UnumProvident Announces Remarketing of $300 Million of Senior Notes Due 2009

Business Wire, Feb 12, 2007

CHATTANOOGA, Tenn. -- UnumProvident Corporation (NYSE: UNM) announced today that it has priced the remarketing of $300 million of the senior notes component of its Adjustable Conversion-Rate Equity Security Units ("ACES") originally issued in May 2004. As a result of the remarketing, the interest rate on the senior notes will be reset to 5.859% percent, effective Feb. 15, 2007. The senior notes were remarketed at a price of 100.289% with a yield to maturity of 5.725%. The remarketing is expected to settle on Feb. 15, 2007.

The senior notes were remarketed under the terms required by the ACES. In connection with the remarketing, UnumProvident will purchase and retire $150 million of the senior notes, leaving $150 million of the senior notes outstanding after completion of the remarketing.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities. Any sale of the notes referred to herein is not sanctioned by this release in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under such a state's securities laws.

About UnumProvident

UnumProvident (www.unumprovident.com) is the largest provider of group and individual income protection insurance, and one of the leading providers of employee benefits products and services, in the United States and the United Kingdom. Through its subsidiaries, UnumProvident insures more than 21 million people and provided $6 billion in total benefits to customers in 2006.

Safe Harbor Statement

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding UnumProvident Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.