Exh. 13
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST - BALANCED
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.298547 435.057 1999 2.286019 -0.866 434.191 3.346325 1,452.94 90 % X 9%
1998 1.917502 521.512 1998 2.147855 -0.922 519.724 3.346325 1,739.17 90 % X 9%
1997 2.017106 495.760 1997 2.017106 -0.982 492.990 3.346325 1,649.71 90 % X 8%
1996 1.584442 631.137 1996 1.584442 -1.250 627.118 3.346325 2,098.54 90 % X 7%
1995 1.294021 772.785 1995 1.294021 -1.530 767.236 3.346325 2,567.42 90 % X 5%
1994 1.035219 965.979 1994 1.035219 -1.913 958.517 3.346325 3,207.51 90 % X 3%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 992.538 3.346325 3,321.35 0%
<CAPTION>
----------------------------------------------------------------------------------
Total Accum Average
Total Accum Value After Annual
Value After Full Deduction Total
Deduction Surrender For Return
End of Surrender For Surr Admin Admin Fee n
Qtr Charge Charge Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -117.69 1,335.25 -1.98 1,333.27 33.33%
1998 -140.87 1,598.30 -1.98 1,596.32 26.35%
1997 -118.78 1,530.93 -1.98 1,528.95 15.20%
1996 -132.21 1,966.33 -1.98 1,964.35 18.39%
1995 -115.53 2,451.89 -1.98 2,449.91 19.62%
1994 -86.60 3,120.91 -1.98 3,118.93 20.87%
Incept 0.00 3,321.35 0.00 3,321.35 21.42%
Incep
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST - BALANCED
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-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 2.298547 435.057 1999 2.286019 0.000 435.057 3.346325 1,455.84 90 % X 9%
1998 1.917502 521.512 1998 2.147855 0.000 521.512 3.346325 1,745.15 90 % X 9%
1997 2.017106 495.760 1997 2.017106 0.000 495.760 3.346325 1,658.97 90 % X 8%
1996 1.584442 631.137 1996 1.584442 0.000 631.137 3.346325 2,111.99 90 % X 7%
1995 1.294021 772.785 1995 1.294021 0.000 772.785 3.346325 2,585.99 90 % X 5%
1994 1.035219 965.979 1994 1.035219 0.000 965.979 3.346325 3,232.48 90 % X 3%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 3.346325 3,346.33 90 % X 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>
1999 1,455.84 0.00 1,455.84 45.58%
1998 1,745.15 0.00 1,745.15 32.10%
1997 1,658.97 0.00 1,658.97 18.38%
1996 2,111.99 0.00 2,111.99 20.55%
1995 2,585.99 0.00 2,585.99 20.93%
1994 3,232.48 0.00 3,232.48 21.60%
Incept 3,346.33 0.00 3,346.33 21.56%
Incep
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN LEVERAGED ALLCAP
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 30-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 3.591554 278.431 1998 3.591554 -0.551 277.880 4.77969 1,328.18 90 % X 9%
1998 2.172734 460.250 1998 2.172734 -0.911 458.787 4.77969 2,192.86 90 % X 9%
1997 1.953309 511.952 1997 1.953309 -1.014 509.476 4.77969 2,435.14 90 % X 8%
1996 1.559995 641.028 1996 1.559995 -1.269 637.283 4.77969 3,046.01 90 % X 7%
1995 1.439590 694.642 1995 1.439590 -1.375 689.521 4.77969 3,295.70 90 % X 5%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 994.879 4.77969 4,755.21 90 % X 3%
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -107.58 1,220.60 -1.98 1,218.62 21.86%
1998 -177.62 2,015.24 -1.98 2,013.26 41.89%
1997 -175.33 2,259.81 -1.98 2,257.83 31.19%
1996 -191.90 2,854.11 -1.98 2,852.13 29.95%
1995 -148.31 3,147.39 -1.98 3,145.41 25.74%
Incep -128.39 4,626.82 -1.98 4,624.84 33.21%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN SMALL CAPITALIZATION
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 30-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.696738 589.366 1998 1.696738 -1.167 588.199 1.990627 1,170.88 90 % X 9%
1998 1.261267 792.854 1998 1.261267 -1.570 790.117 1.990627 1,572.83 90 % X 9%
1997 1.472027 679.335 1997 1.472027 -1.345 675.253 1.990627 1,344.18 90 % X 8%
