For Release     Immediate

Contacts        (News Media) Mark Lubbers, EVP, External Relations 317.817.4418
                (Investors) Tammy Hill, SVP, Investor Relations 317.817.2893





                               Conseco issues memo

     Indianapolis, Ind.: April 4, 2001 - The attached memo from Conseco EVP of
External Relations, Mark Lubbers, was posted on Conseco's web site for
shareholders and/or electronically distributed to them today.

                                     -more-









To:      Interested Parties

From:    Mark Lubbers, Executive Vice President

Date:    April 4, 2001

We're not sure that the misleading shots taken at Conseco in a couple of recent
media articles are even worth a response, but we thought you would be interested
in the following:

1.   The articles incorrectly implied that credit standards have been lowered
     since Gary Wendt joined the company. Recall that one of Gary Wendt's first
     acts as Conseco CEO was to restructure Conseco Finance, resulting in a
     planned 50% reduction in new loan originations. In such a scenario and at a
     time when other industry participants are exiting the market, why would a
     man with 25 years of successful experience in the lending industry lower
     credit standards?

2.   As to the greater percentage of repos being included in the
     securitizations, this is not new news. Repos are up for the entire industry
     and we think the fact that the securitization market accepts them is a huge
     positive for our delinquency management strategy.

3.   During the first quarter of 2001, we repossessed 12% fewer units than
     during the fourth quarter of 2000, consistent with the plan we disclosed
     earlier. Also, 60 day+ delinquencies in our manufactured housing business
     decreased from 2.20% at December 31, 2000 to 1.96% at March 31, 2001 and 30
     day delinquencies decreased from 1.73% to 1.12% over the same period.

If you are interested in further information, I wrote a detailed letter to the
Forbes associate editor, which you can access on our web site (www.conseco.com).

Note on forward-looking statements: All statements, trend analyses and other
information contained in this release and elsewhere (such as in filings by
Conseco with the Securities and Exchange Commission, press releases,
presentations by Conseco or its management or oral statements) relative to
markets for Conseco's products and trends in Conseco's operations or financial
results, as well as other statements including words such as "anticipate,"
"believe," "plan," "estimate," "expect," "intend," "should," "could," "goal,"
"target," "on track," "comfortable with," "optimistic" 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: (1)
general economic conditions and other factors, including prevailing interest
rate levels, stock and credit market performance and health care inflation,
which may affect (among other things) Conseco's ability to sell its products,
its ability to make loans and access capital resources and the costs associated
therewith, the market value of Conseco's investments, the lapse rate and
profitability of policies, and the level of defaults and prepayments of loans
made by Conseco; (2) Conseco's ability to achieve anticipated synergies and
levels of operational efficiencies; (3) customer response to new products,
distribution channels and marketing initiatives; (4) mortality, morbidity, usage
of health care services and other factors which may affect the profitability of
Conseco's insurance products; (5) performance of our investments; (6) changes in
the Federal income tax laws and regulations which may affect the relative tax
advantages of some of Conseco's products; (7) increasing competition in the sale
of insurance and annuities and in the finance business; (8) 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 products, and
health care regulation affecting health insurance products; (9) the outcome of
Conseco's efforts to sell assets and reduce, refinance or modify indebtedness
and the availability and cost of capital in connection with this process; (10)
actions by rating agencies and the effects of past or future actions by these
agencies on Conseco's business; and (11) the risk factors or uncertainties
listed from time to time in Conseco's filings with the Securities and Exchange
Commission.


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