CONSECO VARIABLE ANNUITY ACCOUNT C
485BPOS, EX-99.B13, 2000-12-29
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                                                                        Exh. 13


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                    20 Focus
                          INDIVIDUAL & GROUP PROSPECTUS
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum      09/30/2000      Accum      Charge
   Qtr       Value     For $1,000     Fee         (0.47)       Admin Fee        Units      Unit Value      Value       Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>           <C>             <C>          <C>         <C>           <C>
   1999      1.000000     1,000.000   1998        1.000000      (0.470)         999.530      1.338025    1,337.40      7%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of      Surrender      For Surr         Admin        Admin Fee           n
   Qtr         Charge         Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>            <C>              <C>         <C>               <C>
   1999         (93.62)        1,243.78         (0.47)      1,243.31          24.39%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum      09/30/2000      Accum      Charge
   Qtr       Value     For $1,000     Fee          0.00        Admin Fee        Units      Unit Value      Value       Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>           <C>             <C>          <C>         <C>           <C>
   1999      1.000000     1,000.000   1998        1.000000      0.000           1,000.000    1.338025    1,338.03

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of      Surrender      For Surr         Admin        Admin Fee           n
   Qtr         Charge         Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>            <C>              <C>         <C>               <C>         <C>
   1999                        1,338.03         0.00        1,338.03          33.80%      1 YR

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                    20 Focus
                          INDIVIDUAL & GROUP PROSPECTUS
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum      09/30/2000      Accum      Charge
   Qtr       Value     For $1,000     Fee         (0.60)       Admin Fee        Units      Unit Value      Value       Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>           <C>             <C>          <C>         <C>           <C>
   1999      1.000000     1,000.000   1999        1.000000      (0.600)         999.400      1.338025    1,337.22      90% * 8%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of      Surrender      For Surr         Admin        Admin Fee           n
   Qtr         Charge         Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>            <C>              <C>         <C>               <C>
   1999         (96.28)        1,240.94        (0.60)       1,240.34          24.11%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum      09/30/2000      Accum      Charge
   Qtr       Value     For $1,000     Fee          0.00        Admin Fee        Units      Unit Value      Value       Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>           <C>             <C>          <C>         <C>           <C>
   1999      1.000000     1,000.000   1999        1.000000      0.000           1,000.000    1.338025    1,338.03

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of      Surrender      For Surr         Admin        Admin Fee           n
   Qtr         Charge         Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>            <C>              <C>         <C>               <C>         <C>
   1999                        1,338.03         0.00        1,338.03          33.80%      1 YR

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                    20 Focus
                          INDIVIDUAL & GROUP PROSPECTUS
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum      09/30/2000      Accum      Charge
   Qtr       Value     For $1,000     Fee         (0.37)       Admin Fee        Units      Unit Value      Value       Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>           <C>             <C>          <C>         <C>           <C>
   1999      1.000000     1,000.000   1999        1.000000      (0.370)         999.630      1.338025    1,337.53      90% * 5%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of      Surrender      For Surr         Admin        Admin Fee           n
   Qtr         Charge         Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>            <C>              <C>         <C>               <C>
   1999        (60.19)         1,277.34         (0.37)      1,276.97          27.74%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum      09/30/2000      Accum      Charge
   Qtr       Value     For $1,000     Fee          0.00        Admin Fee        Units      Unit Value      Value       Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>           <C>             <C>          <C>         <C>           <C>
1999         1.000000     1,000.000   1999        1.000000      0.000           1,000.000    1.338025    1,338.03

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of      Surrender      For Surr         Admin        Admin Fee           n
   Qtr         Charge         Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>            <C>              <C>         <C>               <C>        <C>
   1999                        1,338.03         0.00        1,338.03          33.80%     1 YR

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                   High Yield
                          INDIVIDUAL & GROUP PROSPECTUS
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.47)    Admin Fee        Units     Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>              <C>         <C>          <C>            <C>           <C>
   1999      1.000000     1,000.000   1998        1.000000         (0.470)     999.530      1.011943       1,011.47      7%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)        P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>            <C>            <C>             <C>           <C>              <C>
   1999        (70.80)        940.67         (0.47)        940.20           -5.94%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units     Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>              <C>         <C>          <C>            <C>        <C>
   1999      1.000000     1,000.000   1998        1.000000         0.000       1,000.000    1.011943       1,011.94

<CAPTION>
----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>          <C>             <C>                <C>        <C>                <C>        <C>
   1999                      1,011.94           0.00       1,011.94           1.19%      1 YR

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                   High Yield
                          INDIVIDUAL & GROUP PROSPECTUS
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.60)    Admin Fee        Units     Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>           <C>             <C>         <C>          <C>         <C>          <C>
   1999      1.000000     1,000.000   1999          1.000000        (0.600)     999.400      1.011943    1,011.34     90% * 8%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>              <C>            <C>           <C>            <C>
   1999         (72.82)          938.52         (0.60)        937.92         -6.15%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units     Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>              <C>         <C>          <C>           <C>         <C>
   1999      1.000000     1,000.000   1999        1.000000         0.000       1,000.000    1.011943      1,011.94

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>             <C>           <C>                <C>        <C>               <C>        <C>
   1999                       1,011.94           0.00       1,011.94          1.19%      1 YR

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                   High Yield
                          INDIVIDUAL & GROUP PROSPECTUS
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>

GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.37)    Admin Fee        Units     Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>              <C>          <C>         <C>           <C>        <C>
   1999      1.000000     1,000.000   1999        1.000000         (0.370)      999.630     1.011943      1,011.57   90% * 5%

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>             <C>              <C>             <C>           <C>           <C>
   1999         (45.52)          966.05          (0.37)        965.68        -3.40%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units     Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>              <C>        <C>            <C>         <C>          <C>
   1999      1.000000     1,000.000   1999        1.000000         0.000      1,000.000      1.011943    1,011.94

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>           <C>             <C>                <C>        <C>               <C>        <C>
   1999                       1,011.94           0.00       1,011.94          1.19%      1 YR

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  BALANCED FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                             Accum                 For          Units
                             Units     Year of    Annual      (Deducted)   Total                      Total    Surrender
   End of      Unit        Purchased    Admin   Admin Fee     For Annual   Accum       09/30/00       Accum      Charge   Surrender
     Qtr       Value      For $1,000     Fee         (0.47)   Admin Fee    Units       Unit Value     Value       Calc     Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>         <C>     <C>             <C>        <C>         <C>           <C>       <C>         <C>
    1999        2.381370       419.926   1998      2.38137       (0.197)    419.729     3.48078849    1,460.99     7%       (102.27)
    1998        1.978670       505.390   1997      1.97867       (0.238)    504.955     3.48078849    1,757.64     6%       (105.46)
    1997        2.073139       482.360   1997     2.073139       (0.227)    481.698     3.48078849    1,676.69  90% * 5%     (75.45)
    1996        1.621962       616.537   1996     1.621962       (0.290)    615.586     3.48078849    2,142.72  90% * 4%     (77.14)
    1995        1.319349       757.950   1995     1.319349       (0.356)    756.642     3.48078849    2,633.71  90% * 3%     (71.11)
    1994        1.049002       953.287   1994    1.0490021       (0.448)    951.531     3.48078849    3,312.08    NONE         0.00
    1993        1.057363       945.749   1993     1.023806       (0.459)    943.534     3.48078849    3,284.24    NONE         0.00
    Incep       1.000000     1,000.000   1992            0        0.000     997.785     3.48078849    3,473.08    NONE         0.00

<CAPTION>

-------------------------------------------------------------------------------
                                                   Total Accum       Average
               Total Accum                         Value After        Annual
               Value After           Full          Deduction          Total
                Deduction         Surrender           For             Return
   End of        For Surr           Admin          Admin Fee            n
     Qtr          Charge             Fee             (ERV)         P(1+T) = ERV
--------------------------------------------------------------------------------
<S>                <C>                 <C>           <C>                <C>
    1999           1,358.72            (0.47)        1,358.25           35.83%
    1998           1,652.18            (0.47)        1,651.71           28.52%
    1997           1,601.24            (0.47)        1,600.77           16.98%
    1996           2,065.58            (0.47)        2,065.11           19.88%
    1995           2,562.60            (0.47)        2,562.13           20.70%
    1994           3,312.08            (0.47)        3,311.61           22.09%
    1993           3,284.24            (0.47)        3,283.77           18.51%
    Incep          3,473.08            (0.47)        3,472.61           18.27%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                             Accum                 For          Units
                             Units     Year of    Annual      (Deducted)   Total                      Total    Surrender
   End of      Unit        Purchased    Admin   Admin Fee     For Annual   Accum       09/30/2000     Accum      Charge   Surrender
     Qtr       Value      For $1,000     Fee          0.00    Admin Fee    Units       Unit Value     Value       Calc     Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>         <C>     <C>             <C>        <C>         <C>           <C>       <C>         <C>
    1999        2.381370       419.926   1998      2.38137       0.000        419.926   3.48078849    1,461.67
    1998        1.978670       505.390   1997      1.97867       0.000        505.390   3.48078849    1,759.16
    1997        2.073139       482.360   1997     2.073139       0.000        482.360   3.48078849    1,678.99
    1996        1.621962       616.537   1996     1.621962       0.000        616.537   3.48078849    2,146.03
    1995        1.319349       757.950   1995     1.319349       0.000        757.950   3.48078849    2,638.26
    1994        1.049002       953.287   1994    1.0490021       0.000        953.287   3.48078849    3,318.19
    1993        1.057363       945.749   1993     1.023806       0.000        945.749   3.48078849    3,291.95
    Incep       1.000000     1,000.000   1992            0       0.000      1,000.000   3.48078849    3,480.79


<CAPTION>

-------------------------------------------------------------------------------
                                                   Total Accum       Average
               Total Accum                         Value After        Annual
               Value After           Full          Deduction          Total
                Deduction         Surrender           For             Return
   End of        For Surr           Admin          Admin Fee            n
     Qtr          Charge             Fee             (ERV)         P(1+T) = ERV
--------------------------------------------------------------------------------
<S>                <C>                 <C>           <C>                <C>
    1999           1,461.67            0.00          1,461.67           46.17%
    1998           1,759.16            0.00          1,759.16           32.63%
    1997           1,678.99            0.00          1,678.99           18.85%
    1996           2,146.03            0.00          2,146.03           21.03%
    1995           2,638.26            0.00          2,638.26           21.41%
    1994           3,318.19            0.00          3,318.19           22.13%
    1993           3,291.95            0.00          3,291.95           18.56%
    Incep          3,480.79            0.00          3,480.79           18.30%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  BALANCED FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value        Accum
                              Accum                 For            Units
                              Units     Year of    Annual        (Deducted)   Total                   Total    Surrender
   End of       Unit        Purchased    Admin   Admin Fee       For Annual   Accum    09/30/00       Accum      Charge   Surrender
     Qtr        Value      For $1,000     Fee         (0.60)     Admin Fee    Units    Unit Value     Value       Calc     Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>         <C>           <C>        <C>           <C>        <C>        <C>           <C>       <C>        <C>
   1999         2.381370       419.926    1998       2.381370      (0.252)    419.674    3.48078849    1,460.80  90% * 8%   (105.18)
   1998         1.978670       505.390    1997       1.978670      (0.303)    504.835    3.48078849    1,757.22  90% * 7%   (110.70)
   1997         2.073139       482.360    1997       2.073139      (0.289)    481.516    3.48078849    1,676.06  90% * 6%    (90.51)
   1996         1.621962       616.537    1996       1.621962      (0.370)    615.323    3.48078849    2,141.81  90% * 5%    (96.38)
   1995         1.319349       757.950    1995       1.319349      (0.455)    756.281    3.48078849    2,632.45  90% * 4%    (94.77)
   1994         1.049002       953.287    1994       1.049002      (0.572)    951.046    3.48078849    3,310.39  90% * 3%    (89.38)
   1993         1.057363       945.749    1993       1.023806      (0.586)    942.922    3.48078849    3,282.11  90% * 2%    (59.08)
   Incep               1     1,000.000    1992              0       0.000     997.173    3.48078849    3,470.95  90% * 1%    (31.24)

<CAPTION>

--------------------------------------------------------------------------------
                                              Total Accum         Average
              Total Accum                      Value After          Annual
              Value After         Full         Deduction            Total
               Deduction       Surrender          For               Return
   End of       For Surr         Admin         Admin Fee              n
     Qtr         Charge           Fee            (ERV)            P(1+T) = ERV
--------------------------------------------------------------------------------
<S>               <C>               <C>         <C>                 <C>
   1999           1,355.62          (0.60)      1,355.02            35.50%
   1998           1,646.52          (0.60)      1,645.92            28.29%
   1997           1,585.55          (0.60)      1,584.95            16.59%
   1996           2,045.43          (0.60)      2,044.83            19.58%
   1995           2,537.68          (0.60)      2,537.08            20.46%  5 YRS
   1994           3,221.01          (0.60)      3,220.41            21.52%
   1993           3,223.03          (0.60)      3,222.43            18.19%
   Incep          3,439.71          (0.60)      3,439.11            18.11%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                             Accum                 For          Units
                             Units     Year of    Annual      (Deducted)   Total                      Total    Surrender
   End of      Unit        Purchased    Admin   Admin Fee     For Annual   Accum       09/30/2000     Accum      Charge   Surrender
     Qtr       Value      For $1,000     Fee          0.00    Admin Fee    Units       Unit Value     Value       Calc     Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>         <C>     <C>             <C>        <C>         <C>           <C>       <C>         <C>
   1999         2.381370       419.926   1998     2.38137        0.000        419.926   3.48078849    1,461.67
   1998         1.978670       505.390   1997    1.978670        0.000        505.390   3.48078849    1,759.16
   1997         2.073139       482.360   1997    2.073139        0.000        482.360   3.48078849    1,678.99
   1996         1.621962       616.537   1996    1.621962        0.000        616.537   3.48078849    2,146.03
   1995         1.319349       757.950   1995    1.319349        0.000        757.950   3.48078849    2,638.26
   1994         1.049002       953.287   1994    1.049002        0.000        953.287   3.48078849    3,318.19
   1993         1.057363       945.749   1993    1.023806        0.000        945.749   3.48078849    3,291.95
   Incep               1     1,000.000   1992           0        0.000      1,000.000   3.48078849    3,480.79

<CAPTION>

-------------------------------------------------------------------------------
                                                   Total Accum       Average
               Total Accum                         Value After        Annual
               Value After           Full          Deduction          Total
                Deduction         Surrender           For             Return
   End of        For Surr           Admin          Admin Fee            n
     Qtr          Charge             Fee             (ERV)         P(1+T) = ERV
--------------------------------------------------------------------------------
<S>                <C>                 <C>           <C>                <C>
   1999            1,461.67            0.00            1,461.67         46.17%
   1998            1,759.16            0.00            1,759.16         32.63%
   1997            1,678.99            0.00            1,678.99         18.85%
   1996            2,146.03            0.00            2,146.03         21.03%
   1995            2,638.26            0.00            2,638.26         21.41%
   1994            3,318.19            0.00            3,318.19         22.13%
   1993            3,291.95            0.00            3,291.95         18.56%
   Incep           3,480.79            0.00            3,480.79         18.30%

</TABLE>

<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  BALANCED FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                              Accum                   For           Units
                              Units       Year of    Annual       (Deducted)   Total                   Total    Surrender
   End of       Unit        Purchased      Admin   Admin Fee      For Annual   Accum     09/30/00      Accum      Charge   Surrender
     Qtr        Value      For $1,000       Fee         (0.37)    Admin Fee    Units     Unit Value    Value       Calc     Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>            <C>        <C>           <C>        <C>      <C>          <C>        <C>        <C>
   1999         2.381370       419.926      1998       2.381370      (0.155)    419.771  3.48078849   1,461.13   90% * 5%   (65.75)
   1998         1.978670       505.390      1997       1.978670      (0.187)    505.048  3.48078849   1,757.97   90% * 5%   (79.11)
   1997         2.073139       482.360      1997       2.073139      (0.178)    481.840  3.48078849   1,677.18   90% * 5%   (75.47)
   1996         1.621962       616.537      1996       1.621962      (0.228)    615.789  3.48078849   2,143.43   90% * 5%   (96.45)
   1995         1.319349       757.950      1995       1.319349      (0.280)    756.922  3.48078849   2,634.69   90% * 3%   (71.14)
   1994         1.049002       953.287      1994       1.049002      (0.353)    951.906  3.48078849   3,313.38   90% * 3%   (89.46)
   1993         1.057363       945.749      1993       1.023806      (0.361)    944.007  3.48078849   3,285.89   90% * 3%   (88.72)
   Incep        1.000000     1,000.000      1992              0       0.000     998.258  3.48078849   3,474.72   90% * 3%   (93.82)

--------------------------------------------------------------------------------
                                                   Total Accum     Average
                    Total Accum                     Value After      Annual
                    Value After        Full         Deduction        Total
                     Deduction       Surrender         For           Return
   End of             For Surr         Admin        Admin Fee          n
     Qtr               Charge           Fee           (ERV)       P(1+T) = ERV
--------------------------------------------------------------------------------
<S>                   <C>               <C>         <C>              <C>
   1999               1,395.38          (0.37)      1,395.01         39.50%
   1998               1,678.86          (0.37)      1,678.49         29.56%
   1997               1,601.71          (0.37)      1,601.34         16.99%
   1996               2,046.98          (0.37)      2,046.61         19.61%
   1995               2,563.55          (0.37)      2,563.18         20.71% 5 YRS
   1994               3,223.92          (0.37)      3,223.55         21.54%
   1993               3,197.17          (0.37)      3,196.80         18.06%
   Incep              3,380.90          (0.37)      3,380.53         17.84%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                                Accum                 For           Units
                                Units     Year of    Annual       (Deducted)   Total                   Total    Surrender
   End of         Unit        Purchased    Admin   Admin Fee      For Annual   Accum      09/30/2000   Accum      Charge   Surrender
     Qtr          Value      For $1,000     Fee          0.00     Admin Fee    Units      Unit Value   Value       Calc     Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>          <C>       <C>               <C>     <C>        <C>           <C>         <C>      <C>
   1999          2.381370       419.926    1998        2.38137         0.000     419.926  3.48078849    1,461.67
   1998          1.978670       505.390    1997        1.97867         0.000     505.390  3.48078849    1,759.16
   1997          2.073139       482.360    1997       2.073139         0.000     482.360  3.48078849    1,678.99
   1996          1.621962       616.537    1996       1.621962         0.000     616.537  3.48078849    2,146.03
   1995          1.319349       757.950    1995       1.319349         0.000     757.950  3.48078849    2,638.26
   1994          1.049002       953.287    1994      1.0490021         0.000     953.287  3.48078849    3,318.19
   1993          1.057363       945.749    1993       1.023806         0.000     945.749  3.48078849    3,291.95
   Incep         1.000000     1,000.000    1992              0         0.000   1,000.000  3.48078849    3,480.79

<CAPTION>
--------------------------------------------------------------------------------
                                                   Total Accum     Average
                   Total Accum                     Value After      Annual
                   Value After         Full        Deduction        Total
                    Deduction       Surrender         For           Return
   End of            For Surr         Admin        Admin Fee          n
     Qtr              Charge           Fee           (ERV)        P(1+T) = ERV
--------------------------------------------------------------------------------
<S>                   <C>                <C>        <C>              <C>
   1999               1,461.67           0.00       1,461.67         46.17%
   1998               1,759.16           0.00       1,759.16         32.63%
   1997               1,678.99           0.00       1,678.99         18.85%
   1996               2,146.03           0.00       2,146.03         21.03%
   1995               2,638.26           0.00       2,638.26         21.41%
   1994               3,318.19           0.00       3,318.19         22.13%
   1993               3,291.95           0.00       3,291.95         18.56%
   Incep              3,480.79           0.00       3,480.79         18.30%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         ALGER AMERICAN LEVERAGED ALLCAP
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)       Total                       Total     Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual       Accum       09/30/00        Accum       Charge
     Qtr          Value      For $1,000      Fee          ($0.47)   Admin Fee       Units      Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>        <C>           <C>       <C>             <C>          <C>          <C>           <C>         <C>
     1999          3.654352     273.646     1999      3.654352        (0.129)      273.517      4.882747      1,335.52       7%
     1998          2.201914     454.150     1998      2.201914        (0.213)      453.808      4.882747      2,215.83       6%
     1997          1.971643     507.191     1997      1.971643        (0.238)      506.611      4.882747      2,473.65    90% * 5%
     1996          1.568356     637.610     1996      1.568356        (0.300)      636.730      4.882747      3,108.99    90% * 4%
     1995          1.441491     693.726     1995      1.441491        (0.326)      692.520      4.882747      3,381.40    90% * 3%
    INCEP          1.000000   1,000.000      N/A             0         0.000       998.794      4.882747      4,876.86      NONE


<CAPTION>
--------------------------------------------------------------------------------
                                                      Total Accum     Average
                            Total Accum               Value After     Annual
                            Value After     Full       Deduction       Total
                             Deduction    Surrender       For         Return
    End of     Surrender     For Surr       Admin      Admin Fee         n
     Qtr        Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>            <C>          <C>            <C>        <C>             <C>
     1999       (93.49)      1,242.03       (0.47)     1,241.56        24.16%
     1998      (132.95)      2,082.88       (0.47)     2,082.41        44.31%
     1997      (111.31)      2,362.34       (0.47)     2,361.87        33.17%
     1996      (111.92)      2,997.07       (0.47)     2,996.60        31.57%
     1995       (91.30)      3,290.10       (0.47)     3,289.63        26.89%
    INCEP         0.00       4,876.86       (0.47)     4,876.39        34.54%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)       Total                       Total     Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual       Accum       09/30/00        Accum       Charge
     Qtr          Value      For $1,000      Fee           $0.00    Admin Fee       Units      Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>            <C>        <C>            <C>        <C>            <C>           <C>            <C>
     1999        3.654352      273.646      1999       3.669580       0.000        273.646      4.882747      1,336.14
     1998        2.201914      454.150      1998       2.359231       0.000        454.150      4.882747      2,217.50
     1997        1.971643      507.191      1997       1.799524       0.000        507.191      4.882747      2,476.49
     1996        1.568356      637.610      1996       1.564112       0.000        637.610      4.882747      3,113.29
     1995        1.441491      693.726      1995       1.186167       0.000        693.726      4.882747      3,387.29
    INCEP        1.000000    1,000.000       N/A              0       0.000      1,000.000      4.882747      4,882.75

<CAPTION>
--------------------------------------------------------------------------------
                                                      Total Accum     Average
                            Total Accum               Value After     Annual
                            Value After     Full       Deduction       Total
                             Deduction    Surrender       For         Return
    End of     Surrender     For Surr       Admin      Admin Fee         n
     Qtr        Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>           <C>            <C>             <C>       <C>             <C>
     1999                    1,336.14        0.00      1,336.14        33.61%
     1998                    2,217.50        0.00      2,217.50        48.91%
     1997                    2,476.49        0.00      2,476.49        35.29%
     1996                    3,113.29        0.00      3,113.29        32.83%
     1995                    3,387.29        0.00      3,387.29        27.64%
    INCEP                    4,882.75        0.00      4,882.75        34.60%
</TABLE>




<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         ALGER AMERICAN LEVERAGED ALLCAP
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)       Total                       Total     Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual       Accum     09/30/00          Accum       Charge
     Qtr          Value      For $1,000      Fee           ($0.60)  Admin Fee       Units      Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>         <C>        <C>           <C>          <C>          <C>          <C>           <C>
1999               3.654352       273.646   1998       3.654352      (0.164)      273.482      4.882747     1,335.34      90% * 8%
1998               2.201914       454.150   1998       2.201914      (0.272)      453.878      4.882747     2,216.17      90% * 7%
1997               1.971643       507.191   1997       1.971643      (0.304)      506.450      4.882747     2,472.87      90% * 6%
1996               1.568356       637.610   1996       1.568356      (0.383)      636.486      4.882747     3,107.80      90% * 5%
1995               1.441491       693.726   1995       1.441491      (0.416)      692.186      4.882747     3,379.77      90% * 4%
    INCEP          1.000000     1,000.000      N/A     0.000000       0.000       998.460      4.882747     4,875.23      90% * 3%

<CAPTION>
--------------------------------------------------------------------------------
                                                     Total Accum     Average
                           Total Accum               Value After     Annual
                           Value After     Full       Deduction       Total
                            Deduction    Surrender       For         Return
    End of    Surrender     For Surr       Admin      Admin Fee         n
     Qtr       Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>            <C>          <C>            <C>        <C>             <C>
1999            (96.14)     1,239.20       (0.60)     1,238.60        23.86%
1998           (139.62)     2,076.55       (0.60)     2,075.95        44.08%
1997           (133.53)     2,339.34       (0.60)     2,338.74        32.74%
1996           (139.85)     2,967.95       (0.60)     2,967.35        31.25%
1995           (121.67)     3,258.10       (0.60)     3,257.50        26.64%
    INCEP      (131.63)     4,743.60       (0.60)     4,743.00        33.84%
</TABLE>



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)       Total                       Total     Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual       Accum     09/30/00          Accum       Charge
     Qtr          Value      For $1,000      Fee            $0.00   Admin Fee       Units      Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>            <C>         <C>        <C>              <C>         <C>          <C>           <C>         <C>
1999               3.654352       273.646     1998       3.654352         0.000       273.646      4.882747      1,336.14
1998               2.201914       454.150     1998       2.201914         0.000       454.150      4.882747      2,217.50
1997               1.971643       507.191     1997       1.971643         0.000       507.191      4.882747      2,476.49
1996               1.568356       637.610     1996       1.568356         0.000       637.610      4.882747      3,113.29
1995               1.441491       693.726     1995       1.441491         0.000       693.726      4.882747      3,387.29
    INCEP          1.000000     1,000.000     N/A        0.000000         0.000     1,000.000      4.882747      4,882.75

<CAPTION>
--------------------------------------------------------------------------------
                                                      Total Accum     Average
                            Total Accum               Value After     Annual
                            Value After     Full       Deduction       Total
                             Deduction    Surrender       For         Return
    End of     Surrender     For Surr       Admin      Admin Fee         n
     Qtr        Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>             <C>             <C>             <C>       <C>             <C>
1999                            1,336.14        0.00      1,336.14        33.61%
1998                            2,217.50        0.00      2,217.50        48.91%
1997                            2,476.49        0.00      2,476.49        35.29%
1996                            3,113.29        0.00      3,113.29        32.83%
1995                            3,387.29        0.00      3,387.29        27.64%
    INCEP                       4,882.75        0.00      4,882.75        34.60%
</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         ALGER AMERICAN LEVERAGED ALLCAP
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)       Total                       Total     Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual       Accum     09/30/00          Accum       Charge
     Qtr          Value      For $1,000      Fee           ($0.37)  Admin Fee       Units      Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>           <C>        <C>           <C>           <C>        <C>              <C>        <C>
1999             3.654352       273.646     1998       3.654352      (0.101)       273.545    4.882746821      1,335.65   90% * 5%
1998             2.201914       454.150     1998       2.201914      (0.168)       453.982    4.882746821      2,216.68   90% * 5%
1997             1.971643       507.191     1997       1.971643      (0.188)       506.734    4.882746821      2,474.25   90% * 5%
1996             1.568356       637.610     1996       1.568356      (0.236)       636.917    4.882746821      3,109.91   90% * 5%
1995             1.441491       693.726     1995       1.441491      (0.257)       692.776    4.882746821      3,382.65   90% * 3%
    INCEP               1     1,000.000        N/A            0       0.000        999.050    4.882746821      4,878.11   90% * 3%

<CAPTION>
--------------------------------------------------------------------------------
                                                     Total Accum     Average
                           Total Accum               Value After     Annual
                           Value After     Full       Deduction       Total
                            Deduction    Surrender       For         Return
    End of    Surrender     For Surr       Admin      Admin Fee         n
     Qtr       Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>           <C>           <C>           <C>         <C>            <C>
1999           (60.10)      1,275.55      (0.37)      1,275.18       27.52%
1998           (99.75)      2,116.93      (0.37)      2,116.56       45.48%
1997          (111.34)      2,362.91      (0.37)      2,362.54       33.19%
1996          (139.95)      2,969.96      (0.37)      2,969.59       31.27%
1995           (91.33)      3,291.32      (0.37)      3,290.95       26.90%
    INCEP     (131.71)      4,746.40      (0.37)      4,746.03       33.86%
</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)       Total                       Total     Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual       Accum     09/30/00          Accum       Charge
     Qtr          Value      For $1,000      Fee            $0.00   Admin Fee       Units      Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>           <C>        <C>            <C>       <C>          <C>               <C>           <C>
1999             3.654352       273.646     1998       3.654352       0.000       273.646    4.882746821       1,336.14
1998             2.201914       454.150     1998       2.201914       0.000       454.150    4.882746821       2,217.50
1997             1.971643       507.191     1997       1.971643       0.000       507.191    4.882746821       2,476.49
1996             1.568356       637.610     1996       1.568356       0.000       637.610    4.882746821       3,113.29
1995             1.441491       693.726     1995       1.441491       0.000       693.726    4.882746821       3,387.29
    INCEP               1     1,000.000        N/A            0       0.000     1,000.000    4.882746821       4,882.75

<CAPTION>
--------------------------------------------------------------------------------
                                                     Total Accum     Average
                           Total Accum               Value After     Annual
                           Value After     Full       Deduction       Total
                            Deduction    Surrender       For         Return
    End of    Surrender     For Surr       Admin      Admin Fee         n
     Qtr       Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>           <C>           <C>             <C>       <C>             <C>
1999                        1,336.14        0.00      1,336.14        33.61%
1998                        2,217.50        0.00      2,217.50        48.91%
1997                        2,476.49        0.00      2,476.49        35.29%
1996                        3,113.29        0.00      3,113.29        32.83%
1995                        3,387.29        0.00      3,387.29        27.64%
    INCEP                   4,882.75        0.00      4,882.75        34.60%
</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       ALGER AMERICAN SMALL CAPITALIZATION
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
----------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value   Accum
                               Accum                   For       Units
                               Units      Year of     Annual   (Deducted)   Total                 Total     Surrender
   End of         Unit       Purchased     Admin    Admin Fee  For Annual   Accum     09/30/00    Accum      Charge     Surrender
     Qtr          Value      For $1,000     Fee        ($0.47) Admin Fee    Units    Unit Value   Value       Calc        Charge
----------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>           <C>       <C>         <C>       <C>        <C>        <C>        <C>          <C>
    1999         1.726428      579.231     1998      1.726428    (0.272)   578.959    2.033580   1,177.36      7%        (82.42)
    1998         1.278219      782.339     1998      1.278219    (0.368)   781.699    2.033580   1,589.65      6%        (95.38)
    1997         1.485851      673.015     1997      1.485851    (0.316)   672.059    2.033580   1,366.69   90% * 5%     (61.50)
    1996         1.310829      762.876     1996      1.310829    (0.359)   761.561    2.033580   1,548.70   90% * 4%     (55.75)
    1995         1.331113      751.251     1995      1.331113    (0.353)   749.583    2.033580   1,524.34   90% * 3%     (41.16)
    INCEP        1.000000    1,000.000     N/A              0     0.000    998.332    2.033580   2,030.19     NONE         0.00

<CAPTION>
----------------------------------------------------------
                                 Total Accum    Average
           Total Accum          Value After      Annual
           Value After   Full    Deduction       Total
            Deduction  Surrender    For         Return
   End of    For Surr    Admin   Admin Fee         n
     Qtr      Charge      Fee      (ERV)     P(1+T) = ERV
----------------------------------------------------------
<S>         <C>          <C>    <C>             <C>
    1999    1,094.94     (0.47) 1,094.47         9.45%
    1998    1,494.27     (0.47) 1,493.80        22.22%
    1997    1,305.19     (0.47) 1,304.72         9.27%
    1996    1,492.95     (0.47) 1,492.48        10.53%
    1995    1,483.18     (0.47) 1,482.71         8.19%
    INCEP   2,030.19     (0.47) 2,029.72        14.17%
</TABLE>




<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value   Accum
                               Accum                   For       Units
                               Units      Year of     Annual   (Deducted)   Total                 Total     Surrender
   End of         Unit       Purchased     Admin    Admin Fee  For Annual   Accum     09/30/00    Accum      Charge     Surrender
     Qtr          Value      For $1,000     Fee          $0.00 Admin Fee    Units    Unit Value   Value       Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>           <C>      <C>          <C>      <C>         <C>        <C>          <C>            <C>
    1999         1.726428      579.231     1998     1.726428     0.000      579.231   2.033580   1,177.91
    1998         1.278219      782.339     1998     1.278219     0.000      782.339   2.033580   1,590.95
    1997         1.485851      673.015     1997     1.485851     0.000      673.015   2.033580   1,368.63
    1996         1.310829      762.876     1996     1.310829     0.000      762.876   2.033580   1,551.37
    1995         1.331113      751.251     1995     1.331113     0.000      751.251   2.033580   1,527.73
    INCEP        1.000000    1,000.000     N/A             0     0.000    1,000.000   2.033580   2,033.58

<CAPTION>
---------------------------------------------------------
                                 Total Accum  Average
          Total Accum            Value After  Annual
          Value After   Full     Deduction     Total
          Deduction   Surrender     For       Return
   End of  For Surr     Admin    Admin Fee       n
     Qtr    Charge       Fee       (ERV)     P(1+T) = ERV
---------------------------------------------------------
<S>        <C>           <C>     <C>           <C>
    1999   1,177.91      0.00    1,177.91      17.79%
    1998   1,590.95      0.00    1,590.95      26.13%
    1997   1,368.63      0.00    1,368.63      11.03%
    1996   1,551.37      0.00    1,551.37      11.60%
    1995   1,527.73      0.00    1,527.73       8.85%
    INCEP  2,033.58      0.00    2,033.58      14.22%
</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       ALGER AMERICAN SMALL CAPITALIZATION
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value   Accum
                               Accum                   For       Units
                               Units      Year of     Annual   (Deducted)   Total                 Total     Surrender
   End of         Unit       Purchased     Admin    Admin Fee  For Annual   Accum    09/30/00     Accum      Charge     Surrender
     Qtr          Value      For $1,000     Fee         ($0.60) Admin Fee   Units   Unit Value    Value       Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>           <C>       <C>         <C>       <C>       <C>        <C>         <C>          <C>
    1999         1.726428      579.231     1999      1.726428    (0.348)   578.883   2.033580   1,177.21    90% * 8%      (84.76)
    1998         1.278219      782.339     1998      1.278219    (0.469)   781.522   2.033580   1,589.29    90% * 7%     (100.13)
    1997         1.485851      673.015     1997      1.485851    (0.404)   671.794   2.033580   1,366.15    90% * 6%      (73.77)
    1996         1.310829      762.876     1996      1.310829    (0.458)   761.198   2.033580   1,547.96    90% * 5%      (69.66)
    1995         1.331113      751.251     1995      1.331113    (0.451)   749.122   2.033580   1,523.40    90% * 4%      (54.84)
    INCEP        1.000000    1,000.000     N/A              0     0.000    997.871   2.033580   2,029.25    90% * 3%      (54.79)


<CAPTION>
-----------------------------------------------------------
                                 Total Accum    Average
            Total Accum          Value After    Annual
            Value After  Full    Deduction       Total
            Deduction  Surrender    For         Return
   End of    For Surr    Admin   Admin Fee         n
     Qtr      Charge      Fee      (ERV)     P(1+T) = ERV
-----------------------------------------------------------
<S>          <C>        <C>      <C>             <C>
    1999     1,092.45   (0.60)   1,091.85         9.19%
    1998     1,489.16   (0.60)   1,488.56        22.01%
    1997     1,292.38   (0.60)   1,291.78         8.91%
    1996     1,478.30   (0.60)   1,477.70        10.25%
    1995     1,468.56   (0.60)   1,467.96         7.98%
    INCEP    1,974.46   (0.60)   1,973.86        13.58%
</TABLE>



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value   Accum
                               Accum                   For       Units
                               Units      Year of     Annual   (Deducted)   Total                 Total     Surrender
   End of         Unit       Purchased     Admin    Admin Fee  For Annual   Accum    09/30/00     Accum      Charge     Surrender
     Qtr          Value      For $1,000     Fee          $0.00 Admin Fee    Units    Unit Value   Value       Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>         <C>           <C>       <C>          <C>      <C>        <C>        <C>           <C>            <C>
    1999        1.726428      579.231     1999      1.726428     0.000      579.231  2.033580   1,177.91
    1998        1.278219      782.339     1998      1.278219     0.000      782.339  2.033580   1,590.95
    1997        1.485851      673.015     1997      1.485851     0.000      673.015  2.033580   1,368.63
    1996        1.310829      762.876     1996      1.310829     0.000      762.876  2.033580   1,551.37
    1995        1.331113      751.251     1995      1.331113     0.000      751.251  2.033580   1,527.73
    INCEP       1.000000    1,000.000     N/A              0     0.000    1,000.000  2.033580   2,033.58

<CAPTION>
--------------------------------------------------------------
                                    Total Accum   Average
               Total Accum          Value After   Annual
               Value After  Full    Deduction      Total
               Deduction  Surrender    For        Return
   End of       For Surr    Admin   Admin Fee        n
     Qtr         Charge      Fee      (ERV)     P(1+T) = ERV
--------------------------------------------------------------
<S>             <C>         <C>    <C>             <C>
    1999        1,177.91    0.00   1,177.91        17.79%
    1998        1,590.95    0.00   1,590.95        26.13%
    1997        1,368.63    0.00   1,368.63        11.03%
    1996        1,551.37    0.00   1,551.37        11.60%
    1995        1,527.73    0.00   1,527.73         8.85%
    INCEP       2,033.58    0.00   2,033.58        14.22%
</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       ALGER AMERICAN SMALL CAPITALIZATION
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT) - GROUP
-----------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value   Accum
                               Accum                   For       Units
                               Units      Year of     Annual   (Deducted)   Total                 Total     Surrender
   End of         Unit       Purchased     Admin    Admin Fee  For Annual   Accum    09/30/00     Accum      Charge     Surrender
     Qtr          Value      For $1,000     Fee        ($0.37) Admin Fee    Units    Unit Value   Value       Calc        Charge
-----------------------------------------------------------------------------------------------------------------------------------
<S>             <C>         <C>           <C>        <C>        <C>        <C>       <C>        <C>         <C>          <C>
1999            1.726428      579.231     1998       1.726428   (0.214)    579.017   2.033580   1,177.48    90% * 5%     (52.99)
1998            1.278219      782.339     1998       1.278219   (0.289)    781.835   2.033580   1,589.92    90% * 5%     (71.55)
1997            1.485851      673.015     1997       1.485851   (0.249)    672.262   2.033580   1,367.10    90% * 5%     (61.52)
1996            1.310829      762.876     1996       1.310829   (0.282)    761.841   2.033580   1,549.26    90% * 5%     (69.72)
1995            1.331113      751.251     1995       1.331113   (0.278)    749.938   2.033580   1,525.06    90% * 3%     (41.18)
    INCEP       1.000000    1,000.000        N/A     0.000000    0.000     998.687   2.033580   2,030.91    90% * 3%     (54.83)
<CAPTION>

-------------------------------------------------------------
                                    Total Accum  Average
               Total Accum          Value After  Annual
               Value After  Full    Deduction     Total
               Deduction  Surrender    For       Return
   End of       For Surr    Admin   Admin Fee       n
     Qtr         Charge      Fee      (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>            <C>          <C>     <C>             <C>
1999           1,124.49     (0.37)  1,124.12        12.41%
1998           1,518.37     (0.37)  1,518.00        23.21%
1997           1,305.58     (0.37)  1,305.21         9.29%
1996           1,479.54     (0.37)  1,479.17        10.28%
1995           1,483.88     (0.37)  1,483.51         8.21%
    INCEP      1,976.08     (0.37)  1,975.71        13.60%

</TABLE>


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT) - GROUP
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value   Accum
                               Accum                   For       Units
                               Units      Year of     Annual   (Deducted)   Total                 Total     Surrender
   End of         Unit       Purchased     Admin    Admin Fee  For Annual   Accum    09/30/00     Accum      Charge     Surrender
     Qtr          Value      For $1,000     Fee          $0.00 Admin Fee    Units    Unit Value   Value       Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>          <C>        <C>         <C>     <C>         <C>        <C>         <C>         <C>
1999             1.726428      579.231    1998       1.726428    0.000     579.231   2.033580   1,177.91
1998             1.278219      782.339    1998       1.278219    0.000     782.339   2.033580   1,590.95
1997             1.485851      673.015    1997       1.485851    0.000     673.015   2.033580   1,368.63
1996             1.310829      762.876    1996       1.310829    0.000     762.876   2.033580   1,551.37
1995             1.331113      751.251    1995       1.331113    0.000     751.251   2.033580   1,527.73
    INCEP        1.000000    1,000.000       N/A     0.000000    0.000   1,000.000   2.033580   2,033.58


<CAPTION>
---------------------------------------------------------
                                Total Accum   Average
           Total Accum          Value After   Annual
           Value After  Full    Deduction      Total
           Deduction  Surrender    For        Return
   End of   For Surr    Admin   Admin Fee        n
     Qtr     Charge      Fee      (ERV)     P(1+T) = ERV
---------------------------------------------------------
<S>        <C>           <C>     <C>            <C>
1999       1,177.91      0.00    1,177.91       17.79%
1998       1,590.95      0.00    1,590.95       26.13%
1997       1,368.63      0.00    1,368.63       11.03%
1996       1,551.37      0.00    1,551.37       11.60%
1995       1,527.73      0.00    1,527.73        8.85%
    INCEP  2,033.58      0.00    2,033.58       14.22%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              ALGER AMERICAN GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
---------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value     Accum
                               Accum                For         Units
                               Units    Year of    Annual     (Deducted)    Total                 Total    Surrender
   End of         Unit       Purchased   Admin   Admin Fee    For Annual    Accum     09/30/00    Accum      Charge    Surrender
     Qtr          Value     For $1,000    Fee         ($0.47) Admin Fee     Units    Unit Value   Value       Calc       Charge
---------------------------------------------------------------------------------------------------------------------------------
<S>              <C>        <C>         <C>      <C>            <C>        <C>       <C>        <C>        <C>          <C>
    1999         1.926338     519.120   1999     1.926338       (0.244)    518.876   2.317878   1,202.69      7%        (84.19)
    1998         1.405349     711.567     1998   1.405349       (0.334)    710.989   2.317878   1,647.98      6%        (98.88)
    1997         1.250165     799.894     1997   1.250165       (0.376)    798.940   2.317878   1,851.84    90%*5%      (83.33)
    INCEP        1.000000   1,000.000    N/A            0        0.000     999.046   2.317878   2,315.67   90% * 4%     (83.36)

<CAPTION>
---------------------------------------------------------------
                                      Total Accum  Average
                Total Accum           Value After   Annual
                Value After   Full     Deduction    Total
                Deduction  Surrender      For       Return
   End of        For Surr    Admin     Admin Fee      n
     Qtr          Charge      Fee        (ERV)    P(1+T) = ERV
---------------------------------------------------------------
<S>              <C>         <C>       <C>          <C>
    1999         1,118.50    (0.47)    1,118.03     11.81%
    1998         1,549.10    (0.47)    1,548.63     24.44%
    1997         1,768.51    (0.47)    1,768.04     20.92%
    INCEP        2,232.31    (0.47)    2,231.84     26.46%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
---------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value     Accum
                               Accum                For         Units
                               Units    Year of    Annual     (Deducted)    Total                 Total     Surrender
   End of         Unit       Purchased   Admin   Admin Fee    For Annual    Accum     09/30/00    Accum      Charge    Surrender
     Qtr          Value     For $1,000    Fee          $0.00  Admin Fee     Units    Unit Value   Value       Calc       Charge
---------------------------------------------------------------------------------------------------------------------------------
<S>              <C>        <C>          <C>      <C>           <C>     <C>          <C>         <C>         <C>        <C>
    1999         1.926338     519.120    1999     1.926338      0.000     519.120    2.317878    1,203.26
    1998         1.405349     711.567      1998   1.405349      0.000     711.567    2.317878    1,649.33
    1997         1.250165     799.894      1997   1.250165      0.000     799.894    2.317878    1,854.06
    INCEP        1.000000   1,000.000     N/A            0      0.000   1,000.000    2.317878    2,317.88