1996 1.303837 766.967 1996 1.303837 -1.519 761.367 1.990627 1,515.60 90 % X 7%
1995 1.329356 752.244 1995 1.329356 -1.489 745.154 1.990627 1,483.32 90 % X 5%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 992.910 1.990627 1,976.51 90 % X 3%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -94.84 1,076.04 -1.98 1,074.06 7.41%
1998 -127.40 1,445.43 -1.98 1,443.45 20.14%
1997 -96.78 1,247.40 -1.98 1,245.42 7.60%
1996 -95.48 1,420.12 -1.98 1,418.14 9.13%
1995 -66.75 1,416.57 -1.98 1,414.59 7.18%
Incep -53.37 1,923.14 -1.98 1,921.16 13.00%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
September 30, 2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.055522 486.494 1998 2.055522 -0.963 485.531 2.463449 1,196.08 90 % X 9%
1998 1.505598 664.188 1998 1.505598 -1.315 661.910 2.463449 1,630.58 90 % X 9%
1997 1.344709 743.655 1997 1.344709 -1.472 739.904 2.463449 1,822.72 90 % X 8%
1996 1.011214 988.910 1996 1.011214 -1.958 983.201 2.463449 2,422.07 90 % X 7%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 994.291 2.463449 2,449.39 90 % X 5%
<CAPTION>
---------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -96.88 1,099.20 -1.98 1,097.22 9.74%
1998 -132.08 1,498.50 -1.98 1,496.52 22.33%
1997 -131.24 1,691.48 -1.98 1,689.50 19.11%
1996 -152.59 2,269.48 -1.98 2,267.50 22.71%
Incep -110.22 2,339.17 -1.98 2,337.19 21.18%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN MIDCAP GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
September 30, 2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.493522 669.558 1998 1.493522 -1.326 668.232 2.24927 1,503.03 90 % X 9%
1998 1.13548 880.685 1998 1.13548 -1.744 877.616 2.24927 1,973.99 90 % X 9%
1997 1.210715 825.958 1997 1.210715 -1.635 821.253 2.24927 1,847.22 90 % X 8%
1996 0.973950 1,026.747 1996 0.973950 -2.033 1,020.009 2.24927 2,294.28 90 % X 7%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 993.262 2.24927 2,234.11 90 % X 5%
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -121.75 1,381.28 -1.98 1,379.30 37.95%
1998 -159.89 1,814.10 -1.98 1,812.12 34.62%
1997 -133.00 1,714.22 -1.98 1,712.24 19.64%
1996 -144.54 2,149.74 -1.98 2,147.76 21.06%
Incep -100.53 2,133.58 -1.98 2,131.60 18.68%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN LEVERAGED ALLCAP
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 30-Sep-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 3.591554 278.431 1998 3.591554 0.000 278.431 4.77969 1,330.81
1998 2.172734 460.250 1998 2.172734 0.000 460.250 4.77969 2,199.85
1997 1.953309 511.952 1997 1.953309 0.000 511.952 4.77969 2,446.97
1996 1.559995 641.028 1996 1.559995 0.000 641.028 4.77969 3,063.92
1995 1.439590 694.642 1995 1.439590 0.000 694.642 4.77969 3,320.17
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 4.77969 4,779.69
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 1,330.81 0.00 1,330.81 33.08%
1998 2,199.85 0.00 2,199.85 48.32%
1997 2,446.97 0.00 2,446.97 34.75%
1996 3,063.92 0.00 3,063.92 32.30%
1995 3,320.17 0.00 3,320.17 27.13%
Incep 4,779.69 0.00 4,779.69 34.06%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN SMALL CAPITALIZATION
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 30-Sep-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 1.696738 589.366 1998 1.696738 0.000 589.366 1.990627 1,173.21
1998 1.261267 792.854 1998 1.261267 0.000 792.854 1.990627 1,578.28
1997 1.472027 679.335 1997 1.472027 0.000 679.335 1.990627 1,352.30
1996 1.303837 766.967 1996 1.303837 0.000 766.967 1.990627 1,526.75
1995 1.329356 752.244 1995 1.329356 0.000 752.244 1.990627 1,497.44
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.990627 1,990.63
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 1,173.21 0.00 1,173.21 17.32%
