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To: UncleverName who wrote (15103)7/29/2000 10:43:37 AM
From: Mr. Adrenaline  Read Replies (1) | Respond to of 29986
 
Pull out yesterday's WSJ, page C11 is a half page ad...

scanned image of same:

streetmonkey.com

along with a write up by what looks like a very sophomoric ezine:

streetmonkey.com

Mr A



To: UncleverName who wrote (15103)7/29/2000 10:51:36 AM
From: UncleverName  Read Replies (2) | Respond to of 29986
 
WSJ, July 28, 2000… page C11… The following is an ad. There may be some errors in my typing… ah well… enjoy!

Fellow CONSECO Shareholders

It was reported that as of July 15, 2000 there are over 63 million shares in short positions in CONSECO’S stock. “Short sellers” are those who already have sold CONSECO shares and who will profit if the price of CONSECO’S stock goes down. I for one have been appalled by the barrage of disparaging rumors and dire predictions of doom that have circulated about CONSECO. I believe it is no mystery as to where the misleading negative rumors have come from, the short sellers.

Prior to his coming to CONSECO, disparagers stated that Gary Wendt would not take the position of CEO at CONSECO because he knew CONSECO couldn’t be saved. Now that Gary is indeed the CEO of CONSECO they say even he cannot make the difference. I believe with the hiring of Gary Wendt as CONSECO’S Chairman and CEO, there is in my opinion a greater potential for the future of CONSECO than in any other time in CONSECO’S history given the time and support. We, as CONSECO shareholders, can play an important part in increasing the value of our CONSECO shares. First of all, effective immediately, you as shareholders should not allow any of your CONSECO stock to be loaned out to the short sellers through the brokerage houses that are holding your CONSECO stock certificates. I believe that the short sellers will be under extreme pressure to buy in shares to cover their positions and would be discouraged from further short selling.

As a fellow CONSECO shareholder, I believe it will be in our best interest to potentially stop the short sellers from continuing their sales and exerting downward pressure on CONSECO’S stock price, by doing the following. I suggest that you consider doing as I have done and notify the brokerage house where you have your CONSECO shares and insist in writing today, that none of your CONSECO shares be loaned out to any CONSECO short sellers. If your brokerage house has loaned out your CONSECO stock, then I suggest you insist that they call it in immediately, even if you CONSECO shares are in a margin account. If you present brokerage house rejects your request, than [sic] I suggest you move your CONSECO shares to another brokerage house that agrees to comply with your directions. All brokerage houses that presently hold my CONSECO shares, in both margin and cash accounts, have agreed to honor my request not to loan out any of my CONSECO stock to anyone effective immediately.

One again with over 63 million CONSECO shares short, CONSECO shareholders have the opportunity to play an important role in determining the future of the CONSECO stock price. There are approximately 325 million shares of CONSECO shares outstanding. About 20%, or 72 million, shares are controlled and owned by insiders. As of the last report available of institutional and large individual holders, including my CONSECO share holdings, there were approximately 145 million shares of CONSECO stock owned by fewer than 30 individuals and institutions. That would leave approximately 108 million shares owned among the balance of individuals and non-reporting institutions. It could potentially become very expensive for the short sellers to buy-in CONSECO stock given the present situation if we, as CONSECO shareholders, do as I suggest in this communication.

Let’s do what we can to put the future of the CONSECO share price back into the hands of the CONSECO shareholders who want to see the price of our stock go up rather than in the hands of the CONSECO short sellers who profit by the decline in our CONSECO shares.

Irwin L. Jacobs,
CONSECO shareholder

This ad was entirely paid for by Irwin L. Jacobs, a concerned CONSECO shareholder.