<CAPTION>
--------------------------------------------------------------
                                      Total Accum  Average
                Total Accum           Value After   Annual
                Value After   Full     Deduction    Total
                Deduction  Surrender      For       Return
   End of        For Surr    Admin     Admin Fee      n
     Qtr          Charge      Fee        (ERV)    P(1+T) = ERV
--------------------------------------------------------------
<S>              <C>          <C>      <C>          <C>
    1999         1,203.26     0.00     1,203.26     20.33%
    1998         1,649.33     0.00     1,649.33     28.43%
    1997         1,854.06     0.00     1,854.06     22.85%
    INCEP        2,317.88     0.00     2,317.88     27.87%
</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              ALGER AMERICAN GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
---------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value     Accum
                               Accum                For         Units
                               Units    Year of    Annual     (Deducted)    Total                 Total    Surrender
   End of         Unit       Purchased   Admin   Admin Fee    For Annual    Accum    09/30/00     Accum      Charge    Surrender
     Qtr          Value     For $1,000    Fee         ($0.60) Admin Fee     Units    Unit Value   Value       Calc       Charge
---------------------------------------------------------------------------------------------------------------------------------
<S>             <C>        <C>          <C>       <C>          <C>         <C>       <C>         <C>       <C>          <C>
    1999        1.926338     519.120    1999      1.926338     (0.311)     518.809    2.317878   1,202.53  90% * 8%      (86.58)
    1998        1.405349     711.567      1998    1.405349     (0.427)     710.829    2.317878   1,647.61  90% * 7%     (103.80)
    1997        1.250165     799.894      1997    1.250165     (0.480)     798.676    2.317878   1,851.23  90% * 6%      (99.97)
    INCEP       1.000000   1,000.000     N/A      0.000000      0.000      998.782   2.3178779   2,315.05  90% * 5%     (104.18)

<CAPTION>
-------------------------------------------------------------
                                     Total Accum  Average
               Total Accum           Value After   Annual
               Value After   Full     Deduction    Total
               Deduction  Surrender      For       Return
   End of       For Surr    Admin     Admin Fee      n
     Qtr         Charge      Fee        (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>            <C>           <C>      <C>          <C>
    1999       1,115.95      (0.60)   1,115.35     11.54%
    1998       1,543.81      (0.60)   1,543.21     24.23%
    1997       1,751.26      (0.60)   1,750.66     20.52%
    INCEP      2,210.87      (0.60)   2,210.27     26.10%
</TABLE>


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
---------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value     Accum
                               Accum                For         Units
                               Units    Year of    Annual     (Deducted)    Total                 Total    Surrender
   End of         Unit       Purchased   Admin   Admin Fee    For Annual    Accum    09/30/00     Accum      Charge    Surrender
     Qtr          Value     For $1,000    Fee          $0.00  Admin Fee     Units    Unit Value   Value       Calc       Charge
---------------------------------------------------------------------------------------------------------------------------------
<S>             <C>        <C>          <C>       <C>           <C>     <C>         <C>          <C>        <C>         <C>
    1999        1.926338     519.120    1999      1.926338      0.000     519.120    2.317878    1,203.26
    1998        1.405349     711.567      1998    1.405349      0.000     711.567    2.317878    1,649.33
    1997        1.250165     799.894      1997    1.250165      0.000     799.894    2.317878    1,854.06
    INCEP       1.000000   1,000.000     N/A      0.000000      0.000   1,000.000   2.3178779    2,317.88

<CAPTION>
--------------------------------------------------------------
                                      Total Accum  Average
                Total Accum           Value After   Annual
                Value After   Full     Deduction    Total
                Deduction  Surrender      For       Return
   End of        For Surr    Admin     Admin Fee      n
     Qtr          Charge      Fee        (ERV)    P(1+T) = ERV
--------------------------------------------------------------
<S>              <C>          <C>      <C>          <C>
    1999         1,203.26     0.00     1,203.26     20.33%
    1998         1,649.33     0.00     1,649.33     28.43%
    1997         1,854.06     0.00     1,854.06     22.85%
    INCEP        2,317.88     0.00     2,317.88     27.87%
</TABLE>


<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              ALGER AMERICAN GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value     Accum
                               Accum                For         Units
                               Units    Year of    Annual     (Deducted)    Total                 Total    Surrender
   End of         Unit       Purchased   Admin   Admin Fee    For Annual    Accum    09/30/00     Accum      Charge    Surrender
     Qtr          Value     For $1,000    Fee         ($0.37) Admin Fee     Units    Unit Value   Value       Calc       Charge
----------------------------------------------------------------------------------------------------------------------------------
<S>             <C>        <C>         <C>        <C>          <C>        <C>        <C>         <C>       <C>         <C>
    1999        1.926338     519.120   1998       1.926338     (0.192)    518.928    2.317878    1,202.81  90% * 5%     (54.13)
    1998        1.405349     711.567      1998    1.405349     (0.263)    711.112    2.317878    1,648.27  90% * 5%     (74.17)
    1997        1.250165     799.894      1997    1.250165     (0.296)    799.143    2.317878    1,852.32  90% * 5%     (83.35)
    INCEP       1.000000   1,000.000     N/A      0.000000      0.000     999.249    2.317878    2,316.14  90% * 5%    (104.23)

<CAPTION>
--------------------------------------------------------------
                                      Total Accum  Average
                Total Accum           Value After   Annual
                Value After   Full     Deduction    Total
                Deduction  Surrender      For       Return
   End of        For Surr    Admin     Admin Fee      n
     Qtr          Charge      Fee        (ERV)    P(1+T) = ERV
--------------------------------------------------------------
<S>             <C>          <C>       <C>          <C>
    1999        1,148.68     (0.37)    1,148.31     14.83%
    1998        1,574.10     (0.37)    1,573.73     25.45%
    1997        1,768.97     (0.37)    1,768.60     20.93%
    INCEP       2,211.91     (0.37)    2,211.54     26.12%
</TABLE>




<TABLE>
<CAPTION>
GROUP DEFERRED
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value     Accum
                               Accum                For         Units
                               Units    Year of    Annual     (Deducted)    Total                 Total    Surrender
   End of         Unit       Purchased   Admin   Admin Fee    For Annual    Accum    09/30/00     Accum      Charge    Surrender
     Qtr          Value     For $1,000    Fee          $0.00  Admin Fee     Units    Unit Value   Value       Calc       Charge
----------------------------------------------------------------------------------------------------------------------------------
<S>              <C>        <C>         <C>       <C>          <C>      <C>          <C>         <C>        <C>          <C>
    1999         1.926338     519.120   1998      1.926338     0.000      519.120    2.317878    1,203.26
    1998         1.405349     711.567      1998   1.405349     0.000      711.567    2.317878    1,649.33
    1997         1.250165     799.894      1997   1.250165     0.000      799.894    2.317878    1,854.06
    INCEP        1.000000   1,000.000     N/A     0.000000     0.000    1,000.000    2.317878    2,317.88

<CAPTION>
-------------------------------------------------------------
                                     Total Accum  Average
               Total Accum           Value After   Annual
               Value After   Full     Deduction    Total
               Deduction  Surrender      For       Return
   End of       For Surr    Admin     Admin Fee      n
     Qtr         Charge      Fee        (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>             <C>          <C>      <C>          <C>
    1999        1,203.26     0.00     1,203.26     20.33%
    1998        1,649.33     0.00     1,649.33     28.43%
    1997        1,854.06     0.00     1,854.06     22.85%
    INCEP       2,317.88     0.00     2,317.88     27.87%
</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          ALGER AMERICAN MIDCAP GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------

                                               Unit Value     Accum
                             Accum                 For        Units
                             Units    Year of    Annual    (Deducted)   Total                 Total   Surrender
   End of         Unit     Purchased   Admin    Admin Fee  For Annual   Accum    09/30/00     Accum    Charge   Surrender
     Qtr         Value     For $1,000   Fee         ($0.47) Admin Fee   Units   Unit Value    Value     Calc      Charge
--------------------------------------------------------------------------------------------------------------------------
<S>              <C>       <C>         <C>      <C>          <C>       <C>       <C>        <C>        <C>        <C>
    1999         1.611726    620.453   1998     1.611726     (0.292)   620.161   2.437008   1,511.34     7%       (105.79)
         1998    1.220459    819.364     1998   1.220459     (0.385)   818.687   2.437008   1,995.15     6%       (119.71)
         1997    1.296128    771.529     1997   1.296128     (0.363)   770.490   2.437008   1,877.69   90%*5%      (84.50)
    INCEP        1.000000  1,000.000   N/A             0      0.000    998.961   2.437008   2,434.48   90%*4%      (87.64)

<CAPTION>
--------------------------------------------------------------
                                      Total Accum   Average
                 Total Accum          Value After   Annual
                 Value After   Full     Deduction    Total
                  Deduction  Surrender     For      Return
   End of         For Surr    Admin    Admin Fee       n
     Qtr           Charge      Fee       (ERV)    P(1+T) = ERV
--------------------------------------------------------------
<S>                <C>         <C>     <C>           <C>
    1999           1,405.55    (0.47)  1,405.08      40.51%
         1998      1,875.44    (0.47)  1,874.97      36.93%
         1997      1,793.19    (0.47)  1,792.72      21.48%
    INCEP          2,346.84    (0.47)  2,346.37      28.32%
</TABLE>



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------

                                               Unit Value     Accum
                             Accum                 For        Units
                             Units    Year of    Annual    (Deducted)   Total                 Total   Surrender
   End of         Unit     Purchased   Admin    Admin Fee  For Annual   Accum    09/30/00     Accum    Charge   Surrender
     Qtr         Value     For $1,000   Fee          $0.00  Admin Fee   Units   Unit Value    Value     Calc      Charge
--------------------------------------------------------------------------------------------------------------------------
<S>             <C>       <C>         <C>       <C>           <C>    <C>         <C>        <C>         <C>       <C>
    1999        1.611726    620.453   1998      1.611726      0.000   620.453    2.437008   1,512.05
         1998   1.220459    819.364     1998    1.220459      0.000   819.364    2.437008   1,996.80
         1997   1.296128    771.529     1997    1.296128      0.000   771.529    2.437008   1,880.22
    INCEP       1.000000  1,000.000   N/A              0      0.000  1,000.000   2.437008   2,437.01

<CAPTION>
---------------------------------------------------------------
                                       Total Accum  Average
                  Total Accum          Value After  Annual
                  Value After  Full    Deduction     Total
                  Deduction  Surrender    For       Return
   End of         For Surr     Admin   Admin Fee       n
     Qtr           Charge       Fee      (ERV)    P(1+T) = ERV
---------------------------------------------------------------
<S>               <C>           <C>    <C>           <C>
    1999          1,512.05      0.00   1,512.05      51.20%
         1998     1,996.80      0.00   1,996.80      41.31%
         1997     1,880.22      0.00   1,880.22      23.42%
    INCEP         2,437.01      0.00   2,437.01      29.79%
</TABLE>



<PAGE>





                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          ALGER AMERICAN MIDCAP GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------

                                               Unit Value     Accum
                             Accum                 For        Units
                             Units    Year of    Annual    (Deducted)   Total                 Total   Surrender
   End of         Unit     Purchased   Admin    Admin Fee  For Annual   Accum   09/30/00      Accum    Charge   Surrender
     Qtr         Value     For $1,000   Fee        ($0.60)  Admin Fee   Units   Unit Value    Value     Calc      Charge
--------------------------------------------------------------------------------------------------------------------------
<S>              <C>       <C>         <C>      <C>         <C>       <C>        <C>        <C>        <C>        <C>
    1999         1.611726    620.453   1999     1.611726    (0.372)   620.081    2.437008   1,511.14   90% * 8%   (108.80)
         1998    1.220459    819.364     1998   1.220459    (0.492)   818.500    2.437008   1,994.69   90% * 7%   (125.67)
         1997    1.296128    771.529     1997   1.296128    (0.463)   770.202    2.437008   1,876.99   90% * 6%   (101.36)
    INCEP        1.000000  1,000.000   N/A      0.000000     0.000    998.673    2.437008   2,433.77   90% * 5%   (109.52)

<CAPTION>

---------------------------------------------------------------
                                       Total Accum  Average
                  Total Accum          Value After  Annual
                  Value After   Full    Deduction     Total
                  Deduction   Surrender    For       Return
   End of         For Surr     Admin    Admin Fee       n
     Qtr           Charge       Fee       (ERV)    P(1+T) = ERV
---------------------------------------------------------------
<S>                <C>          <C>     <C>           <C>
    1999           1,402.34     (0.60)  1,401.74      40.18%
         1998      1,869.02     (0.60)  1,868.42      36.69%
         1997      1,775.63     (0.60)  1,775.03      21.08%
    INCEP          2,324.25     (0.60)  2,323.65      27.96%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------

                                               Unit Value     Accum
                             Accum                 For        Units
                             Units    Year of    Annual    (Deducted)   Total                 Total   Surrender
   End of         Unit     Purchased   Admin    Admin Fee  For Annual   Accum      09/30/00   Accum    Charge   Surrender
     Qtr         Value     For $1,000   Fee          $0.00  Admin Fee   Units   Unit Value    Value     Calc      Charge
--------------------------------------------------------------------------------------------------------------------------
<S>             <C>       <C>          <C>      <C>          <C>      <C>         <C>        <C>       <C>       <C>
    1999        1.611726    620.453    1999     1.611726     0.000     620.453    2.437008   1,512.05
         1998   1.220459    819.364      1998   1.220459     0.000     819.364    2.437008   1,996.80
         1997   1.296128    771.529      1997   1.296128     0.000     771.529    2.437008   1,880.22
    INCEP       1.000000  1,000.000    N/A      0.000000     0.000    1,000.000   2.437008   2,437.01

<CAPTION>
------------------------------------------------------------
                                     Total Accum  Average
                 Total Accum         Value After  Annual
                 Value After Full    Deduction     Total
                 Deduction Surrender    For       Return
   End of        For Surr    Admin   Admin Fee       n
     Qtr          Charge      Fee      (ERV)    P(1+T) = ERV
------------------------------------------------------------
<S>               <C>           <C>    <C>           <C>
    1999          1,512.05      0.00   1,512.05      51.20%
         1998     1,996.80      0.00   1,996.80      41.31%
         1997     1,880.22      0.00   1,880.22      23.42%
    INCEP         2,437.01      0.00   2,437.01      29.79%
</TABLE>




<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          ALGER AMERICAN MIDCAP GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
-------------------------------------------------------------------------------------------------------------------------

                                               Unit Value     Accum
                             Accum                 For        Units
                             Units    Year of    Annual    (Deducted)   Total                 Total   Surrender
   End of         Unit     Purchased   Admin    Admin Fee  For Annual   Accum   09/30/00      Accum    Charge   Surrender
     Qtr         Value     For $1,000   Fee         ($0.37) Admin Fee   Units   Unit Value    Value     Calc      Charge
-------------------------------------------------------------------------------------------------------------------------
<S>             <C>       <C>         <C>       <C>          <C>       <C>       <C>        <C>       <C>        <C>
1999            1.611726    620.453   1998      1.611726     (0.230)   620.223   2.437008   1,511.49  90% * 5%    (68.02)
         1998   1.220459    819.364       1998  1.220459     (0.303)   818.831   2.437008   1,995.50  90% * 5%    (89.80)
         1997   1.296128    771.529       1997  1.296128     (0.285)   770.711   2.437008   1,878.23  90% * 5%    (84.52)
    INCEP       1.000000  1,000.000     N/A     0.000000      0.000    999.182   2.437008   2,435.01  90% * 5%   (109.58)

<CAPTION>
--------------------------------------------------------------
                                       Total Accum  Average
                  Total Accum         Value After  Annual
                  Value After  Full    Deduction     Total
                   Deduction Surrender    For       Return
   End of          For Surr    Admin   Admin Fee       n
     Qtr            Charge      Fee      (ERV)    P(1+T) = ERV
--------------------------------------------------------------
<S>               <C>         <C>      <C>           <C>
1999              1,443.47    (0.37)   1,443.10      44.31%
         1998     1,905.70    (0.37)   1,905.33      38.03%
         1997     1,793.71    (0.37)   1,793.34      21.50%
    INCEP         2,325.43    (0.37)   2,325.06      27.98%
</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
-------------------------------------------------------------------------------------------------------------------------

                                               Unit Value     Accum
                             Accum                 For        Units
                             Units    Year of    Annual    (Deducted)   Total                 Total   Surrender
   End of         Unit     Purchased   Admin    Admin Fee  For Annual   Accum      09/30/00   Accum    Charge   Surrender
     Qtr         Value     For $1,000   Fee          $0.00  Admin Fee   Units    Unit Value   Value     Calc      Charge
-------------------------------------------------------------------------------------------------------------------------
<S>             <C>       <C>         <C>        <C>          <C>     <C>         <C>       <C>        <C>        <C>
1999            1.611726    620.453   1998       1.611726     0.000    620.453    2.437008  1,512.05
         1998   1.220459    819.364       1998   1.220459     0.000    819.364    2.437008  1,996.80
         1997   1.296128    771.529       1997   1.296128     0.000    771.529    2.437008  1,880.22
    INCEP       1.000000  1,000.000     N/A      0.000000     0.000   1,000.000   2.437008  2,437.01

<CAPTION>
--------------------------------------------------------------
                                       Total Accum  Average
                  Total Accum         Value After  Annual
                  Value After  Full    Deduction     Total
                   Deduction Surrender    For       Return
   End of          For Surr    Admin   Admin Fee       n
     Qtr            Charge      Fee      (ERV)    P(1+T) = ERV
--------------------------------------------------------------
<S>                <C>          <C>    <C>           <C>
1999               1,512.05     0.00   1,512.05      51.20%
         1998      1,996.80     0.00   1,996.80      41.31%
         1997      1,880.22     0.00   1,880.22      23.42%
    INCEP          2,437.01     0.00   2,437.01      29.79%
</TABLE>



<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       AMERICAN CENTURY INTERNATIONAL FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                               Accum                     For          Units
                               Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
    End of        Unit       Purchased      Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr          Value      For $1,000      Fee       (0.47)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>           <C>        <C>            <C>          <C>        <C>           <C>            <C>
     1999       1.421594       703.436     1999       1.421594       (0.331)      703.105    1.823897      1,282.39         7%
     1998       1.113763       897.857     1998       1.113763       (0.422)      897.104    1.823897      1,636.23         6%
     1997       1.140407       876.880     1997       1.140407       (0.412)      875.715    1.823897      1,597.21       90%*5%
    Incep       1.000000     1,000.000     N/A        0.000000        0.000       998.835    1.823897      1,821.77       90%*4%

<CAPTION>
--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                 <C>          <C>           <C>         <C>             <C>
     1999           (89.77)      1,192.62      (0.47)      1,192.15        19.21%
     1998           (98.17)      1,538.06      (0.47)      1,537.59        24.00%
     1997           (71.87)      1,525.34      (0.47)      1,524.87        15.10%
    Incep           (65.58)      1,756.19      (0.47)      1,755.72        17.89%
</TABLE>



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                               Accum                     For          Units
                               Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
    End of        Unit       Purchased      Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr          Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>            <C>        <C>           <C>        <C>           <C>          <C>            <C>
     1999       1.421594       703.436      1999       1.421594      0.000        703.436     1.823897     1,282.99
     1998       1.113763       897.857      1998       1.113763      0.000        897.857     1.823897     1,637.60
     1997       1.140407       876.880      1997       1.140407      0.000        876.880     1.823897     1,599.34
    Incep       1.000000     1,000.000      N/A        0.000000      0.000      1,000.000     1.823897     1,823.90

<CAPTION>
--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>         <C>             <C>        <C>             <C>
     1999                        1,282.99        0.00       1,282.99        28.30%
     1998                        1,637.60        0.00       1,637.60        27.97%
     1997                        1,599.34        0.00       1,599.34        16.94%
    Incep                        1,823.90        0.00       1,823.90        19.23%
</TABLE>




<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       AMERICAN CENTURY INTERNATIONAL FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                               Accum                     For          Units
                               Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
    End of        Unit       Purchased      Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr          Value      For $1,000      Fee       (0.60)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>            <C>       <C>            <C>          <C>         <C>          <C>          <C>
     1999       1.421594       703.436      1999      1.421594       (0.422)      703.014     1.823897     1,282.22     90% * 8%
     1998       1.113763       897.857      1998      1.113763       (0.539)      896.896     1.823897     1,635.85     90% * 7%
     1997       1.140407       876.880      1997      1.140407       (0.526)      875.393     1.823897     1,596.63     90% * 6%
    Incep       1.000000     1,000.000      N/A       0.000000        0.000       998.513     1.823897     1,821.19     90% * 5%

<CAPTION>
--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                <C>           <C>            <C>        <C>             <C>
     1999           (92.32)      1,189.90       (0.60)     1,189.30        18.93%
     1998          (103.06)      1,532.79       (0.60)     1,532.19        23.78%
     1997           (86.22)      1,510.41       (0.60)     1,509.81        14.72%
    Incep           (81.95)      1,739.24       (0.60)     1,738.64        17.56%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                               Accum                     For          Units
                               Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
    End of        Unit       Purchased      Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr          Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>            <C>       <C>             <C>       <C>           <C>           <C>         <C>
     1999       1.421594       703.436      1999      1.421594        0.000       703.436     1.823897      1,282.99
     1998       1.113763       897.857      1998      1.113763        0.000       897.857     1.823897      1,637.60
     1997       1.140407       876.880      1997      1.140407        0.000       876.880     1.823897      1,599.34
    Incep       1.000000     1,000.000      N/A       0.000000        0.000     1,000.000     1.823897      1,823.90

<CAPTION>

-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                               Total Accum                Value After     Annual
                               Value After      Full       Deduction       Total
                                Deduction    Surrender        For         Return
    End of        Surrender     For Surr       Admin       Admin Fee         n
     Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                 <C>         <C>             <C>        <C>             <C>
     1999                       1,282.99        0.00       1,282.99        28.30%
     1998                       1,637.60        0.00       1,637.60        27.97%
     1997                       1,599.34        0.00       1,599.34        16.94%
    Incep                       1,823.90        0.00       1,823.90        19.23%
</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       AMERICAN CENTURY INTERNATIONAL FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                               Accum                     For          Units
                               Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
    End of        Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr          Value      For $1,000      Fee       (0.37)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>            <C>        <C>           <C>         <C>         <C>           <C>           <C>
     1999       1.421594       703.436      1999       1.421594      (0.260)     703.176     1.823897      1,282.52      90% * 5%
     1998       1.113763       897.857      1998       1.113763      (0.332)     897.265     1.823897      1,636.52      90% * 5%
     1997       1.140407       876.880      1997       1.140407      (0.324)     875.963     1.823897      1,597.67      90% * 5%
    Incep       1.000000     1,000.000      N/A        0.000000       0.000      999.083     1.823897      1,822.22      90% * 5%

<CAPTION>
-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                               Total Accum                Value After     Annual
                               Value After      Full       Deduction       Total
                                Deduction    Surrender        For         Return
    End of        Surrender     For Surr       Admin       Admin Fee         n
     Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                 <C>         <C>            <C>         <C>             <C>
     1999           (57.71)     1,224.81       (0.37)      1,224.44        22.44%
     1998           (73.64)     1,562.88       (0.37)      1,562.51        25.00%
     1997           (71.90)     1,525.77       (0.37)      1,525.40        15.11%
    Incep           (82.00)     1,740.22       (0.37)      1,739.85        17.58%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                               Accum                     For          Units
                               Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
    End of        Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr          Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>          <C>            <C>       <C>            <C>        <C>           <C>          <C>            <C>
     1999       1.421594       703.436      1999      1.421594       0.000        703.436     1.823897     1,282.99
     1998       1.113763       897.857      1998      1.113763       0.000        897.857     1.823897     1,637.60
     1997       1.140407       876.880      1997      1.140407       0.000        876.880     1.823897     1,599.34
    Incep       1.000000     1,000.000      N/A       0.000000       0.000      1,000.000     1.823897     1,823.90

<CAPTION>
--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                 <C>          <C>             <C>        <C>             <C>
     1999                        1,282.99        0.00       1,282.99        28.30%
     1998                        1,637.60        0.00       1,637.60        27.97%
     1997                        1,599.34        0.00       1,599.34        16.94%
    Incep                        1,823.90        0.00       1,823.90        19.23%




<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           AMERICAN CENTURY VALUE FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum       Charge
     Qtr           Value      For $1,000      Fee           (0.47)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>           <C>       <C>            <C>         <C>         <C>           <C>          <C>
     1999         1.274323       784.730     1999      1.274323       (0.369)     784.361     1.298809      1,018.74       7%
     1998         1.151502       868.431     1998      1.151502       (0.408)     867.654     1.298809      1,126.92       6%
     1997         1.237702       807.949     1997      1.237702       (0.380)     806.792     1.298809      1,047.87     90%*5%
    Incept        1.000000     1,000.000     N/A       0.000000        0.000      998.843     1.298809      1,297.31     90%*4%

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction     Surrender       For         Return
    End of          Surrender      For Surr       Admin      Admin Fee         n
     Qtr             Charge         Charge         Fee         (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                  <C>          <C>            <C>        <C>             <C>
     1999            (71.31)        947.43       (0.47)       946.96        -5.30%
     1998            (67.62)      1,059.30       (0.47)     1,058.83         2.90%
     1997            (47.15)      1,000.72       (0.47)     1,000.25         0.01%
    Incept           (46.70)      1,250.61       (0.47)     1,250.14         6.75%
</TABLE>



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum       Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>            <C>      <C>             <C>       <C>          <C>            <C>            <C>
     1999        1.274323       784.730      1999     1.274323        0.000       784.730    1.298809       1,019.21
     1998        1.151502       868.431      1998     1.151502        0.000       868.431    1.298809       1,127.93
     1997        1.237702       807.949      1997     1.237702        0.000       807.949    1.298809       1,049.37
    Incept       1.000000     1,000.000      N/A      0.000000        0.000     1,000.000    1.298809       1,298.81

<CAPTION>
--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction     Surrender       For         Return
    End of         Surrender      For Surr       Admin      Admin Fee         n
     Qtr            Charge         Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>          <C>            <C>        <C>             <C>
     1999                         1,019.21       0.00       1,019.21        1.92%
     1998                         1,127.93       0.00       1,127.93        6.20%
     1997                         1,049.37       0.00       1,049.37        1.62%
    Incept                        1,298.81       0.00       1,298.81        7.95%
</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           AMERICAN CENTURY VALUE FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245





<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum       Charge
     Qtr           Value      For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>           <C>      <C>             <C>         <C>         <C>           <C>          <C>
     1999         1.274323       784.730     1999     1.274323        (0.471)     784.259     1.298809      1,018.60     90% * 8%
     1998         1.151502       868.431     1998     1.151502        (0.521)     867.439     1.298809      1,126.64     90% * 7%
     1997         1.237702       807.949     1997     1.237702        (0.485)     806.472     1.298809      1,047.45     90% * 6%
    Incep         1.000000     1,000.000     N/A      0.000000         0.000      998.523     1.298809      1,296.89     90% * 5%

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction     Surrender       For         Return
    End of          Surrender      For Surr       Admin      Admin Fee         n
     Qtr             Charge         Charge         Fee         (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                   <C>          <C>         <C>           <C>             <C>
     1999             (73.34)        945.26      (0.60)        944.66        -5.53%
     1998             (70.98)      1,055.66      (0.60)      1,055.06         2.72%
     1997             (56.56)        990.89      (0.60)        990.29        -0.32%
    Incep             (58.36)      1,238.53      (0.60)      1,237.93         6.44%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum       Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>            <C>      <C>             <C>       <C>           <C>          <C>            <C>
     1999        1.274323       784.730      1999     1.274323        0.000       784.730     1.298809     1,019.21
     1998        1.151502       868.431      1998     1.151502        0.000       868.431     1.298809     1,127.93
     1997        1.237702       807.949      1997     1.237702        0.000       807.949     1.298809     1,049.37
    Incep        1.000000     1,000.000      N/A      0.000000        0.000     1,000.000     1.298809     1,298.81

<CAPTION>
--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction     Surrender       For         Return
    End of         Surrender      For Surr       Admin      Admin Fee         n
     Qtr            Charge         Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>          <C>             <C>       <C>             <C>
     1999                         1,019.21        0.00      1,019.21        1.92%
     1998                         1,127.93        0.00      1,127.93        6.20%
     1997                         1,049.37        0.00      1,049.37        1.62%
    Incep                         1,298.81        0.00      1,298.81        7.95%
</TABLE>





<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           AMERICAN CENTURY VALUE FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum       Charge
     Qtr           Value      For $1,000      Fee           (0.37)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>            <C>       <C>             <C>        <C>         <C>           <C>          <C>
     1998        1.274323       784.730      1998      1.274323        (0.290)    784.440     1.298809      1,018.84     90% * 5%
     1997        1.151502       868.431      1997      1.151502        (0.321)    867.819     1.298809      1,127.13     90% * 5%
     1997        1.237702       807.949      1997      1.237702        (0.299)    807.038     1.298809      1,048.19     90% * 5%
    Incep        1.000000     1,000.000      N/A       0.000000         0.000     999.089     1.298809      1,297.63     90% * 5%

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction     Surrender       For         Return
    End of          Surrender      For Surr       Admin      Admin Fee         n
     Qtr             Charge         Charge         Fee         (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                   <C>          <C>           <C>        <C>             <C>
     1998             (45.85)        972.99      (0.37)       972.62        -2.73%
     1997             (50.72)      1,076.41      (0.37)     1,076.04         7.60%
     1997             (47.17)      1,001.02      (0.37)     1,000.65         0.02%
    Incep             (58.39)      1,239.24      (0.37)     1,238.87         6.46%
</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum       Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>            <C>      <C>             <C>       <C>           <C>          <C>            <C>
     1998        1.274323       784.730      1998     1.274323        0.000       784.730     1.298809     1,019.21
     1997        1.151502       868.431      1997     1.151502        0.000       868.431     1.298809     1,127.93
     1997        1.237702       807.949      1997     1.237702        0.000       807.949     1.298809     1,049.37
    Incep        1.000000     1,000.000      N/A      0.000000        0.000     1,000.000     1.298809     1,298.81

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction     Surrender       For         Return
    End of          Surrender      For Surr       Admin      Admin Fee         n
     Qtr             Charge         Charge         Fee         (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                   <C>          <C>             <C>      <C>             <C>
     1998                          1,019.21        0.00     1,019.21         1.92%
     1997                          1,127.93        0.00     1,127.93         6.20%
     1997                          1,049.37        0.00     1,049.37         1.62%
    Incep                          1,298.81        0.00     1,298.81         7.95%
</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                     AMERICAN CENTURY INCOME AND GROWTH FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------

                                                                Unit Value         Accum
                                   Accum                            For            Units
                                   Units          Year of         Annual        (Deducted)         Total
    End of          Unit         Purchased         Admin         Admin Fee      For Annual         Accum      09/30/2000
     Qtr            Value        For $1,000         Fee           (0.47)         Admin Fee         Units        Unit Value
------------------------------------------------------------------------------------------------------------------------------
<S>                <C>           <C>              <C>           <C>               <C>          <C>             <C>
     1999          1.116681        895.511        1999          1.116681          (0.421)        895.090       1.209975
     1998          0.893704      1,118.939        1998          0.893704          (0.526)      1,117.992       1.209975
    Incept         1.000000      1,000.000         N/A          1.000000           0.000         999.053       1.209975

<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Total Accum       Average
                                                                   Total Accum                    Value After       Annual
                                                                   Value After        Full         Deduction         Total
                      Total         Surrender                       Deduction      Surrender          For           Return
    End of            Accum          Charge         Surrender       For Surr         Admin         Admin Fee           n
     Qtr              Value           Calc           Charge          Charge           Fee            (ERV)       P(1+T) = ERV
--------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>             <C>              <C>            <C>              <C>           <C>               <C>
     1999           1,083.04          7%             (75.81)        1,007.23         (0.47)        1,006.76           0.68%
     1998           1,352.74          6%             (81.16)        1,271.58         (0.47)        1,271.11          12.74%
    Incept          1,208.83        90%*5%           (54.40)        1,154.43         (0.47)        1,153.96           6.10%
</TABLE>



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
----------------------------------------------------------------------------------------------------------------------------

                                                                Unit Value         Accum
                                   Accum                            For            Units
                                   Units          Year of         Annual        (Deducted)         Total
    End of          Unit         Purchased         Admin         Admin Fee      For Annual         Accum      09/30/2000
     Qtr            Value        For $1,000         Fee            0.00          Admin Fee         Units        Unit Value
----------------------------------------------------------------------------------------------------------------------------
<S>                <C>           <C>               <C>           <C>               <C>         <C>             <C>
     1999          1.116681        895.511         1999          1.116681          0.000         895.511       1.209975
     1998          0.893704      1,118.939         1998          0.893704          0.000       1,118.939       1.209975
    Incept         1.000000      1,000.000          N/A          1.000000          0.000       1,000.000       1.209975

<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                    Total Accum       Average
                                                                     Total Accum                    Value After       Annual
                                                                     Value After        Full         Deduction         Total
                        Total         Surrender                       Deduction      Surrender          For           Return
    End of              Accum          Charge         Surrender       For Surr         Admin         Admin Fee           n
     Qtr                Value           Calc           Charge          Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>               <C>             <C>            <C>               <C>         <C>                <C>
     1999            1,083.55                                         1,083.55          0.00        1,083.55           8.35%
     1998            1,353.89                                         1,353.89          0.00        1,353.89          16.36%
    Incept           1,209.98                                         1,209.98          0.00        1,209.98           8.21%
</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                     AMERICAN CENTURY INCOME AND GROWTH FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------

                                                                Unit Value         Accum
                                   Accum                            For            Units
                                   Units          Year of         Annual        (Deducted)         Total
    End of          Unit         Purchased         Admin         Admin Fee      For Annual         Accum      09/30/2000
     Qtr            Value        For $1,000         Fee           (0.60)         Admin Fee         Units        Unit Value
-----------------------------------------------------------------------------------------------------------------------------
<S>               <C>           <C>               <C>           <C>               <C>          <C>             <C>
     1999         1.116681        895.511         1999          1.116681          (0.537)        894.974       1.209975
     1998         0.893704      1,118.939         1998          0.893704          (0.671)      1,117.730       1.209975
    Incep         1.000000      1,000.000          N/A          0.000000           0.000         998.791       1.209975

<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                                                                                   Total Accum       Average
                                                                    Total Accum                    Value After       Annual
                                                                    Value After        Full         Deduction         Total
                       Total         Surrender                       Deduction      Surrender          For           Return
    End of             Accum          Charge         Surrender       For Surr         Admin         Admin Fee           n
     Qtr               Value           Calc           Charge          Charge           Fee            (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>              <C>              <C>           <C>               <C>          <C>               <C>
     1999           1,082.90         90% * 8%         (77.97)       1,004.93          (0.60)       1,004.33            .43%
     1998           1,352.43         90% * 7%         (85.20)       1,267.23          (0.60)       1,266.63          12.54%
    Incep           1,208.51         90% * 6%         (65.26)       1,143.25          (0.60)       1,142.65           5.67%
</TABLE>



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------

                                                                Unit Value         Accum
                                   Accum                            For            Units
                                   Units          Year of         Annual        (Deducted)         Total
    End of          Unit         Purchased         Admin         Admin Fee      For Annual         Accum      09/30/2000
     Qtr            Value        For $1,000         Fee            0.00          Admin Fee         Units        Unit Value
------------------------------------------------------------------------------------------------------------------------------
<S>                <C>           <C>              <C>            <C>              <C>          <C>             <C>
     1999          1.116681        895.511        1999           1.116681         0.000          895.511       1.209975
     1998          0.893704      1,118.939        1998           0.893704         0.000        1,118.939       1.209975
    Incep          1.000000      1,000.000         N/A           0.000000         0.000        1,000.000       1.209975

<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Total Accum       Average
                                                                   Total Accum                    Value After       Annual
                                                                   Value After        Full         Deduction         Total
                      Total         Surrender                       Deduction      Surrender          For           Return
    End of            Accum          Charge         Surrender       For Surr         Admin         Admin Fee           n
     Qtr              Value           Calc           Charge          Charge           Fee            (ERV)       P(1+T) = ERV
--------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>              <C>             <C>            <C>               <C>          <C>               <C>
     1999           1,083.55                                        1,083.55          0.00         1,083.55           8.35%
     1998           1,353.89                                        1,353.89          0.00         1,353.89          16.36%
    Incep           1,209.98                                        1,209.98          0.00         1,209.98           8.21%
</TABLE>



<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                     AMERICAN CENTURY INCOME AND GROWTH FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
----------------------------------------------------------------------------------------------------------------------------

                                                                Unit Value         Accum
                                   Accum                            For            Units
                                   Units          Year of         Annual        (Deducted)         Total
    End of          Unit         Purchased         Admin         Admin Fee      For Annual         Accum      09/30/2000
     Qtr            Value        For $1,000         Fee           (0.37)         Admin Fee         Units        Unit Value
----------------------------------------------------------------------------------------------------------------------------
<S>               <C>           <C>                <C>           <C>             <C>           <C>              <C>
     1999         1.116681        895.511          1998          1.116681        (0.331)         895.180        1.209975
     1998         0.893704      1,118.939           N/A          0.893704        (0.414)       1,118.525        1.209975
    Incep         1.000000      1,000.000           N/A          0.000000         0.000          999.255        1.209975

<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                    Total Accum       Average
                                                                     Total Accum                    Value After       Annual
                                                                     Value After        Full         Deduction         Total
                        Total         Surrender                       Deduction      Surrender          For           Return
    End of              Accum          Charge         Surrender       For Surr         Admin         Admin Fee           n
     Qtr                Value           Calc           Charge          Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------------------------------------------
<S>                   <C>             <C>              <C>            <C>              <C>           <C>               <C>
     1999             1,083.15        90% * 5%         (48.74)        1,034.41         (0.37)        1,034.04           3.41%
     1998             1,353.39        90% * 5%         (60.90)        1,292.49         (0.37)        1,292.12          13.67%
    Incep             1,209.07        90% * 5%         (54.41)        1,154.66         (0.37)        1,154.29           6.11%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------

                                                                Unit Value         Accum
                                   Accum                            For            Units
                                   Units          Year of         Annual        (Deducted)         Total
    End of          Unit         Purchased         Admin         Admin Fee      For Annual         Accum      09/30/2000
     Qtr            Value        For $1,000         Fee            0.00          Admin Fee         Units        Unit Value
------------------------------------------------------------------------------------------------------------------------------
<S>                <C>           <C>              <C>           <C>                <C>           <C>           <C>
     1999          1.116681        895.511        1998          1.116681           0.000           895.511     1.209975
     1998          0.893704      1,118.939         N/A          0.893704           0.000         1,118.939     1.209975
    Incep          1.000000      1,000.000         N/A          0.000000           0.000         1,000.000     1.209975

<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                                                                                                   Total Accum       Average
                                                                    Total Accum                    Value After       Annual
                                                                    Value After        Full         Deduction         Total
                       Total         Surrender                       Deduction      Surrender          For           Return
    End of             Accum          Charge         Surrender       For Surr         Admin         Admin Fee           n
     Qtr               Value           Calc           Charge          Charge           Fee            (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------------------------------------------------
<S>                   <C>             <C>             <C>           <C>                <C>         <C>               <C>
     1999             1,083.55                                      1,083.55           0.00        1,083.55           8.35%
     1998             1,353.89                                      1,353.89           0.00        1,353.89          16.36%
    Incep             1,209.98                                      1,209.98           0.00        1,209.98           8.21%
</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             BERGER IPT GROWTH FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr           Value      For $1,000      Fee       (0.47)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>          <C>         <C>          <C>          <C>
          1999    1.362068       734.178       1999    1.362068       (0.345)      733.833     2.165168     1,588.87        7%
          1998    1.010393       989.714       1998    1.010393       (0.465)      988.904     2.165168     2,141.14        6%
          1997    1.196180       835.995       1997    1.196180       (0.393)      834.792     2.165168     1,807.46     90% * 5%
    Incep         1.000000     1,000.000    N/A        0.000000        0.000       998.797     2.165168     2,162.56     90% * 4%

<CAPTION>
-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
    End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                    <C>          <C>           <C>          <C>             <C>
          1999         (111.22)     1,477.65      (0.47)       1,477.18        47.72%
          1998         (128.47)     2,012.67      (0.47)       2,012.20        41.85%
          1997          (81.34)     1,726.12      (0.47)       1,725.65        19.95%
    Incep               (77.85)     2,084.71      (0.47)       2,084.24        23.96%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr           Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>        <C>           <C>           <C>          <C>
          1999    1.362068       734.178       1999    1.362068       0.000        734.178     2.165168      1,589.62
          1998    1.010393       989.714       1998    1.010393       0.000        989.714     2.165168      2,142.90
          1997    1.196180       835.995       1997    1.196180       0.000        835.995     2.165168      1,810.07
    Incep         1.000000     1,000.000    N/A        0.000000       0.000      1,000.000     2.165168      2,165.17

<CAPTION>
-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
    End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                     <C>         <C>            <C>         <C>             <C>
          1999                      1,589.62       0.00        1,589.62        58.96%
          1998                      2,142.90       0.00        2,142.90        46.39%
          1997                      1,810.07       0.00        1,810.07        21.87%
    Incep                           2,165.17       0.00        2,165.17        25.37%
</TABLE>






<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             BERGER IPT GROWTH FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr           Value      For $1,000      Fee       (0.60)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>          <C>         <C>           <C>           <C>         <C>          <C>          <C>
          1999   1.362068       734.178        1999    1.362068      (0.441)       733.737     2.165168     1,588.66     90% * 8%
          1998   1.010393       989.714        1998    1.010393      (0.594)       988.680     2.165168     2,140.66     90% * 7%
          1997   1.196180       835.995        1997    1.196180      (0.502)       834.459     2.165168     1,806.74     90% * 6%
    Incep        1.000000     1,000.000     N/A        0.000000       0.000        998.464     2.165168      2161.84     90% * 5%

<CAPTION>
----------------------------------------------------------------------------------------
                                                            Total Accum      Average
                                  Total Accum               Value After      Annual
                                  Value After     Full       Deduction        Total
                                   Deduction    Surrender       For          Return
    End of           Surrender     For Surr       Admin      Admin Fee          n
     Qtr              Charge        Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                   <C>          <C>           <C>         <C>             <C>
          1999        (114.38)     1,474.28      (0.60)      1,473.68        47.37%
          1998        (134.86)     2,005.80      (0.60)      2,005.20        41.61%
          1997         (97.56)     1,709.18      (0.60)      1,708.58        19.55%
    Incep              (97.28)     2,064.56      (0.60)      2,063.96        23.60%
</TABLE>


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr           Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>           <C>        <C>            <C>        <C>           <C>          <C>           <C>
          1999   1.362068       734.178        1999    1.362068       0.000        734.178     2.165168     1,589.62
          1998   1.010393       989.714        1998    1.010393       0.000        989.714     2.165168     2,142.90
          1997   1.196180       835.995        1997    1.196180       0.000        835.995     2.165168     1,810.07
    Incep        1.000000     1,000.000     N/A        0.000000       0.000      1,000.000     2.165168      2165.17

<CAPTION>
----------------------------------------------------------------------------------------
                                                            Total Accum      Average
                                  Total Accum               Value After      Annual
                                  Value After     Full       Deduction        Total
                                   Deduction    Surrender       For          Return
    End of           Surrender     For Surr       Admin      Admin Fee          n
     Qtr              Charge        Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                  <C>           <C>             <C>        <C>             <C>
          1999                     1,589.62        0.00       1,589.62        58.96%
          1998                     2,142.90        0.00       2,142.90        46.39%
          1997                     1,810.07        0.00       1,810.07        21.87%
    Incep                          2,165.17        0.00       2,165.17        25.37%
</TABLE>



<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             BERGER IPT GROWTH FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr           Value      For $1,000      Fee       (0.37)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>          <C>         <C>         <C>          <C>
          1999    1.362068       734.178       1999    1.362068       (0.272)      733.906     2.165168    1,589.03     90% * 5%
          1998    1.010393       989.714       1998    1.010393       (0.366)      989.076     2.165168    2,141.52     90% * 5%
          1997    1.196180       835.995       1997    1.196180       (0.309)      835.048     2.165168    1,808.02     90% * 5%
    Incep         1.000000     1,000.000    N/A        0.000000        0.000       999.053     2.165168     2163.12     90% * 5%