1998 1,578.28 0.00 1,578.28 25.63%
1997 1,352.30 0.00 1,352.30 10.58%
1996 1,526.75 0.00 1,526.75 11.16%
1995 1,497.44 0.00 1,497.44 8.41%
Incep 1,990.63 0.00 1,990.63 13.77%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 2.055522 486.494 1998 2.055522 0.000 486.494 2.463449 1,198.45
1998 1.505598 664.188 1998 1.505598 0.000 664.188 2.463449 1,636.19
1997 1.344709 743.655 1997 1.344709 0.000 743.655 2.463449 1,831.96
1996 1.011214 988.910 1996 1.011214 0.000 988.910 2.463449 2,436.13
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.463449 2,463.45
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 1,198.45 0.00 1,198.45 19.85%
1998 1,636.19 0.00 1,636.19 27.91%
1997 1,831.96 0.00 1,831.96 22.36%
1996 2,436.13 0.00 2,436.13 24.93%
Incep 2,463.45 0.00 2,463.45 22.65%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
ALGER AMERICAN MIDCAP GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.493522 669.558 1998 1.493522 0.000 669.558 2.24927 1,506.02
1998 1.13548 880.685 1998 1.13548 0.000 880.685 2.24927 1,980.90
1997 1.210715 825.958 1997 1.210715 0.000 825.958 2.24927 1,857.80
1996 0.973950 1,026.747 1996 0.973950 0.000 1,026.747 2.24927 2,309.43
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.24927 2,249.27
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 1,506.02 0.00 1,506.02 50.60%
1998 1,980.90 0.00 1,980.90 40.74%
1997 1,857.80 0.00 1,857.80 22.93%
1996 2,309.43 0.00 2,309.43 23.28%
Incep 2,249.27 0.00 2,249.27 20.15%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
AMERICAN CENTURY - INTERNATIONAL FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee $1.98 Admin Fee Units Unit Value Value Calc
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.407933 710.261 1998 1.407933 -1.406 708.855 1.799166 1,275.35 90 % X 9%
1998 1.107474 902.956 1998 1.107474 -1.788 899.762 1.799166 1,618.82 90 % X 9%
1997 1.138510 878.341 1997 1.138510 -1.739 873.408 1.799166 1,571.41 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.067 1.799166 1,790.29 90 % X 7%
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -103.30 1,172.05 -1.98 1,170.07 17.01%
1998 -131.12 1,487.70 -1.98 1,485.72 21.89%
1997 -113.14 1,458.27 -1.98 1,456.29 13.36%
Incept -112.79 1,677.50 -1.98 1,675.52 16.30%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
AMERICAN CENTURY - VALUE FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee $1.98 Admin Fee Units Unit Value Value Calc
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.262070 792.349 1998 1.262070 -1.569 790.780 1.281185 1,013.14 90 % X 9%
1998 1.144999 873.363 1998 1.144999 -1.729 870.065 1.281185 1,114.71 90 % X 9%
1997 1.235646 809.293 1997 1.235646 -1.602 804.392 1.281185 1,030.58 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.099 1.281185 1,274.91 90 % X 7%
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -82.06 931.08 -1.98 929.10 -7.07%
1998 -90.29 1,024.42 -1.98 1,022.44 1.12%
1997 -74.20 956.38 -1.98 954.40 -1.53%
Incept -80.32 1,194.59 -1.98 1,192.61 5.29%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
AMERICAN CENTURY - INCOME AND GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee $1.98 Admin Fee Units Unit Value Value Calc
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.110376 900.596 1998 1.110376 -1.783 898.813 1.198342 1,077.09 90 % X 9%
1998 0.892216 1,120.805 1998 0.892216 -2.219 1,116.803 1.198342 1,338.31 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.998 1.198342 1,193.55 90 % X 8%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -87.24 989.85 -1.98 987.87 -1.20%
1998 -108.40 1,229.91 -1.98 1,227.93 10.81%
Incept -85.94 1,107.61 -1.98 1,105.63 4.25%
</TABLE>
<PAGE>
