Securities Lawsuit Filed for Purchasers of Conseco Securities

April 26, 2000

A class actions suit has been filed in the U.S. District Court for the southern district of Indiana on behalf of all purchasers of the 8.7 percent Trust Originated Preferred Securities publicly traded securities of Conseco Inc. and Conseco Financial Trust V. The complaint charges Conseco and some of its officers, directors and company insiders with violations of the Securities Exchange Act of 1933.

This action involves defendants’ dissemination of materially false and misleading statements concerning, among other things, artificially inflated financial results for the Green Tree finance segment of Conseco, and Conseco’s use of “gain-on-sale” accounting.

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