Exhibit 99.3

NEWS

For Release     Immediate


Contacts        (News Media) Tony Zehnder, Corporate Communications 317.817.4418
                (Investors) Scott Galovic, Investor Relations 317.817.3228



             Conseco Declines Partnership's Request for Board Seats;
                    Review of Strategic Alternatives Underway

Carmel, Ind., March 17, 2008: Conseco Inc. (NYSE: CNO) today announced that it
is declining a request from Steel Partners II, L.P. to nominate two of its
representatives to Conseco's board of directors. Conseco also announced that it
has been reviewing strategic alternatives and has engaged the investment banking
firm of Morgan Stanley as its strategic advisor.

Conseco CEO Jim Prieur said, "We share with Steel Partners, as well as our other
shareholders, a common interest in taking actions that will increase the value
of the company for shareholders. In that regard, we have been working with a
major investment bank for several months regarding strategic alternatives and
plans to maximize shareholder value for Conseco. We believe, and hope Steel
Partners would concur, that we already are exploring courses of action suggested
by them."

Steel Partners President Jack L. Howard asked Conseco on March 14 to nominate
himself and Chief Executive Warren G. Lichtenstein to the board of directors.
Steel Partners said their intention was to work with the company to engage an
investment bank to assist Conseco in exploring alternatives to maximize
shareholder value.

Conseco, Inc.'s insurance companies help protect working American families and
seniors from financial adversity: Medicare supplement, long-term care, cancer,
heart/stroke and accident policies protect people against major unplanned
expenses; annuities and life insurance products help people plan for their
financial futures. For more information, visit Conseco's web site at
www.conseco.com.

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