AMERICAN CENTURY - INTERNATIONAL FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.407933 710.261 1998 1.407933 0.000 710.261 1.799166 1,277.88
1998 1.107474 902.956 1998 1.107474 0.000 902.956 1.799166 1,624.57
1997 1.138510 878.341 1997 1.138510 0.000 878.341 1.799166 1,580.28
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.799166 1,799.17
<CAPTION>
--------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 1,277.88 0.00 1,277.88 27.79%
1998 1,624.57 0.00 1,624.57 27.46%
1997 1,580.28 0.00 1,580.28 16.48%
Incept 1,799.17 0.00 1,799.17 18.76%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
AMERICAN CENTURY - VALUE FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.262070 792.349 1998 1.262070 0.000 792.349 1.281185 1,015.15
1998 1.144999 873.363 1998 1.144999 0.000 873.363 1.281185 1,118.94
1997 1.235646 809.293 1997 1.235646 0.000 809.293 1.281185 1,036.85
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.281185 1,281.19
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,015.15 0.00 1,015.15 1.51%
1998 1,118.94 0.00 1,118.94 5.78%
1997 1,036.85 0.00 1,036.85 1.21%
Incept 1,281.19 0.00 1,281.19 7.52%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
AMERICAN CENTURY - INCOME AND GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 1.110376 900.596 1998 1.110376 0.000 900.596 1.198342 1,079.22
1998 0.892216 1,120.805 1998 0.892216 0.000 1,120.805 1.198342 1,343.11
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.198342 1,198.34
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 1,079.22 0.00 1,079.22 7.92%
1998 1,343.11 0.00 1,343.11 15.89%
Incept 1,198.34 0.00 1,198.34 7.78%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE - ACCOUNT "E"
CST - FIXED INCOME
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.342861 744.679 1998 1.342861 -1.474 743.205 1.419436 1,054.93 90 % X 9%
1998 1.382238 723.464 1998 1.382238 -1.432 720.557 1.419436 1,022.78 90 % X 9%
1997 1.284387 778.582 1997 1.284387 -1.542 774.133 1.419436 1,098.83 90 % X 8%
1996 1.171121 853.883 1996 1.171121 -1.691 847.744 1.419436 1,203.32 90 % X 7%
1995 1.129751 885.151 1995 1.129751 -1.753 877.259 1.419436 1,245.21 90 % X 5%
1994 0.996328 1,003.686 1994 0.996328 -1.987 993.807 1.419436 1,410.65 90 % X 3%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 990.121 1.419436 1,405.41 0%
<CAPTION>
---------------------------------------------------------------------------------
Total Accum Average
Total Accum Value After Annual
Value After Full Deduction Total
Deduction Surrender For Return
End of Surrender For Surr Admin Admin Fee n
Qtr Charge Charge Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -85.45 969.48 -1.98 967.50 -3.25%
1998 -82.85 939.93 -1.98 937.95 -3.15%
1997 -79.12 1,019.71 -1.98 1,017.73 0.58%
1996 -75.81 1,127.51 -1.98 1,125.53 3.00%
1995 -56.03 1,189.18 -1.98 1,187.20 3.49%
1994 -38.09 1,372.56 -1.98 1,370.58 5.39%
Incept 0.00 1,405.41 -1.98 1,403.43 5.66%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE - ACCOUNT "E"
CST - FIXED INCOME
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 29-Sep-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 1.342861 744.679 1998 1.342861 0.000 744.679 1.419436 1,057.02 90 % X 9%
1998 1.382238 723.464 1998 1.382238 0.000 723.464 1.419436 1,026.91 90 % X 9%
1997 1.284387 778.582 1997 1.284387 0.000 778.582 1.419436 1,105.15 90 % X 8%
1996 1.171121 853.883 1996 1.171121 0.000 853.883 1.419436 1,212.03 90 % X 7%
1995 1.129751 885.151 1995 1.129751 0.000 885.151 1.419436 1,256.42 90 % X 5%
1994 0.996328 1,003.686 1994 0.996328 0.000 1,003.686 1.419436 1,424.67 90 % X 3%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.419436 1,419.44 0%
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Average
