CNO Financial Group Announces Financial Settlement of Regulatory Matter

CARMEL, Ind., June 30 /PRNewswire-FirstCall/ — CNO Financial Group, Inc. (NYSE:
CNO) announced today that its wholly owned subsidiary, Conseco Life Insurance
Company, finalized a multi-state settlement agreement that requires the
establishment of a $10 million fund for certain owners of its Lifetrend life
insurance products and payment of a $1 million assessment to participating
jurisdictions. As of today, 37 jurisdictions have signed the agreement.

As previously disclosed, CNO accrued for the financial impact of the settlement
in its consolidated financial statements for year-end 2009. Therefore, the
finalization of this multi-state settlement agreement will not result in an
additional charge to the Company’s second quarter 2010 consolidated results of
operations.

CNO is a holding company. Our insurance subsidiaries — principally Bankers Life
and Casualty Company, Colonial Penn Life Insurance Company and Washington
National Insurance Company — serve working American families and seniors by
helping them protect against financial adversity and provide for a more secure
retirement. For more information, visit CNO online at www.CNOinc.com.

SOURCE CNO Financial Group, Inc.