<CAPTION>
-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
    End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                    <C>          <C>            <C>         <C>             <C>
          1999         (71.51)      1,517.52       (0.37)      1,517.15        51.72%
          1998         (96.37)      2,045.15       (0.37)      2,044.78        43.00%
          1997         (81.36)      1,726.66       (0.37)      1,726.29        19.96%
    Incep              (97.34)      2,065.78       (0.37)      2,065.41        23.63%
</TABLE>



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr           Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>           <C>        <C>             <C>       <C>           <C>          <C>            <C>
          1999   1.362068       734.178        1999    1.362068        0.000       734.178     2.165168     1,589.62
          1998   1.010393       989.714        1998    1.010393        0.000       989.714     2.165168     2,142.90
          1997   1.196180       835.995        1997    1.196180        0.000       835.995     2.165168     1,810.07
    Incep        1.000000     1,000.000     N/A        0.000000        0.000     1,000.000     2.165168      2165.17

<CAPTION>
----------------------------------------------------------------------------------------
                                                            Total Accum      Average
                                  Total Accum               Value After      Annual
                                  Value After     Full       Deduction        Total
                                   Deduction    Surrender       For          Return
    End of           Surrender     For Surr       Admin      Admin Fee          n
     Qtr              Charge        Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                    <C>         <C>             <C>        <C>             <C>
          1999                     1,589.62        0.00       1,589.62        58.96%
          1998                     2,142.90        0.00       2,142.90        46.39%
          1997                     1,810.07        0.00       1,810.07        21.87%
    Incep                          2,165.17        0.00       2,165.17        25.37%
</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         BERGER IPT GROWTH & INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                Accum                    For           Units
                                Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual      Accum   09/30/2000        Accum       Charge
     Qtr          Value      For $1,000      Fee            (0.47)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>          <C>          <C>            <C>          <C>        <C>           <C>          <C>
          1999   1.705261      586.420       1998      1.705261       (0.276)      586.144    2.598427      1,523.05        7%
          1998   1.256547      795.832       1998      1.256547       (0.374)      795.182    2.598427      2,066.22        6%
          1997   1.238018      807.743       1997      1.238018       (0.380)      806.714    2.598427      2,096.19     90% * 5%
    Incept       1.000000    1,000.000    N/A          0.000000        0.000       998.971    2.598427      2,595.75     90% * 4%

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                  <C>          <C>             <C>        <C>             <C>
          1999       (106.61)     1,416.44        (0.47)     1,415.97        41.60%
          1998       (123.97)     1,942.25        (0.47)     1,941.78        39.35%
          1997        (94.33)     2,001.86        (0.47)     2,001.39        26.02%
    Incept            (93.45)     2,502.30        (0.47)     2,501.83        30.75%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                Accum                    For           Units
                                Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual      Accum   09/30/2000        Accum       Charge
     Qtr          Value      For $1,000      Fee             0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>          <C>         <C>              <C>       <C>          <C>           <C>           <C>
          1999   1.705261      586.420       1998     1.705261         0.000       586.420    2.598427      1,523.77
          1998   1.256547      795.832       1998     1.256547         0.000       795.832    2.598427      2,067.91
          1997   1.238018      807.743       1997     1.238018         0.000       807.743    2.598427      2,098.86
    Incept       1.000000    1,000.000    N/A         0.000000         0.000     1,000.000    2.598427      2,598.43

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                  <C>          <C>             <C>        <C>             <C>
          1999                    1,523.77        0.00       1,523.77        52.38%
          1998                    2,067.91        0.00       2,067.91        43.80%
          1997                    2,098.86        0.00       2,098.86        28.03%
    Incept                        2,598.43        0.00       2,598.43        32.25%
</TABLE>



<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         BERGER IPT GROWTH & INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                Accum                    For           Units
                                Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual      Accum   09/30/2000        Accum       Charge
     Qtr          Value      For $1,000      Fee            (0.60)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>          <C>         <C>            <C>          <C>        <C>           <C>          <C>
          1999   1.705261       586.420       1998     1.705261       (0.352)      586.068    2.598427      1,522.86     90% * 8%
          1998   1.256547       795.832       1998     1.256547       (0.477)      795.003    2.598427      2,065.76     90% * 7%
          1997   1.238018       807.743       1997     1.238018       (0.485)      806.429    2.598427      2,095.45     90% * 6%
    Incep        1.000000     1,000.000    N/A         0.000000        0.000       998.686    2.598427      2,595.01     90% * 5%

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                  <C>          <C>            <C>         <C>            <C>
          1999       (109.65)     1,413.21       (0.60)      1,412.61       41.27%
          1998       (130.14)     1,935.62       (0.60)      1,935.02       39.10%
          1997       (113.15)     1,982.30       (0.60)      1,981.70       25.61%
    Incep            (116.78)     2,478.23       (0.60)      2,477.63       30.38%
</TABLE>


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                Accum                    For           Units
                                Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual      Accum   09/30/2000        Accum       Charge
     Qtr          Value      For $1,000      Fee             0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>           <C>         <C>            <C>       <C>           <C>           <C>           <C>
          1999   1.705261      586.420        1998     1.705261       0.000       586.420     2.598427      1,523.77
          1998   1.256547      795.832        1998     1.256547       0.000       795.832     2.598427      2,067.91
          1997   1.238018      807.743        1997     1.238018       0.000       807.743     2.598427      2,098.86
    Incep        1.000000    1,000.000     N/A         0.000000       0.000     1,000.000     2.598427      2,598.43

<CAPTION>
--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>        <C>              <C>       <C>             <C>
          1999                  1,523.77         0.00      1,523.77        52.38%
          1998                  2,067.91         0.00      2,067.91        43.80%
          1997                  2,098.86         0.00      2,098.86        28.03%
    Incep                       2,598.43         0.00      2,598.43        32.25%
</TABLE>



<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         BERGER IPT GROWTH & INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                Accum                    For           Units
                                Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual      Accum   09/30/2000        Accum       Charge
     Qtr          Value      For $1,000      Fee            (0.37)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>         <C>           <C>         <C>            <C>          <C>        <C>           <C>          <C>
          1999   1.705261      586.420        1999     1.705261       (0.217)      586.203    2.598427      1,523.21     90% * 5%
          1998   1.256547      795.832        1998     1.256547       (0.294)      795.321    2.598427      2,066.58     90% * 5%
          1997   1.238018      807.743        1997     1.238018       (0.299)      806.933    2.598427      2,096.76     90% * 5%
    Incep        1.000000    1,000.000     N/A         0.000000        0.000       999.190    2.598427      2,596.32     90% * 5%

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                 <C>          <C>             <C>        <C>             <C>
          1999       (68.54)     1,454.67        (0.37)     1,454.30        45.43%
          1998       (93.00)     1,973.58        (0.37)     1,973.21        40.47%
          1997       (94.35)     2,002.41        (0.37)     2,002.04        26.03%
    Incep           (116.83)     2,479.49        (0.37)     2,479.12        30.40%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                Accum                    For           Units
                                Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual      Accum   09/30/2000        Accum       Charge
     Qtr          Value      For $1,000      Fee             0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>          <C>         <C>            <C>        <C>           <C>          <C>           <C>
          1999   1.705261       586.420       1999     1.705261       0.000        586.420     2.598427     1,523.77
          1998   1.256547       795.832       1998     1.256547       0.000        795.832     2.598427     2,067.91
          1997   1.238018       807.743       1997     1.238018       0.000        807.743     2.598427     2,098.86
    Incep        1.000000     1,000.000    N/A         0.000000       0.000      1,000.000     2.598427     2,598.43

<CAPTION>
---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                   <C>         <C>             <C>       <C>             <C>
          1999                    1,523.77        0.00      1,523.77        52.38%
          1998                    2,067.91        0.00      2,067.91        43.80%
          1997                    2,098.86        0.00      2,098.86        28.03%
    Incep                         2,598.43        0.00      2,598.43        32.25%
</TABLE>




<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          BERGER IPT SMALL COMPANY FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                       Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/2000       Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.47)   Admin Fee      Units      Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>         <C>           <C>        <C>            <C>          <C>          <C>           <C>         <C>
          1999    1.695532       589.785       1998    1.695532       (0.277)      589.508      3.033604      1,788.33       7%
          1998    1.126141       887.988       1998    1.126141       (0.417)      887.293      3.033604      2,691.70       6%
          1997    1.413848       707.290       1997    1.413848       (0.332)      706.263      3.033604      2,142.52    90% * 5%
    Incep         1.000000     1,000.000    N/A        0.000000        0.000       998.973      3.033604      3,030.49    90% * 4%

<CAPTION>
------------------------------------------------------------------------------------------
                                                              Total Accum      Average
                                    Total Accum               Value After      Annual
                                    Value After     Full       Deduction        Total
                                     Deduction    Surrender       For          Return
    End of             Surrender     For Surr       Admin      Admin Fee          n
     Qtr                Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                     <C>          <C>           <C>          <C>             <C>
          1999          (125.18)     1,663.15      (0.47)       1,662.68        66.26%
          1998          (161.50)     2,530.20      (0.47)       2,529.73        59.05%
          1997           (96.41)     2,046.11      (0.47)       2,045.64        26.95%
    Incep               (109.10)     2,921.39      (0.47)       2,920.92        36.81%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                       Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/2000       Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>             <C>       <C>            <C>           <C>           <C>
          1999    1.695532       589.785       1998    1.695532        0.000       589.785      3.033604      1,789.17
          1998    1.126141       887.988       1998    1.126141        0.000       887.988      3.033604      2,693.80
          1997    1.413848       707.290       1997    1.413848        0.000       707.290      3.033604      2,145.64
    Incep         1.000000     1,000.000    N/A        0.000000        0.000     1,000.000      3.033604      3,033.60

<CAPTION>
-------------------------------------------------------------------------------------------
                                                               Total Accum      Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction        Total
                                      Deduction    Surrender       For          Return
    End of              Surrender     For Surr       Admin      Admin Fee          n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                       <C>         <C>            <C>        <C>             <C>
          1999                        1,789.17       0.00       1,789.17        78.92%
          1998                        2,693.80       0.00       2,693.80        64.13%
          1997                        2,145.64       0.00       2,145.64        28.98%
    Incep                             3,033.60       0.00       3,033.60        38.38%
</TABLE>




<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          BERGER IPT SMALL COMPANY FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                       Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000         Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.60)   Admin Fee      Units      Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>          <C>          <C>           <C>          <C>
          1999    1.695532       589.785       1998    1.695532       (0.354)      589.431      3.033604      1,788.10     90% * 8%
          1998    1.126141       887.988       1998    1.126141       (0.533)      887.101      3.033604      2,691.11     90% * 7%
          1997    1.413848       707.290       1997    1.413848       (0.424)      705.979      3.033604      2,141.66     90% * 6%
    Incep         1.000000     1,000.000    N/A            0.00        0.000       998.689      3.033604       3029.63     90% * 5%

<CAPTION>
------------------------------------------------------------------------------------------
                                                              Total Accum      Average
                                    Total Accum               Value After      Annual
                                    Value After     Full       Deduction        Total
                                     Deduction    Surrender       For          Return
    End of             Surrender     For Surr       Admin      Admin Fee          n
     Qtr                Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                    <C>           <C>            <C>         <C>             <C>
          1999         (128.74)      1,659.36       (0.60)      1,658.76        65.87%
          1998         (169.54)      2,521.57       (0.60)      2,520.97        58.78%
          1997         (115.65)      2,026.01       (0.60)      2,025.41        26.53%
    Incep              (136.33)      2,893.30       (0.60)      2,892.70        36.42%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                       Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000         Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>        <C>           <C>            <C>           <C>
          1999    1.695532       589.785       1998    1.695532       0.000        589.785     3.033604       1,789.17
          1998    1.126141       887.988       1998    1.126141       0.000        887.988     3.033604       2,693.80
          1997    1.413848       707.290       1997    1.413848       0.000        707.290     3.033604       2,145.64
    Incep         1.000000     1,000.000    N/A            0.00       0.000      1,000.000     3.033604         3033.6

<CAPTION>
-------------------------------------------------------------------------------------------
                                                               Total Accum      Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction        Total
                                      Deduction    Surrender       For          Return
    End of              Surrender     For Surr       Admin      Admin Fee          n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                       <C>         <C>             <C>        <C>             <C>
          1999                        1,789.17        0.00       1,789.17        78.92%
          1998                        2,693.80        0.00       2,693.80        64.13%
          1997                        2,145.64        0.00       2,145.64        28.98%
    Incep                             3,033.60        0.00       3,033.60        38.38%
</TABLE>




<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          BERGER IPT SMALL COMPANY FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                       Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000         Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.37)   Admin Fee      Units      Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>          <C>        <C>              <C>         <C>
          1999    1.695532       589.785       1998    1.695532       (0.218)      589.567    3.033604         1,788.51    90% * 5%
          1998    1.126141       887.988       1998    1.126141       (0.329)      887.441    3.033604         2,692.15    90% * 5%
          1997    1.413848       707.290       1997    1.413848       (0.262)      706.482    3.033604         2,143.19    90% * 5%
    Incep            1.000     1,000.000    N/A        0.000000        0.000       999.192    3.033604         3,031.15    90% * 5%

<CAPTION>
-------------------------------------------------------------------------------------------
                                                               Total Accum      Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction        Total
                                      Deduction    Surrender       For          Return
    End of              Surrender     For Surr       Admin      Admin Fee          n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                     <C>           <C>            <C>         <C>             <C>
          1999           (80.48)      1,708.03       (0.37)      1,707.66        70.76%
          1998          (121.15)      2,571.00       (0.37)      2,570.63        60.33%
          1997           (96.44)      2,046.75       (0.37)      2,046.38        26.96%
    Incep               (136.40)      2,894.75       (0.37)      2,894.38        36.46%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                       Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000         Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>             <C>       <C>           <C>            <C>            <C>
          1999    1.695532       589.785       1998    1.695532        0.000       589.785     3.033604       1,789.17
          1998    1.126141       887.988       1998    1.126141        0.000       887.988     3.033604       2,693.80
          1997    1.413848       707.290       1997    1.413848        0.000       707.290     3.033604       2,145.64
    Incep            1.000     1,000.000    N/A        0.000000        0.000     1,000.000     3.033604       3,033.60

<CAPTION>
-------------------------------------------------------------------------------------------
                                                               Total Accum      Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction        Total
                                      Deduction    Surrender       For          Return
    End of              Surrender     For Surr       Admin      Admin Fee          n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                       <C>         <C>             <C>        <C>             <C>
          1999                        1,789.17        0.00       1,789.17        78.92%
          1998                        2,693.80        0.00       2,693.80        64.13%
          1997                        2,145.64        0.00       2,145.64        28.98%
    Incep                             3,033.60        0.00       3,033.60        38.38%
</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          BERGER IPT BIAM INTERNATIONAL
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/2000      Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.47)   Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>          <C>        <C>             <C>        <C>           <C>           <C>           <C>
          1999   1.201849       832.051       1999    1.201849        (0.391)      831.660     1.307640      1,087.51         7%
          1998   0.935656     1,068.769       1998    0.935656        (0.502)    1,067.876     1.307640      1,396.40         6%
          1997   1.025720       974.925       1997    1.025720        (0.458)      973.573     1.307640      1,273.08      90% * 5%
    Incep        1.000000     1,000.000    N/A        0.000000         0.000       998.648     1.307640      1,305.87      90% * 4%

<CAPTION>
-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
    End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                    <C>          <C>           <C>          <C>             <C>
          1999         (76.13)      1,011.38      (0.47)       1,010.91         1.09%
          1998         (83.78)      1,312.62      (0.47)       1,312.15        14.55%
          1997         (57.29)      1,215.79      (0.47)       1,215.32         6.72%
    Incep              (47.01)      1,258.86      (0.47)       1,258.39         6.95%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/2000      Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>        <C>            <C>          <C>           <C>
          1999    1.201849       832.051       1999    1.201849       0.000        832.051      1.307640     1,088.02
          1998    0.935656     1,068.769       1998    0.935656       0.000      1,068.769      1.307640     1,397.57
          1997    1.025720       974.925       1997    1.025720       0.000        974.925      1.307640     1,274.85
    Incep         1.000000     1,000.000    N/A        0.000000       0.000      1,000.000      1.307640     1,307.64

<CAPTION>
-----------------------------------------------------------------------------------------
                                                              Total Accum      Average
                                    Total Accum               Value After      Annual
                                    Value After     Full       Deduction        Total
                                     Deduction    Surrender       For          Return
    End of             Surrender     For Surr       Admin      Admin Fee          n
     Qtr                Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                     <C>          <C>             <C>        <C>             <C>
          1999                       1,088.02        0.00       1,088.02         8.80%
          1998                       1,397.57        0.00       1,397.57        18.22%
          1997                       1,274.85        0.00       1,274.85         8.43%
    Incep                            1,307.64        0.00       1,307.64         8.17%
</TABLE>




<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          BERGER IPT BIAM INTERNATIONAL
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.60)   Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>        <C>           <C>           <C>          <C>
          1999    1.201849       832.051       1999    1.201849       (0.499)      831.552     1.307640      1,087.37     90% * 8%
          1998    0.935656     1,068.769       1998    0.935656       (0.641)    1,067.629     1.307640      1,396.07     90% * 7%
          1997    1.025720       974.925       1997    1.025720       (0.585)      973.200     1.307640      1,272.59     90% * 6%
    Incep         1.000000     1,000.000    N/A            0.00        0.000       998.275     1.307640      1,305.38     90% * 5%

<CAPTION>
-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
    End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                    <C>          <C>            <C>         <C>             <C>
          1999         (78.29)      1,009.08       (0.60)      1,008.48         0.85%
          1998         (87.95)      1,308.12       (0.60)      1,307.52        14.35%
          1997         (68.72)      1,203.87       (0.60)      1,203.27         6.37%
    Incep              (58.74)      1,246.64       (0.60)      1,246.04         6.65%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>           <C>        <C>           <C>         <C>          <C>            <C>           <C>
          1999   1.201849       832.051        1999    1.201849      0.000         832.051    1.307640       1,088.02
          1998   0.935656     1,068.769        1998    0.935656      0.000       1,068.769    1.307640       1,397.57
          1997   1.025720       974.925        1997    1.025720      0.000         974.925    1.307640       1,274.85
    Incep        1.000000     1,000.000     N/A            0.00      0.000       1,000.000    1.307640       1,307.64

<CAPTION>
-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
    End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                    <C>          <C>             <C>        <C>             <C>
          1999                      1,088.02        0.00       1,088.02         8.80%
          1998                      1,397.57        0.00       1,397.57        18.22%
          1997                      1,274.85        0.00       1,274.85         8.43%
    Incep                           1,307.64        0.00       1,307.64         8.17%
</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          BERGER IPT BIAM INTERNATIONAL
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.37)   Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>        <C>           <C>            <C>         <C>
          1999    1.201849       832.051       1999    1.201849       (0.308)      831.743     1.307640       1,087.62    90% * 5%
          1998    0.935656     1,068.769       1998    0.935656       (0.395)    1,068.066     1.307640       1,396.65    90% * 5%
          1997    1.025720       974.925       1997    1.025720       (0.361)      973.861     1.307640       1,273.46    90% * 5%
    Incep            1.000     1,000.000    N/A        0.000000        0.000       998.936     1.307640       1,306.25    90% * 5%

<CAPTION>
------------------------------------------------------------------------------------------
                                                              Total Accum      Average
                                    Total Accum               Value After      Annual
                                    Value After     Full       Deduction        Total
                                     Deduction    Surrender       For          Return
    End of             Surrender     For Surr       Admin      Admin Fee          n
     Qtr                Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                     <C>          <C>            <C>         <C>            <C>
          1999          (48.94)      1,038.68       (0.37)      1,038.31        3.83%
          1998          (62.85)      1,333.80       (0.37)      1,333.43       15.47%
          1997          (57.31)      1,216.15       (0.37)      1,215.78        6.73%
    Incep               (58.78)      1,247.47       (0.37)      1,247.10        6.67%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>            <C>        <C>          <C>            <C>           <C>
          1999    1.201849       832.051       1999    1.201849       0.000        832.051    1.307640       1,088.02
          1998    0.935656     1,068.769       1998    0.935656       0.000      1,068.769    1.307640       1,397.57
          1997    1.025720       974.925       1997    1.025720       0.000        974.925    1.307640       1,274.85
    Incep            1.000     1,000.000    N/A        0.000000       0.000      1,000.000    1.307640       1,307.64

<CAPTION>
------------------------------------------------------------------------------------------
                                                              Total Accum      Average
                                    Total Accum               Value After      Annual
                                    Value After     Full       Deduction        Total
                                     Deduction    Surrender       For          Return
    End of             Surrender     For Surr       Admin      Admin Fee          n
     Qtr                Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                     <C>          <C>            <C>         <C>             <C>
          1999                       1,088.02       0.00        1,088.02         8.80%
          1998                       1,397.57       0.00        1,397.57        18.22%
          1997                       1,274.85       0.00        1,274.85         8.43%
    Incep                            1,307.64       0.00        1,307.64         8.17%
</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            BERGER IPT New Generation
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/2000      Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.47)   Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>             <C>       <C>            <C>        <C>           <C>           <C>            <C>
    Incep        1.000000     1,000.000       N/A       0.000000       0.000      1,000.000     1.041599      1,041.60       7%

<CAPTION>
----------------------------------------------------------------------------------------
                                                            Total Accum      Average
                                  Total Accum               Value After      Annual
                                  Value After     Full       Deduction        Total
                                   Deduction    Surrender       For          Return
    End of           Surrender     For Surr       Admin      Admin Fee          n
     Qtr              Charge        Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                  <C>            <C>          <C>          <C>           <C>
    Incep            (72.91)        968.69       (0.47)       968.22        -3.18%
</TABLE>



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/2000      Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>           <C>            <C>       <C>            <C>         <C>          <C>           <C>           <C>
    Incep        1.000000      1,000.000      N/A       0.000000       0.000       1,000.000    1.041599      1,041.60

<CAPTION>
-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
    End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                     <C>         <C>            <C>        <C>              <C>
    Incep                           1,041.60       0.00       1,041.60         4.16%
</TABLE>


<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            BERGER IPT New Generation
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.60)   Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>            <C>         <C>          <C>        <C>          <C>            <C>         <C>
    Incep         1.000000     1,000.000      N/A         0.00         0.000      1,000.000    1.041599       1,041.60    90% * 8%

<CAPTION>
------------------------------------------------------------------------------------------
                                                              Total Accum      Average
                                    Total Accum               Value After      Annual
                                    Value After     Full       Deduction        Total
                                     Deduction    Surrender       For          Return
    End of             Surrender     For Surr       Admin      Admin Fee          n
     Qtr                Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                    <C>            <C>          <C>           <C>           <C>
    Incep              (75.00)        966.60       (0.60)        966.00        -3.40%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>              <C>          <C>             <C>         <C>          <C>        <C>          <C>            <C>          <C>
    Incep        1.000000     1,000.000       N/A         0.00         0.000      1,000.000    1.041599       1,041.60

<CAPTION>
----------------------------------------------------------------------------------------
                                                            Total Accum      Average
                                  Total Accum               Value After      Annual
                                  Value After     Full       Deduction        Total
                                   Deduction    Surrender       For          Return
    End of           Surrender     For Surr       Admin      Admin Fee          n
     Qtr              Charge        Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                  <C>           <C>            <C>        <C>              <C>
    Incep                          1,041.60       0.00       1,041.60         4.16%
</TABLE>


<PAGE>




                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            BERGER IPT New Generation
                           AVERAGE ANNUAL TOTAL RETURN
                                   12/31/1999


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.37)   Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>         <C>            <C>       <C>            <C>        <C>          <C>            <C>         <C>
    Incep          1.000       1,000.000      N/A       0.000000       0.000      1,000.000    1.041599       1,041.60    90% * 5%

<CAPTION>
-------------------------------------------------------------------------------------------
                                                               Total Accum      Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction        Total
                                      Deduction    Surrender       For          Return
    End of              Surrender     For Surr       Admin      Admin Fee          n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                      <C>           <C>          <C>           <C>           <C>
    Incep                (46.87)       994.73       (0.37)        994.36        -0.56%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000        Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>        <C>             <C>      <C>             <C>        <C>          <C>            <C>         <C>
    Incep          1.000      1,000.000       N/A      0.000000        0.000      1,000.000    1.041599       1,041.60

<CAPTION>
-------------------------------------------------------------------------------------------
                                                               Total Accum      Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction        Total
                                      Deduction    Surrender       For          Return
    End of              Surrender     For Surr       Admin      Admin Fee          n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                       <C>         <C>            <C>        <C>              <C>
    Incep                             1,041.60       0.00       1,041.60         4.16%
</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            DREYFUS STOCK INDEX FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value    Accum
                          Accum                    For        Units
                          Units      Year of      Annual    (Deducted)    Total                     Total      Surrender
 End of      Unit       Purchased     Admin     Admin Fee   For Annual    Accum       09/30/00      Accum       Charge     Surrender
   Qtr       Value     For $1,000      Fee          ($0.47) Admin Fee     Units      Unit Value     Value        Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>           <C>          <C>       <C>          <C>         <C>       <C>             <C>        <C>            <C>
  1999     2.452513      407.745      1999      2.452513     (0.192)     407.553   2.744356282     1,118.47      7%          (78.29)
  1998     1.945022      514.133      1998      1.945022     (0.242)     513.700      2.744356     1,409.78      6%          (84.59)
  1997     1.807226      553.334      1997      1.807226     (0.260)     552.641      2.744356     1,516.64   90% * 5%       (68.25)
  1996     1.303815      766.980      1996      1.303815     (0.360)     765.926      2.744356     2,101.97   90% * 4%       (75.67)
  1995     1.099102      909.834      1995      1.099102     (0.428)     908.353      2.744356     2,492.84   90% * 3%       (67.31)
  Incep           1    1,000.000      N/A              0      0.000      998.519      2.744356     2,740.29     NONE           0.00

<CAPTION>
-------------------------------------------------------------
                                     Total Accum   Average
              Total Accum            Value After   Annual
              Value After    Full     Deduction     Total
               Deduction   Surrender     For       Return
 End of         For Surr     Admin    Admin Fee       n
   Qtr           Charge       Fee       (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>             <C>         <C>       <C>          <C>
  1999          1,040.18    (0.47)    1,039.71      3.97%
  1998          1,325.19    (0.47)    1,324.72     15.10%
  1997          1,448.39    (0.47)    1,447.92     13.13%
  1996          2,026.30    (0.47)    2,025.83     19.30%
  1995          2,425.53    (0.47)    2,425.06     19.38%
  Incep         2,740.29    (0.47)    2,739.82     20.77%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value    Accum
                          Accum                    For        Units
                          Units      Year of      Annual    (Deducted)    Total                     Total      Surrender
 End of      Unit       Purchased     Admin     Admin Fee   For Annual    Accum       09/30/00      Accum       Charge     Surrender
   Qtr       Value     For $1,000      Fee           $0.00  Admin Fee     Units      Unit Value     Value        Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>           <C>       <C>           <C>      <C>         <C>            <C>          <C>           <C>
  1999     2.452513       407.745     1999      2.452513      0.000      407.745   2.744356282    1,119.00
  1998     1.945022       514.133     1998      1.945022      0.000      514.133      2.744356    1,410.96
  1997     1.807226       553.334     1997      1.807226      0.000      553.334      2.744356    1,518.55
  1996     1.303815       766.980     1996      1.303815      0.000      766.980      2.744356    2,104.87
  1995     1.099102       909.834     1995      1.099102      0.000      909.834      2.744356    2,496.91
  Incep           1     1,000.000     N/A              0      0.000    1,000.000      2.744356    2,744.36

<CAPTION>
-------------------------------------------------------------
                                     Total Accum   Average
              Total Accum            Value After   Annual
              Value After    Full     Deduction     Total
               Deduction   Surrender     For       Return
 End of         For Surr     Admin    Admin Fee       n
   Qtr           Charge       Fee       (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>             <C>           <C>     <C>           <C>
  1999          1,119.00      0.00    1,119.00      11.90%
  1998          1,410.96      0.00    1,410.96      18.78%
  1997          1,518.55      0.00    1,518.55      14.94%
  1996          2,104.87      0.00    2,104.87      20.45%
  1995          2,496.91      0.00    2,496.91      20.08%
  Incep         2,744.36      0.00    2,744.36      20.82%
</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            DREYFUS STOCK INDEX FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value    Accum
                          Accum                    For        Units
                          Units      Year of      Annual    (Deducted)    Total                     Total      Surrender
 End of      Unit       Purchased     Admin     Admin Fee   For Annual    Accum     09/30/00        Accum       Charge     Surrender
   Qtr       Value     For $1,000      Fee          ($0.60) Admin Fee     Units      Unit Value     Value        Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>         <C>            <C>       <C>          <C>         <C>       <C>             <C>         <C>          <C>
  1998     2.452513      407.745      1998      2.452513     (0.245)     407.500   2.744356282     1,118.33    90% * 8%     (80.52)
  1998     1.945022      514.133      1998      1.945022     (0.308)     513.580   2.744356282     1,409.45    90% * 7%     (88.80)
  1997     1.807226      553.334      1997      1.807226     (0.332)     552.449   2.744356282     1,516.12    90% * 6%     (81.87)
  1996     1.303815      766.980      1996      1.303815     (0.460)     765.635   2.744356282     2,101.17    90% * 5%     (94.55)
  1995     1.099102      909.834      1995      1.099102     (0.546)     907.943   2.744356282     2,491.72    90% * 4%     (89.70)
  Incep           1    1,000.000      N/A              0      0.000      998.109   2.744356282     2,739.17    90% * 3%     (73.96)

<CAPTION>
-------------------------------------------------------------
                                     Total Accum   Average
              Total Accum            Value After   Annual
              Value After    Full     Deduction     Total
               Deduction   Surrender     For       Return
 End of         For Surr     Admin    Admin Fee       n
   Qtr           Charge       Fee       (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>            <C>          <C>       <C>          <C>
  1998         1,037.81     (0.60)    1,037.21      3.73%
  1998         1,320.65     (0.60)    1,320.05     14.89%
  1997         1,434.25     (0.60)    1,433.65     12.76%
  1996         2,006.62     (0.60)    2,006.02     19.01%
  1995         2,402.02     (0.60)    2,401.42     19.15%
  Incep        2,665.21     (0.60)    2,664.61     20.14%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value    Accum
                          Accum                    For        Units
                          Units      Year of      Annual    (Deducted)    Total                     Total      Surrender
 End of      Unit       Purchased     Admin     Admin Fee   For Annual    Accum     09/30/00        Accum       Charge     Surrender
   Qtr       Value     For $1,000      Fee           $0.00  Admin Fee     Units      Unit Value     Value        Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>           <C>       <C>           <C>      <C>         <C>            <C>         <C>            <C>
  1998     2.452513       407.745     1998      2.452513      0.000      407.745   2.744356282    1,119.00
  1998     1.945022       514.133     1998      1.945022      0.000      514.133   2.744356282    1,410.96
  1997     1.807226       553.334     1997      1.807226      0.000      553.334   2.744356282    1,518.55
  1996     1.303815       766.980     1996      1.303815      0.000      766.980   2.744356282    2,104.87
  1995     1.099102       909.834     1995      1.099102      0.000      909.834   2.744356282    2,496.91
  Incep           1     1,000.000     N/A              0      0.000    1,000.000   2.744356282    2,744.36

<CAPTION>
-------------------------------------------------------------
                                     Total Accum   Average
              Total Accum            Value After   Annual
              Value After    Full     Deduction     Total
               Deduction   Surrender     For       Return
 End of         For Surr     Admin    Admin Fee       n
   Qtr           Charge       Fee       (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>            <C>           <C>     <C>           <C>
  1998         1,119.00      0.00    1,119.00      11.90%
  1998         1,410.96      0.00    1,410.96      18.78%
  1997         1,518.55      0.00    1,518.55      14.94%
  1996         2,104.87      0.00    2,104.87      20.45%
  1995         2,496.91      0.00    2,496.91      20.08%
  Incep        2,744.36      0.00    2,744.36      20.82%
</TABLE>





<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            DREYFUS STOCK INDEX FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value    Accum
                          Accum                    For        Units
                          Units      Year of      Annual    (Deducted)    Total                     Total      Surrender
 End of      Unit       Purchased     Admin     Admin Fee   For Annual    Accum     09/30/00        Accum       Charge     Surrender
   Qtr       Value     For $1,000      Fee          ($0.37) Admin Fee     Units      Unit Value     Value        Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>           <C>        <C>          <C>        <C>       <C>            <C>         <C>            <C>
  1998     2.452513       407.745     1998       2.452513     (0.151)    407.594   2.744356282    1,118.58    90% * 5%       (50.34)
  1998     1.945022       514.133     1998       1.945022     (0.190)    513.792   2.744356282    1,410.03    90% * 5%       (63.45)
  1997     1.807226       553.334     1997       1.807226     (0.205)    552.788   2.744356282    1,517.05    90% * 5%       (68.27)
  1996     1.303815       766.980     1996       1.303815     (0.284)    766.150   2.744356282    2,102.59    90% * 5%       (94.62)
  1995     1.099102       909.834     1995       1.099102     (0.337)    908.668   2.744356282    2,493.71    90% * 3%       (67.33)
  Incep           1     1,000.000     N/A               0      0.000     998.834   2.744356282    2,741.16    90% * 3%       (74.01)

<CAPTION>
-------------------------------------------------------------
                                     Total Accum   Average
              Total Accum            Value After   Annual
              Value After    Full     Deduction     Total
               Deduction   Surrender     For       Return
 End of         For Surr     Admin    Admin Fee       n
   Qtr           Charge       Fee       (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>             <C>          <C>      <C>          <C>
  1998          1,068.24     (0.37)   1,067.87      6.79%
  1998          1,346.58     (0.37)   1,346.21     16.03%
  1997          1,448.78     (0.37)   1,448.41     13.15%
  1996          2,007.97     (0.37)   2,007.60     19.03%
  1995          2,426.38     (0.37)   2,426.01     19.39%
  Incep         2,667.15     (0.37)   2,666.78     20.16%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value    Accum
                          Accum                    For        Units
                          Units      Year of      Annual    (Deducted)    Total                     Total      Surrender
 End of      Unit       Purchased     Admin     Admin Fee   For Annual    Accum     09/30/00        Accum       Charge     Surrender
   Qtr       Value     For $1,000      Fee            $0.00 Admin Fee     Units      Unit Value     Value        Calc        Charge
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>         <C>            <C>       <C>           <C>       <C>         <C>            <C>          <C>           <C>
  1998     2.452513      407.745      1998      2.452513      0.000       407.745   2.744356282    1,119.00
  1998     1.945022      514.133      1998      1.945022      0.000       514.133   2.744356282    1,410.96
  1997     1.807226      553.334      1997      1.807226      0.000       553.334   2.744356282    1,518.55
  1996     1.303815      766.980      1996      1.303815      0.000       766.980   2.744356282    2,104.87
  1995     1.099102      909.834      1995      1.099102      0.000       909.834   2.744356282    2,496.91
  Incep           1    1,000.000      N/A              0      0.000     1,000.000   2.744356282    2,744.36

<CAPTION>
-------------------------------------------------------------
                                     Total Accum   Average
              Total Accum            Value After   Annual
              Value After    Full     Deduction     Total
               Deduction   Surrender     For       Return
 End of         For Surr     Admin    Admin Fee       n
   Qtr           Charge       Fee       (ERV)    P(1+T) = ERV
-------------------------------------------------------------
<S>             <C>           <C>     <C>           <C>
  1998          1,119.00      0.00    1,119.00      11.90%
  1998          1,410.96      0.00    1,410.96      18.78%
  1997          1,518.55      0.00    1,518.55      14.94%
  1996          2,104.87      0.00    2,104.87      20.45%
  1995          2,496.91      0.00    2,496.91      20.08%
  Incep         2,744.36      0.00    2,744.36      20.82%
</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       DREYFUS SOCIALLY RESPONSIBLE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                    For         Units
                           Units       Year of    Annual      (Deducted)      Total                      Total     Surrender
 End of      Unit        Purchased      Admin    Admin Fee    For Annual      Accum     09/30/00         Accum       Charge
   Qtr       Value      For $1,000       Fee         ($0.47)  Admin Fee       Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------
<S>        <C>           <C>            <C>      <C>           <C>           <C>         <C>           <C>         <C>
  1999     2.477240        403.675      1999     2.477240      (0.190)       403.485     2.996095      1,208.88       7%
  1998     2.301103        434.574      1998     2.301103      (0.204)       434.180     2.996095      1,300.84       6%
  1997     1.805025        554.009      1997     1.805025      (0.260)       553.355     2.996095      1,657.90    90% * 5%
  1996     1.351194        740.086      1996     1.351194      (0.348)       739.084     2.996095      2,214.37    90% * 4%
  1995     1.141262        876.223      1995     1.141262      (0.412)       874.809     2.996095      2,621.01    90% * 3%
 Incept    1.000000      1,000.000       N/A     0.000000       0.000        998.586     2.996095      2,991.86      NONE

<CAPTION>
-----------------------------------------------------------------------------
                                                     Total Accum   Average
                          Total Accum                Value After    Annual
                          Value After       Full      Deduction     Total
                           Deduction     Surrender       For        Return
 End of      Surrender      For Surr       Admin      Admin Fee       n
   Qtr         Charge        Charge         Fee         (ERV)    P(1+T) = ERV
-----------------------------------------------------------------------------
<S>           <C>          <C>            <C>         <C>           <C>
  1999        (84.62)      1,124.26       (0.47)      1,123.79      12.38%
  1998        (78.05)      1,222.79       (0.47)      1,222.32      10.56%
  1997        (74.61)      1,583.29       (0.47)      1,582.82      16.54%
  1996        (79.72)      2,134.65       (0.47)      2,134.18      20.87%
  1995        (70.77)      2,550.24       (0.47)      2,549.77      20.58%
 Incept         0.00       2,991.86       (0.47)      2,991.39      22.77%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                    For         Units
                           Units       Year of    Annual      (Deducted)      Total                      Total     Surrender
 End of      Unit        Purchased      Admin    Admin Fee    For Annual      Accum     09/30/00         Accum       Charge
   Qtr       Value      For $1,000       Fee          $0.00   Admin Fee       Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>             <C>      <C>            <C>        <C>           <C>           <C>         <C>
  1999     2.477240       403.675       1999     2.477240       0.000        403.675     2.996095      1,209.45
  1998     2.301103       434.574       1998     2.301103       0.000        434.574     2.996095      1,302.02
  1997     1.805025       554.009       1997     1.805025       0.000        554.009     2.996095      1,659.86
  1996     1.351194       740.086       1996     1.351194       0.000        740.086     2.996095      2,217.37
  1995     1.141262       876.223       1995     1.141262       0.000        876.223     2.996095      2,625.25
 Incept    1.000000     1,000.000        N/A     0.000000       0.000      1,000.000     2.996095      2,996.09

<CAPTION>
-----------------------------------------------------------------------------
                                                    Total Accum   Average
                         Total Accum                Value After    Annual
                         Value After       Full      Deduction     Total
                          Deduction     Surrender       For        Return
 End of     Surrender      For Surr       Admin      Admin Fee       n
   Qtr        Charge        Charge         Fee         (ERV)    P(1+T) = ERV
-----------------------------------------------------------------------------
<S>          <C>           <C>            <C>       <C>            <C>
  1999                     1,209.45       0.00      1,209.45       20.94%
  1998                     1,302.02       0.00      1,302.02       14.11%
  1997                     1,659.86       0.00      1,659.86       18.40%
  1996                     2,217.37       0.00      2,217.37       22.03%
  1995                     2,625.25       0.00      2,625.25       21.29%
 Incept                    2,996.09       0.00      2,996.09       22.83%
</TABLE>



<PAGE>





                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       DREYFUS SOCIALLY RESPONSIBLE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                    For         Units
                           Units       Year of    Annual      (Deducted)      Total                      Total     Surrender
 End of      Unit        Purchased      Admin    Admin Fee    For Annual      Accum     09/30/00         Accum       Charge
   Qtr       Value      For $1,000       Fee         ($0.60)  Admin Fee       Units      Unit Value      Value        Calc
-----------------------------------------------------------------------------------------------------------------------------
<S>        <C>           <C>            <C>       <C>          <C>           <C>       <C>              <C>         <C>
  1999     2.477240        403.675      1999      2.477240     (0.242)       403.433      2.996095      1,208.72    90% * 8%
  1998     2.301103        434.574      1998      2.301103     (0.261)       434.071      2.996095      1,300.52    90% * 7%
  1997     1.805025        554.009      1997      1.805025     (0.332)       553.174      2.996095      1,657.36    90% * 6%
  1996     1.351194        740.086      1996      1.351194     (0.444)       738.807      2.996095      2,213.53    90% * 5%
  1995     1.141262        876.223      1995      1.141262     (0.526)       874.418      2.996095      2,619.84    90% * 4%
  Incep    1.000000      1,000.000       N/A      0.000000      0.000        998.195   2.996094791      2,990.69    90% * 3%

<CAPTION>
------------------------------------------------------------------------------
                                                     Total Accum   Average
                          Total Accum                Value After    Annual
                          Value After       Full      Deduction     Total
                           Deduction     Surrender       For        Return
 End of      Surrender      For Surr       Admin      Admin Fee       n
   Qtr         Charge        Charge         Fee         (ERV)    P(1+T) = ERV
------------------------------------------------------------------------------
<S>           <C>          <C>             <C>        <C>           <C>
  1999        (87.03)      1,121.69        (0.60)     1,121.09      12.11%
  1998        (81.93)      1,218.59        (0.60)     1,217.99      10.36%
  1997        (89.50)      1,567.86        (0.60)     1,567.26      16.16%
  1996        (99.61)      2,113.92        (0.60)     2,113.32      20.57%
  1995        (94.31)      2,525.53        (0.60)     2,524.93      20.35%
  Incep       (80.75)      2,909.94        (0.60)     2,909.34      22.14%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                    For         Units
                           Units       Year of    Annual      (Deducted)      Total                      Total     Surrender
 End of      Unit        Purchased      Admin    Admin Fee    For Annual      Accum     09/30/00         Accum       Charge
   Qtr       Value      For $1,000       Fee          $0.00   Admin Fee       Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>             <C>     <C>             <C>        <C>         <C>             <C>         <C>
  1999     2.477240       403.675       1999    2.477240        0.000        403.675      2.996095     1,209.45
  1998     2.301103       434.574       1998    2.301103        0.000        434.574      2.996095     1,302.02
  1997     1.805025       554.009       1997    1.805025        0.000        554.009      2.996095     1,659.86
  1996     1.351194       740.086       1996    1.351194        0.000        740.086      2.996095     2,217.37
  1995     1.141262       876.223       1995    1.141262        0.000        876.223      2.996095     2,625.25
  Incep    1.000000     1,000.000        N/A    0.000000        0.000      1,000.000   2.996094791     2,996.09

<CAPTION>
-----------------------------------------------------------------------------
                                                    Total Accum   Average
                         Total Accum                Value After    Annual
                         Value After       Full      Deduction     Total
                          Deduction     Surrender       For        Return
 End of     Surrender      For Surr       Admin      Admin Fee       n
   Qtr        Charge        Charge         Fee         (ERV)    P(1+T) = ERV
-----------------------------------------------------------------------------

<S>          <C>          <C>             <C>        <C>            <C>
  1999                    1,209.45        0.00       1,209.45       20.95%
  1998                    1,302.02        0.00       1,302.02       14.11%
  1997                    1,659.86        0.00       1,659.86       18.40%
  1996                    2,217.37        0.00       2,217.37       22.03%
  1995                    2,625.25        0.00       2,625.25       21.29%
  Incep                   2,996.09        0.00       2,996.09       22.83%
</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       DREYFUS SOCIALLY RESPONSIBLE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                    For         Units
                           Units       Year of    Annual      (Deducted)      Total                      Total     Surrender
 End of      Unit        Purchased      Admin    Admin Fee    For Annual      Accum     09/30/00         Accum       Charge
   Qtr       Value      For $1,000       Fee         ($0.37)  Admin Fee       Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------
<S>        <C>         <C>              <C>      <C>           <C>           <C>       <C>             <C>          <C>
  1999     2.477240      403.675        1999     2.477240      (0.149)       403.526      2.996095     1,209.00     90% * 5%
  1998     2.301103      434.574        1998     2.301103      (0.161)       434.264      2.996095     1,301.10     90% * 5%
  1997     1.805025      554.009        1997     1.805025      (0.205)       553.494      2.996095     1,658.32     90% * 5%
  1996     1.351194      740.086        1996     1.351194      (0.274)       739.297      2.996095     2,215.00     90% * 5%
  1995     1.141262      876.223        1995     1.141262      (0.324)       875.110      2.996095     2,621.91     90% * 3%
  Incep    1.000000    1,000.000         N/A     0.000000       0.000        998.887   2.996094791     2,992.76     90% * 3%