Total Accum Value After Annual
Value After Full Deduction Total
Deduction Surrender For Return
End of Surrender For Surr Admin Admin Fee n
Qtr Charge Charge Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 1,057.02 0.00 1,057.02 5.70%
1998 1,026.91 0.00 1,026.91 1.34%
1997 1,105.15 0.00 1,105.15 3.39%
1996 1,212.03 0.00 1,212.03 4.92%
1995 1,256.42 0.00 1,256.42 4.67%
1994 1,424.67 0.00 1,424.67 6.08%
Incept 1,419.44 0.00 1,419.44 5.83%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT GROWTH FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.375383 727.070 1998 1.375383 -1.440 725.631 2.177613 1,580.14 90 % X 9%
1998 1.024355 976.224 1998 1.024355 -1.933 972.852 2.177613 2,118.49 90 % X 9%
1997 1.217573 821.306 1997 1.217573 -1.626 816.307 2.177613 1,777.60 90 % X 8%
1996 1.002097 997.907 1996 1.002097 -1.976 990.933 2.177613 2,157.87 90 % X 7%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 993.025 2.177613 2,162.43 90 % X 5%
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -127.99 1,452.15 -1.98 1,450.17 45.04%
1998 -171.60 1,946.89 -1.98 1,944.91 39.46%
1997 -127.99 1,649.61 -1.98 1,647.63 18.12%
1996 -135.95 2,021.92 -1.98 2,019.94 19.22%
Incep -97.31 2,065.12 -1.98 2,063.14 17.81%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT GROWTH AND INCOME FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1998 1.890148 529.059 1998 1.890148 -1.048 528.011 2.868667 1,514.69 90 % X 9%
1998 1.398359 715.124 1998 1.398359 -1.416 712.661 2.868667 2,044.39 90 % X 9%
1997 1.383260 722.930 1997 1.383260 -1.431 719.035 2.868667 2,062.67 90 % X 9%
1996 1.033912 967.200 1996 1.033912 -1.915 961.390 2.868667 2,757.91 90 % X 8%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 994.190 2.868667 2,852.00 90 % X 7%
<CAPTION>
-------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1998 -122.69 1,392.00 -1.98 1,390.02 39.02%
1998 -165.60 1,878.79 -1.98 1,876.81 37.00%
1997 -148.51 1,914.16 -1.98 1,912.18 24.12%
1996 -173.75 2,584.16 -1.98 2,582.18 26.76%
Incep -128.34 2,723.66 -1.98 2,721.68 25.42%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT SMALL COMPANY
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.443843 692.596 1998 1.443843 -1.371 691.225 2.572988 1,778.51 90 % X 9%
1998 0.962812 1,038.624 1998 0.962812 -2.056 1,035.196 2.572988 2,663.55 90 % X 9%
1997 1.213643 823.966 1997 1.213643 -1.631 818.907 2.572988 2,107.04 90 % X 8%
1996 1.065722 938.331 1996 1.065722 -1.858 931.414 2.572988 2,396.52 90 % X 7%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 993.083 2.572988 2,555.19 90 % X 5%
<CAPTION>
---------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -144.06 1,634.45 -1.98 1,632.47 63.23%
1998 -215.75 2,447.80 -1.98 2,445.82 56.39%
1997 -151.71 1,955.33 -1.98 1,953.35 25.01%
1996 -150.98 2,245.54 -1.98 2,243.56 22.39%
Incep -114.98 2,440.21 -1.98 2,438.23 22.35%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT BIAM INTERNATIONAL
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.190298 840.126 1998 1.190298 -1.663 838.463 1.289902 1,081.53 90 % X 9%
1998 0.930370 1,074.841 1998 0.930370 -2.128 1,071.049 1.289902 1,381.55 90 % X 9%
1997 1.024012 976.551 1997 1.024012 -1.934 970.826 1.289902 1,252.27 90 % X 8%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 994.275 1.289902 1,282.52 90 % X 7%
-5.725 90 % X 5%
<CAPTION>
--------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -87.60 993.93 -1.98 991.95 -0.80%
1998 -111.91 1,269.64 -1.98 1,267.66 12.59%
1997 -90.16 1,162.11 -1.98 1,160.13 5.09%
Incep -80.80 1,201.72 -1.98 1,199.74 5.48%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT GROWTH FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.375383 727.070 1998 1.375383 0.000 727.070 2.177613 1,583.28 90 % X 9%
