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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: AgAuUSA who wrote (517)	12/12/1997 2:23:00 PM
From: Ken Sammut	Respond to of 4155

CARMEL, Ind.--(BUSINESS WIRE)--Dec. 12, 1997--Conseco, Inc. said today that it is comfortable with the consensus analyst estimate (according to First Call) of operating earnings per fully diluted share of $3.39 in 1998 and instituted a new program to repurchase up to 5 million of its common shares. Conseco also reiterated that it remains comfortable with the First Call consensus analyst estimate of operating earnings per fully diluted share of $2.72 in 1997. Conseco Chairman Stephen C. Hilbert said, "We believe that Conseco's stock is undervalued and that purchases by the company at these levels will benefit our long-term shareholders. As we've stated, we believe that Conseco today is financially stronger, more diversified in its earnings sources (which should mean greater earnings stability and predictability), and better positioned to benefit from the growth of several of the industry's most attractive markets, than at any time in its history." In the buyback program, shares may be purchased in open-market or negotiated transactions, with the timing and terms of the purchases to be determined by management based on market conditions. Conseco is a financial services organization headquartered in Carmel, Ind. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities and universal life insurance. Note on forward-looking statements: All statements, trend analyses and other information contained in this report and elsewhere (such as in other filings by the Company with the Securities and Exchange Commission, press releases, presentations by the Company or its management or oral statements) relative to markets for the Company's products and trends in the company's operations or financial results, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include, among other things: (i) general economic conditions and other factors, including prevailing interest rate levels, stock market performance and health care inflation, which may affect the ability of the Company to sell its products, the market value of the Company's investments and the lapse rate and profitability of the Company's policies; (ii) the Company's ability to achieve anticipated levels of operational efficiencies at recently acquired companies, as well as through other cost-saving initiatives; (iii) customer response to new products, distribution channels and marketing initiatives; (iv) mortality, morbidity, usage of health care services and other factors which may affect the profitability of the Company's insurance products; (v) changes in the federal income tax laws and regulations which may affect the relative tax advantages of some of the Company's products; (vi) increasing competition in the sale of the Company's products; (vii) regulatory changes or actions, including those relating to regulation of financial services affecting (among other things) bank sales and underwriting of insurance products, regulation of the sale, underwriting and pricing of insurance products, and health care regulation affecting the Company's health insurance products; (viii) the availability and terms of future acquisitions; and (ix) the risk factors or uncertainties listed from time to time in the Company's other filings with the Securities and Exchange Commission. CONTACT: Conseco, Inc. Jim Rosensteele, 317/817-2893 KEYWORD: INDIANA BW0034 DEC 12,1997