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>