<CAPTION>
-----------------------------------------------------------------------------
                                                    Total Accum   Average
                         Total Accum                Value After    Annual
                         Value After       Full      Deduction     Total
                          Deduction     Surrender       For        Return
 End of     Surrender      For Surr       Admin      Admin Fee       n
   Qtr        Charge        Charge         Fee         (ERV)    P(1+T) = ERV
-----------------------------------------------------------------------------
<S>          <C>           <C>           <C>         <C>           <C>
  1999       (54.41)       1,154.59      (0.37)      1,154.22      15.43%
  1998       (58.55)       1,242.55      (0.37)      1,242.18      11.45%
  1997       (74.62)       1,583.70      (0.37)      1,583.33      16.55%
  1996       (99.68)       2,115.32      (0.37)      2,114.95      20.59%
  1995       (70.79)       2,551.12      (0.37)      2,550.75      20.60%
  Incep      (80.80)       2,911.96      (0.37)      2,911.59      22.15%
</TABLE>


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                    For         Units
                           Units       Year of    Annual      (Deducted)      Total                      Total     Surrender
 End of      Unit        Purchased      Admin    Admin Fee    For Annual      Accum     09/30/00         Accum       Charge
   Qtr       Value      For $1,000       Fee          $0.00   Admin Fee       Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------
<S>        <C>          <C>             <C>      <C>            <C>        <C>         <C>              <C>         <C>
  1999     2.477240       403.675       1999     2.477240       0.000        403.675      2.996095      1,209.45
  1998     2.301103       434.574       1998     2.301103       0.000        434.574      2.996095      1,302.02
  1997     1.805025       554.009       1997     1.805025       0.000        554.009      2.996095      1,659.86
  1996     1.351194       740.086       1996     1.351194       0.000        740.086      2.996095      2,217.37
  1995     1.141262       876.223       1995     1.141262       0.000        876.223      2.996095      2,625.25
  Incep    1.000000     1,000.000        N/A     0.000000       0.000      1,000.000   2.996094791      2,996.09

<CAPTION>
-----------------------------------------------------------------------------
                                                    Total Accum   Average
                         Total Accum                Value After    Annual
                         Value After       Full      Deduction     Total
                          Deduction     Surrender       For        Return
 End of     Surrender      For Surr       Admin      Admin Fee       n
   Qtr        Charge        Charge         Fee         (ERV)    P(1+T) = ERV
-----------------------------------------------------------------------------
<S>           <C>          <C>            <C>        <C>            <C>
  1999                     1,209.45       0.00       1,209.45       20.95%
  1998                     1,302.02       0.00       1,302.02       14.11%
  1997                     1,659.86       0.00       1,659.86       18.40%
  1996                     2,217.37       0.00       2,217.37       22.03%
  1995                     2,625.25       0.00       2,625.25       21.29%
  Incep                    2,996.09       0.00       2,996.09       22.83%
</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         DREYFUS DISCIPLINED STOCK FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                            Accum                     For           Units
                            Units      Year of       Annual       (Deducted)       Total                        Total     Surrender
  End of        Unit      Purchased     Admin      Admin Fee      For Annual       Accum      09/30/00          Accum       Charge
    Qtr        Value      For $1,000     Fee             ($0.47)  Admin Fee        Units       Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>         <C>            <C>         <C>            <C>         <C>            <C>             <C>         <C>
   1999      1.102589      906.956      1998        1.102589       (0.426)       906.530      1.266050        1,147.71       7%
   1998      0.878079    1,138.850      1998        0.878079       (0.535)     1,137.888      1.266050        1,440.62       6%
  Incept     1.000000    1,000.000      N/A         0.000000        0.000        999.038      1.266050        1,264.83    90% * 5%

<CAPTION>
------------------------------------------------------------------------------
                                                    Total Accum    Average
                           Total Accum              Value After     Annual
                           Value After    Full       Deduction      Total
                            Deduction   Surrender       For         Return
  End of       Surrender    For Surr      Admin      Admin Fee        n
    Qtr         Charge       Charge        Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------
<S>             <C>         <C>           <C>         <C>          <C>
   1999         (80.34)     1,067.37      (0.47)      1,066.90      6.69%
   1998         (86.44)     1,354.18      (0.47)      1,353.71     16.35%
  Incept        (56.92)     1,207.91      (0.47)      1,207.44      8.11%
</TABLE>


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                            Accum                     For           Units
                            Units      Year of       Annual       (Deducted)       Total                        Total     Surrender
  End of        Unit      Purchased     Admin      Admin Fee      For Annual       Accum      09/30/00          Accum       Charge
    Qtr        Value      For $1,000     Fee              $0.00   Admin Fee        Units       Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>           <C>          <C>        <C>               <C>          <C>          <C>            <C>            <C>
   1999      1.102589      906.956      1998       1.102589          0.000        906.956      1.266050       1,148.25
   1998      0.878079    1,138.850      1998       0.878079          0.000      1,138.850      1.266050       1,441.84
  Incept     1.000000    1,000.000      N/A        0.000000          0.000      1,000.000      1.266050       1,266.05

<CAPTION>
-------------------------------------------------------------------------------
                                                     Total Accum    Average
                            Total Accum              Value After     Annual
                            Value After    Full       Deduction      Total
                             Deduction   Surrender       For         Return
  End of        Surrender    For Surr      Admin      Admin Fee        n
    Qtr          Charge       Charge        Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------
<S>            <C>           <C>            <C>        <C>          <C>
   1999                      1,148.25       0.00       1,148.25     14.83%
   1998                      1,441.84       0.00       1,441.84     20.08%
  Incept                     1,266.05       0.00       1,266.05     10.25%
</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         DREYFUS DISCIPLINED STOCK FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245




<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                            Accum                     For           Units
                            Units      Year of       Annual       (Deducted)       Total                        Total     Surrender
  End of        Unit      Purchased     Admin      Admin Fee      For Annual       Accum      09/30/00          Accum       Charge
    Qtr        Value      For $1,000     Fee             ($0.60)  Admin Fee        Units       Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------

<S>          <C>         <C>            <C>        <C>             <C>          <C>          <C>              <C>         <C>
   1999      1.102589      906.956      1998       1.102589        (0.544)        906.412    1.266049887      1,147.56    90% * 8%
   1998      0.878079    1,138.850      1998       0.878079        (0.683)      1,137.623    1.266049887      1,440.29    90% * 7%
   Incep     1.000000    1,000.000      N/A        0.000000         0.000         998.773    1.266049887      1,264.50    90% * 6%

<CAPTION>
-------------------------------------------------------------------------------
                                                     Total Accum    Average
                            Total Accum              Value After     Annual
                            Value After    Full       Deduction      Total
                             Deduction   Surrender       For         Return
  End of        Surrender    For Surr      Admin      Admin Fee        n
    Qtr          Charge       Charge        Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------

<S>              <C>         <C>          <C>         <C>          <C>
   1999          (82.62)     1,064.94     (0.60)      1,064.34      6.44%
   1998          (90.74)     1,349.55     (0.60)      1,348.95     16.14%
   Incep         (68.28)     1,196.22     (0.60)      1,195.62      7.67%
</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                            Accum                     For           Units
                            Units      Year of       Annual       (Deducted)       Total                        Total     Surrender
  End of        Unit      Purchased     Admin      Admin Fee      For Annual       Accum      09/30/00          Accum       Charge
    Qtr        Value      For $1,000     Fee              $0.00   Admin Fee        Units       Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------

<S>          <C>          <C>           <C>         <C>             <C>          <C>          <C>              <C>        <C>
   1999      1.102589       906.956     1998        1.102589        0.000          906.956    1.266049887      1,148.25
   1998      0.878079     1,138.850     1998        0.878079        0.000        1,138.850    1.266049887      1,441.84
   Incep     1.000000     1,000.000     N/A         0.000000        0.000        1,000.000    1.266049887      1,266.05

<CAPTION>
-------------------------------------------------------------------------------
                                                     Total Accum    Average
                            Total Accum              Value After     Annual
                            Value After    Full       Deduction      Total
                             Deduction   Surrender       For         Return
  End of        Surrender    For Surr      Admin      Admin Fee        n
    Qtr          Charge       Charge        Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------

<S>             <C>          <C>            <C>        <C>          <C>
   1999                      1,148.25       0.00       1,148.25     14.83%
   1998                      1,441.84       0.00       1,441.84     20.08%
   Incep                     1,266.05       0.00       1,266.05     10.25%
</TABLE>



<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                         DREYFUS DISCIPLINED STOCK FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                            Accum                     For           Units
                            Units      Year of       Annual       (Deducted)       Total                        Total     Surrender
  End of        Unit      Purchased     Admin      Admin Fee      For Annual       Accum      09/30/00          Accum       Charge
    Qtr        Value      For $1,000     Fee             ($0.37)  Admin Fee        Units       Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>         <C>             <C>        <C>              <C>           <C>       <C>           <C>          <C>
       1999     1.102589      906.956       1998       1.102589         (0.336)       906.620   1.266049887   1,147.83     90% * 5%
       1998     0.878079    1,138.850       1998       0.878079         (0.421)     1,138.093   1.266049887   1,440.88     90% * 5%
   Incep        1.000000    1,000.000       N/A        0.000000          0.000        999.243   1.266049887   1,265.09     90% * 5%


<CAPTION>

----------------------------------------------------------------------------------
                                                        Total Accum    Average
                               Total Accum              Value After     Annual
                               Value After    Full       Deduction      Total
                                Deduction   Surrender       For         Return
  End of           Surrender    For Surr      Admin      Admin Fee        n
    Qtr             Charge       Charge        Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------
<S>                     <C>       <C>            <C>         <C>          <C>
       1999             (51.65)   1,096.18       (0.37)      1,095.81      9.58%
       1998             (64.84)   1,376.04       (0.37)      1,375.67     17.29%
   Incep                (56.93)   1,208.16       (0.37)      1,207.79      8.12%
</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                            Accum                     For           Units
                            Units      Year of       Annual       (Deducted)       Total                        Total     Surrender
  End of        Unit      Purchased     Admin      Admin Fee      For Annual       Accum      09/30/00          Accum       Charge
    Qtr        Value      For $1,000     Fee              $0.00   Admin Fee        Units       Unit Value       Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>         <C>             <C>        <C>               <C>        <C>         <C>              <C>       <C>
       1999     1.102589      906.956       1998       1.102589          0.000        906.956   1.266049887      1,148.25
       1998     0.878079    1,138.850       1998       0.878079          0.000      1,138.850   1.266049887      1,441.84
   Incep        1.000000    1,000.000       N/A        0.000000          0.000      1,000.000   1.266049887      1,266.05

<CAPTION>

---------------------------------------------------------------------------------
                                                       Total Accum    Average
                              Total Accum              Value After     Annual
                              Value After    Full       Deduction      Total
                               Deduction   Surrender       For         Return
  End of          Surrender    For Surr      Admin      Admin Fee        n
    Qtr            Charge       Charge        Fee         (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------
<S>                 <C>          <C>             <C>        <C>          <C>
       1999                      1,148.25        0.00       1,148.25     14.83%
       1998                      1,441.84        0.00       1,441.84     20.08%
   Incep                         1,266.05        0.00       1,266.05     10.25%
</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        DREYFUS INTERNATIONAL VALUE FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                               Unit Value       Accum
                          Accum                   For           Units
                          Units     Year of      Annual      (Deducted)       Total                       Total      Surrender
 End of       Unit      Purchased    Admin     Admin Fee     For Annual       Accum      09/30/2000       Accum        Charge
   Qtr       Value      For $1,000    Fee            ($0.47)  Admin Fee       Units       Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>           <C>        <C>             <C>         <C>          <C>             <C>         <C>
     1999     1.095174      913.097     1998       1.095174        (0.429)       912.668    1.0890931         993.98       7%
     1998     0.820788    1,218.341     1998       0.820788        (0.573)     1,217.339    1.0890931       1,325.80       6%
 Incept       1.000000    1,000.000     N/A        0.000000         0.000        998.998    1.0890931       1,088.00    90% * 5%

<CAPTION>

--------------------------------------------------------------------------------
                                                      Total Accum   Average
                          Total Accum                 Value After    Annual
                          Value After      Full        Deduction     Total
                           Deduction     Surrender        For        Return
 End of      Surrender      For Surr       Admin       Admin Fee       n
   Qtr         Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>              <C>        <C>              <C>        <C>          <C>
     1999        (69.58)      924.40         (0.47)       923.93     -7.61%
     1998        (79.55)    1,246.25         (0.47)     1,245.78     11.61%
 Incept          (48.96)    1,039.04         (0.47)     1,038.57      1.58%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
----------------------------------------------------------------------------------------------------------------------------------

                                               Unit Value       Accum
                          Accum                   For           Units
                          Units     Year of      Annual      (Deducted)       Total                       Total      Surrender
 End of       Unit      Purchased    Admin     Admin Fee     For Annual       Accum      09/30/2000       Accum        Charge
   Qtr       Value      For $1,000    Fee             $0.00   Admin Fee       Units       Unit Value      Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>           <C>        <C>              <C>        <C>          <C>             <C>        <C>
     1999     1.095174      913.097     1998       1.095174         0.000        913.097    1.0890931         994.45
     1998     0.820788    1,218.341     1998       0.820788         0.000      1,218.341    1.0890931       1,326.89
 Incept       1.000000    1,000.000     N/A        0.000000         0.000      1,000.000    1.0890931       1,089.09

<CAPTION>

---------------------------------------------------------------------------------
                                                        Total Accum   Average
                            Total Accum                 Value After    Annual
                            Value After      Full        Deduction     Total
                             Deduction     Surrender        For        Return
 End of        Surrender      For Surr       Admin       Admin Fee       n
   Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------
<S>            <C>              <C>               <C>       <C>          <C>
     1999                         994.45          0.00        994.45     -0.56%
     1998                       1,326.89          0.00      1,326.89     15.19%
 Incept                         1,089.09          0.00      1,089.09      3.59%

</TABLE>


<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        DREYFUS INTERNATIONAL VALUE FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------------

                                               Unit Value       Accum
                          Accum                   For           Units
                          Units     Year of      Annual      (Deducted)       Total                       Total      Surrender
 End of       Unit      Purchased    Admin     Admin Fee     For Annual       Accum      09/30/2000       Accum        Charge
   Qtr       Value      For $1,000    Fee            ($0.60)  Admin Fee       Units       Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>           <C>        <C>             <C>         <C>        <C>            <C>          <C>
     1999     1.095174      913.097     1998       1.095174        (0.548)       912.549  1.089093089      993.85     90% * 8%
     1998     0.820788    1,218.341     1998       0.820788        (0.731)     1,217.062  1.089093089    1,325.49     90% * 7%
  Incep       1.000000    1,000.000     N/A        0.000000         0.000        998.721  1.089093089    1,087.70     90% * 6%

<CAPTION>

--------------------------------------------------------------------------------
                                                       Total Accum   Average
                           Total Accum                 Value After    Annual
                           Value After      Full        Deduction     Total
                            Deduction     Surrender        For        Return
 End of       Surrender      For Surr       Admin       Admin Fee       n
   Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>                 <C>        <C>              <C>        <C>          <C>
     1999           (71.56)      922.29         (0.60)       921.69     -7.83%
     1998           (83.51)    1,241.98         (0.60)     1,241.38     11.42%
  Incep             (58.74)    1,028.96         (0.60)     1,028.36      1.17%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------------

                                               Unit Value       Accum
                          Accum                   For           Units
                          Units     Year of      Annual      (Deducted)       Total                       Total      Surrender
 End of       Unit      Purchased    Admin     Admin Fee     For Annual       Accum      09/30/2000       Accum        Charge
   Qtr       Value      For $1,000    Fee             $0.00   Admin Fee       Units       Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>           <C>        <C>              <C>          <C>      <C>               <C>          <C>
     1999     1.095174      913.097     1998       1.095174         0.000        913.097  1.089093089         994.45
     1998     0.820788    1,218.341     1998       0.820788         0.000      1,218.341  1.089093089       1,326.89
  Incep       1.000000    1,000.000     N/A        0.000000         0.000      1,000.000  1.089093089       1,089.09

<CAPTION>

--------------------------------------------------------------------------------
                                                       Total Accum   Average
                           Total Accum                 Value After    Annual
                           Value After      Full        Deduction     Total
                            Deduction     Surrender        For        Return
 End of       Surrender      For Surr       Admin       Admin Fee       n
   Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>           <C>              <C>               <C>       <C>          <C>
     1999                        994.45          0.00        994.45     -0.56%
     1998                      1,326.89          0.00      1,326.89     15.19%
  Incep                        1,089.09          0.00      1,089.09      3.59%

</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        DREYFUS INTERNATIONAL VALUE FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
----------------------------------------------------------------------------------------------------------------------------------

                                               Unit Value       Accum
                          Accum                   For           Units
                          Units     Year of      Annual      (Deducted)       Total                       Total      Surrender
 End of       Unit      Purchased    Admin     Admin Fee     For Annual       Accum      09/30/2000       Accum        Charge
   Qtr       Value      For $1,000    Fee             (0.37)  Admin Fee       Units       Unit Value      Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>           <C>        <C>             <C>         <C>        <C>            <C>          <C>
     1999     1.095174      913.097     1998       1.095174        (0.338)       912.759  1.089093089      994.08     90% * 5%
     1998     0.820788    1,218.341     1998       0.820788        (0.451)     1,217.552  1.089093089    1,326.03     90% * 5%
  Incep       1.000000    1,000.000     N/A        0.000000         0.000        999.211  1.089093089    1,088.23     90% * 5%

<CAPTION>

--------------------------------------------------------------------------------
                                                       Total Accum   Average
                           Total Accum                 Value After    Annual
                           Value After      Full        Deduction     Total
                            Deduction     Surrender        For        Return
 End of       Surrender      For Surr       Admin       Admin Fee       n
   Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>             <C>            <C>              <C>        <C>          <C>
     1999       (44.73)          949.35         (0.37)       948.98     -5.10%
     1998       (59.67)        1,266.36         (0.37)     1,265.99     12.52%
  Incep         (48.97)        1,039.26         (0.37)     1,038.89      1.59%


</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
-----------------------------------------------------------------------------------------------------------------------------------

                                               Unit Value       Accum
                          Accum                   For           Units
                          Units     Year of      Annual      (Deducted)       Total                       Total      Surrender
 End of       Unit      Purchased    Admin     Admin Fee     For Annual       Accum      09/30/2000       Accum        Charge
   Qtr       Value      For $1,000    Fee              0.00   Admin Fee       Units       Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>           <C>        <C>              <C>          <C>        <C>           <C>           <C>
     1999     1.095174      913.097     1998       1.095174         0.000        913.097    1.089093089     994.45
     1998     0.820788    1,218.341     1998       0.820788         0.000      1,218.341    1.089093089   1,326.89
  Incep       1.000000    1,000.000     N/A        0.000000         0.000      1,000.000    1.089093089   1,089.09

<CAPTION>

----------------------------------------------------------------------------------
                                                         Total Accum   Average
                             Total Accum                 Value After    Annual
                             Value After      Full        Deduction     Total
                              Deduction     Surrender        For        Return
 End of         Surrender      For Surr       Admin       Admin Fee       n
   Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------

<S>            <C>            <C>               <C>       <C>          <C>
     1999                       994.45          0.00        994.45     -0.56%
     1998                     1,326.89          0.00      1,326.89     15.19%
  Incep                       1,089.09          0.00      1,089.09      3.59%
</TABLE>


<PAGE>

              CONSECO VARIABLE INSURANCE COMPANY - EQUITY PORTFOLIO
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                              Accum                    For          Units
                              Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of        Unit      Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000      Accum        Charge
     Qtr         Value     For $1,000      Fee           (0.47)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>             <C>        <C>       <C>                <C>        <C>       <C>           <C>        <C>
     1999       27.433990        36.451    1998      24.295266          (0.019)    36.432    45.957897     1,674.34      7%
     1998       18.948490        52.775    1998      23.991341          (0.020)    52.736    45.957897     2,423.64      6%
     1997       22.329560        44.784    1997      18.627009          (0.025)    44.720    45.957897     2,055.24   90% * 5%
     1996       16.079026        62.193    1996      14.973025          (0.031)    62.098    45.957897     2,853.89   90% * 4%
     1995       12.026623        83.149    1995      10.726673          (0.044)    83.010    45.957897     3,814.97   90% * 3%
     1994        9.112217       109.743    1994       8.340713          (0.056)   109.548    45.957897     5,034.60     NONE
     1993        8.897513       112.391    1993       8.808635          (0.053)   112.143    45.957897     5,153.86     NONE
     1992        7.677991       130.242    1992       7.489042          (0.063)   129.931    45.957897     5,971.36     NONE
     1991        7.225546       138.398    1991       6.653195          (0.071)   138.016    45.957897     6,342.93     NONE
     1990        5.601991       178.508    1990       6.373056          (0.074)   178.052    45.957897     8,182.90     NONE

<CAPTION>

----------------------------------------------------------------------------------
                                                       Total Accum     Average
                            Total Accum                Value After     Annual
                            Value After      Full       Deduction       Total
                             Deduction    Surrender        For         Return
    End of     Surrender     For Surr       Admin       Admin Fee         n
     Qtr        Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------
<S>                <C>          <C>             <C>        <C>             <C>     <C>
     1999          (117.20)     1,557.14        (0.47)     1,556.67        55.67%   1 YR
     1998          (145.42)     2,278.22        (0.47)     2,277.75        50.92%
     1997           (92.49)     1,962.75        (0.47)     1,962.28        25.20%  3 YRS
     1996          (102.74)     2,751.15        (0.47)     2,750.68        28.78%
     1995          (103.00)     3,711.97        (0.47)     3,711.50        29.99%  5 YRS
     1994             0.00      5,034.60        (0.47)     5,034.13        30.91%
     1993             0.00      5,153.86        (0.47)     5,153.39        26.39%
     1992             0.00      5,971.36        (0.47)     5,970.89        25.03%
     1991             0.00      6,342.93        (0.47)     6,342.46        22.78%
     1990             0.00      8,182.90        (0.47)     8,182.43        23.39%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                              Accum                    For          Units
                              Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of        Unit      Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000      Accum        Charge
     Qtr         Value     For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>             <C>             <C>        <C>       <C>                 <C>      <C>        <C>           <C>        <C>
     1999       27.433990        36.451    1998      24.295266           0.000     36.451    45.957897     1,675.21
     1998       18.948490        52.775    1998      23.991341           0.000     52.775    45.957897     2,425.43
     1997       22.329560        44.784    1997      18.627009           0.000     44.784    45.957897     2,058.18
     1996       16.079026        62.193    1996      14.973025           0.000     62.193    45.957897     2,858.26
     1995       12.026623        83.149    1995      10.726673           0.000     83.149    45.957897     3,821.35
     1994        9.112217       109.743    1994       8.340713           0.000    109.743    45.957897     5,043.56
     1993        8.897513       112.391    1993       8.808635           0.000    112.391    45.957897     5,165.25
     1992        7.677991       130.242    1992       7.489042           0.000    130.242    45.957897     5,985.65
     1991        7.225546       138.398    1991       6.653195           0.000    138.398    45.957897     6,360.48
     1990        5.601991       178.508    1990       6.373056           0.000    178.508    45.957897     8,203.85

<CAPTION>

-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                               Total Accum                Value After     Annual
                               Value After      Full       Deduction       Total
                                Deduction    Surrender        For         Return
    End of        Surrender     For Surr       Admin       Admin Fee         n
     Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>             <C>                <C>              <C>       <C>             <C>     <C>
     1999                          1,675.21         0.00      1,675.21        67.52%   1 YR
     1998                          2,425.43         0.00      2,425.43        55.74%
     1997                          2,058.18         0.00      2,058.18        27.20%  3 YRS
     1996                          2,858.26         0.00      2,858.26        30.02%
     1995                          3,821.35         0.00      3,821.35        30.75%  5 YRS
     1994                          5,043.56         0.00      5,043.56        30.96%
     1993                          5,165.25         0.00      5,165.25        26.44%
     1992                          5,985.65         0.00      5,985.65        25.07%
     1991                          6,360.48         0.00      6,360.48        22.82%
     1990                          8,203.85         0.00      8,203.85        23.42%
</TABLE>


<PAGE>

              CONSECO VARIABLE INSURANCE COMPANY - EQUITY PORTFOLIO
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                              Accum                    For          Units
                              Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of        Unit      Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000      Accum        Charge
     Qtr         Value     For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>            <C>          <C>      <C>                <C>       <C>        <C>           <C>        <C>
    1999        27.433990        36.451     1998     24.295266          (0.025)    36.426    45.957897     1,674.06   90% * 8%
    1998        18.948490        52.775     1998     23.991341          (0.025)    52.725    45.957897     2,423.13   90% * 7%
    1997        22.329560        44.784     1997     18.627009          (0.032)    44.702    45.957897     2,054.41   90% * 6%
    1996        16.079026        62.193     1996     14.973025          (0.040)    62.071    45.957897     2,852.65   90% * 5%
    1995        12.026623        83.149     1995     10.726673          (0.056)    82.971    45.957897     3,813.17   90% * 4%
    1994         9.112217       109.743     1994      8.340713          (0.072)   109.493    45.957897     5,032.07   90% * 3%
    1993         8.897513       112.391     1993      8.808635          (0.068)   112.073    45.957897     5,150.64   90% * 2%
    1992         7.677991       130.242     1992      7.489042          (0.080)   129.844    45.957897     5,967.36   90% * 1%
    1991         7.225546       138.398     1991      6.653195          (0.090)   137.910    45.957897     6,338.05     NONE
    1990         5.601991       178.508     1990      6.373056          (0.094)   177.926    45.957897     8,177.10     NONE

<CAPTION>

------------------------------------------------------------------------------------
                                                         Total Accum     Average
                              Total Accum                Value After     Annual
                              Value After      Full       Deduction       Total
                               Deduction    Surrender        For         Return
    End of       Surrender     For Surr       Admin       Admin Fee         n
     Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                  <C>          <C>             <C>        <C>             <C>      <C>
    1999             (120.53)     1,553.53        (0.60)     1,552.93        55.31%   1 YR
    1998             (152.66)     2,270.47        (0.60)     2,269.87        50.66%
    1997             (110.94)     1,943.47        (0.60)     1,942.87        24.78%
    1996             (128.37)     2,724.28        (0.60)     2,723.68        28.47%
    1995             (137.27)     3,675.90        (0.60)     3,675.30        29.74%
    1994             (135.87)     4,896.20        (0.60)     4,895.60        30.31%
    1993              (92.71)     5,057.93        (0.60)     5,057.33        26.06%
    1992              (53.71)     5,913.65        (0.60)     5,913.05        24.88%
    1991                0.00      6,338.05        (0.60)     6,337.45        22.77%
    1990                0.00      8,177.10        (0.60)     8,176.50        23.38%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                              Accum                    For          Units
                              Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of        Unit      Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000      Accum        Charge
     Qtr         Value     For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>             <C>         <C>       <C>                 <C>      <C>        <C>           <C>         <C>
    1999        27.433990        36.451     1998      24.295266           0.000     36.451    45.957897     1,675.21
    1998        18.948490        52.775     1998      23.991341           0.000     52.775    45.957897     2,425.43
    1997        22.329560        44.784     1997      18.627009           0.000     44.784    45.957897     2,058.18
    1996        16.079026        62.193     1996      14.973025           0.000     62.193    45.957897     2,858.26
    1995        12.026623        83.149     1995      10.726673           0.000     83.149    45.957897     3,821.35
    1994         9.112217       109.743     1994       8.340713           0.000    109.743    45.957897     5,043.56
    1993         8.897513       112.391     1993       8.808635           0.000    112.391    45.957897     5,165.25
    1992         7.677991       130.242     1992       7.489042           0.000    130.242    45.957897     5,985.65
    1991         7.225546       138.398     1991       6.653195           0.000    138.398    45.957897     6,360.48
    1990         5.601991       178.508     1990       6.373056           0.000    178.508    45.957897     8,203.85

<CAPTION>

-----------------------------------------------------------------------------------
                                                        Total Accum     Average
                             Total Accum                Value After     Annual
                             Value After      Full       Deduction       Total
                              Deduction    Surrender        For         Return
    End of      Surrender     For Surr       Admin       Admin Fee         n
     Qtr         Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>            <C>                <C>              <C>       <C>             <C>     <C>
    1999                          1,675.21         0.00      1,675.21        67.52%   1 YR
    1998                          2,425.43         0.00      2,425.43        55.74%
    1997                          2,058.18         0.00      2,058.18        27.20%
    1996                          2,858.26         0.00      2,858.26        30.02%  3 YRS
    1995                          3,821.35         0.00      3,821.35        30.75%
    1994                          5,043.56         0.00      5,043.56        30.96%  5 YRS
    1993                          5,165.25         0.00      5,165.25        26.44%
    1992                          5,985.65         0.00      5,985.65        25.07%
    1991                          6,360.48         0.00      6,360.48        22.82%
    1990                          8,203.85         0.00      8,203.85        23.42%
</TABLE>



<PAGE>

              CONSECO VARIABLE INSURANCE COMPANY - EQUITY PORTFOLIO
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                              Accum                    For          Units
                              Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of        Unit      Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000      Accum        Charge
     Qtr         Value     For $1,000      Fee           (0.37)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>             <C>         <C>       <C>              <C>        <C>       <C>           <C>            <C>
    1999        27.433990        36.451     1998      24.295266        (0.015)    36.436    45.957897     1,674.52       90% * 5%
    1998        18.948490        52.775     1998      23.991341        (0.015)    52.745    45.957897     2,424.05       90% * 5%
    1997        22.329560        44.784     1997      18.627009        (0.020)    44.734    45.957897     2,055.88       90% * 5%
    1996        16.079026        62.193     1996      14.973025        (0.025)    62.118    45.957897     2,854.81       90% * 5%
    1995        12.026623        83.149     1995      10.726673        (0.034)    83.040    45.957897     3,816.34       90% * 3%
    1994         9.112217       109.743     1994       8.340713        (0.044)   109.590    45.957897     5,036.53       90% * 3%
    1993         8.897513       112.391     1993       8.808635        (0.042)   112.196    45.957897     5,156.29       90% * 3%
    1992         7.677991       130.242     1992       7.489042        (0.049)   129.998    45.957897     5,974.43       90% * 3%
    1991         7.225546       138.398     1991       6.653195        (0.056)   138.098    45.957897     6,346.69       90% * 3%
    1990         5.601991       178.508     1990       6.373056        (0.058)   178.150    45.957897     8,187.40       90% * 2%

<CAPTION>

------------------------------------------------------------------------------------
                                                         Total Accum     Average
                              Total Accum                Value After     Annual
                              Value After      Full       Deduction       Total
                               Deduction    Surrender        For         Return
    End of       Surrender     For Surr       Admin       Admin Fee         n
     Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                 <C>          <C>             <C>        <C>             <C>     <C>
    1999             (75.35)     1,599.17        (0.37)     1,598.80        59.89%   1 YR
    1998            (109.08)     2,314.97        (0.37)     2,314.60        52.14%
    1997             (92.51)     1,963.37        (0.37)     1,963.00        25.21%  3 YRS
    1996            (128.47)     2,726.34        (0.37)     2,725.97        28.49%
    1995            (103.04)     3,713.30        (0.37)     3,712.93        30.00%  5 YRS
    1994            (135.99)     4,900.54        (0.37)     4,900.17        30.33%
    1993            (139.22)     5,017.07        (0.37)     5,016.70        25.91%
    1992            (161.31)     5,813.12        (0.37)     5,812.75        24.61%
    1991            (171.36)     6,175.33        (0.37)     6,174.96        22.42%
    1990            (147.37)     8,040.03        (0.37)     8,039.66        23.18%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                   Unit Value       Accum
                              Accum                    For          Units
                              Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of        Unit      Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000      Accum        Charge
     Qtr         Value     For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>             <C>         <C>       <C>              <C>      <C>        <C>           <C>          <C>
    1999        27.433990        36.451     1998      24.295266        0.000     36.451    45.957897     1,675.21
    1998        18.948490        52.775     1998      23.991341        0.000     52.775    45.957897     2,425.43
    1997        22.329560        44.784     1997      18.627009        0.000     44.784    45.957897     2,058.18
    1996        16.079026        62.193     1996      14.973025        0.000     62.193    45.957897     2,858.26
    1995        12.026623        83.149     1995      10.726673        0.000     83.149    45.957897     3,821.35
    1994         9.112217       109.743     1994       8.340713        0.000    109.743    45.957897     5,043.56
    1993         8.897513       112.391     1993       8.808635        0.000    112.391    45.957897     5,165.25
    1992         7.677991       130.242     1992       7.489042        0.000    130.242    45.957897     5,985.65
    1991         7.225546       138.398     1991       6.653195        0.000    138.398    45.957897     6,360.48
    1990         5.601991       178.508     1990       6.373056        0.000    178.508    45.957897     8,203.85

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                 <C>           <C>              <C>       <C>             <C>     <C>
    1999                          1,675.21         0.00      1,675.21        67.52%   1 YR
    1998                          2,425.43         0.00      2,425.43        55.74%
    1997                          2,058.18         0.00      2,058.18        27.20%  3 YRS
    1996                          2,858.26         0.00      2,858.26        30.02%
    1995                          3,821.35         0.00      3,821.35        30.75%  5 YRS
    1994                          5,043.56         0.00      5,043.56        30.96%
    1993                          5,165.25         0.00      5,165.25        26.44%
    1992                          5,985.65         0.00      5,985.65        25.07%
    1991                          6,360.48         0.00      6,360.48        22.82%
    1990                          8,203.85         0.00      8,203.85        23.42%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          FEDERATED HIGH INCOME BOND II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                  Accum                    For          Units
                                  Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit         Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200        Accum       Charge
     Qtr           Value       For $1,000      Fee           (0.47)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>          <C>          <C>        <C>               <C>       <C>          <C>         <C>        <C>
    1999             1.379537       724.881    1998       1.379537          (0.341)   724.540      1.364604      988.71      7%
    1998             1.349769       740.868    1998       1.349769          (0.348)   740.179      1.364604    1,010.05      6%
    1997             1.340107       746.209    1997       1.340107          (0.351)   745.169      1.364604    1,016.86   90% * 5%
    1996             1.163177       859.714    1996       1.163177          (0.404)   858.270      1.364604    1,171.20   90% * 4%
    1995             1.032227       968.779    1995       1.032227          (0.455)   966.880      1.364604    1,319.41   90% * 3%
    Incep            1.000000     1,000.000    N/A        0.000000           0.000    998.101      1.364604    1,362.01     NONE

<CAPTION>

------------------------------------------------------------------------------------------
                                                               Total Accum     Average
                                     Total Accum               Value After     Annual
                                     Value After     Full       Deduction       Total
                                      Deduction    Surrender       For         Return
   End of              Surrender      For Surr       Admin      Admin Fee         n
     Qtr                 Charge        Charge         Fee         (ERV)     P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                          <C>         <C>            <C>        <C>             <C>
    1999                     (69.21)       919.50       (0.47)       919.03        -8.10%
    1998                     (60.60)       949.45       (0.47)       948.98        -2.58%
    1997                     (45.76)       971.10       (0.47)       970.63        -0.99%
    1996                     (42.16)     1,129.04       (0.47)     1,128.57         3.07%
    1995                     (35.62)     1,283.79       (0.47)     1,283.32         5.11%
    Incep                      0.00      1,362.01       (0.47)     1,361.54         5.95%

</TABLE>

<TABLE>
<CAPTION>

UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                  Accum                    For          Units
                                  Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit         Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200        Accum       Charge
     Qtr           Value       For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>          <C>          <C>        <C>                <C>    <C>            <C>         <C>         <C>
    1999             1.379537       724.881    1998       1.379537           0.000    724.881      1.364604      989.18
    1998             1.349769       740.868    1998       1.349769           0.000    740.868      1.364604    1,010.99
    1997             1.340107       746.209    1997       1.340107           0.000    746.209      1.364604    1,018.28
    1996             1.163177       859.714    1996       1.163177           0.000    859.714      1.364604    1,173.17
    1995             1.032227       968.779    1995       1.032227           0.000    968.779      1.364604    1,322.00
    Incep            1.000000     1,000.000    N/A        0.000000           0.000  1,000.000      1.364604    1,364.60

<CAPTION>

-----------------------------------------------------------------------------------------
                                                              Total Accum     Average
                                    Total Accum               Value After     Annual
                                    Value After     Full       Deduction       Total
                                     Deduction    Surrender       For         Return
   End of             Surrender      For Surr       Admin      Admin Fee         n
     Qtr                Charge        Charge         Fee         (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                  <C>                <C>             <C>       <C>             <C>
    1999                                  989.18        0.00        989.18        -1.08%
    1998                                1,010.99        0.00      1,010.99         0.55%
    1997                                1,018.28        0.00      1,018.28         0.61%
    1996                                1,173.17        0.00      1,173.17         4.07%
    1995                                1,322.00        0.00      1,322.00         5.74%
    Incep                               1,364.60        0.00      1,364.60         6.00%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          FEDERATED HIGH INCOME BOND II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                  Accum                    For          Units
                                  Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit         Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200        Accum       Charge
     Qtr           Value       For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>             <C>        <C>               <C>       <C>          <C>         <C>        <C>
    1999          1.379537       724.881       1998       1.379537          (0.435)   724.446      1.364604      988.58   90% * 8%
    1998          1.349769       740.868       1998       1.349769          (0.445)   739.989      1.364604    1,009.79   90% * 7%
    1997          1.340107       746.209       1997       1.340107          (0.448)   744.882      1.364604    1,016.47   90% * 6%
    1996          1.163177       859.714       1996       1.163177          (0.516)   857.871      1.364604    1,170.65   90% * 5%
    1995          1.032227       968.779       1995       1.032227          (0.581)   966.355      1.364604    1,318.69   90% * 4%
  Incep           1.000000     1,000.000       N/A        0.000000           0.000    997.576      1.364604    1,361.30   90% * 3%

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                 Total Accum               Value After     Annual
                                 Value After     Full       Deduction       Total
                                  Deduction    Surrender       For         Return
   End of          Surrender      For Surr       Admin      Admin Fee         n
     Qtr             Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                      <C>         <C>            <C>        <C>             <C>
    1999                 (71.18)       917.40       (0.60)       916.80        -8.32%
    1998                 (63.62)       946.17       (0.60)       945.57        -2.76%
    1997                 (54.89)       961.58       (0.60)       960.98        -1.32%
    1996                 (52.68)     1,117.97       (0.60)     1,117.37         2.81%
    1995                 (47.47)     1,271.22       (0.60)     1,270.62         4.91%
  Incep                  (36.76)     1,324.54       (0.60)     1,323.94         5.39%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                  Accum                    For          Units
                                  Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit         Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200        Accum       Charge
     Qtr           Value       For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>          <C>          <C>           <C>             <C>       <C>            <C>         <C>        <C>
    1999             1.379537       724.881    1998          1.379537        0.000       724.881      1.364604      989.18
    1998             1.349769       740.868    1998          1.349769        0.000       740.868      1.364604    1,010.99
    1997             1.340107       746.209    1997          1.340107        0.000       746.209      1.364604    1,018.28
    1996             1.163177       859.714    1996          1.163177        0.000       859.714      1.364604    1,173.17
    1995             1.032227       968.779    1995          1.032227        0.000       968.779      1.364604    1,322.00
  Incep              1.000000     1,000.000    N/A           0.000000        0.000     1,000.000      1.364604    1,364.60

<CAPTION>

----------------------------------------------------------------------------------------
                                                             Total Accum     Average
                                   Total Accum               Value After     Annual
                                   Value After     Full       Deduction       Total
                                    Deduction    Surrender       For         Return
   End of            Surrender      For Surr       Admin      Admin Fee         n
     Qtr               Charge        Charge         Fee         (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                   <C>           <C>             <C>       <C>             <C>
    1999                              989.18        0.00        989.18        -1.08%
    1998                            1,010.99        0.00      1,010.99         0.55%
    1997                            1,018.28        0.00      1,018.28         0.61%
    1996                            1,173.17        0.00      1,173.17         4.07%
    1995                            1,322.00        0.00      1,322.00         5.74%
  Incep                             1,364.60        0.00      1,364.60         6.00%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          FEDERATED HIGH INCOME BOND II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                  Accum                    For          Units
                                  Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit         Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200        Accum       Charge
     Qtr           Value       For $1,000      Fee           (0.37)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>          <C>           <C>       <C>               <C>       <C>          <C>         <C>        <C>
     1999            1.379537       724.881     1998      1.379537          (0.268)   724.613      1.364604      988.81   90% * 5%
     1998            1.349769       740.868     1998      1.349769          (0.274)   740.326      1.364604    1,010.25   90% * 5%
     1997            1.340107       746.209     1997      1.340107          (0.276)   745.391      1.364604    1,017.16   90% * 5%
     1996            1.163177       859.714     1996      1.163177          (0.318)   858.577      1.364604    1,171.62   90% * 5%
     1995            1.032227       968.779     1995      1.032227          (0.358)   967.284      1.364604    1,319.96   90% * 3%
   Incep             1.000000     1,000.000     N/A       0.000000           0.000    998.505      1.364604    1,362.56   90% * 3%

<CAPTION>

----------------------------------------------------------------------------------------
                                                             Total Accum     Average
                                   Total Accum               Value After     Annual
                                   Value After     Full       Deduction       Total
                                    Deduction    Surrender       For         Return
   End of            Surrender      For Surr       Admin      Admin Fee         n
     Qtr               Charge        Charge         Fee         (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                     <C>         <C>            <C>        <C>             <C>
     1999               (44.50)       944.31       (0.37)       943.94        -5.60%
     1998               (45.46)       964.79       (0.37)       964.42        -1.80%
     1997               (45.77)       971.39       (0.37)       971.02        -0.98%
     1996               (52.72)     1,118.90       (0.37)     1,118.53         2.84%
     1995               (35.64)     1,284.32       (0.37)     1,283.95         5.13%
   Incep                (36.79)     1,325.77       (0.37)     1,325.40         5.42%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                  Accum                    For          Units
                                  Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit         Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200        Accum       Charge
     Qtr           Value       For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                  <C>          <C>           <C>        <C>             <C>       <C>          <C>         <C>          <C>
    1999             1.379537       724.881     1998       1.379537        0.000       724.881    1.364604      989.18
    1998             1.349769       740.868     1998       1.349769        0.000       740.868    1.364604    1,010.99
    1997             1.340107       746.209     1997       1.340107        0.000       746.209    1.364604    1,018.28
    1996             1.163177       859.714     1996       1.163177        0.000       859.714    1.364604    1,173.17
    1995             1.032227       968.779     1995       1.032227        0.000       968.779    1.364604    1,322.00
  Incep              1.000000     1,000.000      N/A       0.000000        0.000     1,000.000    1.364604    1,364.60

<CAPTION>

----------------------------------------------------------------------------------------
                                                             Total Accum     Average
                                   Total Accum               Value After     Annual
                                   Value After     Full       Deduction       Total
                                    Deduction    Surrender       For         Return
   End of            Surrender      For Surr       Admin      Admin Fee         n
     Qtr               Charge        Charge         Fee         (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                 <C>               <C>             <C>       <C>             <C>
    1999                                989.18        0.00        989.18        -1.08%
    1998                              1,010.99        0.00      1,010.99         0.55%
    1997                              1,018.28        0.00      1,018.28         0.61%
    1996                              1,173.17        0.00      1,173.17         4.07%
    1995                              1,322.00        0.00      1,322.00         5.74%
  Incep                               1,364.60        0.00      1,364.60         6.00%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        FEDERATED INTERNATIONAL EQUITY II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr          Value      For $1,000      Fee           (0.47)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>            <C>          <C>         <C>         <C>         <C>
    1999           1.730492       577.870    1998       1.730492       (0.272)      577.598     2.328463    1,344.92       7%
    1998           1.304802       766.400    1998       1.304802       (0.360)      765.768     2.328463    1,783.06       6%
    1997           1.245700       802.761    1997       1.245700       (0.377)      801.752     2.328463    1,866.85    90% * 5%
    1996           1.072452       932.443    1996       1.072452       (0.438)      930.996     2.328463    2,167.79    90% * 4%
    1995           1.010629       989.483    1995       1.010629       (0.465)      987.571     2.328463    2,299.52    90% * 3%
    Incep          1.000000     1,000.000    N/A        0.000000        0.000       998.088     2.328463    2,324.01      NONE

