CNO 80%

http://cms.ibj.com/ASPXPages/6iframes/FrontEndArticlesDetailPage.aspx?ArticleID=33499&NoFrame=1

JK,

Thanks a bundle. I’m thinking the same thing.

Glen

From: J.K. Wall [mailto:jwa Sent: Tuesday, March 17, 2009 2:12 PM To: Bradford, Glen Richard Subject: RE: Conseco

Glen,

I'm no expert, but I give Conseco 80 percent odds that it avoids bankruptcy. I don't see how it would make sense for anyone involved, including the senior lenders. It seems the company will do more reinsurance deals first (limiting profits but boosting capital) before the brass let the company go bankrupt.

For what that's worth.

J.K.

-----Original Message----- From: Bradford, Glen Richard [mailto:gbrad Sent: Sat 3/14/2009 2:09 PM To: J.K. Wall Subject: Conseco

Hey JK,

If you had to put a probability on it, what do you think the probability is that Conseco equity shareholders will make it through because the company is able to write off less discontinued operating losses in 2009 and pay off the debt obligations to Bank of America? 50/50?

Glen Bradford

Purdue University

Masters in Business Administration

Bachelors in Industrial Engineering

School of Engineering Student Ambassador

www.glenbradford.com