Press Release
                                 March 26, 1999


Investor Contact: Conning Corporation		TCW
		  Fred M. Schpero		Josh Pekarsky
                  or Paul Kopsky, Jr.		Kekst and Company
                  (314) 444-0715		(212) 521-4877

Media Contact:    David Garino
                  (314) 982-1700

Internet:  http://www.conning.com and www.tcwgroup.com


For Immediate Release

                      CONNING AND TCW FORM GLOBAL ALLIANCE

           CONNING TO ACQUIRE TCW'S INSURANCE COMPANY HIGH-GRADE FIXED
                           INCOME MANAGEMENT BUSINESS

ST. LOUIS, MO and LOS ANGELES, CA, March 26, 1999 -- Conning Corporation (NASDAQ
NMS:CNNG) and The TCW Group, Inc. (TCW) announced today they have entered into a
definitive  agreement  in which  Conning will acquire  TCW's  insurance  company
high-grade fixed income management business, which represents approximately $2.5
billion  in  discretionary  assets  under  management  and assets  serviced.  In
addition  to  high-grade  fixed  income  portfolio  management,  this  operation
provides a full range of  investment  management  services  unique to  insurance
companies,   including  specialized  accounting,   regulatory  compliance,   and
asset/liability consulting.

Conning and TCW also announced that they have formed a global  alliance in which
each party will actively refer its clients to, or obtain  sub-advisory  services
from, the other party for investment  management  products it does not currently
provide.  Under this global alliance,  Conning may direct its clients to TCW for
certain equity-based asset management services,  including actively-managed U.S.
and international equities, as well as alternative investments and comprehensive
asset allocation  products.  Business  referred to Conning may include insurance
company  high-grade  fixed income asset management and a full array of ancillary
insurance company services for TCW's insurance company clients.

Subject to certain adjustments,  the purchase price for the acquired business is
expected to equal approximately 1.5 times annualized management fees relating to
this business. A portion of the consideration,  up to $3.0 million, will be paid
at closing  with the  remainder,  up to $2.3  million,  over the next two years,
subject to successful  retention of acquired  client  relationships  and meeting
certain  revenue  targets on the  acquired  business.  The  acquisition  will be
treated as an asset  purchase  and is  expected  to be  accretive  to  Conning's
earnings during the first full year of operations.

Leonard M.  Rubenstein,  Conning  Corporation's  Chairman,  President  and Chief
Executive  Officer,  stated,  "We believe this  transaction and relationship are
very positive for Conning.  The  transaction  continues our strategy of creating
scale  efficiencies  by increasing the amount of assets we manage,  and provides
our  organization  with an alliance that could give our clients  access to TCW's
outstanding equity investment products.






Donald L. McDonald, Conning's Executive Vice President - Asset Management, said,
"We are pleased to welcome to Conning Walter Blasberg,  TCW's Managing  Director
of the insurance  asset  management  business.  We know he can make an important
contribution and ensure a seamless transition for TCW clients."

TCW President Marc Stern, said, "This transaction will enable TCW to concentrate
our  full  efforts  on  the  continued  growth  of  our  investment   management
operations,  while also  opening  new areas of  opportunity  through  our global
alliance with Conning.  Outside of the high-grade area we remain fully committed
to serving  insurance  companies,  which today are an important source of assets
for TCW's investment strategies."

Mr. Blasberg  added,  "We have great respect for Conning and believe our clients
will be well served by its  expertise,  commitment  and focus on providing  high
quality, tailored services to the insurance industry."

Conning will integrate TCW's insurance asset management  operations  through its
Hartford  offices.  Conning  will be able to use  its  existing  accounting  and
administrative infrastructure to absorb a significant portion of those functions
currently  being  performed by TCW. The  transaction is expected to close during
the second quarter of this year, subject to customary conditions.

Conning  provides  asset  management  services to insurance  companies,  manages
private equity funds investing in insurance and insurance-related companies, and
conducts in-depth research concerning the insurance industry.

Founded in 1971,  the TCW Group of  companies,  including  Trust  Company of the
West, manages approximately $55 billion in assets for many of the United State's
largest  corporate,  public and union  pension  plans,  charitable  foundations,
endowments and financial institutions. Headquartered in Los Angeles, California,
TCW also maintains  offices in San Francisco,  Houston,  New York, Hong Kong and
London.

The preceding  discussion  of expected  results may  constitute  forward-looking
statements.  Actual  results could differ from  expected  results due to various
factors,  including  whether the revenue  contribution  and  accretion  of TCW's
high-grade fixed income insurance operations have been projected accurately, the
effect  of  recent  volatility  in  securities  markets,   and  the  ability  to
successfully integrate the high-grade fixed income insurance operations of TCW.