<CAPTION>

------------------------------------------------------------------------------------
                                                         Total Accum     Average
                               Total Accum               Value After     Annual
                               Value After     Full       Deduction       Total
                                Deduction    Surrender       For         Return
   End of         Surrender     For Surr       Admin      Admin Fee         n
     Qtr           Charge        Charge         Fee         (ERV)     P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                   <C>          <C>            <C>        <C>             <C>
    1999               (94.14)     1,250.78       (0.47)     1,250.31        25.03%
    1998              (106.98)     1,676.08       (0.47)     1,675.61        29.45%
    1997               (84.01)     1,782.84       (0.47)     1,782.37        21.25%
    1996               (78.04)     2,089.75       (0.47)     2,089.28        20.23%
    1995               (62.09)     2,237.43       (0.47)     2,236.96        17.47%
    Incep                0.00      2,324.01       (0.47)     2,323.54        17.10%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr          Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>                <C>    <C>           <C>         <C>         <C>
    1999           1.730492       577.870    1998       1.730492           0.000    577.870     2.328463    1,345.55
    1998           1.304802       766.400    1998       1.304802           0.000    766.400     2.328463    1,784.53
    1997           1.245700       802.761    1997       1.245700           0.000    802.761     2.328463    1,869.20
    1996           1.072452       932.443    1996       1.072452           0.000    932.443     2.328463    2,171.16
    1995           1.010629       989.483    1995       1.010629           0.000    989.483     2.328463    2,303.97
    Incep          1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     2.328463    2,328.46

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                 Total Accum               Value After     Annual
                                 Value After     Full       Deduction       Total
                                  Deduction    Surrender       For         Return
   End of           Surrender     For Surr       Admin      Admin Fee         n
     Qtr             Charge        Charge         Fee         (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                 <C>              <C>             <C>       <C>             <C>
    1999                             1,345.55        0.00      1,345.55        34.56%
    1998                             1,784.53        0.00      1,784.53        33.59%
    1997                             1,869.20        0.00      1,869.20        23.18%
    1996                             2,171.16        0.00      2,171.16        21.39%
    1995                             2,303.97        0.00      2,303.97        18.17%
    Incep                            2,328.46        0.00      2,328.46        17.16%

</TABLE>


<PAGE>




                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        FEDERATED INTERNATIONAL EQUITY II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr          Value      For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>               <C>       <C>         <C>         <C>         <C>
    1999           1.730492       577.870    1998       1.730492          (0.347)   577.523     2.328463    1,344.74    90% * 8%
    1998           1.304802       766.400    1998       1.304802          (0.460)   765.593     2.328463    1,782.66    90% * 7%
    1997           1.245700       802.761    1997       1.245700          (0.482)   801.473     2.328463    1,866.20    90% * 6%
    1996           1.072452       932.443    1996       1.072452          (0.559)   930.595     2.328463    2,166.86    90% * 5%
    1995           1.010629       989.483    1995       1.010629          (0.594)   987.042     2.328463    2,298.29    90% * 4%
    Incep          1.000000     1,000.000    N/A        0.000000           0.000    997.559     2.328463    2,322.78    90% * 3%

<CAPTION>

-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                                Total Accum               Value After     Annual
                                Value After     Full       Deduction       Total
                                 Deduction    Surrender       For         Return
   End of          Surrender     For Surr       Admin      Admin Fee         n
     Qtr            Charge        Charge         Fee         (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                    <C>          <C>            <C>        <C>             <C>
    1999                (96.82)     1,247.92       (0.60)     1,247.32        24.73%
    1998               (112.31)     1,670.35       (0.60)     1,669.75        29.22%
    1997               (100.77)     1,765.43       (0.60)     1,764.83        20.85%
    1996                (97.51)     2,069.35       (0.60)     2,068.75        19.93%
    1995                (82.74)     2,215.55       (0.60)     2,214.95        17.24%
    Incep               (62.72)     2,260.06       (0.60)     2,259.46        16.49%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr          Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>           <C>        <C>              <C>      <C>           <C>         <C>          <C>
    1999           1.730492       577.870     1998       1.730492         0.000      577.870     2.328463    1,345.55
    1998           1.304802       766.400     1998       1.304802         0.000      766.400     2.328463    1,784.53
    1997           1.245700       802.761     1997       1.245700         0.000      802.761     2.328463    1,869.20
    1996           1.072452       932.443     1996       1.072452         0.000      932.443     2.328463    2,171.16
    1995           1.010629       989.483     1995       1.010629         0.000      989.483     2.328463    2,303.97
    Incep          1.000000     1,000.000     N/A        0.000000         0.000    1,000.000     2.328463    2,328.46

<CAPTION>

------------------------------------------------------------------------------------
                                                         Total Accum     Average
                               Total Accum               Value After     Annual
                               Value After     Full       Deduction       Total
                                Deduction    Surrender       For         Return
   End of         Surrender     For Surr       Admin      Admin Fee         n
     Qtr           Charge        Charge         Fee         (ERV)     P(1+T) = ERV
------------------------------------------------------------------------------------
<S>              <C>                <C>             <C>       <C>             <C>
    1999                            1,345.55        0.00      1,345.55        34.56%
    1998                            1,784.53        0.00      1,784.53        33.59%
    1997                            1,869.20        0.00      1,869.20        23.18%
    1996                            2,171.16        0.00      2,171.16        21.39%
    1995                            2,303.97        0.00      2,303.97        18.17%
    Incep                           2,328.46        0.00      2,328.46        17.16%

</TABLE>

<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        FEDERATED INTERNATIONAL EQUITY II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum     09/30/200      Accum        Charge
     Qtr          Value      For $1,000      Fee           (0.37)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>           <C>        <C>               <C>       <C>         <C>         <C>         <C>
    1999           1.730492       577.870     1998       1.730492          (0.214)   577.656     2.328463    1,345.05    90% * 5%
    1998           1.304802       766.400     1998       1.304802          (0.284)   765.903     2.328463    1,783.38    90% * 5%
    1997           1.245700       802.761     1997       1.245700          (0.297)   801.967     2.328463    1,867.35    90% * 5%
    1996           1.072452       932.443     1996       1.072452          (0.345)   931.304     2.328463    2,168.51    90% * 5%
    1995           1.010629       989.483     1995       1.010629          (0.366)   987.977     2.328463    2,300.47    90% * 3%
    Incep          1.000000     1,000.000     N/A        0.000000           0.000    998.494     2.328463    2,324.96    90% * 3%

<CAPTION>

-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                                Total Accum               Value After     Annual
                                Value After     Full       Deduction       Total
                                 Deduction    Surrender       For         Return
   End of          Surrender     For Surr       Admin      Admin Fee         n
     Qtr            Charge        Charge         Fee         (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                      <C>         <C>            <C>        <C>             <C>
    1999                 (60.53)     1,284.52       (0.37)     1,284.15        28.42%
    1998                 (80.25)     1,703.13       (0.37)     1,702.76        30.49%
    1997                 (84.03)     1,783.32       (0.37)     1,782.95        21.26%
    1996                 (97.58)     2,070.93       (0.37)     2,070.56        19.96%
    1995                 (62.11)     2,238.36       (0.37)     2,237.99        17.48%
    Incep                (62.77)     2,262.19       (0.37)     2,261.82        16.51%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum     09/30/200      Accum        Charge
     Qtr          Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>           <C>        <C>                <C>    <C>           <C>         <C>         <C>
    1999          1.730492       577.870     1998       1.730492           0.000    577.870     2.328463    1,345.55
    1998          1.304802       766.400     1998       1.304802           0.000    766.400     2.328463    1,784.53
    1997          1.245700       802.761     1997       1.245700           0.000    802.761     2.328463    1,869.20
    1996          1.072452       932.443     1996       1.072452           0.000    932.443     2.328463    2,171.16
    1995          1.010629       989.483     1995       1.010629           0.000    989.483     2.328463    2,303.97
   Incep          1.000000     1,000.000     N/A        0.000000           0.000  1,000.000     2.328463    2,328.46

<CAPTION>

-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                                Total Accum               Value After     Annual
                                Value After     Full       Deduction       Total
                                 Deduction    Surrender       For         Return
   End of          Surrender     For Surr       Admin      Admin Fee         n
     Qtr            Charge        Charge         Fee         (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>               <C>               <C>             <C>       <C>             <C>
    1999                            1,345.55        0.00      1,345.55        34.56%
    1998                            1,784.53        0.00      1,784.53        33.59%
    1997                            1,869.20        0.00      1,869.20        23.18%
    1996                            2,171.16        0.00      2,171.16        21.39%
    1995                            2,303.97        0.00      2,303.97        18.17%
   Incep                            2,328.46        0.00      2,328.46        17.16%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              FEDERATED UTILITY II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr         Value      For $1,000      Fee           (0.47)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>               <C>       <C>         <C>          <C>        <C>
    1999          1.716191       582.686    1998       1.716191          (0.274)   582.412     1.746014     1,016.90      7%
    1998          1.652643       605.091    1998       1.652643          (0.284)   604.533     1.746014     1,055.52      6%
    1997          1.382807       723.167    1997       1.382807          (0.340)   722.269     1.746014     1,261.09   90% * 5%
    1996          1.134662       881.320    1996       1.134662          (0.414)   880.008     1.746014     1,536.51   90% * 4%
    1995          1.061171       942.355    1995       1.061171          (0.443)   940.600     1.746014     1,642.30   90% * 3%
    Incep         1.000000     1,000.000    N/A        0.000000           0.000    998.245     1.746014     1,742.95     NONE

<CAPTION>

------------------------------------------------------------------------------------
                                                        Total Accum      Average
                              Total Accum               Value After      Annual
                              Value After     Full       Deduction        Total
                               Deduction    Surrender       For          Return
   End of        Surrender     For Surr       Admin      Admin Fee          n
     Qtr          Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                   <C>         <C>            <C>         <C>             <C>
    1999              (71.18)       945.72       (0.47)        945.25        -5.47%
    1998              (63.33)       992.19       (0.47)        991.72        -0.41%
    1997              (56.75)     1,204.34       (0.47)      1,203.87         6.38%
    1996              (55.31)     1,481.20       (0.47)      1,480.73        10.31%
    1995              (44.34)     1,597.96       (0.47)      1,597.49         9.82%
    Incep               0.00      1,742.95       (0.47)      1,742.48        10.96%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr         Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>        <C>                <C>    <C>           <C>          <C>         <C>
    1999          1.716191       582.686    1998       1.716191           0.000    582.686     1.746014     1,017.38
    1998          1.652643       605.091    1998       1.652643           0.000    605.091     1.746014     1,056.50
    1997          1.382807       723.167    1997       1.382807           0.000    723.167     1.746014     1,262.66
    1996          1.134662       881.320    1996       1.134662           0.000    881.320     1.746014     1,538.80
    1995          1.061171       942.355    1995       1.061171           0.000    942.355     1.746014     1,645.36
    Incep         1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     1.746014     1,746.01

<CAPTION>

-------------------------------------------------------------------------------------
                                                         Total Accum      Average
                               Total Accum               Value After      Annual
                               Value After     Full       Deduction        Total
                                Deduction    Surrender       For          Return
   End of         Surrender     For Surr       Admin      Admin Fee          n
     Qtr           Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                 <C>            <C>             <C>        <C>             <C>
    1999                           1,017.38        0.00       1,017.38         1.74%
    1998                           1,056.50        0.00       1,056.50         2.79%
    1997                           1,262.66        0.00       1,262.66         8.08%
    1996                           1,538.80        0.00       1,538.80        11.38%
    1995                           1,645.36        0.00       1,645.36        10.47%
    Incep                          1,746.01        0.00       1,746.01        11.01%

</TABLE>

<PAGE>




                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              FEDERATED UTILITY II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr         Value      For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>           <C>        <C>               <C>       <C>         <C>          <C>        <C>
    1999          1.716191       582.686     1998       1.716191          (0.350)   582.336     1.746014     1,016.77   90% * 8%
    1998          1.652643       605.091     1998       1.652643          (0.363)   604.378     1.746014     1,055.25   90% * 7%
    1997          1.382807       723.167     1997       1.382807          (0.434)   722.020     1.746014     1,260.66   90% * 6%
    1996          1.134662       881.320     1996       1.134662          (0.529)   879.645     1.746014     1,535.87   90% * 5%
    1995          1.061171       942.355     1995       1.061171          (0.565)   940.114     1.746014     1,641.45   90% * 4%
   Incep          1.000000     1,000.000     N/A        0.000000           0.000    997.759     1.746014     1,742.10   90% * 3%

<CAPTION>

------------------------------------------------------------------------------------
                                                        Total Accum      Average
                              Total Accum               Value After      Annual
                              Value After     Full       Deduction        Total
                               Deduction    Surrender       For          Return
   End of        Surrender     For Surr       Admin      Admin Fee          n
     Qtr          Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                    <C>         <C>            <C>         <C>             <C>
    1999               (73.21)       943.56       (0.60)        942.96        -5.70%
    1998               (66.48)       988.77       (0.60)        988.17        -0.59%
    1997               (68.08)     1,192.58       (0.60)      1,191.98         6.03%
    1996               (69.11)     1,466.76       (0.60)      1,466.16        10.04%
    1995               (59.09)     1,582.36       (0.60)      1,581.76         9.60%
   Incep               (47.04)     1,695.06       (0.60)      1,694.46        10.38%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr         Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>            <C>        <C>                <C>    <C>           <C>          <C>        <C>
     1999         1.716191       582.686      1998       1.716191           0.000    582.686     1.746014     1,017.38
     1998         1.652643       605.091      1998       1.652643           0.000    605.091     1.746014     1,056.50
     1997         1.382807       723.167      1997       1.382807           0.000    723.167     1.746014     1,262.66
     1996         1.134662       881.320      1996       1.134662           0.000    881.320     1.746014     1,538.80
     1995         1.061171       942.355      1995       1.061171           0.000    942.355     1.746014     1,645.36
    Incep         1.000000     1,000.000      N/A        0.000000           0.000  1,000.000     1.746014     1,746.01

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum      Average
                             Total Accum               Value After      Annual
                             Value After     Full       Deduction        Total
                              Deduction    Surrender       For          Return
   End of       Surrender     For Surr       Admin      Admin Fee          n
     Qtr         Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>            <C>                 <C>             <C>        <C>             <C>
     1999                          1,017.38        0.00       1,017.38         1.74%
     1998                          1,056.50        0.00       1,056.50         2.79%
     1997                          1,262.66        0.00       1,262.66         8.08%
     1996                          1,538.80        0.00       1,538.80        11.38%
     1995                          1,645.36        0.00       1,645.36        10.47%
    Incep                          1,746.01        0.00       1,746.01        11.01%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              FEDERATED UTILITY II
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr         Value      For $1,000      Fee           (0.37)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>           <C>        <C>               <C>       <C>         <C>          <C>        <C>
    1999          1.716191       582.686     1998       1.716191          (0.216)   582.470     1.746014     1,017.00   90% * 5%
    1998          1.652643       605.091     1998       1.652643          (0.224)   604.652     1.746014     1,055.73   90% * 5%
    1997          1.382807       723.167     1997       1.382807          (0.268)   722.460     1.746014     1,261.43   90% * 5%
    1996          1.134662       881.320     1996       1.134662          (0.326)   880.287     1.746014     1,536.99   90% * 5%
    1995          1.061171       942.355     1995       1.061171          (0.349)   940.973     1.746014     1,642.95   90% * 3%
   Incep          1.000000     1,000.000     N/A        0.000000           0.000    998.618     1.746014     1,743.60   90% * 3%

<CAPTION>

------------------------------------------------------------------------------------
                                                        Total Accum      Average
                              Total Accum               Value After      Annual
                              Value After     Full       Deduction        Total
                               Deduction    Surrender       For          Return
   End of        Surrender     For Surr       Admin      Admin Fee          n
     Qtr          Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                    <C>         <C>            <C>         <C>             <C>
    1999               (45.77)       971.23       (0.37)        970.86        -2.91%
    1998               (47.51)     1,008.22       (0.37)      1,007.85         0.39%
    1997               (56.76)     1,204.67       (0.37)      1,204.30         6.39%
    1996               (69.16)     1,467.83       (0.37)      1,467.46        10.06%
    1995               (44.36)     1,598.59       (0.37)      1,598.22         9.83%
   Incep               (47.08)     1,696.52       (0.37)      1,696.15        10.40%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/200       Accum        Charge
     Qtr         Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>            <C>        <C>                <C>    <C>           <C>          <C>         <C>
     1999         1.716191       582.686      1998       1.716191           0.000    582.686     1.746014     1,017.38
     1998         1.652643       605.091      1998       1.652643           0.000    605.091     1.746014     1,056.50
     1997         1.382807       723.167      1997       1.382807           0.000    723.167     1.746014     1,262.66
     1996         1.134662       881.320      1996       1.134662           0.000    881.320     1.746014     1,538.80
     1995         1.061171       942.355      1995       1.061171           0.000    942.355     1.746014     1,645.36
    Incep         1.000000     1,000.000      N/A        0.000000           0.000  1,000.000     1.746014     1,746.01

<CAPTION>

------------------------------------------------------------------------------------
                                                       Total Accum      Average
                             Total Accum               Value After      Annual
                             Value After     Full       Deduction        Total
                              Deduction    Surrender       For          Return
   End of       Surrender     For Surr       Admin      Admin Fee          n
     Qtr         Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>             <C>                <C>             <C>        <C>             <C>
     1999                          1,017.38        0.00       1,017.38         1.74%
     1998                          1,056.50        0.00       1,056.50         2.79%
     1997                          1,262.66        0.00       1,262.66         8.08%
     1996                          1,538.80        0.00       1,538.80        11.38%
     1995                          1,645.36        0.00       1,645.36        10.47%
    Incep                          1,746.01        0.00       1,746.01        11.01%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  FIXED INCOME
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr         Value      For $1,000      Fee       (0.47)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>            <C>        <C>        <C>               <C>       <C>          <C>         <C>         <C>
    1999          5.655799       176.810    1998       5.655799          (0.083)   176.727      6.017896    1,063.52       7%
    1998          5.783344       172.910    1998       5.783344          (0.081)   172.746      6.017896    1,039.57       6%
    1997          5.338591       187.315    1997       5.338591          (0.088)   187.063      6.017896    1,125.73    90% * 5%
    1996          4.835788       206.792    1996       4.835788          (0.097)   206.443      6.017896    1,242.35    90% * 4%
    1995          4.634112       215.791    1995       4.634112          (0.101)   215.341      6.017896    1,295.90    90% * 3%
    1994          4.060028       246.304    1994       4.060028          (0.116)   245.738      6.017896    1,478.83      NONE
    1993          4.208829       237.596    1993       4.208829          (0.112)   236.918      6.017896    1,425.75      NONE
    1992          3.781050       264.477    1992       3.781050          (0.124)   263.675      6.017896    1,586.77      NONE
    1991          3.283728       304.532    1991       3.283728          (0.143)   303.587      6.017896    1,826.95      NONE
    1990          2.760774       362.217    1990       2.760774          (0.170)   361.102      6.017896    2,173.07      NONE

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum      Average
                                Total Accum               Value After      Annual
                                Value After     Full       Deduction        Total
                                 Deduction    Surrender       For          Return
   End of          Surrender     For Surr       Admin      Admin Fee          n
     Qtr            Charge        Charge         Fee         (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                     <C>         <C>            <C>         <C>             <C>
    1999                (74.45)       989.07       (0.47)        988.60        -1.14%
    1998                (62.37)       977.20       (0.47)        976.73        -1.17%
    1997                (50.66)     1,075.07       (0.47)      1,074.60         2.43%
    1996                (44.72)     1,197.63       (0.47)      1,197.16         4.60%
    1995                (34.99)     1,260.91       (0.47)      1,260.44         4.74%
    1994                  0.00      1,478.83       (0.47)      1,478.36         6.73%
    1993                  0.00      1,425.75       (0.47)      1,425.28         5.19%
    1992                  0.00      1,586.77       (0.47)      1,586.30         5.94%
    1991                  0.00      1,826.95       (0.47)      1,826.48         6.92%
    1990                  0.00      2,173.07       (0.47)      2,172.60         8.07%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum     09/30/2000      Accum        Charge
     Qtr         Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>            <C>        <C>        <C>                <C>      <C>          <C>         <C>         <C>
    1999          5.655799       176.810    1998       5.655799           0.000    176.810      6.017896    1,064.02
    1998          5.783344       172.910    1998       5.783344           0.000    172.910      6.017896    1,040.55
    1997          5.338591       187.315    1997       5.338591           0.000    187.315      6.017896    1,127.24
    1996          4.835788       206.792    1996       4.835788           0.000    206.792      6.017896    1,244.45
    1995          4.634112       215.791    1995       4.634112           0.000    215.791      6.017896    1,298.61
    1994          4.060028       246.304    1994       4.060028           0.000    246.304      6.017896    1,482.23
    1993          4.208829       237.596    1993       4.208829           0.000    237.596      6.017896    1,429.83
    1992          3.781050       264.477    1992       3.781050           0.000    264.477      6.017896    1,591.60
    1991          3.283728       304.532    1991       3.283728           0.000    304.532      6.017896    1,832.64
    1990          2.760774       362.217    1990       2.760774           0.000    362.217      6.017896    2,179.78

<CAPTION>

------------------------------------------------------------------------------------
                                                        Total Accum      Average
                              Total Accum               Value After      Annual
                              Value After     Full       Deduction        Total
                               Deduction    Surrender       For          Return
   End of        Surrender     For Surr       Admin      Admin Fee          n
     Qtr          Charge        Charge         Fee         (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>            <C>                <C>             <C>        <C>              <C>   <C>
    1999                          1,064.02        0.00       1,064.02         6.40%  1 YR
    1998                          1,040.55        0.00       1,040.55         2.01%
    1997                          1,127.24        0.00       1,127.24         4.07% 3 YRS
    1996                          1,244.45        0.00       1,244.45         5.62%
    1995                          1,298.61        0.00       1,298.61         5.36% 5 YRS
    1994                          1,482.23        0.00       1,482.23         6.78%
    1993                          1,429.83        0.00       1,429.83         5.24%
    1992                          1,591.60        0.00       1,591.60         5.98%
    1991                          1,832.64        0.00       1,832.64         6.96%
    1990                          2,179.78        0.00       2,179.78         8.10%

</TABLE>


<PAGE>




                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  FIXED INCOME
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr         Value      For $1,000      Fee       (0.60)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>            <C>         <C>       <C>               <C>       <C>          <C>         <C>         <C>
   1999           5.655799       176.810     1998      5.655799          (0.106)   176.704      6.017896    1,063.39    90% * 8%
   1998           5.783344       172.910     1998      5.783344          (0.104)   172.700      6.017896    1,039.29    90% * 7%
   1997           5.338591       187.315     1997      5.338591          (0.112)   186.993      6.017896    1,125.30    90% * 6%
   1996           4.835788       206.792     1996      4.835788          (0.124)   206.346      6.017896    1,241.77    90% * 5%
   1995           4.634112       215.791     1995      4.634112          (0.129)   215.216      6.017896    1,295.15    90% * 4%
   1994           4.060028       246.304     1994      4.060028          (0.148)   245.581      6.017896    1,477.88    90% * 3%
   1993           4.208829       237.596     1993      4.208829          (0.143)   236.730      6.017896    1,424.62    90% * 2%
   1992           3.781050       264.477     1992      3.781050          (0.159)   263.452      6.017896    1,585.43    90% * 1%
   1991           3.283728       304.532     1991      3.283728          (0.183)   303.324      6.017896    1,825.37      NONE
   1990           2.760774       362.217     1990      2.760774          (0.217)   360.792      6.017896    2,171.21      NONE

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum      Average
                                Total Accum               Value After      Annual
                                Value After     Full       Deduction        Total
                                 Deduction    Surrender       For          Return
   End of          Surrender     For Surr       Admin      Admin Fee          n
     Qtr            Charge        Charge         Fee         (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                     <C>         <C>            <C>         <C>             <C>
   1999                 (76.56)       986.83       (0.60)        986.23        -1.38%
   1998                 (65.48)       973.81       (0.60)        973.21        -1.35%
   1997                 (60.77)     1,064.53       (0.60)      1,063.93         2.09%
   1996                 (55.88)     1,185.89       (0.60)      1,185.29         4.34%
   1995                 (46.63)     1,248.52       (0.60)      1,247.92         4.53%
   1994                 (39.90)     1,437.98       (0.60)      1,437.38         6.23%
   1993                 (25.64)     1,398.98       (0.60)      1,398.38         4.91%
   1992                 (14.27)     1,571.16       (0.60)      1,570.56         5.81%
   1991                   0.00      1,825.37       (0.60)      1,824.77         6.91%
   1990                   0.00      2,171.21       (0.60)      2,170.61         8.06%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr         Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>            <C>         <C>       <C>                <C>      <C>          <C>         <C>          <C>
   1999           5.655799       176.810     1998      5.655799           0.000    176.810      6.017896    1,064.02
   1998           5.783344       172.910     1998      5.783344           0.000    172.910      6.017896    1,040.55
   1997           5.338591       187.315     1997      5.338591           0.000    187.315      6.017896    1,127.24
   1996           4.835788       206.792     1996      4.835788           0.000    206.792      6.017896    1,244.45
   1995           4.634112       215.791     1995      4.634112           0.000    215.791      6.017896    1,298.61
   1994           4.060028       246.304     1994      4.060028           0.000    246.304      6.017896    1,482.23
   1993           4.208829       237.596     1993      4.208829           0.000    237.596      6.017896    1,429.83
   1992           3.781050       264.477     1992      3.781050           0.000    264.477      6.017896    1,591.60
   1991           3.283728       304.532     1991      3.283728           0.000    304.532      6.017896    1,832.64
   1990           2.760774       362.217     1990      2.760774           0.000    362.217      6.017896    2,179.78

<CAPTION>

-------------------------------------------------------------------------------------
                                                         Total Accum      Average
                               Total Accum               Value After      Annual
                               Value After     Full       Deduction        Total
                                Deduction    Surrender       For          Return
   End of         Surrender     For Surr       Admin      Admin Fee          n
     Qtr           Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                <C>             <C>             <C>        <C>              <C>   <C>
   1999                            1,064.02        0.00       1,064.02         6.40%  1 YR
   1998                            1,040.55        0.00       1,040.55         2.01%
   1997                            1,127.24        0.00       1,127.24         4.07% 3 YRS
   1996                            1,244.45        0.00       1,244.45         5.62%
   1995                            1,298.61        0.00       1,298.61         5.36% 5 YRS
   1994                            1,482.23        0.00       1,482.23         6.78%
   1993                            1,429.83        0.00       1,429.83         5.24%
   1992                            1,591.60        0.00       1,591.60         5.98%
   1991                            1,832.64        0.00       1,832.64         6.96%
   1990                            2,179.78        0.00       2,179.78         8.10%

</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  FIXED INCOME
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00



TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr         Value      For $1,000      Fee       (0.37)       Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>            <C>         <C>        <C>               <C>       <C>          <C>         <C>         <C>
    1999          5.655799       176.810     1998       5.655799          (0.065)   176.745      6.017896    1,063.63    90% * 5%
    1998          5.783344       172.910     1998       5.783344          (0.064)   172.781      6.017896    1,039.78    90% * 5%
    1997          5.338591       187.315     1997       5.338591          (0.069)   187.117      6.017896    1,126.05    90% * 5%
    1996          4.835788       206.792     1996       4.835788          (0.077)   206.517      6.017896    1,242.80    90% * 5%
    1995          4.634112       215.791     1995       4.634112          (0.080)   215.436      6.017896    1,296.47    90% * 3%
    1994          4.060028       246.304     1994       4.060028          (0.091)   245.858      6.017896    1,479.55    90% * 3%
    1993          4.208829       237.596     1993       4.208829          (0.088)   237.062      6.017896    1,426.61    90% * 3%
    1992          3.781050       264.477     1992       3.781050          (0.098)   263.845      6.017896    1,587.79    90% * 3%
    1991          3.283728       304.532     1991       3.283728          (0.113)   303.787      6.017896    1,828.16    90% * 3%
    1990          2.760774       362.217     1990       2.760774          (0.134)   361.338      6.017896    2,174.49    90% * 2%

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum      Average
                                Total Accum               Value After      Annual
                                Value After     Full       Deduction        Total
                                 Deduction    Surrender       For          Return
   End of          Surrender     For Surr       Admin      Admin Fee          n
     Qtr            Charge        Charge         Fee         (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                      <C>         <C>            <C>         <C>             <C>
    1999                 (47.86)     1,015.77       (0.37)      1,015.40         1.54%
    1998                 (46.79)       992.99       (0.37)        992.62        -0.37%
    1997                 (50.67)     1,075.38       (0.37)      1,075.01         2.44%
    1996                 (55.93)     1,186.87       (0.37)      1,186.50         4.37%
    1995                 (35.00)     1,261.47       (0.37)      1,261.10         4.75%
    1994                 (39.95)     1,439.60       (0.37)      1,439.23         6.26%
    1993                 (38.52)     1,388.09       (0.37)      1,387.72         4.79%
    1992                 (42.87)     1,544.92       (0.37)      1,544.55         5.58%
    1991                 (49.36)     1,778.80       (0.37)      1,778.43         6.61%
    1990                 (39.14)     2,135.35       (0.37)      2,134.98         7.88%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                    Unit Value       Accum
                               Accum                    For          Units
                               Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/2000       Accum        Charge
     Qtr         Value      For $1,000      Fee        0.00        Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>            <C>         <C>       <C>                <C>      <C>          <C>         <C>        <C>
    1999           5.655799       176.810     1998      5.655799           0.000    176.810      6.017896    1,064.02
    1998           5.783344       172.910     1998      5.783344           0.000    172.910      6.017896    1,040.55
    1997           5.338591       187.315     1997      5.338591           0.000    187.315      6.017896    1,127.24
    1996           4.835788       206.792     1996      4.835788           0.000    206.792      6.017896    1,244.45
    1995           4.634112       215.791     1995      4.634112           0.000    215.791      6.017896    1,298.61
    1994           4.060028       246.304     1994      4.060028           0.000    246.304      6.017896    1,482.23
    1993           4.208829       237.596     1993      4.208829           0.000    237.596      6.017896    1,429.83
    1992           3.781050       264.477     1992      3.781050           0.000    264.477      6.017896    1,591.60
    1991           3.283728       304.532     1991      3.283728           0.000    304.532      6.017896    1,832.64
    1990           2.760774       362.217     1990      2.760774           0.000    362.217      6.017896    2,179.78

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum      Average
                                Total Accum               Value After      Annual
                                Value After     Full       Deduction        Total
                                 Deduction    Surrender       For          Return
   End of          Surrender     For Surr       Admin      Admin Fee          n
     Qtr            Charge        Charge         Fee         (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                 <C>              <C>             <C>        <C>              <C>   <C>
    1999                             1,064.02        0.00       1,064.02         6.40%  1 YR
    1998                             1,040.55        0.00       1,040.55         2.01%
    1997                             1,127.24        0.00       1,127.24         4.07% 3 YRS
    1996                             1,244.45        0.00       1,244.45         5.62%
    1995                             1,298.61        0.00       1,298.61         5.36% 5 YRS
    1994                             1,482.23        0.00       1,482.23         6.78%
    1993                             1,429.83        0.00       1,429.83         5.24%
    1992                             1,591.60        0.00       1,591.60         5.98%
    1991                             1,832.64        0.00       1,832.64         6.96%
    1990                             2,179.78        0.00       2,179.78         8.10%

</TABLE>

<PAGE>

           CONSECO VARIABLE INSURANCE COMPANY - GOVERNMENT SECURITIES
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                     For          Units
                            Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased      Admin     Admin Fee    For Annual      Accum      09/30/00       Accum        Charge
    Qtr        Value      For $1,000      Fee           -0.47    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>             <C>        <C>        <C>                <C>    <C>            <C>          <C>        <C>
   1999        1.302399        767.814    1998       1.302399          -0.361    767.453      1.370425     1,051.74      7%
   1998        1.347191        742.285    1998       1.347191          -0.349    741.575      1.370425     1,016.27      6%
   1997        1.232439        811.399    1997       1.232439          -0.381    810.308      1.370425     1,110.47   90% * 5%
   1996        1.147775        871.251    1996       1.147775          -0.409    869.751      1.370425     1,191.93   90% * 4%
   1995        1.115189        896.709    1995       1.115189          -0.421    894.788      1.370425     1,226.24   90% * 3%
   1994        0.994120      1,005.915    1994       0.994120          -0.473  1,003.521      1.370425     1,375.25     NONE
   1993        1.052422        950.189    1993       1.052422          -0.447    947.348      1.370425     1,298.27     NONE
Incep          1.000000      1,000.000    1992       0.000000           0.000    997.159      1.370425     1,366.53     NONE

<CAPTION>

---------------------------------------------------------------------------------
                                                     Total Accum     Average
                          Total Accum                Value After      Annual
                          Value After      Full       Deduction       Total
                           Deduction    Surrender        For          Return
  End of     Surrender     For Surr       Admin       Admin Fee         n
    Qtr       Charge        Charge         Fee          (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------
<S>               <C>         <C>             <C>        <C>              <C>     <C>
   1999           (73.62)       978.12        -0.47        977.65         -2.24%  1 YRS
   1998           (60.98)       955.29        -0.47        954.82         -2.29%
   1997           (49.97)     1,060.50        -0.47      1,060.03          1.96%  3 YRS
   1996           (42.91)     1,149.02        -0.47      1,148.55          3.52%
   1995           (33.11)     1,193.13        -0.47      1,192.66          3.59%  5 YRS
   1994             0.00      1,375.25        -0.47      1,374.78          5.45%
   1993             0.00      1,298.27        -0.47      1,297.80          3.79%
Incep               0.00      1,366.53        -0.47      1,366.06          4.29%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                     For          Units
                            Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased      Admin     Admin Fee    For Annual      Accum      09/30/00       Accum        Charge
    Qtr        Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>           <C>          <C>        <C>                <C>    <C>            <C>          <C>         <C>
   1999        1.302399        767.814    1998       1.302399           0.000    767.814      1.370425     1,052.23
   1998        1.347191        742.285    1998       1.347191           0.000    742.285      1.370425     1,017.25
   1997        1.232439        811.399    1997       1.232439           0.000    811.399      1.370425     1,111.96
   1996        1.147775        871.251    1996       1.147775           0.000    871.251      1.370425     1,193.98
   1995        1.115189        896.709    1995       1.115189           0.000    896.709      1.370425     1,228.87
   1994        0.994120      1,005.915    1994       0.994120           0.000  1,005.915      1.370425     1,378.53
   1993        1.052422        950.189    1993       1.052422           0.000    950.189      1.370425     1,302.16
Incep          1.000000      1,000.000    1992       0.000000           0.000  1,000.000      1.370425     1,370.42

<CAPTION>

----------------------------------------------------------------------------------
                                                      Total Accum     Average
                           Total Accum                Value After      Annual
                           Value After      Full       Deduction       Total
                            Deduction    Surrender        For          Return
  End of      Surrender     For Surr       Admin       Admin Fee         n
    Qtr        Charge        Charge         Fee          (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------
<S>            <C>             <C>              <C>       <C>               <C>   <C>
   1999                        1,052.23         0.00      1,052.23          5.22% 1 YRS
   1998                        1,017.25         0.00      1,017.25          0.86%
   1997                        1,111.96         0.00      1,111.96          3.60% 3 YRS
   1996                        1,193.98         0.00      1,193.98          4.53%
   1995                        1,228.87         0.00      1,228.87          4.21% 5 YRS
   1994                        1,378.53         0.00      1,378.53          5.50%
   1993                        1,302.16         0.00      1,302.16          3.84%
Incep                          1,370.42         0.00      1,370.42          4.34%

</TABLE>


<PAGE>



           CONSECO VARIABLE INSURANCE COMPANY - GOVERNMENT SECURITIES
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                     For          Units
                            Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00         Accum        Charge
    Qtr        Value      For $1,000      Fee           -0.60    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>           <C>          <C>        <C>               <C>     <C>            <C>          <C>        <C>
1999           1.302399        767.814    1998       1.302399          -0.461    767.353      1.370425     1,051.60   90% * 8%
1998           1.347191        742.285    1998       1.347191          -0.445    741.379      1.370425     1,016.00   90% * 7%
1997           1.232439        811.399    1997       1.232439          -0.487    810.006      1.370425     1,110.05   90% * 6%
1996           1.147775        871.251    1996       1.147775          -0.523    869.335      1.370425     1,191.36   90% * 5%
1995           1.115189        896.709    1995       1.115189          -0.538    894.255      1.370425     1,225.51   90% * 4%
1994           0.994120      1,005.915    1994       0.994120          -0.604  1,002.857      1.370425     1,374.34   90% * 3%
1993           1.052422        950.189    1993       1.052422          -0.570    946.561      1.370425     1,297.19   90% * 2%
Incep          1.000000      1,000.000    1992       0.000000           0.000    996.372      1.370425     1,365.45   90% * 1%

<CAPTION>

----------------------------------------------------------------------------------
                                                      Total Accum     Average
                           Total Accum                Value After      Annual
                           Value After      Full       Deduction       Total
                            Deduction    Surrender        For          Return
  End of      Surrender     For Surr       Admin       Admin Fee         n
    Qtr        Charge        Charge         Fee          (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------
<S>                <C>           <C>            <C>         <C>             <C>    <C>
1999               (75.72)       975.88        -0.60        975.28         -2.47%  1 YRS
1998               (64.01)       951.99        -0.60        951.39         -2.46%
1997               (59.94)     1,050.11        -0.60      1,049.51          1.62%  3 YRS
1996               (53.61)     1,137.75        -0.60      1,137.15          3.27%
1995               (44.12)     1,181.39        -0.60      1,180.79          3.38%  5 YRS
1994               (37.11)     1,337.23        -0.60      1,336.63          4.95%
1993               (23.35)     1,273.84        -0.60      1,273.24          3.51%
Incep              (12.29)     1,353.16        -0.60      1,352.56          4.15%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                     For          Units
                            Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00         Accum        Charge
    Qtr        Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>           <C>           <C>       <C>                <C>    <C>            <C>          <C>        <C>
1999           1.302399        767.814     1998      1.302399           0.000    767.814      1.370425     1,052.23
1998           1.347191        742.285     1998      1.347191           0.000    742.285      1.370425     1,017.25
1997           1.232439        811.399     1997      1.232439           0.000    811.399      1.370425     1,111.96
1996           1.147775        871.251     1996      1.147775           0.000    871.251      1.370425     1,193.98
1995           1.115189        896.709     1995      1.115189           0.000    896.709      1.370425     1,228.87
1994           0.994120      1,005.915     1994      0.994120           0.000  1,005.915      1.370425     1,378.53
1993           1.052422        950.189     1993      1.052422           0.000    950.189      1.370425     1,302.16
Incep          1.000000      1,000.000     1992      0.000000           0.000  1,000.000      1.370425     1,370.42

<CAPTION>

-------------------------------------------------------------------------------
                                                   Total Accum     Average
                        Total Accum                Value After      Annual
                        Value After      Full       Deduction       Total
                         Deduction    Surrender        For          Return
  End of   Surrender     For Surr       Admin       Admin Fee         n
    Qtr     Charge        Charge         Fee          (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------
<S>          <C>             <C>              <C>       <C>               <C>   <C>
1999                        1,052.23         0.00      1,052.23          5.22% 1 YRS
1998                        1,017.25         0.00      1,017.25          0.86%
1997                        1,111.96         0.00      1,111.96          3.60% 3 YRS
1996                        1,193.98         0.00      1,193.98          4.53%
1995                        1,228.87         0.00      1,228.87          4.21% 5 YRS
1994                        1,378.53         0.00      1,378.53          5.50%
1993                        1,302.16         0.00      1,302.16          3.84%
Incep                       1,370.42         0.00      1,370.42          4.34%

</TABLE>

<PAGE>

           CONSECO VARIABLE INSURANCE COMPANY - GOVERNMENT SECURITIES
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                     For          Units
                            Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00         Accum        Charge
    Qtr        Value      FOR $1,000      Fee           -0.37    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>           <C>          <C>        <C>               <C>     <C>            <C>          <C>        <C>
1999           1.302399        767.814    1998       1.302399          -0.284    767.530      1.370425     1,051.84   90% * 5%
1998           1.347191        742.285    1998       1.347191          -0.275    741.726      1.370425     1,016.48   90% * 5%
1997           1.232439        811.399    1997       1.232439          -0.300    810.540      1.370425     1,110.78   90% * 5%
1996           1.147775        871.251    1996       1.147775          -0.322    870.070      1.370425     1,192.37   90% * 5%
1995           1.115189        896.709    1995       1.115189          -0.332    895.196      1.370425     1,226.80   90% * 3%
1994           0.994120      1,005.915    1994       0.994120          -0.372  1,004.030      1.370425     1,375.95   90% * 3%
1993           1.052422        950.189    1993       1.052422          -0.352    947.952      1.370425     1,299.10   90% * 3%
Incep          1.000000      1,000.000    1992       0.000000           0.000    997.763      1.370425     1,367.36   90% * 3%

<CAPTION>

----------------------------------------------------------------------------------
                                                      Total Accum     Average
                           Total Accum                Value After      Annual
                           Value After      Full       Deduction       Total
                            Deduction    Surrender        For          Return
  End of      Surrender     For Surr       Admin       Admin Fee         n
    Qtr        Charge        Charge         Fee          (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------
<S>                 <C>        <C>              <C>       <C>              <C>      <C>
1999               -47.33      1,004.51        -0.37      1,004.14          0.41%   1 YRS
1998               -45.74        970.74        -0.37        970.37         -1.49%
1997               -49.99      1,060.79        -0.37      1,060.42          1.97%   3 YRS
1996               -53.66      1,138.71        -0.37      1,138.34          3.29%
1995               -33.12      1,193.68        -0.37      1,193.31          3.60%   5 YRS
1994               -37.15      1,338.80        -0.37      1,338.43          4.98%
1993               -35.08      1,264.02        -0.37      1,263.65          3.40%
Incep              -36.92      1,330.44        -0.37      1,330.07          3.92%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                     For          Units
                            Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00         Accum        Charge
    Qtr        Value      FOR $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>             <C>         <C>       <C>                <C>      <C>          <C>          <C>           <C>
1999           1.302399        767.814     1998      1.302399           0.000    767.814      1.370425     1,052.23
1998           1.347191        742.285     1998      1.347191           0.000    742.285      1.370425     1,017.25
1997           1.232439        811.399     1997      1.232439           0.000    811.399      1.370425     1,111.96
1996           1.147775        871.251     1996      1.147775           0.000    871.251      1.370425     1,193.98
1995           1.115189        896.709     1995      1.115189           0.000    896.709      1.370425     1,228.87
1994           0.994120      1,005.915     1994      0.994120           0.000  1,005.915      1.370425     1,378.53
1993           1.052422        950.189     1993      1.052422           0.000    950.189      1.370425     1,302.16
Incep          1.000000      1,000.000     1992      0.000000           0.000  1,000.000      1.370425     1,370.42

<CAPTION>

----------------------------------------------------------------------------------
                                                      Total Accum     Average
                           Total Accum                Value After      Annual
                           Value After      Full       Deduction       Total
                            Deduction    Surrender        For          Return
  End of      Surrender     For Surr       Admin       Admin Fee         n
    Qtr        Charge        Charge         Fee          (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------
<S>            <C>             <C>              <C>       <C>               <C>   <C>
1999                           1,052.23         0.00      1,052.23          5.22% 1 YRS
1998                           1,017.25         0.00      1,017.25          0.86%
1997                           1,111.96         0.00      1,111.96          3.60% 3 YRS
1996                           1,193.98         0.00      1,193.98          4.53%
1995                           1,228.87         0.00      1,228.87          4.21% 5 YRS
1994                           1,378.53         0.00      1,378.53          5.50%
1993                           1,302.16         0.00      1,302.16          3.84%
Incep                          1,370.42         0.00      1,370.42          4.34%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             INVESCO HIGH YIELD FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value       Accum
                            Accum                   For          Units
                            Units      Year of    Annual       (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased     Admin    Admin Fee     For Annual      Accum    09/30/00         Accum         Charge
   Qtr        Value      For $1,000      Fee         -$0.47    Admin Fee       Units     Unit Value      Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>            <C>     <C>            <C>         <C>            <C>          <C>         <C>
      1999     0.997024     1,002.985      1998    0.997024       (0.471)     1,002.514      1.005014     1,007.54       7%
      1998     0.930814     1,074.328      1998    0.930814       (0.505)     1,073.352      1.005014     1,078.73       6%
  Incept       1.000000     1,000.000      N/A     0.000000        0.000        999.024      1.005014     1,004.03    90% * 5%

