CNO Financial Group Announces Fourth Quarter 2012 Capital Actions

      CNO Financial Group Announces Fourth Quarter 2012 Capital Actions

Share Repurchases of $80.7 million

Dividend Payment of $4.5 million

Principal payments of $30.4 million under Senior Secured Credit Agreement

PR Newswire

CARMEL, Ind., Dec. 31, 2012

CARMEL,Ind., Dec. 31, 2012 /PRNewswire/ --CNO Financial Group, Inc. (NYSE:
CNO) today announced that during the fourth quarter of 2012 it repurchased
8,639,215 shares of its common stock for an aggregate purchase price of $80.7
million under its securities repurchase program. The shares were repurchased
at an average cost of $9.34 per share and represented 3.8% of the total
outstanding shares as of September 30, 2012. Total shares repurchased under
the program year-to-date total 21,533,393 shares for an aggregate purchase
price of $180.2 million, at an average cost of $8.37 per share. As of
September 30, 2012, CNO had approximately 230 million shares outstanding. The
company currently has repurchase capacity under its securities buyback program
of approximately $350 million. The repurchase program is intended to be
implemented through purchases made from time to time in the open market,
through private transactions or by a tender offer, in accordance with
Securities and Exchange Commission requirements. The amount and timing of the
securities repurchases (if any) will be based on business and market
conditions and other factors.

CNO made a principal prepayment today of $28.4 million in an amount equal to
33% of share repurchases and dividend payments, as required under the terms of
its Senior Secured Credit Agreement. The company made an additional payment
of $2.0 million to cover the remaining portion of the scheduled term loan
installment. The next scheduled principal payment under the facility of $12.5
million is due March 31, 2013.

About CNO

CNO is a holding company. Our insurance subsidiaries – principally Bankers
Life and Casualty Company, Washington National Insurance Company and Colonial
Penn Life 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.

Website: http://www.CNOinc.com
Contact: (News Media) Tony Zehnder, +1-312-396-7086; (Investors) Erik Helding,
+1-317-817-4760
 
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