CNO Financial Group, Inc. Announces Second Quarter Share Repurchases and Principal Prepayment under Senior Secured Credit Agreement

CARMEL, Ind., June 30, 2011 /PRNewswire/ –CNO Financial Group, Inc. (NYSE: CNO)
today announced that during the second quarter of 2011 it repurchased 2,206,648
shares of its common stock for an aggregate purchase price of $16.2 million
under the share repurchase program announced on May 16, 2011. The shares were
repurchased at an average cost of $7.35 per share, and represented 0.9% of the
total outstanding shares as of March 31, 2011.

As required under the terms of its Senior Secured Credit Agreement, CNO also
made a principal prepayment today of the same amount as the share repurchase
($16.2 million). This prepayment will reduce the scheduled principal amount that
is due on September 30, 2016. After this prepayment, the outstanding principal
balance of the facility is $308.8 million and the next scheduled principal
payment under the facility of $10.0 million is due September 30, 2012.

The proforma debt to total capital ratio (as defined in our Senior Secured
Credit Agreement) at March 31, 2011 reduced to 19.0% from 19.2% as a result of
the aforementioned transactions.

About CNO

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.