40/86 Advisors, Inc. Appoints Timothy L. Powell as Vice President, Director of Private Placements; Former MetLife Private Placement Director Joins Firm to Foster Growth in Private Placement Sector

Business Wire, Oct 4, 2005

CARMEL, Ind. -- 40|86 Advisors, Inc., a leading asset manager specializing in fixed income, announced today the appointment of Timothy L. Powell, 44, as vice president, director of private placements, a newly created position at the firm. Mr. Powell joins the firm with extensive experience in the private placement market, having most recently served as director of Metropolitan Life Insurance Company's Domestic Private Placement Unit. He reports to Eric Johnson, president of 40|86 Advisors and will be responsible for originating, analyzing, structuring and negotiating private placement investments for the firm.

"Tim's expertise and acumen will undoubtedly enhance our business as 40|86 looks to develop the frequency and scope of our private placement transactions," said Johnson. "We are confident that Tim will greatly contribute to the successful growth of a quality private placement business here at the firm and that those transactions will contribute to enhanced portfolio returns."

Mr. Powell has nearly twenty years of private placement experience. Prior to joining 40|86 Advisors he managed a $12 billion portfolio of private placement investments for Metropolitan Life. During his tenure at MetLife, he transacted over $2 billion of new private placement investments. Prior to this, Mr. Powell served as vice president at Lincoln National Life Insurance Company, where he was head of the industrial team and was the sole investment officer on over $1 billion of new private placement investments.

Mr. Powell began his career as a private placement analyst first for Northwestern Mutual Life and received his BA and MBA from Indiana University in 1983 and 1988 respectively. Mr. Powell is a chartered financial analyst (CFA).

About 40|86 Advisors

40|86 Advisors, Inc. is a wholly owned subsidiary of Conseco, Inc. (NYSE:CNO). Located in the Greater Indianapolis area, the firm specializes in fixed income with over $26 billion in assets under management. The firm implements highly disciplined portfolio structuring and bottom-up security analytic processes in order to provide superior value to its clients. Visit 40|86 Advisors at www.4086.com.

NOTE TO EDITORS: In the company name 40|86 Advisors noted in this news release, there is a pipe symbol between 40 and 86. This symbol may not appear properly in some systems.