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                <C>            <C>             <C>         <C>               <C>
      1999         (70.53)        937.01         -0.47          936.54          -6.35%
      1998         (64.72)      1,014.01         -0.47        1,013.54           0.67%
  Incept           (45.18)        958.85         -0.47          958.38          -1.74%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value       Accum
                            Accum                   For          Units
                            Units      Year of    Annual       (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased     Admin    Admin Fee     For Annual      Accum    09/30/00         Accum         Charge
   Qtr        Value      For $1,000      Fee          $0.00    Admin Fee       Units     Unit Value      Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>            <C>     <C>            <C>         <C>            <C>          <C>          <C>
      1999     0.997024     1,002.985      1998    0.997024       0.000       1,002.985      1.005014     1,008.01
      1998     0.930814     1,074.328      1998    0.930814       0.000       1,074.328      1.005014     1,079.72
  Incept       1.000000     1,000.000      N/A     0.000000       0.000       1,000.000      1.005014     1,005.01

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>            <C>              <C>               <C>         <C>                <C>
      1999                      1,008.01          0.00        1,008.01           0.80%
      1998                      1,079.72          0.00        1,079.72           3.91%
  Incept                        1,005.01          0.00        1,005.01           0.21%

</TABLE>

<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             INVESCO HIGH YIELD FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value       Accum
                            Accum                   For          Units
                            Units      Year of    Annual       (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased     Admin    Admin Fee     For Annual      Accum    09/30/00         Accum         Charge
   Qtr        Value      For $1,000      Fee         -$0.60    Admin Fee       Units     Unit Value      Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>            <C>     <C>             <C>        <C>         <C>             <C>         <C>
      1999     0.997024     1,002.985      1998    0.997024        (0.602)    1,002.383   1.005014494     1,007.41    90% * 8%
      1998     0.930814     1,074.328      1998    0.930814        (0.645)    1,073.082   1.005014494     1,078.46    90% * 7%
  Incep        1.000000     1,000.000      N/A     0.000000         0.000       998.754   1.005014494     1,003.76    90% * 6%

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                <C>          <C>              <C>          <C>               <C>
      1999         (72.53)        934.88         -0.60          934.28          -6.57%
      1998         (67.94)      1,010.52         -0.60        1,009.92           0.49%
  Incep            (54.20)        949.56         -0.60          948.96          -2.14%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value       Accum
                            Accum                   For          Units
                            Units      Year of    Annual       (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased     Admin    Admin Fee     For Annual      Accum    09/30/00         Accum         Charge
   Qtr        Value      For $1,000      Fee          $0.00    Admin Fee       Units     Unit Value      Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>            <C>     <C>             <C>        <C>         <C>             <C>        <C>
      1999     0.997024     1,002.985      1998    0.997024        0.000      1,002.985   1.005014494     1,008.01
      1998     0.930814     1,074.328      1998    0.930814        0.000      1,074.328   1.005014494     1,079.72
  Incep        1.000000     1,000.000      N/A     0.000000        0.000      1,000.000   1.005014494     1,005.01

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>            <C>              <C>               <C>         <C>                <C>
      1999                      1,008.01          0.00        1,008.01           0.80%
      1998                      1,079.72          0.00        1,079.72           3.91%
  Incep                         1,005.01          0.00        1,005.01           0.21%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             INVESCO HIGH YIELD FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value       Accum
                            Accum                   For          Units
                            Units      Year of    Annual       (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased     Admin    Admin Fee     For Annual      Accum    09/30/00         Accum         Charge
   Qtr        Value      For $1,000      Fee         -$0.37    Admin Fee       Units     Unit Value      Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>            <C>     <C>             <C>        <C>         <C>             <C>         <C>
      1999     0.997024     1,002.985      1998    0.997024        (0.371)    1,002.614   1.005014494     1,007.64    90% * 5%
      1998     0.930814     1,074.328      1998    0.930814        (0.398)    1,073.559   1.005014494     1,078.94    90% * 5%
  Incep        1.000000     1,000.000      N/A     0.000000         0.000       999.231   1.005014494     1,004.24    90% * 5%

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                <C>          <C>              <C>          <C>               <C>
      1999         -45.34         962.30         -0.37          961.93          -3.81%
      1998         -48.55       1,030.39         -0.37        1,030.02           1.49%
  Incep            -45.19         959.05         -0.37          958.68          -1.73%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value       Accum
                            Accum                   For          Units
                            Units      Year of    Annual       (Deducted)      Total                     Total       Surrender
  End of       Unit       Purchased     Admin    Admin Fee     For Annual      Accum    09/30/00         Accum         Charge
   Qtr        Value      For $1,000      Fee          $0.00    Admin Fee       Units     Unit Value      Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>            <C>     <C>             <C>        <C>         <C>             <C>          <C>
      1999     0.997024     1,002.985      1998    0.997024        0.000      1,002.985   1.005014494     1,008.01
      1998     0.930814     1,074.328      1998    0.930814        0.000      1,074.328   1.005014494     1,079.72
  Incep        1.000000     1,000.000      N/A     0.000000        0.000      1,000.000   1.005014494     1,005.01

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>             <C>             <C>               <C>         <C>                <C>
      1999                      1,008.01          0.00        1,008.01           0.80%
      1998                      1,079.72          0.00        1,079.72           3.91%
  Incep                         1,005.01          0.00        1,005.01           0.21%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           INVESCO EQUITY INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee           -$0.47    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>           <C>           <C>          <C>         <C>         <C>
      1999     1.089308       918.014       1998     1.089308      (0.431)       917.583      1.232863    1,131.25       7%
      1998     0.914216     1,093.833       1998     0.914216      (0.514)     1,092.887      1.232863    1,347.38       6%
  Incept       1.000000     1,000.000       N/A      0.000000       0.000        999.054      1.232863    1,231.70    90% * 5%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                            Total Accum                   Value After       Annual
                            Value After       Full         Deduction         Total
                             Deduction      Surrender         For           Return
  End of       Surrender      For Surr        Admin        Admin Fee           n
   Qtr          Charge         Charge          Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                 <C>          <C>               <C>         <C>               <C>
      1999          (79.19)      1,052.06         -0.47        1,051.59           5.16%
      1998          (80.84)      1,266.54         -0.47        1,266.07          12.52%
  Incept            (55.43)      1,176.27         -0.47        1,175.80           6.92%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>            <C>          <C>          <C>         <C>         <C>
      1999     1.089308       918.014       1998     1.089308       0.000        918.014      1.232863    1,131.79
      1998     0.914216     1,093.833       1998     0.914216       0.000      1,093.833      1.232863    1,348.55
  Incept       1.000000     1,000.000       N/A      0.000000       0.000      1,000.000      1.232863    1,232.86

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>            <C>              <C>               <C>         <C>               <C>
      1999                      1,131.79          0.00        1,131.79          13.18%
      1998                      1,348.55          0.00        1,348.55          16.13%
  Incept                        1,232.86          0.00        1,232.86           9.05%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           INVESCO EQUITY INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee           -$0.60    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------

<S>            <C>          <C>             <C>      <C>           <C>         <C>         <C>            <C>         <C>
      1999     1.089308       918.014       1998     1.089308      (0.551)       917.463   1.232863491    1,131.11    90% * 8%
      1998     0.914216     1,093.833       1998     0.914216      (0.656)     1,092.626   1.232863491    1,347.06    90% * 7%
  Incep        1.000000     1,000.000       N/A      0.000000       0.000        998.793   1.232863491    1,231.38    90% * 6%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                            Total Accum                   Value After       Annual
                            Value After       Full         Deduction         Total
                             Deduction      Surrender         For           Return
  End of       Surrender      For Surr        Admin        Admin Fee           n
   Qtr          Charge         Charge          Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                 <C>          <C>               <C>         <C>               <C>
      1999          (81.44)      1,049.67         -0.60        1,049.07           4.91%
      1998          (84.86)      1,262.20         -0.60        1,261.60          12.32%
  Incep             (66.49)      1,164.89         -0.60        1,164.29           6.49%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>            <C>        <C>         <C>            <C>          <C>
      1999     1.089308       918.014       1998     1.089308       0.000        918.014   1.232863491    1,131.79
      1998     0.914216     1,093.833       1998     0.914216       0.000      1,093.833   1.232863491    1,348.55
  Incep        1.000000     1,000.000       N/A      0.000000       0.000      1,000.000   1.232863491    1,232.86

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                            Total Accum                   Value After       Annual
                            Value After       Full         Deduction         Total
                             Deduction      Surrender         For           Return
  End of       Surrender      For Surr        Admin        Admin Fee           n
   Qtr          Charge         Charge          Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                 <C>          <C>               <C>         <C>               <C>
      1999                       1,131.79          0.00        1,131.79          13.18%
      1998                       1,348.55          0.00        1,348.55          16.13%
  Incep                          1,232.86          0.00        1,232.86           9.05%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           INVESCO EQUITY INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee            -0.37    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------

<S>            <C>          <C>             <C>      <C>            <C>        <C>         <C>            <C>         <C>
      1999     1.089308       918.014       1998     1.089308       (0.340)      917.674   1.232863491    1,131.37
      1998     0.914216     1,093.833       1998     0.914216       (0.405)    1,093.089   1.232863491    1,347.63
  Incep        1.000000     1,000.000       N/A      0.000000        0.000       999.256   1.232863491    1,231.95    90% * 5%

<CAPTION>

--------------------------------------------------------------------------------------
                                                        Total Accum       Average
                          Total Accum                   Value After       Annual
                          Value After       Full         Deduction         Total
                           Deduction      Surrender         For           Return
  End of     Surrender      For Surr        Admin        Admin Fee           n
   Qtr        Charge         Charge          Fee           (ERV)       P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>               <C>         <C>               <C>         <C>                <C>
      1999        -50.91       1,080.46         -0.37        1,080.09           8.01%
      1998        -60.64       1,286.99         -0.37        1,286.62          13.43%
  Incep           -55.44       1,176.51         -0.37        1,176.14           6.94%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                     Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee             0.00    Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>            <C>          <C>       <C>            <C>          <C>
      1999     1.089308       918.014       1998     1.089308       0.000        918.014   1.232863491    1,131.79
      1998     0.914216     1,093.833       1998     0.914216       0.000      1,093.833   1.232863491    1,348.55
  Incep        1.000000     1,000.000       N/A      0.000000       0.000      1,000.000   1.232863491    1,232.86

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                           Total Accum                   Value After       Annual
                           Value After       Full         Deduction         Total
                            Deduction      Surrender         For           Return
  End of      Surrender      For Surr        Admin        Admin Fee           n
   Qtr         Charge         Charge          Fee           (ERV)       P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>            <C>              <C>               <C>         <C>               <C>
      1999                      1,131.79          0.00        1,131.79          13.18%
      1998                      1,348.55          0.00        1,348.55          16.13%
  Incep                         1,232.86          0.00        1,232.86           9.05%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          JANUS ASPEN AGGRESSIVE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                   For          Units
                           Units      Year of     Annual      (Deducted)     Total                     Total      Surrender
  End of      Unit       Purchased     Admin    Admin Fee     For Annual     Accum      09/30/00       Accum       Charge
   Qtr        Value     For $1,000      Fee          -$0.47   Admin Fee      Units     Unit Value      Value        Calc
--------------------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>         <C>         <C>               <C>      <C>          <C>         <C>        <C>
   1999       2.823945       354.115   1999        2.823945         -0.166    353.949      4.422309    1,565.27      7%
   1998       1.497447       667.803   1998        1.497447         -0.314    667.323      4.422309    2,951.11      6%
   1997       1.489615       671.314   1997        1.489615         -0.316    670.518      4.422309    2,965.24   90% * 5%
   1996       1.398714       714.942   1996        1.398714         -0.336    713.810      4.422309    3,156.69   90% * 4%
   1995       1.206465       828.868   1995        1.206465         -0.390    827.347      4.422309    3,658.78   90% * 3%
  Incep       1.000000     1,000.000    N/A        0.000000          0.000    998.479      4.422309    4,415.58     NONE

<CAPTION>

------------------------------------------------------------------------------
                                                    Total Accum    Average
                         Total Accum                Value After     Annual
                         Value After      Full       Deduction      Total
                          Deduction    Surrender        For         Return
  End of     Surrender     For Surr      Admin       Admin Fee        n
   Qtr        Charge        Charge        Fee          (ERV)     P(1+T) = ERV
------------------------------------------------------------------------------
<S>              <C>         <C>              <C>       <C>            <C>
   1999          (109.57)    1,455.70        -0.47      1,455.23       45.52%
   1998          (177.07)    2,774.04        -0.47      2,773.57       66.54%
   1997          (133.44)    2,831.80        -0.47      2,831.33       41.47%
   1996          (113.64)    3,043.05        -0.47      3,042.58       32.07%
   1995           (98.79)    3,559.99        -0.47      3,559.52       28.91%
  Incep             0.00     4,415.58        -0.47      4,415.11       32.06%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                   For          Units
                           Units      Year of     Annual      (Deducted)     Total                     Total      Surrender
  End of      Unit       Purchased     Admin    Admin Fee     For Annual     Accum      09/30/00       Accum       Charge
   Qtr        Value     For $1,000      Fee           $0.00   Admin Fee      Units     Unit Value      Value        Calc
--------------------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>         <C>         <C>               <C>    <C>            <C>         <C>         <C>
   1999       2.823945       354.115   1999        2.823945          0.000    354.115      4.422309    1,566.01
   1998       1.497447       667.803   1998        1.497447          0.000    667.803      4.422309    2,953.23
   1997       1.489615       671.314   1997        1.489615          0.000    671.314      4.422309    2,968.76
   1996       1.398714       714.942   1996        1.398714          0.000    714.942      4.422309    3,161.69
   1995       1.206465       828.868   1995        1.206465          0.000    828.868      4.422309    3,665.51
  Incep       1.000000     1,000.000    N/A        0.000000          0.000  1,000.000      4.422309    4,422.31

<CAPTION>

-------------------------------------------------------------------------------
                                                     Total Accum    Average
                          Total Accum                Value After     Annual
                          Value After      Full       Deduction      Total
                           Deduction    Surrender        For         Return
  End of      Surrender     For Surr      Admin       Admin Fee        n
   Qtr         Charge        Charge        Fee          (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------
<S>           <C>             <C>              <C>       <C>            <C>
   1999                       1,566.01         0.00      1,566.01       56.60%
   1998                       2,953.23         0.00      2,953.23       71.85%
   1997                       2,968.76         0.00      2,968.76       43.72%
   1996                       3,161.69         0.00      3,161.69       33.35%
   1995                       3,665.51         0.00      3,665.51       29.67%
  Incep                       4,422.31         0.00      4,422.31       32.12%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          JANUS ASPEN AGGRESSIVE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                   For          Units
                           Units      Year of     Annual      (Deducted)     Total                     Total      Surrender
  End of      Unit       Purchased     Admin    Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
   Qtr        Value     For $1,000      Fee          -$0.60   Admin Fee      Units     Unit Value      Value        Calc
--------------------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>         <C>         <C>               <C>      <C>          <C>         <C>        <C>
   1999       2.823945       354.115   1999        2.823945         -0.212    353.903      4.422309    1,565.07   90% * 8%
   1998       1.497447       667.803   1998        1.497447         -0.401    667.190      4.422309    2,950.52   90% * 7%
   1997       1.489615       671.314   1997        1.489615         -0.403    670.298      4.422309    2,964.27   90% * 6%
   1996       1.398714       714.942   1996        1.398714         -0.429    713.497      4.422309    3,155.30   90% * 5%
   1995       1.206465       828.868   1995        1.206465         -0.497    826.926      4.422309    3,656.92   90% * 4%
  Incep       1.000000     1,000.000    N/A        0.000000          0.000    998.058      4.422309    4,413.72   90% * 3%

<CAPTION>

-------------------------------------------------------------------------------
                                                     Total Accum    Average
                          Total Accum                Value After     Annual
                          Value After      Full       Deduction      Total
                           Deduction    Surrender        For         Return
  End of      Surrender     For Surr      Admin       Admin Fee        n
   Qtr         Charge        Charge        Fee          (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------
<S>               <C>         <C>              <C>       <C>            <C>
   1999           (112.69)    1,452.38        -0.60      1,451.78       45.17%
   1998           (185.88)    2,764.64        -0.60      2,764.04       66.25%
   1997           (160.07)    2,804.20        -0.60      2,803.60       41.01%
   1996           (141.99)    3,013.31        -0.60      3,012.71       31.75%
   1995           (131.65)    3,525.27        -0.60      3,524.67       28.65%
  Incep           (119.17)    4,294.55        -0.60      4,293.95       31.37%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
--------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                   For          Units
                           Units      Year of     Annual      (Deducted)     Total                     Total      Surrender
  End of      Unit       Purchased     Admin    Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
   Qtr        Value     For $1,000      Fee           $0.00   Admin Fee      Units     Unit Value      Value        Calc
--------------------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>         <C>         <C>               <C>      <C>          <C>         <C>         <C>
   1999       2.823945       354.115   1999        2.823945          0.000    354.115      4.422309    1,566.01
   1998       1.497447       667.803   1998        1.497447          0.000    667.803      4.422309    2,953.23
   1997       1.489615       671.314   1997        1.489615          0.000    671.314      4.422309    2,968.76
   1996       1.398714       714.942   1996        1.398714          0.000    714.942      4.422309    3,161.69
   1995       1.206465       828.868   1995        1.206465          0.000    828.868      4.422309    3,665.51
  Incep       1.000000     1,000.000    N/A        0.000000          0.000  1,000.000      4.422309    4,422.31

<CAPTION>

--------------------------------------------------------------------------------
                                                      Total Accum    Average
                           Total Accum                Value After     Annual
                           Value After      Full       Deduction      Total
                            Deduction    Surrender        For         Return
  End of       Surrender     For Surr      Admin       Admin Fee        n
   Qtr          Charge        Charge        Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>             <C>            <C>              <C>       <C>            <C>
   1999                        1,566.01         0.00      1,566.01       56.60%
   1998                        2,953.23         0.00      2,953.23       71.85%
   1997                        2,968.76         0.00      2,968.76       43.72%
   1996                        3,161.69         0.00      3,161.69       33.35%
   1995                        3,665.51         0.00      3,665.51       29.67%
  Incep                        4,422.31         0.00      4,422.31       32.12%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          JANUS ASPEN AGGRESSIVE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245

<TABLE>
<CAPTION>
GROUP DEFERRED
--------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                   For          Units
                           Units      Year of     Annual      (Deducted)     Total                     Total      Surrender
  End of      Unit       Purchased     Admin    Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
   Qtr        Value     For $1,000      Fee          -$0.37   Admin Fee      Units     Unit Value      Value        Calc
--------------------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>         <C>         <C>               <C>      <C>          <C>         <C>        <C>
1999          2.823945       354.115   1999        2.823945         -0.131    353.984      4.422309    1,565.43   90% * 5%
1998          1.497447       667.803   1998        1.497447         -0.247    667.425      4.422309    2,951.56   90% * 5%
1997          1.489615       671.314   1997        1.489615         -0.248    670.688      4.422309    2,965.99   90% * 5%
1996          1.398714       714.942   1996        1.398714         -0.265    714.051      4.422309    3,157.75   90% * 5%
1995          1.206465       828.868   1995        1.206465         -0.307    827.670      4.422309    3,660.21   90% * 3%
  Incep       1.000000     1,000.000    N/A        0.000000          0.000    998.802      4.422309    4,417.01   90% * 3%

<CAPTION>

--------------------------------------------------------------------------------
                                                      Total Accum    Average
                           Total Accum                Value After     Annual
                           Value After      Full       Deduction      Total
                            Deduction    Surrender        For         Return
  End of       Surrender     For Surr      Admin       Admin Fee        n
   Qtr          Charge        Charge        Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------
<S>                <C>         <C>             <C>        <C>            <C>
1999                -70.44     1,494.99        -0.37      1,494.62       49.46%
1998               -132.82     2,818.74        -0.37      2,818.37       67.88%
1997               -133.47     2,832.52        -0.37      2,832.15       41.48%
1996               -142.10     3,015.65        -0.37      3,015.28       31.77%
1995                -98.83     3,561.38        -0.37      3,561.01       28.92%
  Incep            -119.26     4,297.75        -0.37      4,297.38       31.39%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
---------------------------------------------------------------------------------------------------------------------------------

                                                Unit Value      Accum
                           Accum                   For          Units
                           Units      Year of     Annual      (Deducted)     Total                     Total      Surrender
  End of      Unit       Purchased     Admin    Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
   Qtr        Value     For $1,000      Fee           $0.00   Admin Fee      Units     Unit Value      Value        Calc
---------------------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>         <C>         <C>               <C>    <C>            <C>         <C>            <C>
1999          2.823945       354.115   1999        2.823945          0.000    354.115      4.422309    1,566.01
1998          1.497447       667.803   1998        1.497447          0.000    667.803      4.422309    2,953.23
1997          1.489615       671.314   1997        1.489615          0.000    671.314      4.422309    2,968.76
1996          1.398714       714.942   1996        1.398714          0.000    714.942      4.422309    3,161.69
1995          1.206465       828.868   1995        1.206465          0.000    828.868      4.422309    3,665.51
  Incep       1.000000     1,000.000    N/A        0.000000          0.000  1,000.000      4.422309    4,422.31

<CAPTION>

------------------------------------------------------------------------------
                                                    Total Accum    Average
                         Total Accum                Value After     Annual
                         Value After      Full       Deduction      Total
                          Deduction    Surrender        For         Return
  End of     Surrender     For Surr      Admin       Admin Fee        n
   Qtr        Charge        Charge        Fee          (ERV)     P(1+T) = ERV
------------------------------------------------------------------------------
<S>            <C>           <C>              <C>       <C>            <C>
1999                         1,566.01         0.00      1,566.01       56.60%
1998                         2,953.23         0.00      2,953.23       71.85%
1997                         2,968.76         0.00      2,968.76       43.72%
1996                         3,161.69         0.00      3,161.69       33.35%
1995                         3,665.51         0.00      3,665.51       29.67%
  Incep                      4,422.31         0.00      4,422.31       32.12%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               JANUS ASPEN GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                    Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00        Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.47    Admin Fee      Units     Unit Value     Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>               <C>       <C>         <C>          <C>        <C>
   1999       2.590723        385.993   1999        2.590723          -0.181    385.812     3.262786     1,258.82      7%
   1998       1.758163        568.775   1998        1.758163          -0.267    568.326     3.262786     1,854.33      6%
   1997       1.689821        591.779   1997        1.689821          -0.278    591.052     3.262786     1,928.48   90% * 5%
   1996       1.342234        745.027   1996        1.342234          -0.350    743.950     3.262786     2,427.35   90% * 4%
   1995       1.118160        894.326   1995        1.118160          -0.420    892.829     3.262786     2,913.11   90% * 3%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    998.503     3.262786     3,257.90     NONE

<CAPTION>

---------------------------------------------------------------------------------
                                                     Total Accum     Average
                          Total Accum                Value After      Annual
                          Value After      Full       Deduction       Total
                           Deduction     Surrender       For          Return
  End of     Surrender      For Surr       Admin      Admin Fee         n
   Qtr        Charge         Charge         Fee         (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------
<S>              <C>           <C>            <C>        <C>              <C>
   1999           (88.12)      1,170.70       -0.47      1,170.23         17.02%
   1998          (111.26)      1,743.07       -0.47      1,742.60         32.01%
   1997           (86.78)      1,841.70       -0.47      1,841.23         22.57%
   1996           (87.38)      2,339.97       -0.47      2,339.50         23.67%
   1995           (78.65)      2,834.46       -0.47      2,833.99         23.16%
  Incep             0.00       3,257.90       -0.47      3,257.43         24.75%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
---------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                    Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00        Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units     Unit Value     Value         Calc
---------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>                <C>    <C>           <C>          <C>          <C>
   1999       2.590723        385.993   1999        2.590723           0.000    385.993     3.262786     1,259.41
   1998       1.758163        568.775   1998        1.758163           0.000    568.775     3.262786     1,855.79
   1997       1.689821        591.779   1997        1.689821           0.000    591.779     3.262786     1,930.85
   1996       1.342234        745.027   1996        1.342234           0.000    745.027     3.262786     2,430.86
   1995       1.118160        894.326   1995        1.118160           0.000    894.326     3.262786     2,917.99
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000     3.262786     3,262.79

<CAPTION>

-------------------------------------------------------------------------------------
                                                         Total Accum     Average
                              Total Accum                Value After      Annual
                              Value After      Full       Deduction       Total
                               Deduction     Surrender       For          Return
  End of         Surrender      For Surr       Admin      Admin Fee         n
   Qtr            Charge         Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                <C>             <C>             <C>       <C>              <C>
   1999                            1,259.41        0.00      1,259.41         25.94%
   1998                            1,855.79        0.00      1,855.79         36.23%
   1997                            1,930.85        0.00      1,930.85         24.52%
   1996                            2,430.86        0.00      2,430.86         24.86%
   1995                            2,917.99        0.00      2,917.99         23.88%
  Incep                            3,262.79        0.00      3,262.79         24.80%

</TABLE>


<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               JANUS ASPEN GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                    Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00        Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.60    Admin Fee      Units     Unit Value     Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>                <C>      <C>         <C>          <C>        <C>
1999          2.590723        385.993   1999        2.590723          -0.232    385.761     3.262786     1,258.66   90% * 8%
1998          1.758163        568.775   1998        1.758163          -0.341    568.202     3.262786     1,853.92   90% * 7%
1997          1.689821        591.779   1997        1.689821          -0.355    590.851     3.262786     1,927.82   90% * 6%
1996          1.342234        745.027   1996        1.342234          -0.447    743.652     3.262786     2,426.38   90% * 5%
1995          1.118160        894.326   1995        1.118160          -0.537    892.414     3.262786     2,911.76   90% * 4%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    998.088     3.262786     3,256.55   90% * 3%

<CAPTION>

--------------------------------------------------------------------------------
                                                    Total Accum     Average
                         Total Accum                Value After      Annual
                         Value After      Full       Deduction       Total
                          Deduction     Surrender       For          Return
  End of    Surrender      For Surr       Admin      Admin Fee         n
   Qtr       Charge         Charge         Fee         (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------
<S>             <C>           <C>            <C>        <C>              <C>
1999             (90.62)      1,168.04       -0.60      1,167.44         16.74%
1998            (116.80)      1,737.12       -0.60      1,736.52         31.78%
1997            (104.10)      1,823.72       -0.60      1,823.12         22.16%
1996            (109.19)      2,317.19       -0.60      2,316.59         23.37%
1995            (104.82)      2,806.94       -0.60      2,806.34         22.92%
  Incep          (87.93)      3,168.62       -0.60      3,168.02         24.10%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                    Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00        Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units     Unit Value     Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>                <C>    <C>           <C>          <C>          <C>
1999          2.590723        385.993   1998        2.590723           0.000    385.993     3.262786     1,259.41
1998          1.758163        568.775   1998        1.758163           0.000    568.775     3.262786     1,855.79
1997          1.689821        591.779   1997        1.689821           0.000    591.779     3.262786     1,930.85
1996          1.342234        745.027   1996        1.342234           0.000    745.027     3.262786     2,430.86
1995          1.118160        894.326   1995        1.118160           0.000    894.326     3.262786     2,917.99
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000     3.262786     3,262.79

<CAPTION>

----------------------------------------------------------------------------------
                                                      Total Accum     Average
                           Total Accum                Value After      Annual
                           Value After      Full       Deduction       Total
                            Deduction     Surrender       For          Return
  End of      Surrender      For Surr       Admin      Admin Fee         n
   Qtr         Charge         Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------
<S>            <C>              <C>             <C>       <C>              <C>
1999                            1,259.41        0.00      1,259.41         25.94%
1998                            1,855.79        0.00      1,855.79         36.23%
1997                            1,930.85        0.00      1,930.85         24.52%
1996                            2,430.86        0.00      2,430.86         24.86%
1995                            2,917.99        0.00      2,917.99         23.88%
  Incep                         3,262.79        0.00      3,262.79         24.80%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               JANUS ASPEN GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                    Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00        Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.37    Admin Fee      Units     Unit Value     Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>                <C>      <C>         <C>          <C>        <C>
1999          2.590723        385.993   1999        2.590723          -0.143    385.850     3.262786     1,258.95   90% * 5%
1998          1.758163        568.775   1998        1.758163          -0.210    568.422     3.262786     1,854.64   90% * 5%
1997          1.689821        591.779   1997        1.689821          -0.219    591.207     3.262786     1,928.98   90% * 5%
1996          1.342234        745.027   1996        1.342234          -0.276    744.179     3.262786     2,428.10   90% * 5%
1995          1.118160        894.326   1995        1.118160          -0.331    893.147     3.262786     2,914.15   90% * 3%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    998.821     3.262786     3,258.94   90% * 3%

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum     Average
                            Total Accum                Value After      Annual
                            Value After      Full       Deduction       Total
                             Deduction     Surrender       For          Return
  End of       Surrender      For Surr       Admin      Admin Fee         n
   Qtr          Charge         Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>                <C>           <C>            <C>        <C>              <C>
1999                -56.65       1,202.30       -0.37      1,201.93         20.19%
1998                -83.46       1,771.18       -0.37      1,770.81         33.07%
1997                -86.80       1,842.18       -0.37      1,841.81         22.58%
1996               -109.26       2,318.84       -0.37      2,318.47         23.40%
1995                -78.68       2,835.47       -0.37      2,835.10         23.17%
  Incep             -87.99       3,170.95       -0.37      3,170.58         24.12%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                    Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00        Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units     Unit Value     Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>                <C>    <C>           <C>          <C>          <C>
1999          2.590723        385.993   1999        2.590723           0.000    385.993     3.262786     1,259.41
1998          1.758163        568.775   1998        1.758163           0.000    568.775     3.262786     1,855.79
1997          1.689821        591.779   1997        1.689821           0.000    591.779     3.262786     1,930.85
1996          1.342234        745.027   1996        1.342234           0.000    745.027     3.262786     2,430.86
1995          1.118160        894.326   1995        1.118160           0.000    894.326     3.262786     2,917.99
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000     3.262786     3,262.79

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum     Average
                            Total Accum                Value After      Annual
                            Value After      Full       Deduction       Total
                             Deduction     Surrender       For          Return
  End of       Surrender      For Surr       Admin      Admin Fee         n
   Qtr          Charge         Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>            <C>               <C>             <C>       <C>              <C>
1999                             1,259.41        0.00      1,259.41         25.94%
1998                             1,855.79        0.00      1,855.79         36.23%
1997                             1,930.85        0.00      1,930.85         24.52%
1996                             2,430.86        0.00      2,430.86         24.86%
1995                             2,917.99        0.00      2,917.99         23.88%
  Incep                          3,262.79        0.00      3,262.79         24.80%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          JANUS ASPEN WORLDWIDE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.47    Admin Fee      Units     Unit Value      Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>                <C>      <C>          <C>          <C>       <C>
   1999       2.747155        364.013   1999        2.747155          -0.171    363.842      3.739862     1,360.72      7%
   1998       1.985570        503.634   1998        1.985570          -0.237    503.226      3.739862     1,882.00      6%
   1997       1.950090        512.797   1997        1.950090          -0.241    512.148      3.739862     1,915.36   90% * 5%
   1996       1.477532        676.804   1996        1.477532          -0.318    675.837      3.739862     2,527.54   90% * 4%
   1995       1.155229        865.629   1995        1.155229          -0.407    864.255      3.739862     3,232.20   90% * 3%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    998.626      3.739862     3,734.72     NONE

<CAPTION>

----------------------------------------------------------------------------------
                                                       Total Accum     Average
                            Total Accum                Value After     Annual
                            Value After      Full       Deduction       Total
                             Deduction    Surrender        For         Return
  End of       Surrender     For Surr       Admin       Admin Fee         n
   Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------
<S>                <C>          <C>             <C>        <C>             <C>
   1999             (95.25)     1,265.47        -0.47      1,265.00        26.50%
   1998            (112.92)     1,769.08        -0.47      1,768.61        32.99%
   1997             (86.19)     1,829.17        -0.47      1,828.70        22.29%
   1996             (90.99)     2,436.55        -0.47      2,436.08        24.93%
   1995             (87.27)     3,144.93        -0.47      3,144.46        25.75%
  Incep               0.00      3,734.72        -0.47      3,734.25        27.98%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units     Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>         <C>         <C>                <C>    <C>            <C>          <C>          <C>
   1999       2.747155        364.013   1999        2.747155           0.000    364.013      3.739862     1,361.36
   1998       1.985570        503.634   1998        1.985570           0.000    503.634      3.739862     1,883.52
   1997       1.950090        512.797   1997        1.950090           0.000    512.797      3.739862     1,917.79
   1996       1.477532        676.804   1996        1.477532           0.000    676.804      3.739862     2,531.15
   1995       1.155229        865.629   1995        1.155229           0.000    865.629      3.739862     3,237.33
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000      3.739862     3,739.86

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
  End of           Surrender     For Surr       Admin       Admin Fee         n
   Qtr              Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                 <C>            <C>              <C>       <C>             <C>
   1999                             1,361.36         0.00      1,361.36        36.14%
   1998                             1,883.52         0.00      1,883.52        37.24%
   1997                             1,917.79         0.00      1,917.79        24.24%
   1996                             2,531.15         0.00      2,531.15        26.13%
   1995                             3,237.33         0.00      3,237.33        26.48%
  Incep                             3,739.86         0.00      3,739.86        28.04%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          JANUS ASPEN WORLDWIDE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.60    Admin Fee      Units     Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>             <C>        <C>        <C>                <C>      <C>          <C>          <C>        <C>
1999          2.747155        364.013    1999       2.747155          -0.218    363.795      3.739862     1,360.54   90% * 8%
1998          1.985570        503.634    1998       1.985570          -0.302    503.113      3.739862     1,881.57   90% * 7%
1997          1.950090        512.797    1997       1.950090          -0.308    511.969      3.739862     1,914.69   90% * 6%
1996          1.477532        676.804    1996       1.477532          -0.406    675.570      3.739862     2,526.54   90% * 5%
1995          1.155229        865.629    1995       1.155229          -0.519    863.875      3.739862     3,230.77   90% * 4%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    998.246      3.739862     3,733.30   90% * 3%

<CAPTION>

----------------------------------------------------------------------------------
                                                       Total Accum     Average
                            Total Accum                Value After     Annual
                            Value After      Full       Deduction       Total
                             Deduction    Surrender        For         Return
  End of       Surrender     For Surr       Admin       Admin Fee         n
   Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------
<S>                <C>          <C>             <C>        <C>             <C>
1999                (97.96)     1,262.58        -0.60      1,261.98        26.20%
1998               (118.54)     1,763.03        -0.60      1,762.43        32.76%
1997               (103.39)     1,811.30        -0.60      1,810.70        21.89%
1996               (113.69)     2,412.85        -0.60      2,412.25        24.63%
1995               (116.31)     3,114.46        -0.60      3,113.86        25.50%
  Incep            (100.80)     3,632.50        -0.60      3,631.90        27.32%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
-----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units     Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>                <C>    <C>            <C>          <C>            <C>
1999          2.747155        364.013    1999       2.747155           0.000    364.013      3.739862     1,361.36
1998          1.985570        503.634    1998       1.985570           0.000    503.634      3.739862     1,883.52
1997          1.950090        512.797    1997       1.950090           0.000    512.797      3.739862     1,917.79
1996          1.477532        676.804    1996       1.477532           0.000    676.804      3.739862     2,531.15
1995          1.155229        865.629    1995       1.155229           0.000    865.629      3.739862     3,237.33
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000      3.739862     3,739.86

<CAPTION>

-----------------------------------------------------------------------------------
                                                        Total Accum     Average
                             Total Accum                Value After     Annual
                             Value After      Full       Deduction       Total
                              Deduction    Surrender        For         Return
  End of        Surrender     For Surr       Admin       Admin Fee         n
   Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>               <C>            <C>              <C>       <C>             <C>
1999                             1,361.36         0.00      1,361.36        36.14%
1998                             1,883.52         0.00      1,883.52        37.24%
1997                             1,917.79         0.00      1,917.79        24.24%
1996                             2,531.15         0.00      2,531.15        26.13%
1995                             3,237.33         0.00      3,237.33        26.48%
  Incep                          3,739.86         0.00      3,739.86        28.04%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          JANUS ASPEN WORLDWIDE GROWTH
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
-----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.37    Admin Fee      Units     Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>                <C>      <C>          <C>          <C>        <C>
1999          2.747155        364.013    1999       2.747155          -0.135    363.878      3.739862     1,360.85   90% * 5%
1998          1.985570        503.634    1998       1.985570          -0.186    503.313      3.739862     1,882.32   90% * 5%
1997          1.950090        512.797    1997       1.950090          -0.190    512.286      3.739862     1,915.88   90% * 5%
1996          1.477532        676.804    1996       1.477532          -0.250    676.043      3.739862     2,528.31   90% * 5%
1995          1.155229        865.629    1995       1.155229          -0.320    864.548      3.739862     3,233.29   90% * 3%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    998.919      3.739862     3,735.82   90% * 3%

<CAPTION>

-----------------------------------------------------------------------------------
                                                        Total Accum     Average
                             Total Accum                Value After     Annual
                             Value After      Full       Deduction       Total
                              Deduction    Surrender        For         Return
  End of        Surrender     For Surr       Admin       Admin Fee         n
   Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>                 <C>          <C>             <C>        <C>             <C>
1999                 -61.24      1,299.61        -0.37      1,299.24        29.92%
1998                 -84.70      1,797.62        -0.37      1,797.25        34.06%
1997                 -86.21      1,829.67        -0.37      1,829.30        22.30%
1996                -113.77      2,414.54        -0.37      2,414.17        24.65%
1995                 -87.30      3,145.99        -0.37      3,145.62        25.76%
  Incep             -100.87      3,634.95        -0.37      3,634.58        27.34%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                    For           Units
                           Units       Year of     Annual      (Deducted)      Total                     Total       Surrender
  End of      Unit       Purchased      Admin    Admin Fee     For Annual      Accum    09/30/00         Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units     Unit Value      Value         Calc
----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>             <C>        <C>        <C>                <C>    <C>            <C>          <C>          <C>
1999          2.747155        364.013    1999       2.747155           0.000    364.013      3.739862     1,361.36
1998          1.985570        503.634    1998       1.985570           0.000    503.634      3.739862     1,883.52
1997          1.950090        512.797    1997       1.950090           0.000    512.797      3.739862     1,917.79
1996          1.477532        676.804    1996       1.477532           0.000    676.804      3.739862     2,531.15
1995          1.155229        865.629    1995       1.155229           0.000    865.629      3.739862     3,237.33
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000      3.739862     3,739.86

<CAPTION>

----------------------------------------------------------------------------------
                                                       Total Accum     Average
                            Total Accum                Value After     Annual
                            Value After      Full       Deduction       Total
                             Deduction    Surrender        For         Return
  End of       Surrender     For Surr       Admin       Admin Fee         n
   Qtr          Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------
<S>             <C>             <C>              <C>       <C>             <C>
1999                            1,361.36         0.00      1,361.36        36.14%
1998                            1,883.52         0.00      1,883.52        37.24%
1997                            1,917.79         0.00      1,917.79        24.24%
1996                            2,531.15         0.00      2,531.15        26.13%
1995                            3,237.33         0.00      3,237.33        26.48%
  Incep                         3,739.86         0.00      3,739.86        28.04%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               LAZARD EQUITY FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.47    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>               <C>     <C>             <C>          <C>        <C>
   1999       1.060496        942.955    1998       1.060496          -0.443    942.512       1.125809     1,061.09      7%
   1998       0.889657      1,124.029    1998       0.889657          -0.528  1,123.058       1.125809     1,264.35      6%
  Incept      1.000000      1,000.000    N/A        0.000000           0.000    999.029       1.125809     1,124.72   90% * 5%

<CAPTION>

-------------------------------------------------------------------------------------
                                                         Total Accum     Average
                            Total Accum                  Value After      Annual
                            Value After       Full        Deduction       Total
                             Deduction      Surrender        For          Return
  End of       Surrender      For Surr        Admin       Admin Fee         n
   Qtr          Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>                 <C>          <C>              <C>        <C>              <C>
   1999             (74.28)        986.81         -0.47        986.34         -1.36%
   1998             (75.86)      1,188.49         -0.47      1,188.02          9.00%
  Incept            (50.61)      1,074.11         -0.47      1,073.64          2.98%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>                <C>    <C>             <C>          <C>          <C>
   1999       1.060496        942.955    1998       1.060496           0.000    942.955       1.125809     1,061.59
   1998       0.889657      1,124.029    1998       0.889657           0.000  1,124.029       1.125809     1,265.44
  Incept      1.000000      1,000.000    N/A        0.000000           0.000  1,000.000       1.125809     1,125.81

<CAPTION>

-------------------------------------------------------------------------------------
                                                         Total Accum     Average
                            Total Accum                  Value After      Annual
                            Value After       Full        Deduction       Total
                             Deduction      Surrender        For          Return
  End of       Surrender      For Surr        Admin       Admin Fee         n
   Qtr          Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>               <C>            <C>               <C>       <C>              <C>
   1999                          1,061.59          0.00      1,061.59          6.16%
   1998                          1,265.44          0.00      1,265.44         12.49%
  Incept                         1,125.81          0.00      1,125.81          5.03%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               LAZARD EQUITY FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.60    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>               <C>     <C>             <C>          <C>        <C>
   1999       1.060496        942.955    1998       1.060496          -0.443    942.512       1.125809     1,061.09   90% * 8%
   1998       0.889657      1,124.029    1998       0.889657          -0.528  1,123.058       1.125809     1,264.35   90% * 7%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    999.029       1.125809     1,124.72   90% * 6%

<CAPTION>

------------------------------------------------------------------------------------
                                                        Total Accum     Average
                           Total Accum                  Value After      Annual
                           Value After       Full        Deduction       Total
                            Deduction      Surrender        For          Return
  End of      Surrender      For Surr        Admin       Admin Fee         n
   Qtr         Charge         Charge          Fee          (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                <C>            <C>            <C>        <C>              <C>
   1999            (76.40)        984.69         -0.60        984.09         -1.60%
   1998            (79.65)      1,184.70         -0.60      1,184.10          8.82%
  Incep            (60.73)      1,063.99         -0.60      1,063.39          2.57%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>                <C>    <C>             <C>          <C>         <C>
   1999       1.060496        942.955    1998       1.060496           0.000    942.955       1.125809     1,061.59
   1998       0.889657      1,124.029    1998       0.889657           0.000  1,124.029       1.125809     1,265.44
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000       1.125809     1,125.81

<CAPTION>

-------------------------------------------------------------------------------------
                                                         Total Accum     Average
                            Total Accum                  Value After      Annual
                            Value After       Full        Deduction       Total
                             Deduction      Surrender        For          Return
  End of       Surrender      For Surr        Admin       Admin Fee         n
   Qtr          Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>             <C>              <C>               <C>       <C>              <C>
   1999                          1,061.59          0.00      1,061.59          6.16%
   1998                          1,265.44          0.00      1,265.44         12.49%
  Incep                          1,125.81          0.00      1,125.81          5.03%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               LAZARD EQUITY FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.37    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>             <C>     <C>               <C>     <C>             <C>          <C>        <C>
      1999    1.060496        942.955       1998    1.060496          -0.443    942.512       1.125809     1,061.09   90% * 5%
      1998    0.889657      1,124.029       1998    0.889657          -0.528  1,123.058       1.125809     1,264.35   90% * 5%
  Incep       1.000000      1,000.000       N/A     0.000000           0.000    999.029       1.125809     1,124.72   90% * 5%

<CAPTION>

------------------------------------------------------------------------------------
                                                        Total Accum     Average
                           Total Accum                  Value After      Annual
                           Value After       Full        Deduction       Total
                            Deduction      Surrender        For          Return
  End of      Surrender      For Surr        Admin       Admin Fee         n
   Qtr         Charge         Charge          Fee          (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>                <C>          <C>              <C>        <C>               <C>
      1999         -47.75       1,013.34         -0.37      1,012.97          1.30%
      1998         -56.90       1,207.45         -0.37      1,207.08          9.87%
  Incep            -50.61       1,074.11         -0.37      1,073.74          3.00%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>             <C>     <C>                <C>      <C>           <C>          <C>         <C>
      1999    1.060496        942.955       1998    1.060496           0.000    942.955       1.125809     1,061.59
      1998    0.889657      1,124.029       1998    0.889657           0.000  1,124.029       1.125809     1,265.44
  Incep       1.000000      1,000.000       N/A     0.000000           0.000  1,000.000       1.125809     1,125.81

