<PAGE>
NOT VALID UNLESS SIGNED BY AN ELIGIBLE INSTITUTION.
FBL FINANCIAL GROUP, INC.
NOTICE OF GUARANTEED DELIVERY
OF SHARES OF CLASS A COMMON STOCK
OFFER TO PURCHASE FOR CASH UP TO 1,101,462 SHARES
OF ITS CLASS A COMMON STOCK
AT A PURCHASE PRICE OF $20.00
This form or a facsimile copy of it must be used to accept the offer if:
(a) certificates for Class A common stock, without par value, of FBL Financial
Group, Inc., an Iowa corporation, are not immediately available; or
(b) the procedure for book-entry transfer cannot be completed on a timely basis;
or
(c) time will not permit the letter of transmittal or other required documents
to reach the depositary before the expiration date, as defined in section 1
of the offer to purchase.
This form or a facsimile of it, signed and properly completed, may be
delivered by hand, mail, telegram or facsimile transmission to the depositary by
the expiration date. See "Section 3, Procedure for Tendering Shares" in the
offer to purchase.
DEPOSITARY:
TO: CHASEMELLON SHAREHOLDER SERVICES, L.L.C.
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<S> <C>
BY MAIL: OVERNIGHT DELIVERY:
ChaseMellon Shareholder Services, L.L.C. ChaseMellon Shareholder Services, L.L.C.
Post Office Box 3301 85 Challenger Road
South Hackensack, NJ 07606-1901 Mail Drop-Reorg.
Attn: Reorganization Dept. Ridgefield Park, NJ 07660
</TABLE>
BY HAND
ChaseMellon Shareholder Services, L.L.C.
120 Broadway, 13th Floor
New York, NY 10271 Attn: Reorganization Dept.
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<S> <C>
Confirm Facsimile Transmission
BY FACSIMILE: BY TELEPHONE ONLY:
(201) 296-4293 (201) 296-4860
</TABLE>
DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN THOSE SHOWN ABOVE OR
TRANSMISSION OR INSTRUCTIONS TO A FACSIMILE NUMBER OTHER THAN THOSE LISTED ABOVE
DOES NOT CONSTITUTE A VALID DELIVERY.
<PAGE>
Ladies and Gentlemen:
The undersigned hereby tenders to FBL Financial Group, Inc., at $20.00 per
share, net to the seller in cash, upon the terms and subject to the conditions
set forth in the offer to purchase, dated September 26, 2000, and the related
letter of transmittal, which together constitute the "offer," receipt of which
is hereby acknowledged, _________ shares of Class A common stock, without par
value, pursuant to the guaranteed delivery procedure set forth under
"Section 3, Procedure for Tendering Shares" in the offer to purchase.
PLEASE CALL THE DEALER MANAGER/INFORMATION AGENT FOR ASSISTANCE IN COMPLETING
THIS FORM TOLL FREE AT (877) 298-6520.
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IF YOU OWN FEWER THAN 100 SHARES:
Complete ONLY if shares are being tendered by or on behalf of a person
owning beneficially, as of the close of business on September 15, 2000 and
who continues to own beneficially as of the expiration date, an aggregate of
fewer than 100 shares.
The undersigned either (check one):
[ ] was the beneficial owner(s), as of the close of business on
September 15, 2000 of an aggregate of fewer than 100 shares, all of which
are being tendered, or
[ ] is a broker, dealer, commercial bank, trust company or other nominee
which
(a) is tendering, for the beneficial owner(s) thereof, shares with
respect to which it is the record owner, and
(b) believes, based upon representations made to it by the beneficial
owner(s), that each person was the beneficial owner, as of the close
of business on September 15, 2000, of an aggregate of fewer than 100
shares and is tendering all of the shares.
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<PAGE>
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Certificate Nos. (if available):
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
Name(s):
____________________________________________________________________________
____________________________________________________________________________
(Please Print)
Address(es):
____________________________________________________________________________
____________________________________________________________________________
Zip Code
Area Code and
Telephone Number: __________________________________________________________
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SIGN HERE
____________________________________________________________________________
____________________________________________________________________________
Dated: , 2000
If shares will be tendered by book-entry transfer, check box below:
[ ] The Depository Trust Company
Account Number:
____________________________________________________________________________
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<PAGE>
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GUARANTEE
(NOT TO BE USED FOR SIGNATURE GUARANTEE)
The undersigned, a member firm of a registered national securities exchange,
a member of the National Association of Securities Dealers, Inc., or a
commercial bank, trust company, savings association or credit union having
an office or correspondent in the United States, hereby (i) represents that
the undersigned has a net long position in shares in or equivalent
securities within the meaning of Rule 14e-4 promulgated under the Securities
Exchange Act of 1934, as amended, at least equal to the shares tendered,
(ii) represents that such tender of shares complies with Rule 14e-4 and
(iii) guarantees that either the certificates representing the shares
tendered hereby in proper form for transfer, or timely confirmation of the
book-entry transfer of the shares into the depositary's account at The
Depository Trust Company, pursuant to the procedures set forth under
"Section 3, Procedure for Tendering Shares" in the offer to purchase,
together with a properly completed and duly executed letter of transmittal,
or facsimile thereof, with any required signature guarantee and any other
documents required by the letter of transmittal, will be received by the
depositary at one of its addresses set forth above within the three trading
days after the date of execution hereof.
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<S> <C> <C>
Name of Firm:
Authorized Signature
Address:
Zip Code:
Area Code and
Telephone Number: Dated: , 2000
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DO NOT SEND SHARE CERTIFICATES WITH THIS NOTICE. SHARE CERTIFICATES SHOULD
BE SENT WITH YOUR LETTER OF TRANSMITTAL.
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