1998 1.024355 976.224 1998 1.024355 0.000 976.224 2.177613 2,125.84 90 % X 9%
1997 1.217573 821.306 1997 1.217573 0.000 821.306 2.177613 1,788.49 90 % X 8%
1996 1.002097 997.907 1996 1.002097 0.000 997.907 2.177613 2,173.06 90 % X 7%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.177613 2,177.61 90 % X 5%
<CAPTION>
---------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,583.28 0.00 1,583.28 58.33%
1998 2,125.84 0.00 2,125.84 45.80%
1997 1,788.49 0.00 1,788.49 21.38%
1996 2,173.06 0.00 2,173.06 21.41%
Incep 2,177.61 0.00 2,177.61 19.27%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT GROWTH AND INCOME FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1998 1.890148 529.059 1998 1.890148 0.000 529.059 2.868667 1,517.69 90 % X 9%
1998 1.398359 715.124 1998 1.398359 0.000 715.124 2.868667 2,051.45 90 % X 9%
1997 1.383260 722.930 1997 1.383260 0.000 722.930 2.868667 2,073.85 90 % X 9%
1996 1.033912 967.200 1996 1.033912 0.000 967.200 2.868667 2,774.57 90 % X 8%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.868667 2,868.67 90 % X 7%
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1998 1,517.69 0.00 1,517.69 51.77%
1998 2,051.45 0.00 2,051.45 43.23%
1997 2,073.85 0.00 2,073.85 27.52%
1996 2,774.57 0.00 2,774.57 29.06%
Incep 2,868.67 0.00 2,868.67 26.95%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT SMALL COMPANY
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.443843 692.596 1998 1.443843 0.000 692.596 2.572988 1,782.04 90 % X 9%
1998 0.962812 1,038.624 1998 0.962812 0.000 1,038.624 2.572988 2,672.37 90 % X 9%
1997 1.213643 823.966 1997 1.213643 0.000 823.966 2.572988 2,120.05 90 % X 8%
1996 1.065722 938.331 1996 1.065722 0.000 938.331 2.572988 2,414.31 90 % X 7%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.572988 2,572.99 90 % X 5%
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,782.04 0.00 1,782.04 78.20%
1998 2,672.37 0.00 2,672.37 63.47%
1997 2,120.05 0.00 2,120.05 28.46%
1996 2,414.31 0.00 2,414.31 24.65%
Incep 2,572.99 0.00 2,572.99 23.86%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
BERGER IPT BIAM INTERNATIONAL
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.190298 840.126 1998 1.190298 0.000 840.126 1.289902 1,083.68 90 % X 9%
1998 0.930370 1,074.841 1998 0.930370 0.000 1,074.841 1.289902 1,386.44 90 % X 9%
1997 1.024012 976.551 1997 1.024012 0.000 976.551 1.289902 1,259.66 90 % X 8%
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.289902 1,289.90 90 % X 7%
<CAPTION>
--------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,083.68 0.00 1,083.68 8.37%
1998 1,386.44 0.00 1,386.44 17.75%
1997 1,259.66 0.00 1,259.66 8.00%
Incep 1,289.90 0.00 1,289.90 7.74%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS STOCK INDEX
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.410374 414.873 1998 2.410374 -0.821 414.052 2.686442 1,112.33 90 % X 9%
1998 1.919256 521.035 1998 1.919256 -1.032 519.182 2.686442 1,394.75 90 % X 9%
1997 1.790429 558.525 1997 1.790429 -1.106 555.566 2.686442 1,492.50 90 % X 8%
1996 1.296866 771.090 1996 1.296866 -1.527 766.604 2.686442 2,059.44 90 % X 7%
1995 1.097648 911.039 1995 1.097648 -1.804 904.749 2.686442 2,430.56 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 993.710 2.686442 2,669.55 90 % X 3%
<CAPTION>
-------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -90.10 1,022.23 -1.98 1,020.25 2.04%
1998 -112.97 1,281.78 -1.98 1,279.80 13.13%
1997 -107.46 1,385.04 -1.98 1,383.06 11.43%
1996 -129.74 1,929.70 -1.98 1,927.72 17.83%
1995 -109.38 2,321.18 -1.98 2,319.20 18.32%
Incept -72.08 2,597.47 -1.98 2,595.49 19.55%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS SOCIALLY RESPONSIBLE GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.434670 410.733 1998 2.434670 -0.813 409.920 2.932862 1,202.24 90 % X 9%