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum     Average
                          Total Accum                  Value After      Annual
                          Value After       Full        Deduction       Total
                           Deduction      Surrender        For          Return
  End of     Surrender      For Surr        Admin       Admin Fee         n
   Qtr        Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>             <C>            <C>               <C>       <C>               <C>
      1999                     1,061.59          0.00      1,061.59          6.16%
      1998                     1,265.44          0.00      1,265.44         12.49%
  Incep                        1,125.81          0.00      1,125.81          5.03%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              LAZARD SMALL CAP FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                        Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00            Accum        Charge
   Qtr        Value      For $1,000      Fee           -$0.47    Admin Fee      Units       Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>                <C>    <C>            <C>            <C>         <C>
   1999        0.883468     1,131.903    1998        0.883468          -0.532  1,131.371      1.016078489    1,149.56       7%
   1998        0.766679     1,304.327    1998        0.766679          -0.613  1,303.182      1.016078489    1,324.14       6%
  Incept       1.000000     1,000.000    N/A         0.000000           0.000    998.855      1.016078489    1,014.92    90% * 5%

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum      Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction        Total
                               Deduction      Surrender        For          Return
  End of         Surrender      For Surr        Admin       Admin Fee          n
   Qtr            Charge         Charge          Fee          (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                   <C>          <C>              <C>         <C>             <C>
   1999               (80.47)      1,069.09         -0.47       1,068.62         6.87%
   1998               (79.45)      1,244.69         -0.47       1,244.22        11.54%
  Incept              (45.67)        969.25         -0.47         968.78        -1.30%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                        Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00            Accum        Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units       Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>                <C>    <C>            <C>            <C>        <C>
   1999        0.883468     1,131.903    1998        0.883468           0.000  1,131.903      1.016078489    1,150.10
   1998        0.766679     1,304.327    1998        0.766679           0.000  1,304.327      1.016078489    1,325.30
  Incept       1.000000     1,000.000    N/A         0.000000           0.000  1,000.000      1.016078489    1,016.08

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum      Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction        Total
                               Deduction      Surrender        For          Return
  End of         Surrender      For Surr        Admin       Admin Fee          n
   Qtr            Charge         Charge          Fee          (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>               <C>              <C>               <C>        <C>             <C>
   1999                            1,150.10          0.00       1,150.10        15.01%
   1998                            1,325.30          0.00       1,325.30        15.12%
  Incept                           1,016.08          0.00       1,016.08         0.66%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              LAZARD SMALL CAP FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                        Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00            Accum        Charge
   Qtr        Value      For $1,000      Fee           -$0.60    Admin Fee      Units       Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>                <C>    <C>            <C>            <C>         <C>
   1999        0.883468     1,131.903    1998        0.883468          -0.532  1,131.371      1.016078489    1,149.56    90% * 8%
   1998        0.766679     1,304.327    1998        0.766679          -0.613  1,303.182      1.016078489    1,324.14    90% * 7%
  Incep        1.000000     1,000.000    N/A         0.000000           0.000    998.855      1.016078489    1,014.92    90% * 6%

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum      Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction        Total
                               Deduction      Surrender        For          Return
  End of         Surrender      For Surr        Admin       Admin Fee          n
   Qtr            Charge         Charge          Fee          (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                   <C>          <C>               <C>        <C>              <C>
   1999               (82.77)      1,066.79         -0.60       1,066.19         6.61%
   1998               (83.42)      1,240.72         -0.60       1,240.12        11.36%
  Incep               (54.81)        960.11         -0.60         959.51        -1.70%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                        Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00            Accum        Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units       Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>                <C>    <C>            <C>            <C>       <C>
   1999        0.883468     1,131.903    1998        0.883468           0.000  1,131.903      1.016078489    1,150.10
   1998        0.766679     1,304.327    1998        0.766679           0.000  1,304.327      1.016078489    1,325.30
  Incep        1.000000     1,000.000    N/A         0.000000           0.000  1,000.000      1.016078489    1,016.08

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum      Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction        Total
                               Deduction      Surrender        For          Return
  End of         Surrender      For Surr        Admin       Admin Fee          n
   Qtr            Charge         Charge          Fee          (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>               <C>              <C>               <C>        <C>             <C>
   1999                            1,150.10          0.00       1,150.10        15.01%
   1998                            1,325.30          0.00       1,325.30        15.12%
  Incep                            1,016.08          0.00       1,016.08         0.66%

</TABLE>

<PAGE>



                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                              LAZARD SMALL CAP FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                        Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00            Accum        Charge
   Qtr        Value      For $1,000      Fee           -$0.37    Admin Fee      Units       Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>             <C>       <C>            <C>            <C>         <C>
      1999     0.883468     1,131.903       1998     0.883468       -0.532     1,131.371      1.016078489    1,149.56    90% * 5%
      1998     0.766679     1,304.327       1998     0.766679       -0.613     1,303.182      1.016078489    1,324.14    90% * 5%
  Incep        1.000000     1,000.000       N/A      0.000000        0.000       998.855      1.016078489    1,014.92    90% * 5%

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum      Average
                             Total Accum                  Value After      Annual
                             Value After       Full        Deduction        Total
                              Deduction      Surrender        For          Return
  End of        Surrender      For Surr        Admin       Admin Fee          n
   Qtr           Charge         Charge          Fee          (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>          <C>              <C>         <C>             <C>
      1999           -51.73       1,097.83         -0.37       1,097.46         9.76%
      1998           -59.59       1,264.55         -0.37       1,264.18        12.44%
  Incep              -45.67         969.25         -0.37         968.88        -1.28%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                        Total      Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00            Accum        Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units       Unit Value       Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>             <C>       <C>            <C>            <C>          <C>
      1999     0.883468     1,131.903       1998     0.883468        0.000     1,131.903      1.016078489    1,150.10
      1998     0.766679     1,304.327       1998     0.766679        0.000     1,304.327      1.016078489    1,325.30
  Incep        1.000000     1,000.000       N/A      0.000000        0.000     1,000.000      1.016078489    1,016.08

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum      Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction        Total
                               Deduction      Surrender        For          Return
  End of         Surrender      For Surr        Admin       Admin Fee          n
   Qtr            Charge         Charge          Fee          (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                  <C>           <C>               <C>        <C>             <C>
      1999                         1,150.10          0.00       1,150.10        15.01%
      1998                         1,325.30          0.00       1,325.30        15.12%
  Incep                            1,016.08          0.00       1,016.08          .66%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       LORD ABBETT GROWTH AND INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.47    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>               <C>     <C>          <C>             <C>        <C>
   1999       1.056964        946.106    1998       1.056964          -0.445    945.661    1.226485427     1,159.84      7%
   1998       0.863004      1,158.743    1998       0.863004          -0.545  1,157.754    1.226485427     1,419.97      6%
  Incept      1.000000      1,000.000    N/A        0.000000           0.000    999.011    1.226485427     1,225.27   90% * 5%

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum     Average
                             Total Accum                  Value After      Annual
                             Value After       Full        Deduction       Total
                              Deduction      Surrender        For          Return
  End of        Surrender      For Surr        Admin       Admin Fee         n
   Qtr           Charge         Charge          Fee          (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>          <C>               <C>       <C>               <C>
   1999              (81.19)      1,078.65         -0.47      1,078.18          7.82%
   1998              (85.20)      1,334.77         -0.47      1,334.30         15.51%
  Incept             (55.14)      1,170.13         -0.47      1,169.66          6.70%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>                <C>    <C>          <C>             <C>           <C>
   1999       1.056964        946.106    1998       1.056964           0.000    946.106    1.226485427     1,160.39
   1998       0.863004      1,158.743    1998       0.863004           0.000  1,158.743    1.226485427     1,421.18
  Incept      1.000000      1,000.000    N/A        0.000000           0.000  1,000.000    1.226485427     1,226.49

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum     Average
                          Total Accum                  Value After      Annual
                          Value After       Full        Deduction       Total
                           Deduction      Surrender        For          Return
  End of     Surrender      For Surr        Admin       Admin Fee         n
   Qtr        Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>            <C>             <C>               <C>       <C>              <C>
   1999                        1,160.39          0.00      1,160.39         16.04%
   1998                        1,421.18          0.00      1,421.18         19.21%
  Incept                       1,226.49          0.00      1,226.49          8.82%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       LORD ABBETT GROWTH AND INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.60    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>               <C>     <C>          <C>             <C>        <C>
   1999       1.056964        946.106    1998       1.056964          -0.445    945.661    1.226485427     1,159.84   90% * 8%
   1998       0.863004      1,158.743    1998       0.863004          -0.545  1,157.754    1.226485427     1,419.97   90% * 7%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    999.011    1.226485427     1,225.27   90% * 6%

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum     Average
                          Total Accum                  Value After      Annual
                          Value After       Full        Deduction       Total
                           Deduction      Surrender        For          Return
  End of     Surrender      For Surr        Admin       Admin Fee         n
   Qtr        Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>               <C>          <C>               <C>       <C>               <C>
   1999           (83.51)      1,076.33         -0.60      1,075.73          7.56%
   1998           (89.46)      1,330.51         -0.60      1,329.91         15.32%
  Incep           (66.16)      1,159.11         -0.60      1,158.51          6.26%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>                <C>    <C>          <C>             <C>         <C>
   1999       1.056964        946.106    1998       1.056964           0.000    946.106    1.226485427     1,160.39
   1998       0.863004      1,158.743    1998       0.863004           0.000  1,158.743    1.226485427     1,421.18
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000    1.226485427     1,226.49

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum     Average
                          Total Accum                  Value After      Annual
                          Value After       Full        Deduction       Total
                           Deduction      Surrender        For          Return
  End of     Surrender      For Surr        Admin       Admin Fee         n
   Qtr        Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>            <C>             <C>               <C>       <C>              <C>
   1999                        1,160.39          0.00      1,160.39         16.04%
   1998                        1,421.18          0.00      1,421.18         19.21%
  Incep                        1,226.49          0.00      1,226.49          8.82%

</TABLE>




<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                       LORD ABBETT GROWTH AND INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    09/30/00


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
-----------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee          -$0.37    Admin Fee      Units      Unit Value      Value         Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>               <C>     <C>          <C>             <C>        <C>
   1999       1.056964        946.106    1998       1.056964          -0.445    945.661    1.226485427     1,159.84   90% * 5%
   1998       0.863004      1,158.743    1998       0.863004          -0.545  1,157.754    1.226485427     1,419.97   90% * 5%
  Incep       1.000000      1,000.000    N/A        0.000000           0.000    999.011    1.226485427     1,225.27   90% * 5%

<CAPTION>

-----------------------------------------------------------------------------------
                                                       Total Accum     Average
                          Total Accum                  Value After      Annual
                          Value After       Full        Deduction       Total
                           Deduction      Surrender        For          Return
  End of     Surrender      For Surr        Admin       Admin Fee         n
   Qtr        Charge         Charge          Fee          (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------
<S>               <C>          <C>               <C>       <C>              <C>
   1999           (52.19)      1,107.65         -0.37      1,107.28         10.74%
   1998           (63.90)      1,356.07         -0.37      1,355.70         16.43%
  Incep           (55.14)      1,170.13         -0.37      1,169.76          6.71%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                 Unit Value       Accum
                           Accum                     For          Units
                           Units       Year of     Annual      (Deducted)      Total                      Total       Surrender
  End of      Unit       Purchased      Admin     Admin Fee    For Annual      Accum    09/30/00          Accum        Charge
   Qtr        Value      For $1,000      Fee           $0.00    Admin Fee      Units      Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>           <C>          <C>        <C>                <C>    <C>          <C>             <C>            <C>
   1999       1.056964        946.106    1998       1.056964           0.000    946.106    1.226485427     1,160.39
   1998       0.863004      1,158.743    1998       0.863004           0.000  1,158.743    1.226485427     1,421.18
  Incep       1.000000      1,000.000    N/A        0.000000           0.000  1,000.000    1.226485427     1,226.49

<CAPTION>

------------------------------------------------------------------------------------
                                                        Total Accum     Average
                           Total Accum                  Value After      Annual
                           Value After       Full        Deduction       Total
                            Deduction      Surrender        For          Return
  End of      Surrender      For Surr        Admin       Admin Fee         n
   Qtr         Charge         Charge          Fee          (ERV)      P(1+T) = ERV
------------------------------------------------------------------------------------
<S>            <C>              <C>               <C>       <C>              <C>
   1999                         1,160.39          0.00      1,160.39         16.04%
   1998                         1,421.18          0.00      1,421.18         19.21%
  Incep                         1,226.49          0.00      1,226.49          8.82%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                    MITCHELL HUTCHINS GROWTH AND INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                   9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                       Total       Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00           Accum         Charge
   Qtr        Value      For $1,000      Fee           -$0.47    Admin Fee      Units      Unit Value       Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>               <C>     <C>           <C>             <C>         <C>
   1999        0.964465     1,036.844    1998        0.964465          -0.487  1,036.357     1.035148893     1,072.78       7%
   1998        0.831428     1,202.750    1998        0.831428          -0.565  1,201.697     1.035148893     1,243.94       6%
  Incept       1.000000     1,000.000    N/A         0.000000           0.000    998.947     1.035148893     1,034.06    90% * 5%

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum     Average
                             Total Accum                  Value After      Annual
                             Value After       Full        Deduction       Total
                              Deduction     Surrender         For          Return
  End of        Surrender     For Surr        Admin        Admin Fee         n
   Qtr           Charge        Charge          Fee           (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>         <C>               <C>        <C>              <C>
   1999              (75.09)       997.69          -0.47        997.22         -0.27%
   1998              (74.64)     1,169.30          -0.47      1,168.83          8.11%
  Incept             (46.53)       987.53          -0.47        987.06         -0.53%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                       Total       Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00           Accum         Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units      Unit Value       Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>                <C>    <C>           <C>             <C>           <C>
   1999        0.964465     1,036.844    1998        0.964465           0.000  1,036.844     1.035148893     1,073.29
   1998        0.831428     1,202.750    1998        0.831428           0.000  1,202.750     1.035148893     1,245.03
  Incept       1.000000     1,000.000    N/A         0.000000           0.000  1,000.000     1.035148893     1,035.15

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum     Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction       Total
                               Deduction     Surrender         For          Return
  End of         Surrender     For Surr        Admin        Admin Fee         n
   Qtr            Charge        Charge          Fee           (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                <C>            <C>                <C>       <C>              <C>
   1999                           1,073.29           0.00      1,073.29          7.33%
   1998                           1,245.03           0.00      1,245.03         11.58%
  Incept                          1,035.15           0.00      1,035.15          1.44%

</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                    MITCHELL HUTCHINS GROWTH AND INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                   9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                       Total       Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00           Accum         Charge
   Qtr        Value      For $1,000      Fee           -$0.60    Admin Fee      Units      Unit Value       Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>                <C>    <C>           <C>             <C>         <C>
   1999        0.964465     1,036.844    1998        0.964465          -0.487  1,036.357     1.035148893     1,072.78    90% * 8%
   1998        0.831428     1,202.750    1998        0.831428          -0.565  1,201.697     1.035148893     1,243.94    90% * 7%
  Incep        1.000000     1,000.000    N/A         0.000000           0.000    998.947     1.035148893     1,034.06    90% * 6%

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum     Average
                             Total Accum                  Value After      Annual
                             Value After       Full        Deduction       Total
                              Deduction     Surrender         For          Return
  End of        Surrender     For Surr        Admin        Admin Fee         n
   Qtr           Charge        Charge          Fee           (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                   <C>        <C>               <C>        <C>              <C>
   1999              -77.24        995.54          -0.60        994.94         -0.51%
   1998              -78.37      1,165.57          -0.60      1,164.97          7.93%
  Incep              -55.84        978.22          -0.60        977.62         -0.94%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                       Total       Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00           Accum         Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units      Unit Value       Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>          <C>         <C>                <C>    <C>           <C>             <C>           <C>
   1999        0.964465     1,036.844    1998        0.964465           0.000  1,036.844     1.035148893     1,073.29
   1998        0.831428     1,202.750    1998        0.831428           0.000  1,202.750     1.035148893     1,245.03
  Incep        1.000000     1,000.000    N/A         0.000000           0.000  1,000.000     1.035148893     1,035.15

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum     Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction       Total
                               Deduction     Surrender         For          Return
  End of         Surrender     For Surr        Admin        Admin Fee         n
   Qtr            Charge        Charge          Fee           (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                 <C>           <C>                <C>       <C>              <C>
   1999                           1,073.29           0.00      1,073.29          7.33%
   1998                           1,245.03           0.00      1,245.03         11.58%
  Incep                           1,035.15           0.00      1,035.15          1.44%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                    MITCHELL HUTCHINS GROWTH AND INCOME FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                   9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                       Total       Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00           Accum         Charge
   Qtr        Value      For $1,000      Fee           -$0.37    Admin Fee      Units      Unit Value       Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>               <C>     <C>           <C>             <C>         <C>
      1999     0.964465     1,036.844       1998     0.964465          -0.487  1,036.357     1.035148893     1,072.78    90% * 5%
      1998     0.831428     1,202.750       1998     0.831428          -0.565  1,201.697     1.035148893     1,243.94    90% * 5%
  Incep        1.000000     1,000.000       N/A      0.000000           0.000    998.947     1.035148893     1,034.06    90% * 5%

<CAPTION>

----------------------------------------------------------------------------------------
                                                            Total Accum     Average
                               Total Accum                  Value After      Annual
                               Value After       Full        Deduction       Total
                                Deduction     Surrender         For          Return
  End of          Surrender     For Surr        Admin        Admin Fee         n
   Qtr             Charge        Charge          Fee           (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                    <C>         <C>               <C>        <C>              <C>
      1999             -48.28      1,024.50          -0.37      1,024.13          2.43%
      1998             -55.98      1,187.96          -0.37      1,187.59          8.98%
  Incep                -46.53        987.53          -0.37        987.16         -0.52%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                  Unit Value       Accum
                            Accum                    For           Units
                            Units      Year of      Annual      (Deducted)      Total                       Total       Surrender
  End of       Unit       Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00           Accum         Charge
   Qtr        Value      For $1,000      Fee            $0.00    Admin Fee      Units      Unit Value       Value          Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>          <C>             <C>      <C>                <C>    <C>           <C>             <C>          <C>
      1999     0.964465     1,036.844       1998     0.964465           0.000  1,036.844     1.035148893     1,073.29
      1998     0.831428     1,202.750       1998     0.831428           0.000  1,202.750     1.035148893     1,245.03
  Incep        1.000000     1,000.000       N/A      0.000000           0.000  1,000.000     1.035148893     1,035.15

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum     Average
                              Total Accum                  Value After      Annual
                              Value After       Full        Deduction       Total
                               Deduction     Surrender         For          Return
  End of         Surrender     For Surr        Admin        Admin Fee         n
   Qtr            Charge        Charge          Fee           (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>             <C>               <C>                <C>       <C>               <C>
      1999                        1,073.29           0.00      1,073.29          7.33%
      1998                        1,245.03           0.00      1,245.03         11.58%
  Incep                           1,035.15           0.00      1,035.15          1.44%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                  NEUBERGER & BERMAN LIMITED MATURITY BOND FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum      09/30/00       Accum        Charge
     Qtr          Value      For $1,000      Fee            (0.47)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>          <C>        <C>
    1999           1.084682       921.929    1999        1.084682         (0.433)   921.496      1.124039     1,035.80      7%
    1998           1.080585       925.425    1998        1.080585         (0.435)   924.557      1.124039     1,039.24      6%
    1997           1.035947       965.300    1997        1.035947         (0.454)   963.978      1.124039     1,083.55   90% * 5%
    Incep          1.000000     1,000.000    N/A         0.000000          0.000    998.678      1.124039     1,122.55   90% * 4%

<CAPTION>

----------------------------------------------------------------------------------------
                                                            Total Accum      Average
                                  Total Accum               Value After      Annual
                                  Value After     Full       Deduction        Total
                                   Deduction    Surrender       For          Return
   End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr              Charge        Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                       <C>         <C>            <C>         <C>             <C>
    1999                  (72.51)       963.29       (0.47)        962.82        -3.72%
    1998                  (62.35)       976.89       (0.47)        976.42        -1.19%
    1997                  (48.76)     1,034.79       (0.47)      1,034.32         1.13%
    Incep                 (40.41)     1,082.14       (0.47)      1,081.67         2.32%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum      09/30/00       Accum        Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>    <C>            <C>          <C>          <C>
    1999           1.084682       921.929    1999        1.084682          0.000    921.929      1.124039     1,036.28
    1998           1.080585       925.425    1998        1.080585          0.000    925.425      1.124039     1,040.21
    1997           1.035947       965.300    1997        1.035947          0.000    965.300      1.124039     1,085.04
    Incep          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.124039     1,124.04

<CAPTION>

-------------------------------------------------------------------------------------
                                                         Total Accum      Average
                               Total Accum               Value After      Annual
                               Value After     Full       Deduction        Total
                                Deduction    Surrender       For          Return
   End of         Surrender     For Surr       Admin      Admin Fee          n
     Qtr           Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>            <C>                 <C>             <C>        <C>              <C>
    1999                           1,036.28        0.00       1,036.28         3.63%
    1998                           1,040.21        0.00       1,040.21         1.99%
    1997                           1,085.04        0.00       1,085.04         2.76%
    Incep                          1,124.04        0.00       1,124.04         3.48%

</TABLE>



<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                  NEUBERGER & BERMAN LIMITED MATURITY BOND FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee            (0.60)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>          <C>        <C>
    1999           1.084682       921.929    1999        1.084682         (0.553)   921.376      1.124039     1,035.66   90% * 8%
    1998           1.080585       925.425    1998        1.080585         (0.555)   924.317      1.124039     1,038.97   90% * 7%
    1997           1.035947       965.300    1997        1.035947         (0.579)   963.612      1.124039     1,083.14   90% * 6%
    Incep          1.000000     1,000.000    N/A         0.000000          0.000    998.312      1.124039     1,122.14   90% * 5%

<CAPTION>

-----------------------------------------------------------------------------------------
                                                             Total Accum      Average
                                   Total Accum               Value After      Annual
                                   Value After     Full       Deduction        Total
                                    Deduction    Surrender       For          Return
   End of             Surrender     For Surr       Admin      Admin Fee          n
     Qtr               Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>            <C>         <C>         <C>            <C>         <C>             <C>
    1999                   (74.57)       961.09       (0.60)        960.49        -3.95%
    1998                   (65.46)       973.51       (0.60)        972.91        -1.36%
    1997                   (58.49)     1,024.65       (0.60)      1,024.05         0.79%
    Incep                  (50.50)     1,071.64       (0.60)      1,071.04         2.03%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>      <C>          <C>          <C>         <C>
    1999           1.084682       921.929    1999        1.084682          0.000    921.929      1.124039     1,036.28
    1998           1.080585       925.425    1998        1.080585          0.000    925.425      1.124039     1,040.21
    1997           1.035947       965.300    1997        1.035947          0.000    965.300      1.124039     1,085.04
    Incep          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.124039     1,124.04

<CAPTION>

----------------------------------------------------------------------------------------
                                                            Total Accum      Average
                                  Total Accum               Value After      Annual
                                  Value After     Full       Deduction        Total
                                   Deduction    Surrender       For          Return
   End of            Surrender     For Surr       Admin      Admin Fee          n
     Qtr              Charge        Charge         Fee         (ERV)      P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                 <C>               <C>             <C>        <C>              <C>
    1999                              1,036.28        0.00       1,036.28         3.63%
    1998                              1,040.21        0.00       1,040.21         1.99%
    1997                              1,085.04        0.00       1,085.04         2.76%
    Incep                             1,124.04        0.00       1,124.04         3.48%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                  NEUBERGER & BERMAN LIMITED MATURITY BOND FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee            (0.37)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>          <C>        <C>
    1999           1.084682       921.929    1999        1.084682         (0.341)   921.588      1.124039     1,035.90   90% * 5%
    1998           1.080585       925.425    1998        1.080585         (0.342)   924.741      1.124039     1,039.45   90% * 5%
    1997           1.035947       965.300    1997        1.035947         (0.357)   964.259      1.124039     1,083.87   90% * 5%
    Incep          1.000000     1,000.000    N/A         0.000000          0.000    999.300      1.124039     1,123.25   90% * 5%

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum      Average
                                Total Accum               Value After      Annual
                                Value After     Full       Deduction        Total
                                 Deduction    Surrender       For          Return
   End of          Surrender     For Surr       Admin      Admin Fee          n
     Qtr            Charge        Charge         Fee         (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                     <C>         <C>            <C>         <C>             <C>
    1999                (46.62)       989.28       (0.37)        988.91        -1.11%
    1998                (46.78)       992.67       (0.37)        992.30        -0.39%
    1997                (48.77)     1,035.10       (0.37)      1,034.73         1.14%
    Incep               (50.55)     1,072.70       (0.37)      1,072.33         2.05%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>    <C>            <C>          <C>          <C>
    1999           1.084682       921.929    1999        1.084682          0.000    921.929      1.124039     1,036.28
    1998           1.080585       925.425    1998        1.080585          0.000    925.425      1.124039     1,040.21
    1997           1.035947       965.300    1997        1.035947          0.000    965.300      1.124039     1,085.04
    Incep          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.124039     1,124.04

<CAPTION>

---------------------------------------------------------------------------------------
                                                           Total Accum      Average
                                 Total Accum               Value After      Annual
                                 Value After     Full       Deduction        Total
                                  Deduction    Surrender       For          Return
   End of           Surrender     For Surr       Admin      Admin Fee          n
     Qtr             Charge        Charge         Fee         (ERV)      P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                 <C>              <C>             <C>        <C>              <C>
    1999                             1,036.28        0.00       1,036.28         3.63%
    1998                             1,040.21        0.00       1,040.21         1.99%
    1997                             1,085.04        0.00       1,085.04         2.76%
    Incep                            1,124.04        0.00       1,124.04         3.48%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        NEUBERGER & BERMAN PARTNERS FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>

UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee            (0.47)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>             <C>      <C>              <C>       <C>          <C>          <C>        <C>
     1999          1.256241       796.026       1999     1.256241         (0.374)   795.652      1.355207     1,078.27      7%
     1998          1.111970       899.305       1998     1.111970         (0.423)   898.508      1.355207     1,217.66      6%
     1997          1.254197       797.323       1997     1.254197         (0.375)   796.151      1.355207     1,078.95   90% * 5%
    Incept         1.000000     1,000.000       N/A      0.000000          0.000    998.828      1.355207     1,353.62   90% * 4%

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                      <C>         <C>             <C>        <C>              <C>
     1999                (75.48)     1,002.79        (0.47)     1,002.32         0.24%
     1998                (73.06)     1,144.60        (0.47)     1,144.13         6.96%
     1997                (48.55)     1,030.40        (0.47)     1,029.93         0.99%
    Incept               (48.73)     1,304.89        (0.47)     1,304.42         8.08%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>             <C>      <C>               <C>    <C>            <C>          <C>           <C>
     1999          1.256241       796.026       1999     1.256241          0.000    796.026      1.355207     1,078.78
     1998          1.111970       899.305       1998     1.111970          0.000    899.305      1.355207     1,218.74
     1997          1.254197       797.323       1997     1.254197          0.000    797.323      1.355207     1,080.54
    Incept         1.000000     1,000.000       N/A      0.000000          0.000  1,000.000      1.355207     1,355.21

<CAPTION>

-----------------------------------------------------------------------------------------
                                                              Total Accum     Average
                                   Total Accum                Value After     Annual
                                   Value After      Full       Deduction       Total
                                    Deduction    Surrender        For         Return
    End of            Surrender     For Surr       Admin       Admin Fee         n
     Qtr               Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                  <C>               <C>              <C>       <C>              <C>
     1999                              1,078.78         0.00      1,078.78         7.88%
     1998                              1,218.74         0.00      1,218.74        10.40%
     1997                              1,080.54         0.00      1,080.54         2.62%
    Incept                             1,355.21         0.00      1,355.21         9.30%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        NEUBERGER & BERMAN PARTNERS FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee            (0.60)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>          <C>        <C>
     1999          1.256241       796.026    1999        1.256241         (0.478)   795.548      1.355207     1,078.13   90% * 8%
     1998          1.111970       899.305    1998        1.111970         (0.540)   898.288      1.355207     1,217.37   90% * 7%
     1997          1.254197       797.323    1997        1.254197         (0.478)   795.827      1.355207     1,078.51   90% * 6%
    Incep          1.000000     1,000.000    N/A         0.000000          0.000    998.504      1.355207     1,353.18   90% * 5%

<CAPTION>

----------------------------------------------------------------------------------------
                                                             Total Accum     Average
                                  Total Accum                Value After     Annual
                                  Value After      Full       Deduction       Total
                                   Deduction    Surrender        For         Return
    End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr              Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                       <C>         <C>             <C>          <C>            <C>
     1999                 (77.63)     1,000.50        (0.60)       999.90         0.00%
     1998                 (76.69)     1,140.68        (0.60)     1,140.08         6.77%
     1997                 (58.24)     1,020.27        (0.60)     1,019.67         0.66%
    Incep                 (60.89)     1,292.29        (0.60)     1,291.69         7.77%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>    <C>            <C>          <C>         <C>
     1999          1.256241       796.026    1999        1.256241          0.000    796.026      1.355207     1,078.78
     1998          1.111970       899.305    1998        1.111970          0.000    899.305      1.355207     1,218.74
     1997          1.254197       797.323    1997        1.254197          0.000    797.323      1.355207     1,080.54
    Incep          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.355207     1,355.21

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                 <C>              <C>              <C>       <C>              <C>
     1999                            1,078.78         0.00      1,078.78         7.88%
     1998                            1,218.74         0.00      1,218.74        10.40%
     1997                            1,080.54         0.00      1,080.54         2.62%
    Incep                            1,355.21         0.00      1,355.21         9.30%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                        NEUBERGER & BERMAN PARTNERS FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee            (0.37)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>          <C>        <C>
     1999          1.256241       796.026    1998        1.256241         (0.295)   795.731      1.355207     1,078.38   90% * 5%
     1998          1.111970       899.305    1998        1.111970         (0.333)   898.972      1.355207     1,218.29   90% * 5%
     1997          1.254197       797.323    1997        1.254197         (0.295)   796.695      1.355207     1,079.69   90% * 5%
    Incep          1.000000     1,000.000    N/A         0.000000          0.000    999.372      1.355207     1,354.36   90% * 5%

<CAPTION>

----------------------------------------------------------------------------------------
                                                             Total Accum     Average
                                  Total Accum                Value After     Annual
                                  Value After      Full       Deduction       Total
                                   Deduction    Surrender        For         Return
    End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr              Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                       <C>         <C>             <C>        <C>              <C>
     1999                 (48.53)     1,029.85        (0.37)     1,029.48         2.95%
     1998                 (54.82)     1,163.47        (0.37)     1,163.10         7.85%
     1997                 (48.59)     1,031.10        (0.37)     1,030.73         1.00%
    Incep                 (60.95)     1,293.41        (0.37)     1,293.04         7.80%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
                                                         0.000000
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>      <C>          <C>          <C>          <C>
     1999          1.256241       796.026    1998        1.256241          0.000    796.026      1.355207     1,078.78
     1998          1.111970       899.305    1998        1.111970          0.000    899.305      1.355207     1,218.74
     1997          1.254197       797.323    1997        1.254197          0.000    797.323      1.355207     1,080.54
    Incep          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.355207     1,355.21

<CAPTION>

-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                               Total Accum                Value After     Annual
                               Value After      Full       Deduction       Total
                                Deduction    Surrender        For         Return
    End of        Surrender     For Surr       Admin       Admin Fee         n
     Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------
<S>                 <C>            <C>              <C>       <C>              <C>
     1999                          1,078.78         0.00      1,078.78         7.88%
     1998                          1,218.74         0.00      1,218.74        10.40%
     1997                          1,080.54         0.00      1,080.54         2.62%
    Incep                          1,355.21         0.00      1,355.21         9.30%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          STRONG MID CAP GROWTH II FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                 Accum                    For           Units
                                 Units      Year of      Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee     For Annual      Accum       09/30/00       Accum       Charge
     Qtr           Value      For $1,000      Fee            (0.47)   Admin Fee      Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>         <C>               <C>       <C>           <C>         <C>        <C>
     1999           2.117357       472.287    1999        2.117357          (0.222)   472.065       3.377211    1,594.26      7%
     1998           1.308740       764.094    1998        1.308740          (0.359)   763.513       3.377211    2,578.54      6%
     1997           1.309767       763.495    1997        1.309767          (0.359)   762.555       3.377211    2,575.31   90% * 5%
    Incep           1.000000     1,000.000    N/A         0.000000           0.000    999.060       3.377211    3,374.04   90% * 4%

<CAPTION>

-------------------------------------------------------------------------------------------
                                                               Total Accum     Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction       Total
                                      Deduction    Surrender       For          Return
    End of             Surrender      For Surr       Admin      Admin Fee         n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                         <C>          <C>            <C>        <C>              <C>
     1999                   (111.60)     1,482.66       (0.47)     1,482.19         48.22%
     1998                   (154.71)     2,423.83       (0.47)     2,423.36         55.67%
     1997                   (115.89)     2,459.42       (0.47)     2,458.95         34.97%
    Incep                   (121.47)     3,252.57       (0.47)     3,252.10         41.17%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                 Accum                    For           Units
                                 Units      Year of      Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee     For Annual      Accum       09/30/00       Accum       Charge
     Qtr           Value      For $1,000      Fee             0.00    Admin Fee      Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>         <C>                <C>    <C>             <C>         <C>        <C>
     1999           2.117357       472.287    1999        2.117357           0.000    472.287       3.377211    1,595.01
     1998           1.308740       764.094    1998        1.308740           0.000    764.094       3.377211    2,580.51
     1997           1.309767       763.495    1997        1.309767           0.000    763.495       3.377211    2,578.48
    Incep           1.000000     1,000.000    N/A         0.000000           0.000  1,000.000       3.377211    3,377.21

<CAPTION>

-------------------------------------------------------------------------------------------
                                                               Total Accum     Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction       Total
                                      Deduction    Surrender       For          Return
    End of             Surrender      For Surr       Admin      Admin Fee         n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                      <C>             <C>             <C>       <C>              <C>
     1999                                1,595.01        0.00      1,595.01         59.50%
     1998                                2,580.51        0.00      2,580.51         60.64%
     1997                                2,578.48        0.00      2,578.48         37.13%
    Incep                                3,377.21        0.00      3,377.21         42.79%

</TABLE>


<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          STRONG MID CAP GROWTH II FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                 Accum                    For           Units
                                 Units      Year of      Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00          Accum       Charge
     Qtr           Value      For $1,000      Fee            (0.60)   Admin Fee      Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>       <C>           <C>         <C>        <C>
     1999           2.117357       472.287    1999        2.117357          (0.283)   472.004       3.377211    1,594.06   90% * 8%
     1998           1.308740       764.094    1998        1.308740          (0.458)   763.352       3.377211    2,578.00   90% * 7%
     1997           1.309767       763.495    1997        1.309767          (0.458)   762.295       3.377211    2,574.43   90% * 6%
    Incep           1.000000     1,000.000    N/A         0.000000           0.000    998.800       3.377211    3,373.16   90% * 5%

<CAPTION>

-------------------------------------------------------------------------------------------
                                                               Total Accum     Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction       Total
                                      Deduction    Surrender       For          Return
    End of             Surrender      For Surr       Admin      Admin Fee         n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                         <C>          <C>            <C>        <C>              <C>
     1999                   (114.77)     1,479.29       (0.60)     1,478.69         47.87%
     1998                   (162.41)     2,415.59       (0.60)     2,414.99         55.40%
     1997                   (139.02)     2,435.41       (0.60)     2,434.81         34.53%
    Incep                   (151.79)     3,221.37       (0.60)     3,220.77         40.77%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                 Accum                    For           Units
                                 Units      Year of      Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00          Accum       Charge
     Qtr           Value      For $1,000      Fee             0.00    Admin Fee      Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>         <C>                <C>    <C>             <C>         <C>         <C>
     1999           2.117357       472.287    1999        2.117357           0.000    472.287       3.377211    1,595.01
     1998           1.308740       764.094    1998        1.308740           0.000    764.094       3.377211    2,580.51
     1997           1.309767       763.495    1997        1.309767           0.000    763.495       3.377211    2,578.48
    Incep           1.000000     1,000.000    N/A         0.000000           0.000  1,000.000       3.377211    3,377.21

<CAPTION>

--------------------------------------------------------------------------------------
                                                          Total Accum     Average
                                Total Accum               Value After      Annual
                                Value After     Full       Deduction       Total
                                 Deduction    Surrender       For          Return
    End of        Surrender      For Surr       Admin      Admin Fee         n
     Qtr            Charge        Charge         Fee         (ERV)      P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>            <C>             <C>       <C>              <C>
     1999                           1,595.01        0.00      1,595.01         59.50%
     1998                           2,580.51        0.00      2,580.51         60.64%
     1997                           2,578.48        0.00      2,578.48         37.13%
    Incep                           3,377.21        0.00      3,377.21         42.79%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          STRONG MID CAP GROWTH II FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                 Accum                    For           Units
                                 Units      Year of      Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00          Accum       Charge
     Qtr           Value      For $1,000      Fee            (0.37)   Admin Fee      Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>         <C>               <C>       <C>           <C>         <C>        <C>
     1999           2.117357       472.287    1999        2.117357          (0.175)   472.112       3.377211    1,594.42   90% * 5%
     1998           1.308740       764.094    1998        1.308740          (0.283)   763.637       3.377211    2,578.96   90% * 5%
     1997           1.309767       763.495    1997        1.309767          (0.282)   762.755       3.377211    2,575.98   90% * 5%
    Incep           1.000000     1,000.000    N/A         0.000000           0.000    999.260       3.377211    3,374.71   90% * 5%

<CAPTION>

-------------------------------------------------------------------------------------------
                                                               Total Accum     Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction       Total
                                      Deduction    Surrender       For          Return
    End of             Surrender      For Surr       Admin      Admin Fee         n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                         <C>          <C>            <C>        <C>              <C>
     1999                    (71.75)     1,522.67       (0.37)     1,522.30         52.23%
     1998                   (116.05)     2,462.91       (0.37)     2,462.54         56.92%
     1997                   (115.92)     2,460.06       (0.37)     2,459.69         34.99%
    Incep                   (151.86)     3,222.85       (0.37)     3,222.48         40.80%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                       Unit Value       Accum
                                 Accum                    For           Units
                                 Units      Year of      Annual      (Deducted)      Total                      Total      Surrender
    End of         Unit        Purchased     Admin     Admin Fee     For Annual      Accum    09/30/00          Accum       Charge
     Qtr           Value      For $1,000      Fee             0.00    Admin Fee      Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>         <C>                <C>    <C>             <C>         <C>         <C>
     1999           2.117357       472.287    1999        2.117357           0.000    472.287       3.377211    1,595.01
     1998           1.308740       764.094    1998        1.308740           0.000    764.094       3.377211    2,580.51
     1997           1.309767       763.495    1997        1.309767           0.000    763.495       3.377211    2,578.48
    Incep           1.000000     1,000.000    N/A         0.000000           0.000  1,000.000       3.377211    3,377.21

<CAPTION>

-------------------------------------------------------------------------------------------
                                                               Total Accum     Average
                                     Total Accum               Value After      Annual
                                     Value After     Full       Deduction       Total
                                      Deduction    Surrender       For          Return
    End of             Surrender      For Surr       Admin      Admin Fee         n
     Qtr                 Charge        Charge         Fee         (ERV)      P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                  <C>                 <C>             <C>       <C>              <C>
     1999                                1,595.01        0.00      1,595.01         59.50%
     1998                                2,580.51        0.00      2,580.51         60.64%
     1997                                2,578.48        0.00      2,578.48         37.13%
    Incep                                3,377.21        0.00      3,377.21         42.79%

</TABLE>



<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           STRONG OPPORTUNITY II FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit        Purchased     Admin     Admin Fee    For Annual      Accum       09/30/00      Accum       Charge
     Qtr          Value       For $1,000      Fee           (0.47)   Admin Fee      Units      Unit Value     Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>               <C>       <C>          <C>         <C>        <C>
    1999            1.574082       635.291    1999       1.574082          (0.299)   634.992      1.944502    1,234.74      7%
    1998            1.185113       843.801    1998       1.185113          (0.397)   843.106      1.944502    1,639.42      6%
    1997            1.252040       798.697    1997       1.252040          (0.375)   797.626      1.944502    1,550.99   90% * 5%
    Incep           1.000000     1,000.000    N/A        0.000000           0.000    998.929      1.944502    1,942.42   90% * 4%

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
   End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                      <C>         <C>             <C>        <C>             <C>
    1999                 (86.43)     1,148.31        (0.47)     1,147.84        14.79%
    1998                 (98.37)     1,541.05        (0.47)     1,540.58        24.12%
    1997                 (69.79)     1,481.20        (0.47)     1,480.73        13.98%
    Incep                (69.93)     1,872.49        (0.47)     1,872.02        20.12%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit        Purchased     Admin     Admin Fee    For Annual      Accum         09/30/00    Accum       Charge
     Qtr          Value       For $1,000      Fee            0.00    Admin Fee      Units        Unit Value   Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>                <C>    <C>            <C>         <C>          <C>
    1999            1.574082       635.291    1999       1.574082           0.000    635.291      1.944502    1,235.32
    1998            1.185113       843.801    1998       1.185113           0.000    843.801      1.944502    1,640.77
    1997            1.252040       798.697    1997       1.252040           0.000    798.697      1.944502    1,553.07
    Incep           1.000000     1,000.000    N/A        0.000000           0.000  1,000.000      1.944502    1,944.50

<CAPTION>

----------------------------------------------------------------------------------------
                                                             Total Accum     Average
                                  Total Accum                Value After     Annual
                                  Value After      Full       Deduction       Total
                                   Deduction    Surrender        For         Return
   End of            Surrender     For Surr       Admin       Admin Fee         n
     Qtr              Charge        Charge         Fee          (ERV)     P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>                 <C>               <C>              <C>       <C>             <C>
    1999                              1,235.32         0.00      1,235.32        23.53%
    1998                              1,640.77         0.00      1,640.77        28.09%
    1997                              1,553.07         0.00      1,553.07        15.81%
    Incep                             1,944.50         0.00      1,944.50        21.49%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           STRONG OPPORTUNITY II FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/00       Accum       Charge
     Qtr          Value       For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>               <C>       <C>          <C>         <C>        <C>
    1999            1.574082       635.291    1999       1.574082          (0.381)   634.910      1.944502    1,234.58   90% * 8%
    1998            1.185113       843.801    1998       1.185113          (0.506)   842.914      1.944502    1,639.05   90% * 7%
    1997            1.252040       798.697    1997       1.252040          (0.479)   797.330      1.944502    1,550.41   90% * 6%
    Incep           1.000000     1,000.000    N/A        0.000000           0.000    998.633      1.944502    1,941.84   90% * 5%

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
   End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                     <C>          <C>             <C>        <C>             <C>
    1999                 (88.89)     1,145.69        (0.60)     1,145.09        14.51%
    1998                (103.26)     1,535.79        (0.60)     1,535.19        23.90%
    1997                 (83.72)     1,466.69        (0.60)     1,466.09        13.60%
    Incep                (87.38)     1,854.46        (0.60)     1,853.86        19.78%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/00       Accum       Charge
     Qtr          Value       For $1,000      Fee            0.00    Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>                <C>    <C>            <C>         <C>         <C>
    1999            1.574082       635.291    1999       1.574082           0.000    635.291      1.944502    1,235.32
    1998            1.185113       843.801    1998       1.185113           0.000    843.801      1.944502    1,640.77
    1997            1.252040       798.697    1997       1.252040           0.000    798.697      1.944502    1,553.07
    Incep           1.000000     1,000.000    N/A        0.000000           0.000  1,000.000      1.944502    1,944.50

