman & CEO Gary Wendt should answer many of those questions. ``Many investors have let uncertainty creep into their thinking about Conseco. These concerns are misplaced. Unlike troubled companies, we are generating positive cash flow and growing earnings. We are a company whose two operating segments are generating over $700 million of cash flow before interest and dividends this year. And we project they will produce more next year - even in this economy. We have nearly completed the closing process for the 3rd quarter, and we are far enough along that it is clear that operating earnings will be approximately 18 cents per share, 50% higher than the same period last year. On another question, comments about "solvency issues" have spooked people into believing that we will have a liquidity problem in 2002. Here's the answer to that question: We have excellent and predictable cash flow and multiple sources of additional cash if necessary. We expect no problem meeting our debt obligations in 2002 and beyond. We look forward to discussing these and other issues with you next week on our quarterly conference call.`` Conseco will release third quarter earnings before the market opens on October 30. The quarterly conference call will occur at 1:30 pm (ET) on Tuesday, October 30. Details about the call are available on the www.Conseco.com web site.

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