BANKERS LIFE AND CASUALTY COMPANY SIGNS AGREEMENT WITH LEGIONNAIRE INSURANCE TRUST

CHICAGO (November 7, 2003) - Bankers Life and Casualty Company has contracted with the Legionnaire Insurance Trust (LIT) to offer long term care (LTCI) and Medicare supplement insurance to members of 46 Departments (State organizations) of The American Legion.

The LIT provides access to over 1.5 million Legion members and their families. Bankers plans a direct mail campaign to promote the programs in all states except New York, South Carolina, Nebraska, Washington and Illinois. Mailings will begin in November 2003.

"We're very excited by the opportunity to offer LTCI and Medicare supplements to veterans," said McGarry P. Murray, vice president of affinity marketing at Bankers. "Every senior should carefully consider his or her need for both these products and we are honored to have the trust of the Legion Departments associated with the LIT to offer these insurance plans to their members."

Wayne Stevens, senior vice president of client relations at Association Group Insurance Administrators (AGIA), the third party administrator that brought the deal to Bankers, said, "This is just a great marriage of organizations. The Legion Departments affiliated with the LIT have long recognized the need to help their members protect themselves from the financial ravages of accident and illness and Bankers is a highly respected leader in that industry."

Established in 1879 and headquartered at the historic Merchandise Mart in downtown Chicago, Bankers Life and Casualty Company focuses exclusively on the financial security needs of seniors. The company offers a broad portfolio of health and life insurance and retirement savings products designed especially for seniors. These products are distributed through a national network of professionally trained company agents. Visit us online at www.bankers.com.

####