JOHN SQUAROK NAMED EXECUTIVE VICE PRESIDENT OF BANKERS LIFE AND CASUALTY

CHICAGO (October 14, 2003) - Bankers Life and Casualty Company, Chicago, has named John M. Squarok executive vice president and CFO.

The promotion of John Squarok, previously senior vice president and CFO, was announced in September. "This promotion recognizes both expanded responsibilities and the fact that John has just been a consistently outstanding performer and contributor," said President and CEO Edward M. Berube.

"Bankers has a very ambitious distribution growth strategy on tap for the next few years. It is going to increase the levels of financial management and accountability throughout the organization," said Berube. "I feel very good that we have the right team in place to handle them with John at the helm."

John Squarok has a long history in the financial services industry. He came to Bankers from CNA, Chicago, where he served for two years as corporate controller. Prior to CNA, he served in a series of increasingly responsible financial positions for GE and GE Capital, Stamford, Conn. He was with GE for 24 years.

A native of Massachusetts, John Squarok received a B.A. from Western New England College, Springfield, Mass. in 1974.

"I look forward to this expanded role in Bankers' immediate future. The plans for growth and the aggressive stance the company is taking in the market are very exciting to be part of," Squarok said.

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.

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