Topic: North American Life Insurance – Perspectives on the Industry’s
           Key Credit Fundamentals

The competitive spirit in the life insurance industry is alive and well, and has clearly influenced the risk profile of industry players. In addition to Fitch’s outlook for the industry, the presentation will include a discussion of recent rating activity and key drivers of this activity. Among the topics for discussion are: intense competitive pressures and product portfolio migration, product “Bells & Whistles” and associated risks, earnings trends and capital growth, investment risk, and Fitch’s comprehensive review of all life insurance company ratings..

Speaker: Julie A. Burke, Managing Director of Fitch Ratings’ North American Insurance Rating Group

Date:  Wednesday, October 23, 2002  3:30 Registration  /   4:00 Speakers /  5:00 Hors d’oeuvres

Location: CNA Insurance Companies,  Conference Center — 2nd Floor, Room 210 North
           Southeast corner of Jackson and Wabash, Chicago, IL 60606