Exhibit 99
FOR IMMEDIATE RELEASE

Contact:  Mary Beth Schwartz  651-293-4891
          mary_beth_schwartz@consecofinance.com

                  CONSECO FINANCE TO SEEK NEW BUSINESS PARTNERS

ST. PAUL, October 22, 2002 - Conseco Finance Corp. today announced that the
board of directors of its parent, Conseco, Inc. (OTC: CNCE.OB), has approved a
plan to seek new investors for Conseco Finance Corp.'s businesses. The company
has engaged the investment banking firm of Lazard Freres LLC, assisted by Credit
Suisse First Boston, to pursue various alternatives, including securing new
investors and/or selling the company's three business units: manufactured
housing finance, mortgage services and consumer finance.

"We believe our businesses will be attractive to investors who have the access
to capital necessary to grow the operations," said Chuck Cremens, President &
CEO of Conseco Finance Corp. "The initiative to seek new investors is intended
to provide the opportunity to continue the growth of our businesses, which serve
millions of American families and employ nearly 7,000 dedicated individuals
nationwide," Cremens said.

Conseco Finance Corp., with managed assets of $40 billion, is one of America's
largest finance companies and a leader in home equity, home improvement,
manufactured housing and private label credit card businesses. The company,
headquartered in St. Paul, Minn., is a subsidiary of Indianapolis, Ind.-based
Conseco, Inc.

Forward Looking Statements

All statements, trend analyses and other information contained in this report
and elsewhere (such as in filings by the Company with the Securities and
Exchange Commission, press releases, presentations by the Company or its
management or oral statements) relative to markets for the Company's products
and trends in the Company's operations or financial results, as well as other
statements including words such as "anticipate," "believe," "plan," "estimate,"
"expect," "projected," "intend," "may," "will," "would," "contemplate,"
"possible," "attempts," "seeks," "should," "could," "goal," "target," "on
track," "comfortable with," "optimistic," and other similar expressions,



constitute forward-looking statements under the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors which may cause actual results,
performance or achievements to be materially different from the future results,
performance or achievements expressed or implied by the forward-looking
statements. Assumptions and other important factors that could cause our actual
results to differ materially from those anticipated in our forward-looking
statement include, among other things: (i) general economic conditions and other
factors, including prevailing interest rate levels, stock and credit market
performance, which may affect (among other things) the Company's ability to sell
its products, its ability to make loans and access capital resources and the
costs associated therewith, the market value of the Company's investments and
the level of defaults and prepayments of loans made by the Company; (ii) the
Company's ability to achieve anticipated synergies and levels of operational
efficiencies, including from our process excellence initiatives; (iii) customer
response to new products, distribution channels and marketing initiatives; (iv)
performance of our investments; (v) changes in the Federal income tax laws and
regulations which may affect the relative tax advantages of some of the
Company's products; (vi) increasing competition in the finance business
including the impact of recent downgrades; (vii) regulatory changes or actions,
including those relating to regulation of financial services; (viii) the outcome
of the Company's efforts to sell assets and reduce, refinance or modify
indebtedness and the availability and cost of capital in connection with this
process; (ix) actions by rating agencies and the effects of past or future
actions by these agencies on the Company's business including the impact of
recent downgrades; (x) the ultimate outcome of lawsuits filed against the
Company; (xi) the outcome and timing of the restructuring of the indebtedness of
Conseco; and (xii) the risk factors or uncertainties listed from time to time in
the filings of the Company or its parent, Conseco, with the Securities and
Exchange Commission. Other factors and assumptions not identified above are also
relevant to the forward-looking statements, and if they prove incorrect, could
also cause actual results to differ materially from those projected.

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