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
   End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                  <C>             <C>              <C>       <C>             <C>
    1999                             1,235.32         0.00      1,235.32        23.53%
    1998                             1,640.77         0.00      1,640.77        28.09%
    1997                             1,553.07         0.00      1,553.07        15.81%
    Incep                            1,944.50         0.00      1,944.50        21.49%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                           STRONG OPPORTUNITY II FUND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit        Purchased     Admin     Admin Fee    For Annual      Accum         09/30/00    Accum       Charge
     Qtr          Value       For $1,000      Fee           (0.37)   Admin Fee      Units        Unit Value   Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>               <C>       <C>          <C>         <C>        <C>
    1999            1.574082       635.291    1999       1.574082          (0.235)   635.056      1.944502    1,234.87   90% * 5%
    1998            1.185113       843.801    1997       1.185113          (0.312)   843.254      1.944502    1,639.71   90% * 5%
    1997            1.252040       798.697    N/A        1.252040          (0.296)   797.854      1.944502    1,551.43   90% * 5%
    Incep           1.000000     1,000.000    N/A        0.000000           0.000    999.157      1.944502    1,942.86   90% * 5%

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
   End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                      <C>         <C>             <C>        <C>             <C>
    1999                 (55.57)     1,179.30        (0.37)     1,178.93        17.90%
    1998                 (73.79)     1,565.92        (0.37)     1,565.55        25.12%
    1997                 (69.81)     1,481.62        (0.37)     1,481.25        13.99%
    Incep                (87.43)     1,855.43        (0.37)     1,855.06        19.80%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                     Total      Surrender
   End of          Unit        Purchased     Admin     Admin Fee    For Annual      Accum         09/30/00    Accum       Charge
     Qtr          Value       For $1,000      Fee            0.00    Admin Fee      Units        Unit Value   Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>                <C>    <C>            <C>         <C>          <C>
    1999            1.574082       635.291    1999       1.574082           0.000    635.291      1.944502    1,235.32
    1998            1.185113       843.801    1997       1.185113           0.000    843.801      1.944502    1,640.77
    1997            1.252040       798.697    N/A        1.252040           0.000    798.697      1.944502    1,553.07
    Incep           1.000000     1,000.000    N/A        0.000000           0.000  1,000.000      1.944502    1,944.50

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
   End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                  <C>             <C>              <C>       <C>             <C>
    1999                             1,235.32         0.00      1,235.32        23.53%
    1998                             1,640.77         0.00      1,640.77        28.09%
    1997                             1,553.07         0.00      1,553.07        15.81%
    Incep                            1,944.50         0.00      1,944.50        21.49%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          VAN ECK WORLDWIDE HARD ASSETS
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/00      Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.47)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>               <C>     <C>           <C>          <C>        <C>
     1999           0.979428     1,021.004    1998       0.979428          (0.480) 1,020.524     1.085987     1,108.28      7%
     1998           0.855881     1,168.387    1998       0.855881          (0.549) 1,167.358     1.085987     1,267.74      6%
     1997           1.431265       698.683    1997       1.431265          (0.328)   697.326     1.085987       757.29   90% * 5%
     1996           1.179596       847.748    1996       1.179596          (0.398)   845.992     1.085987       918.74   90% * 4%
     1995           1.089271       918.045    1995       1.089271          (0.431)   915.858     1.085987       994.61   90% * 3%
    Incep           1.000000     1,000.000    N/A        0.000000           0.000    997.813     1.085987     1,083.61     NONE

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                      <C>         <C>             <C>        <C>            <C>
     1999                (77.58)     1,030.70        (0.47)     1,030.23         3.02%
     1998                (76.06)     1,191.68        (0.47)     1,191.21         9.14%
     1997                (34.08)       723.21        (0.47)       722.74       -10.26%
     1996                (33.07)       885.67        (0.47)       885.20        -3.00%
     1995                (26.85)       967.76        (0.47)       967.29        -0.66%
    Incep                  0.00      1,083.61        (0.47)     1,083.14         1.51%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum      09/30/00      Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>                <C>    <C>           <C>          <C>        <C>
     1999           0.979428     1,021.004    1998       0.979428           0.000  1,021.004     1.085987     1,108.80
     1998           0.855881     1,168.387    1998       0.855881           0.000  1,168.387     1.085987     1,268.85
     1997           1.431265       698.683    1997       1.431265           0.000    698.683     1.085987       758.76
     1996           1.179596       847.748    1996       1.179596           0.000    847.748     1.085987       920.64
     1995           1.089271       918.045    1995       1.089271           0.000    918.045     1.085987       996.99
    Incep           1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     1.085987     1,085.99

<CAPTION>

-----------------------------------------------------------------------------------------
                                                              Total Accum     Average
                                   Total Accum                Value After     Annual
                                   Value After      Full       Deduction       Total
                                    Deduction    Surrender        For         Return
    End of            Surrender     For Surr       Admin       Admin Fee         n
     Qtr               Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                 <C>                <C>              <C>       <C>             <C>
     1999                              1,108.80         0.00      1,108.80        10.88%
     1998                              1,268.85         0.00      1,268.85        12.64%
     1997                                758.76         0.00        758.76        -8.79%
     1996                                920.64         0.00        920.64        -2.05%
     1995                                996.99         0.00        996.99        -0.06%
    Incep                              1,085.99         0.00      1,085.99         1.56%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          VAN ECK WORLDWIDE HARD ASSETS
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000

TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>               <C>     <C>           <C>          <C>        <C>
1999                0.979428     1,021.004    1998       0.979428          (0.613) 1,020.391     1.085987     1,108.13   90% * 8%
1998                0.855881     1,168.387    1998       0.855881          (0.701) 1,167.073     1.085987     1,267.43   90% * 7%
1997                1.431265       698.683    1997       1.431265          (0.419)   696.950     1.085987       756.88   90% * 6%
1996                1.179596       847.748    1996       1.179596          (0.509)   845.507     1.085987       918.21   90% * 5%
1995                1.089271       918.045    1995       1.089271          (0.551)   915.253     1.085987       993.95   90% * 4%
    INCEP           1.000000     1,000.000    N/A        0.000000           0.000    997.208     1.085987     1,082.96   90% * 3%

<CAPTION>

-----------------------------------------------------------------------------------------
                                                              Total Accum     Average
                                   Total Accum                Value After     Annual
                                   Value After      Full       Deduction       Total
                                    Deduction    Surrender        For         Return
    End of            Surrender     For Surr       Admin       Admin Fee         n
     Qtr               Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                        <C>         <C>             <C>        <C>              <C>
1999                       (79.79)     1,028.34        (0.60)     1,027.74         2.78%
1998                       (79.85)     1,187.58        (0.60)     1,186.98         8.95%
1997                       (40.87)       716.01        (0.60)       715.41       -10.56%
1996                       (41.32)       876.89        (0.60)       876.29        -3.25%
1995                       (35.78)       958.17        (0.60)       957.57        -0.86%
    INCEP                  (29.24)     1,053.72        (0.60)     1,053.12         0.98%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>                <C>    <C>           <C>          <C>         <C>
1999                0.979428     1,021.004    1998       0.979428           0.000  1,021.004     1.085987     1,108.80
1998                0.855881     1,168.387    1998       0.855881           0.000  1,168.387     1.085987     1,268.85
1997                1.431265       698.683    1997       1.431265           0.000    698.683     1.085987       758.76
1996                1.179596       847.748    1996       1.179596           0.000    847.748     1.085987       920.64
1995                1.089271       918.045    1995       1.089271           0.000    918.045     1.085987       996.99
    INCEP           1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     1.085987     1,085.99

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                <C>              <C>              <C>       <C>             <C>
1999                                1,108.80         0.00      1,108.80        10.88%
1998                                1,268.85         0.00      1,268.85        12.64%
1997                                  758.76         0.00        758.76        -8.79%
1996                                  920.64         0.00        920.64        -2.05%
1995                                  996.99         0.00        996.99        -0.06%
    INCEP                           1,085.99         0.00      1,085.99         1.56%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                          VAN ECK WORLDWIDE HARD ASSETS
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr           Value      For $1,000      Fee           (0.37)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>               <C>     <C>           <C>          <C>        <C>
1999                0.979428     1,021.004    1998       0.979428          (0.378) 1,020.626     1.085987     1,108.39   90% * 5%
1998                0.855881     1,168.387    1998       0.855881          (0.432) 1,167.577     1.085987     1,267.97   90% * 5%
1997                1.431265       698.683    1997       1.431265          (0.259)   697.614     1.085987       757.60   90% * 5%
1996                1.179596       847.748    1996       1.179596          (0.314)   846.366     1.085987       919.14   90% * 5%
1995                1.089271       918.045    1995       1.089271          (0.340)   916.323     1.085987       995.12   90% * 3%
    INCEP           1.000000     1,000.000    N/A        0.000000           0.000    998.278     1.085987     1,084.12   90% * 3%

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                     <C>         <C>             <C>        <C>              <C>
1999                    (49.88)     1,058.51        (0.37)     1,058.14         5.81%
1998                    (57.06)     1,210.91        (0.37)     1,210.54        10.02%
1997                    (34.09)       723.51        (0.37)       723.14       -10.24%
1996                    (41.36)       877.78        (0.37)       877.41        -3.22%
1995                    (26.87)       968.25        (0.37)       967.88        -0.65%
    INCEP               (29.27)     1,054.85        (0.37)     1,054.48         1.00%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value       Accum
                                 Accum                    For          Units
                                 Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit        Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr           Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>          <C>          <C>        <C>                <C>    <C>           <C>          <C>          <C>
1999                0.979428     1,021.004    1998       0.979428           0.000  1,021.004     1.085987     1,108.80
1998                0.855881     1,168.387    1998       0.855881           0.000  1,168.387     1.085987     1,268.85
1997                1.431265       698.683    1997       1.431265           0.000    698.683     1.085987       758.76
1996                1.179596       847.748    1996       1.179596           0.000    847.748     1.085987       920.64
1995                1.089271       918.045    1995       1.089271           0.000    918.045     1.085987       996.99
    INCEP           1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     1.085987     1,085.99

<CAPTION>

-----------------------------------------------------------------------------------------
                                                              Total Accum     Average
                                   Total Accum                Value After     Annual
                                   Value After      Full       Deduction       Total
                                    Deduction    Surrender        For         Return
    End of            Surrender     For Surr       Admin       Admin Fee         n
     Qtr               Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                    <C>             <C>              <C>       <C>             <C>
1999                                   1,108.80         0.00      1,108.80        10.88%
1998                                   1,268.85         0.00      1,268.85        12.64%
1997                                     758.76         0.00        758.76        -8.79%
1996                                     920.64         0.00        920.64        -2.05%
1995                                     996.99         0.00        996.99        -0.06%
    INCEP                              1,085.99         0.00      1,085.99         1.56%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             VAN ECK WORLDWIDE BOND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
     Qtr          Value      For $1,000      Fee            (0.47)  Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>         <C>        <C>
    1999           1.095423       912.889    1998        1.095423         (0.429)   912.460      1.028307      938.29      7%
    1998           1.165486       858.011    1998        1.165486         (0.403)   857.179      1.028307      881.44      6%
    1997           1.038245       963.164    1997        1.038245         (0.453)   961.879      1.028307      989.11   90% * 5%
    1996           1.008463       991.608    1996        1.008463         (0.466)   989.857      1.028307    1,017.88   90% * 4%
    1995           1.003901       996.114    1995        1.003901         (0.468)   993.895      1.028307    1,022.03   90% * 3%
    Incep          1.000000     1,000.000    N/A         0.000000          0.000    997.781      1.028307    1,026.03     NONE

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
   End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                     <C>         <C>             <C>        <C>            <C>
    1999                (65.68)       872.61        (0.47)       872.14       -12.79%
    1998                (52.89)       828.55        (0.47)       828.08        -9.00%
    1997                (44.51)       944.60        (0.47)       944.13        -1.90%
    1996                (36.64)       981.24        (0.47)       980.77        -0.48%
    1995                (27.59)       994.44        (0.47)       993.97        -0.12%
    Incep                 0.00      1,026.03        (0.47)     1,025.56         0.47%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>    <C>            <C>         <C>           <C>
    1999           1.095423       912.889    1998        1.095423          0.000    912.889      1.028307      938.73
    1998           1.165486       858.011    1998        1.165486          0.000    858.011      1.028307      882.30
    1997           1.038245       963.164    1997        1.038245          0.000    963.164      1.028307      990.43
    1996           1.008463       991.608    1996        1.008463          0.000    991.608      1.028307    1,019.68
    1995           1.003901       996.114    1995        1.003901          0.000    996.114      1.028307    1,024.31
    Incep          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.028307    1,028.31

<CAPTION>

-------------------------------------------------------------------------------------
                                                          Total Accum     Average
                               Total Accum                Value After     Annual
                               Value After      Full       Deduction       Total
                                Deduction    Surrender        For         Return
   End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr           Charge        Charge         Fee          (ERV)     P(1+T) = ERV
-------------------------------------------------------------------------------------
<S>            <C>                 <C>              <C>       <C>             <C>
    1999                             938.73         0.00        938.73        -6.13%
    1998                             882.30         0.00        882.30        -6.07%
    1997                             990.43         0.00        990.43        -0.32%
    1996                           1,019.68         0.00      1,019.68         0.49%
    1995                           1,024.31         0.00      1,024.31         0.48%
    Incep                          1,028.31         0.00      1,028.31         0.52%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             VAN ECK WORLDWIDE BOND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
     Qtr          Value      For $1,000      Fee            (0.60)  Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>         <C>        <C>
1999               1.095423       912.889    1998        1.095423         (0.548)   912.341      1.028307      938.17   90% * 8%
1998               1.165486       858.011    1998        1.165486         (0.515)   856.948      1.028307      881.21   90% * 7%
1997               1.038245       963.164    1997        1.038245         (0.578)   961.524      1.028307      988.74   90% * 6%
1996               1.008463       991.608    1996        1.008463         (0.595)   989.373      1.028307    1,017.38   90% * 5%
1995               1.003901       996.114    1995        1.003901         (0.598)   993.281      1.028307    1,021.40   90% * 4%
    INCEP          1.000000     1,000.000    N/A         0.000000          0.000    997.167      1.028307    1,025.39   90% * 3%

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
   End of           Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                      <C>           <C>           <C>          <C>          <C>
1999                     (67.55)       870.62        (0.60)       870.02       -13.00%
1998                     (55.52)       825.69        (0.60)       825.09        -9.17%
1997                     (53.39)       935.35        (0.60)       934.75        -2.23%
1996                     (45.78)       971.60        (0.60)       971.00        -0.73%
1995                     (36.77)       984.63        (0.60)       984.03        -0.32%
    INCEP                (27.69)       997.70        (0.60)       997.10        -0.06%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>    <C>            <C>           <C>        <C>
1999               1.095423       912.889    1998        1.095423          0.000    912.889      1.028307      938.73
1998               1.165486       858.011    1998        1.165486          0.000    858.011      1.028307      882.30
1997               1.038245       963.164    1997        1.038245          0.000    963.164      1.028307      990.43
1996               1.008463       991.608    1996        1.008463          0.000    991.608      1.028307    1,019.68
1995               1.003901       996.114    1995        1.003901          0.000    996.114      1.028307    1,024.31
    INCEP          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.028307    1,028.31

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
   End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                  <C>            <C>              <C>       <C>             <C>
1999                                  938.73         0.00        938.73        -6.13%
1998                                  882.30         0.00        882.30        -6.07%
1997                                  990.43         0.00        990.43        -0.32%
1996                                1,019.68         0.00      1,019.68         0.49%
1995                                1,024.31         0.00      1,024.31         0.48%
    INCEP                           1,028.31         0.00      1,028.31         0.52%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                             VAN ECK WORLDWIDE BOND
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
     Qtr          Value      For $1,000      Fee            (0.37)  Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>              <C>       <C>          <C>         <C>        <C>
1999               1.095423       912.889    1998        1.095423         (0.338)   912.551      1.028307      938.38   90% * 5%
1998               1.165486       858.011    1998        1.165486         (0.317)   857.356      1.028307      881.63   90% * 5%
1997               1.038245       963.164    1997        1.038245         (0.356)   962.152      1.028307      989.39   90% * 5%
1996               1.008463       991.608    1996        1.008463         (0.367)   990.230      1.028307    1,018.26   90% * 5%
1995               1.003901       996.114    1995        1.003901         (0.369)   994.367      1.028307    1,022.51   90% * 3%
    INCEP          1.000000     1,000.000    N/A         0.000000          0.000    998.253      1.028307    1,026.51   90% * 3%

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
   End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                     <C>           <C>           <C>          <C>          <C>
1999                    (42.23)       896.15        (0.37)       895.78       -10.42%
1998                    (39.67)       841.96        (0.37)       841.59        -8.26%
1997                    (44.52)       944.87        (0.37)       944.50        -1.89%
1996                    (45.82)       972.44        (0.37)       972.07        -0.71%
1995                    (27.61)       994.90        (0.37)       994.53        -0.11%
    INCEP               (27.72)       998.79        (0.37)       998.42        -0.03%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                      Unit Value      Accum
                                Accum                    For          Units
                                Units      Year of      Annual      (Deducted)     Total                     Total      Surrender
   End of         Unit        Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum       Charge
     Qtr          Value      For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>         <C>               <C>     C>            <C>         <C>         <C>
1999               1.095423       912.889    1998        1.095423          0.000    912.889      1.028307      938.73
1998               1.165486       858.011    1998        1.165486          0.000    858.011      1.028307      882.30
1997               1.038245       963.164    1997        1.038245          0.000    963.164      1.028307      990.43
1996               1.008463       991.608    1996        1.008463          0.000    991.608      1.028307    1,019.68
1995               1.003901       996.114    1995        1.003901          0.000    996.114      1.028307    1,024.31
    INCEP          1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      1.028307    1,028.31

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
   End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>               <C>               <C>              <C>       <C>             <C>
1999                                  938.73         0.00        938.73        -6.13%
1998                                  882.30         0.00        882.30        -6.07%
1997                                  990.43         0.00        990.43        -0.32%
1996                                1,019.68         0.00      1,019.68         0.49%
1995                                1,024.31         0.00      1,024.31         0.48%
    INCEP                           1,028.31         0.00      1,028.31         0.52%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            VAN ECK EMERGING MARKETS
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value      Accum
                               Accum                    For          Units
                               Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of        Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value     For $1,000      Fee            (0.47)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>         <C>            <C>       <C>            <C>          <C>        <C>
     1999         0.667203     1,498.794    1998        0.667203       (0.704)   1,498.090      0.783375     1,173.57      7%
     1998         0.436659     2,290.117    1998        0.436659       (1.076)   2,288.336      0.783375     1,792.63      6%
     1997         1.090793       916.764    1997        1.090793       (0.431)     914.552      0.783375       716.44   90% * 5%
    Incep         1.000000     1,000.000    N/A         0.000000        0.000      997.788      0.783375       781.64   90% * 4%

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                    <C>          <C>             <C>        <C>            <C>
     1999               (82.15)     1,091.42        (0.47)     1,090.95         9.10%
     1998              (107.56)     1,685.07        (0.47)     1,684.60        29.79%
     1997               (32.24)       684.20        (0.47)       683.73       -11.89%
    Incep               (28.14)       753.50        (0.47)       753.03        -7.96%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value      Accum
                               Accum                    For          Units
                               Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of        Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value     For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>         <C>             <C>      <C>            <C>          <C>            <C>
     1999         0.667203     1,498.794    1998        0.667203        0.000    1,498.794      0.783375     1,174.12
     1998         0.436659     2,290.117    1998        0.436659        0.000    2,290.117      0.783375     1,794.02
     1997         1.090793       916.764    1997        1.090793        0.000      916.764      0.783375       718.17
    Incep         1.000000     1,000.000    N/A         0.000000        0.000    1,000.000      0.783375       783.38

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                 <C>             <C>              <C>       <C>            <C>
     1999                           1,174.12         0.00      1,174.12        17.41%
     1998                           1,794.02         0.00      1,794.02        33.94%
     1997                             718.17         0.00        718.17       -10.45%
    Incep                             783.38         0.00        783.38        -6.90%

</TABLE>

<PAGE>


                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            VAN ECK EMERGING MARKETS
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value      Accum
                               Accum                    For          Units
                               Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of        Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value     For $1,000      Fee            (0.60)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>         <C>              <C>     <C>            <C>          <C>        <C>
     1999         0.667203     1,498.794    1998        0.667203         (0.899) 1,497.895      0.783375     1,173.41   90% * 8%
     1998         0.436659     2,290.117    1998        0.436659         (1.374) 2,287.844      0.783375     1,792.24   90% * 7%
     1997         1.090793       916.764    1997        1.090793         (0.550)   913.941      0.783375       715.96   90% * 6%
    Incep         1.000000     1,000.000    N/A         0.000000          0.000    997.177      0.783375       781.16   90% * 5%

<CAPTION>

--------------------------------------------------------------------------------------
                                                           Total Accum     Average
                                Total Accum                Value After     Annual
                                Value After      Full       Deduction       Total
                                 Deduction    Surrender        For         Return
    End of         Surrender     For Surr       Admin       Admin Fee         n
     Qtr            Charge        Charge         Fee          (ERV)     P(1+T) = ERV
--------------------------------------------------------------------------------------
<S>                    <C>          <C>             <C>        <C>            <C>
     1999               (84.49)     1,088.92        (0.60)     1,088.32         8.84%
     1998              (112.91)     1,679.33        (0.60)     1,678.73        29.57%
     1997               (38.66)       677.30        (0.60)       676.70       -12.19%
    Incep               (35.15)       746.01        (0.60)       745.41        -8.22%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value      Accum
                               Accum                    For          Units
                               Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of        Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value     For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>         <C>               <C>    <C>            <C>          <C>          <C>
     1999         0.667203     1,498.794    1998        0.667203          0.000  1,498.794      0.783375     1,174.12
     1998         0.436659     2,290.117    1998        0.436659          0.000  2,290.117      0.783375     1,794.02
     1997         1.090793       916.764    1997        1.090793          0.000    916.764      0.783375       718.17
    Incep         1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      0.783375       783.38

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                 <C>              <C>              <C>       <C>            <C>
     1999                            1,174.12         0.00      1,174.12        17.41%
     1998                            1,794.02         0.00      1,794.02        33.94%
     1997                              718.17         0.00        718.17       -10.45%
    Incep                              783.38         0.00        783.38        -6.90%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                            VAN ECK EMERGING MARKETS
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value      Accum
                               Accum                    For          Units
                               Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of        Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value     For $1,000      Fee            (0.37)  Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>         <C>              <C>     <C>            <C>          <C>        <C>
     1999         0.667203     1,498.794    1998        0.667203         (0.555) 1,498.239      0.783375     1,173.68   90% * 5%
     1998         0.436659     2,290.117    1998        0.436659         (0.847) 2,288.715      0.783375     1,792.92   90% * 5%
     1997         1.090793       916.764    1997        1.090793         (0.339)   915.577      0.783375       717.24   90% * 5%
    INCEP         1.000000     1,000.000    N/A         0.000000          0.000    998.813      0.783375       782.45   90% * 5%

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                      <C>         <C>             <C>        <C>            <C>
     1999                (52.82)     1,120.86        (0.37)     1,120.49        12.06%
     1998                (80.68)     1,712.24        (0.37)     1,711.87        30.84%
     1997                (32.28)       684.96        (0.37)       684.59       -11.87%
    INCEP                (35.21)       747.24        (0.37)       746.87        -8.19%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value      Accum
                               Accum                    For          Units
                               Units      Year of      Annual      (Deducted)     Total                     Total       Surrender
    End of        Unit       Purchased     Admin     Admin Fee     For Annual     Accum    09/30/00         Accum        Charge
     Qtr          Value     For $1,000      Fee             0.00   Admin Fee      Units     Unit Value      Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>          <C>         <C>               <C>    <C>            <C>          <C>          <C>
     1999         0.667203     1,498.794    1998        0.667203          0.000  1,498.794      0.783375     1,174.12
     1998         0.436659     2,290.117    1998        0.436659          0.000  2,290.117      0.783375     1,794.02
     1997         1.090793       916.764    1997        1.090793          0.000    916.764      0.783375       718.17
    INCEP         1.000000     1,000.000    N/A         0.000000          0.000  1,000.000      0.783375       783.38

<CAPTION>

---------------------------------------------------------------------------------------
                                                            Total Accum     Average
                                 Total Accum                Value After     Annual
                                 Value After      Full       Deduction       Total
                                  Deduction    Surrender        For         Return
    End of          Surrender     For Surr       Admin       Admin Fee         n
     Qtr             Charge        Charge         Fee          (ERV)     P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>                 <C>              <C>              <C>       <C>            <C>
     1999                            1,174.12         0.00      1,174.12        17.41%
     1998                            1,794.02         0.00      1,794.02        33.94%
     1997                              718.17         0.00        718.17       -10.45%
    INCEP                              783.38         0.00        783.38        -6.90%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               VAN ECK REAL ESTATE
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr          Value      For $1,000      Fee           (0.47)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>               <C>     <C>           <C>          <C>        <C>
     1999          0.862927     1,158.847    1999       0.862927          (0.545) 1,158.302     0.938733     1,087.34      7%
     1998          0.812818     1,230.288    1998       0.812818          (0.578) 1,229.165     0.938733     1,153.86      6%
    Incep          1.000000     1,000.000    N/A        0.000000           0.000    998.877     0.938733       937.68   90% * 5%

<CAPTION>

----------------------------------------------------------------------------------------------
                                                                Total Accum       Average
                                 Total Accum                    Value After       Annual
                                 Value After       Full          Deduction         Total
                                  Deduction      Surrender          For           Return
    End of          Surrender     For Surr         Admin         Admin Fee           n
     Qtr             Charge        Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------
<S>                      <C>         <C>                <C>          <C>                <C>
     1999                (76.11)     1,011.23           (0.47)       1,010.76           1.08%
     1998                (69.23)     1,084.63           (0.47)       1,084.16           4.12%
    Incep                (42.20)       895.48           (0.47)         895.01          -4.47%

</TABLE>

<TABLE>
<CAPTION>
UNI-FLEX (SINGLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr          Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>                <C>    <C>           <C>          <C>          <C>
     1999          0.862927     1,158.847    1999       0.862927           0.000  1,158.847     0.938733     1,087.85
     1998          0.812818     1,230.288    1998       0.812818           0.000  1,230.288     0.938733     1,154.91
    Incep          1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     0.938733       938.73

<CAPTION>

----------------------------------------------------------------------------------------------
                                                                Total Accum       Average
                                 Total Accum                    Value After       Annual
                                 Value After       Full          Deduction         Total
                                  Deduction      Surrender          For           Return
    End of          Surrender     For Surr         Admin         Admin Fee           n
     Qtr             Charge        Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------
<S>                 <C>              <C>                 <C>         <C>               <C>
     1999                            1,087.85            0.00        1,087.85           8.78%
     1998                            1,154.91            0.00        1,154.91           7.47%
    Incep                              938.73            0.00          938.73          -2.58%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               VAN ECK REAL ESTATE
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr          Value      For $1,000      Fee           (0.60)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>               <C>     <C>           <C>          <C>        <C>
     1999          0.862927     1,158.847    1999       0.862927          (0.695) 1,158.152     0.938733     1,087.20   90% * 8%
     1998          0.812818     1,230.288    1998       0.812818          (0.738) 1,228.855     0.938733     1,153.57   90% * 7%
    Incep          1.000000     1,000.000    N/A        0.000000           0.000    998.567     0.938733       937.39   90% * 6%

<CAPTION>

----------------------------------------------------------------------------------------------
                                                                Total Accum       Average
                                 Total Accum                    Value After       Annual
                                 Value After       Full          Deduction         Total
                                  Deduction      Surrender          For           Return
    End of          Surrender     For Surr         Admin         Admin Fee           n
     Qtr             Charge        Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------
<S>                      <C>         <C>                <C>          <C>               <C>
     1999                (78.28)     1,008.92           (0.60)       1,008.32           0.84%
     1998                (72.67)     1,080.90           (0.60)       1,080.30           3.94%
    Incep                (50.62)       886.77           (0.60)         886.17          -4.86%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr          Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>                <C>    <C>           <C>          <C>         <C>
     1999          0.862927     1,158.847    1999       0.862927           0.000  1,158.847     0.938733     1,087.85
     1998          0.812818     1,230.288    1998       0.812818           0.000  1,230.288     0.938733     1,154.91
    Incep          1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     0.938733       938.73

<CAPTION>

----------------------------------------------------------------------------------------------
                                                                Total Accum       Average
                                 Total Accum                    Value After       Annual
                                 Value After       Full          Deduction         Total
                                  Deduction      Surrender          For           Return
    End of          Surrender     For Surr         Admin         Admin Fee           n
     Qtr             Charge        Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------
<S>                  <C>             <C>                 <C>         <C>                <C>
     1999                            1,087.85            0.00        1,087.85           8.78%
     1998                            1,154.91            0.00        1,154.91           7.47%
    Incep                              938.73            0.00          938.73          -2.58%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                               VAN ECK REAL ESTATE
                           AVERAGE ANNUAL TOTAL RETURN
                                    9/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr          Value      For $1,000      Fee           (0.37)   Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>               <C>     <C>           <C>          <C>        <C>
     1999          0.862927     1,158.847    1999       0.862927          (0.429) 1,158.418     0.938733     1,087.45   90% * 5%
     1998          0.812818     1,230.288    1998       0.812818          (0.455) 1,229.404     0.938733     1,154.08   90% * 5%
    INCEP          1.000000     1,000.000    N/A        0.000000           0.000    999.116     0.938733       937.90   90% * 5%

<CAPTION>

----------------------------------------------------------------------------------------------
                                                                Total Accum       Average
                                 Total Accum                    Value After       Annual
                                 Value After       Full          Deduction         Total
                                  Deduction      Surrender          For           Return
    End of          Surrender     For Surr         Admin         Admin Fee           n
     Qtr             Charge        Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------
<S>                      <C>         <C>                <C>          <C>               <C>
     1999                (48.94)     1,038.51           (0.37)       1,038.14           3.82%
     1998                (51.93)     1,102.15           (0.37)       1,101.78           4.97%
    INCEP                (42.21)       895.69           (0.37)         895.32          -4.46%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                                     Unit Value       Accum
                                Accum                    For          Units
                                Units      Year of     Annual      (Deducted)      Total                    Total       Surrender
    End of         Unit       Purchased     Admin     Admin Fee    For Annual      Accum    09/30/00        Accum        Charge
     Qtr          Value      For $1,000      Fee            0.00    Admin Fee      Units     Unit Value     Value         Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>          <C>          <C>        <C>                <C>    <C>           <C>          <C>        <C>
     1999          0.862927     1,158.847    1999       0.862927           0.000  1,158.847     0.938733     1,087.85
     1998          0.812818     1,230.288    1998       0.812818           0.000  1,230.288     0.938733     1,154.91
    INCEP          1.000000     1,000.000    N/A        0.000000           0.000  1,000.000     0.938733       938.73

<CAPTION>

----------------------------------------------------------------------------------------------
                                                                Total Accum       Average
                                 Total Accum                    Value After       Annual
                                 Value After       Full          Deduction         Total
                                  Deduction      Surrender          For           Return
    End of          Surrender     For Surr         Admin         Admin Fee           n
     Qtr             Charge        Charge           Fee            (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------------
<S>                <C>               <C>                 <C>         <C>               <C>
     1999                            1,087.85            0.00        1,087.85           8.78%
     1998                            1,154.91            0.00        1,154.91           7.47%
    INCEP                              938.73            0.00          938.73          -2.58%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  Rydex - NOVA
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.47)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>      <C>        <C>                  <C>          <C>        <C>            <C>         <C>
   1999     18.407580        54.325   1998       18.407580            (0.026)      54.299     17.602659      955.81      7%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>               <C>              <C>             <C>           <C>             <C>
   1999           (66.91)          888.90          (0.47)        888.43         -11.16%

</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>      <C>        <C>                   <C>         <C>        <C>            <C>        <C>
   1999     18.407580        54.325   1998       18.407580             0.000       54.325     17.602659      956.26

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                          Total Accum                    Value After       Annual
                          Value After         Full        Deduction         Total
                           Deduction       Surrender         For           Return
  End of   Surrender        For Surr         Admin        Admin Fee           n
   Qtr      Charge           Charge           Fee           (ERV)        P(1+T) = ERV
---------------------------------------------------------------------------------------
<S>            <C>                <C>              <C>          <C>             <C>
   1999                           956.26           0.00         956.26          -4.37%

</TABLE>


<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  Rydex - NOVA
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.60)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>        <C>       <C>                  <C>          <C>        <C>            <C>      <C>
1999        18.407580        54.325     1999      54.325000            (0.011)      54.314     17.602659      956.07   90% * 8%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)        P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>               <C>              <C>             <C>           <C>            <C>
1999              (68.84)          887.23          (0.60)        886.63         -11.37%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>        <C>      <C>                   <C>         <C>        <C>            <C>          <C>
1999        18.407580        54.325     1999     54.325000             0.000       54.325     17.602659      956.26

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)        P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>              <C>               <C>              <C>          <C>             <C>
1999                               956.26           0.00         956.26          -4.37%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                  Rydex - NOVA
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.37)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>        <C>      <C>                  <C>          <C>        <C>            <C>      <C>
1999        18.407580        54.325     0        18.407580            (0.020)      54.305     17.602659      955.91   90% * 5%

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)        P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                <C>              <C>             <C>           <C>             <C>
1999               (43.02)          912.89          (0.37)        912.52          -8.75%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>         <C>     <C>               <C>         <C>        <C>            <C>           <C>
1999        18.407580        54.325      0       18.407580         0.000       54.325     17.602659      956.26

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)         P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>             <C>                <C>              <C>          <C>             <C>
1999                               956.26           0.00         956.26          -4.37%

</TABLE>

<PAGE>
                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                   Rydex -OTC
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.47)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>      <C>        <C>                  <C>          <C>        <C>            <C>         <C>
   1999     39.086082        25.585   1998       39.086082            (0.012)      25.573     36.556634      934.86      7%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>               <C>              <C>             <C>           <C>             <C>
   1999           (65.44)          869.42          (0.47)        868.95         -13.13%

</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>      <C>        <C>                   <C>         <C>        <C>            <C>       <C>
   1999     39.086082        25.585   1998       39.086082             0.000       25.585     36.556634      935.30

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)        P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>              <C>              <C>              <C>          <C>              <C>
   1999                            935.30           0.00         935.30          -6.47%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                   Rydex -OTC
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.60)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>       <C>       <C>                  <C>          <C>        <C>            <C>      <C>
1999        39.086082        25.585    1999      39.086082            (0.015)      25.570     36.556634      934.75   90% * 8%

<CAPTION>

-------------------------------------------------------------------------------------------
                                                             Total Accum       Average
                              Total Accum                    Value After       Annual
                              Value After         Full        Deduction         Total
                               Deduction       Surrender         For           Return
  End of       Surrender        For Surr         Admin        Admin Fee           n
   Qtr          Charge           Charge           Fee           (ERV)         P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                  <C>              <C>             <C>           <C>            <C>
1999                 (67.30)          867.45          (0.60)        866.85         -13.35%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>        <C>      <C>                   <C>         <C>        <C>            <C>         <C>
1999        39.086082        25.585     1999     39.086082             0.000       25.585     36.556634      935.30

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)         P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>           <C>                  <C>              <C>          <C>             <C>
1999                               935.30           0.00         935.30          -6.47%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                                   Rydex -OTC
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.37)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>        <C>       <C>                  <C>          <C>        <C>            <C>      <C>
1999        39.086082        25.585     0         39.086082            (0.009)      25.576     36.556634      934.97   90% * 5%

<CAPTION>

---------------------------------------------------------------------------------------
                                                         Total Accum       Average
                          Total Accum                    Value After       Annual
                          Value After         Full        Deduction         Total
                           Deduction       Surrender         For           Return
  End of   Surrender        For Surr         Admin        Admin Fee           n
   Qtr      Charge           Charge           Fee           (ERV)         P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>              <C>              <C>              <C>          <C>             <C>
1999             (42.07)          892.90           0.00         892.90         -10.77%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>              <C>        <C>      <C>                   <C>         <C>        <C>            <C>        <C>
1999        39.086082        25.585     0        39.086082             0.000       25.585     36.556634      935.30

<CAPTION>

-------------------------------------------------------------------------------------------
                                                             Total Accum       Average
                              Total Accum                    Value After       Annual
                              Value After         Full        Deduction         Total
                               Deduction       Surrender         For           Return
  End of       Surrender        For Surr         Admin        Admin Fee           n
   Qtr          Charge           Charge           Fee           (ERV)         P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                <C>                <C>              <C>          <C>             <C>
1999                                  935.30           0.00         935.30          -6.47%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                    Seligman - Communications and Information
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245


<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.47)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>                 <C>         <C>          <C>           <C>         <C>
   1999      1.000000     1,000.000   1998        1.000000            (0.470)     999.530      0.774826      774.46      7%

<CAPTION>

------------------------------------------------------------------------------------------
                                                            Total Accum       Average
                             Total Accum                    Value After       Annual
                             Value After         Full        Deduction         Total
                              Deduction       Surrender         For           Return
  End of      Surrender        For Surr         Admin        Admin Fee           n
   Qtr         Charge           Charge           Fee           (ERV)         P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                 <C>              <C>             <C>           <C>             <C>
   1999             (54.21)          720.25          (0.47)        719.78         -27.99%

</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>                  <C>      <C>            <C>           <C>       <C>
   1999      1.000000     1,000.000   1998        1.000000             0.000    1,000.000      0.774826      774.83

<CAPTION>

------------------------------------------------------------------------------------------
                                                            Total Accum       Average
                             Total Accum                    Value After       Annual
                             Value After         Full        Deduction         Total
                              Deduction       Surrender         For           Return
  End of      Surrender        For Surr         Admin        Admin Fee           n
   Qtr         Charge           Charge           Fee           (ERV)       P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>             <C>                  <C>              <C>          <C>            <C>
   1999                              774.83           0.00         774.83         -22.52%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                    Seligman - Communications and Information
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.60)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>           <C>        <C>                 <C>         <C>          <C>           <C>      <C>
1999         1.000000     1,000.000     1999       1.000000            (0.600)     999.400      0.774826      774.36   90% * 8%

<CAPTION>

------------------------------------------------------------------------------------------
                                                            Total Accum       Average
                             Total Accum                    Value After       Annual
                             Value After         Full        Deduction         Total
                              Deduction       Surrender         For           Return
  End of      Surrender        For Surr         Admin        Admin Fee           n
   Qtr         Charge           Charge           Fee           (ERV)        P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>                  <C>              <C>              <C>          <C>            <C>
1999                 (55.75)          718.61           0.00         718.61         -28.16%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>          <C>        <C>                  <C>      <C>            <C>           <C>        <C>
1999         1.000000     1,000.000    1999       1.000000             0.000    1,000.000      0.774826      774.83

<CAPTION>

--------------------------------------------------------------------------------------------
                                                              Total Accum       Average
                               Total Accum                    Value After       Annual
                               Value After         Full        Deduction         Total
                                Deduction       Surrender         For           Return
  End of        Surrender        For Surr         Admin        Admin Fee           n
   Qtr           Charge           Charge           Fee           (ERV)       P(1+T) = ERV
--------------------------------------------------------------------------------------------
<S>                 <C>                <C>              <C>          <C>            <C>
1999                                   774.83           0.00         774.83         -22.52%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                    Seligman - Communications and Information
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.37)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>          <C>        <C>                 <C>         <C>          <C>           <C>      <C>
1999         1.000000     1,000.000    1999       1.000000            (0.370)     999.630      0.774826      774.54   90% * 5%

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)         P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                <C>              <C>              <C>          <C>            <C>
1999               (34.85)          739.69           0.00         739.69         -26.04%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.37)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>          <C>        <C>                 <C>         <C>          <C>           <C>         <C>
1999         1.000000     1,000.000    1999       1.000000            (0.370)     999.630      0.774826      774.54

<CAPTION>

-----------------------------------------------------------------------------------------------
                                                                 Total Accum       Average
                                  Total Accum                    Value After       Annual
                                  Value After         Full        Deduction         Total
                                   Deduction       Surrender         For           Return
  End of           Surrender        For Surr         Admin        Admin Fee           n
   Qtr              Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-----------------------------------------------------------------------------------------------
<S>                 <C>                   <C>              <C>          <C>            <C>
1999                                      774.54           0.00         774.54         -22.22%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                     Seligman - Global Technology Portfolio
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.47)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>                 <C>         <C>          <C>           <C>         <C>
   1999      1.000000     1,000.000   1998        1.000000            (0.470)     999.530      0.847293      846.89      7%

<CAPTION>

-------------------------------------------------------------------------------------------
                                                             Total Accum       Average
                              Total Accum                    Value After       Annual
                              Value After         Full        Deduction         Total
                               Deduction       Surrender         For           Return
  End of       Surrender        For Surr         Admin        Admin Fee           n
   Qtr          Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S>                  <C>              <C>             <C>           <C>            <C>
   1999              (59.28)          787.61          (0.47)        787.14         -21.25%

</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>         <C>         <C>                  <C>      <C>            <C>           <C>       <C>
   1999      1.000000     1,000.000   1998        1.000000             0.000    1,000.000      0.847293      847.29

<CAPTION>

------------------------------------------------------------------------------------------
                                                            Total Accum       Average
                             Total Accum                    Value After       Annual
                             Value After         Full        Deduction         Total
                              Deduction       Surrender         For           Return
  End of      Surrender        For Surr         Admin        Admin Fee           n
   Qtr         Charge           Charge           Fee           (ERV)       P(1+T) = ERV
------------------------------------------------------------------------------------------
<S>               <C>                <C>              <C>          <C>            <C>
   1999                              847.29           0.00         847.29         -15.27%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                     Seligman - Global Technology Portfolio
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.60)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>          <C>        <C>                 <C>         <C>          <C>           <C>      <C>
1999         1.000000     1,000.000    1999       1.000000            (0.600)     999.400      0.847293      846.78   90% * 8%

<CAPTION>

----------------------------------------------------------------------------------------
                                                          Total Accum       Average
                           Total Accum                    Value After       Annual
                           Value After         Full        Deduction         Total
                            Deduction       Surrender         For           Return
  End of    Surrender        For Surr         Admin        Admin Fee           n
   Qtr       Charge           Charge           Fee           (ERV)       P(1+T) = ERV
----------------------------------------------------------------------------------------
<S>               <C>              <C>             <C>           <C>            <C>
1999              (60.97)          785.81          (0.60)        785.21         -21.43%

</TABLE>

<TABLE>
<CAPTION>
MAXI-FLEX (FLEXIBLE PREMIUM CONTRACT)
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/2000       Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>          <C>        <C>                  <C>      <C>            <C>           <C>       <C>
1999         1.000000     1,000.000    1999       1.000000             0.000    1,000.000      0.847293      847.29

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>             <C>                 <C>              <C>          <C>            <C>
1999                                847.29           0.00         847.29         -15.27%

</TABLE>

<PAGE>

                CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "C"
                     Seligman - Global Technology Portfolio
                           AVERAGE ANNUAL TOTAL RETURN
                                   09/30/2000


TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245



<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee            (0.37)    Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>          <C>        <C>                 <C>         <C>          <C>           <C>      <C>
1999         1.000000     1,000.000    1999       1.000000            (0.370)     999.630      0.847293      846.98   90% * 5%

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>                <C>              <C>              <C>          <C>             <C>
1999               (38.11)          808.87           0.00         808.87         -19.12%

</TABLE>

<TABLE>
<CAPTION>
GROUP DEFERRED
------------------------------------------------------------------------------------------------------------------------------------

                                              Unit Value         Accum
                          Accum                   For            Units
                          Units     Year of     Annual        (Deducted)        Total                      Total     Surrender
  End of      Unit      Purchased    Admin     Admin Fee      For Annual        Accum     09/30/00         Accum       Charge
   Qtr       Value     For $1,000     Fee             0.00     Admin Fee        Units      Unit Value      Value        Calc
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>          <C>        <C>                  <C>      <C>            <C>           <C>         <C>
1999         1.000000     1,000.000    1999       1.000000             0.000    1,000.000      0.847293      847.29

<CAPTION>

-----------------------------------------------------------------------------------------
                                                           Total Accum       Average
                            Total Accum                    Value After       Annual
                            Value After         Full        Deduction         Total
                             Deduction       Surrender         For           Return
  End of     Surrender        For Surr         Admin        Admin Fee           n
   Qtr        Charge           Charge           Fee           (ERV)       P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S>             <C>                 <C>              <C>          <C>            <C>
1999                                847.29           0.00         847.29         -15.27%

</TABLE>





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