1998 1.837722 544.152 1998 1.837722 -1.077 542.261 2.932862 1,590.38 90 % X 9%
1997 1.788243 559.208 1997 1.788243 -1.107 556.210 2.932862 1,631.29 90 % X 8%
1996 1.343991 744.053 1996 1.343991 -1.473 739.582 2.932862 2,169.09 90 % X 7%
1995 1.139753 877.383 1995 1.139753 -1.737 871.175 2.932862 2,555.04 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 993.792 2.932862 2,914.65 90 % X 3%
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -97.38 1,104.86 -1.98 1,102.88 10.30%
1998 -128.82 1,461.56 -1.98 1,459.58 20.81%
1997 -117.45 1,513.84 -1.98 1,511.86 14.78%
1996 -136.65 2,032.44 -1.98 2,030.46 19.37%
1995 -114.98 2,440.06 -1.98 2,438.08 19.51%
Incept -78.70 2,835.95 -1.98 2,833.97 21.54%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS DISCIPLINED STOCK
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.096363 912.107 1998 1.096363 -1.806 910.301 1.253877 1,141.41 90 % X 9%
1998 0.876616 1,140.750 1998 0.876616 -2.259 1,136.685 1.253877 1,425.26 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.935 1.253877 1,248.78 90 % X 8%
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -92.45 1,048.96 -1.98 1,046.98 4.71%
1998 -115.45 1,309.81 -1.98 1,307.83 14.36%
Incept -89.91 1,158.87 -1.98 1,156.89 6.23%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS INTERNATIONAL VALUE
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.088990 918.282 1998 1.088990 -1.818 916.464 1.078618 988.51 90 % X 9%
1998 0.819419 1,220.377 1998 0.819419 -2.416 1,216.142 1.078618 1,311.75 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.765 1.078618 1,074.05 90 % X 8%
<CAPTION>
-------------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -80.07 908.44 -1.98 906.46 -9.36%
1998 -106.25 1,205.50 -1.98 1,203.52 9.71%
Incept -77.33 996.72 -1.98 994.74 -0.20%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS STOCK INDEX
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 2.410374 414.873 1998 2.410374 0.000 414.873 2.686442 1,114.53
1998 1.919256 521.035 1998 1.919256 0.000 521.035 2.686442 1,399.73
1997 1.790429 558.525 1997 1.790429 0.000 558.525 2.686442 1,500.45
1996 1.296866 771.090 1996 1.296866 0.000 771.090 2.686442 2,071.49
1995 1.097648 911.039 1995 1.097648 0.000 911.039 2.686442 2,447.45
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.686442 2,686.44
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,114.53 0.00 1,114.53 11.45%
1998 1,399.73 0.00 1,399.73 18.31%
1997 1,500.45 0.00 1,500.45 14.48%
1996 2,071.49 0.00 2,071.49 19.97%
1995 2,447.45 0.00 2,447.45 19.60%
Incept 2,686.44 0.00 2,686.44 20.34%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS SOCIALLY RESPONSIBLE GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 2.434670 410.733 1998 2.434670 0.000 410.733 2.932862 1,204.62
1998 1.837722 544.152 1998 1.837722 0.000 544.152 2.932862 1,595.92
1997 1.788243 559.208 1997 1.788243 0.000 559.208 2.932862 1,640.08
1996 1.343991 744.053 1996 1.343991 0.000 744.053 2.932862 2,182.20
1995 1.139753 877.383 1995 1.139753 0.000 877.383 2.932862 2,573.24
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.932862 2,932.86
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,204.62 0.00 1,204.62 20.46%
1998 1,595.92 0.00 1,595.92 26.33%
1997 1,640.08 0.00 1,640.08 17.93%
1996 2,182.20 0.00 2,182.20 21.54%
1995 2,573.24 0.00 2,573.24 20.81%
Incept 2,932.86 0.00 2,932.86 22.34%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS DISCIPLINED STOCK
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 1.096363 912.107 1998 1.096363 0.000 912.107 1.253877 1,143.67
1998 0.876616 1,140.750 1998 0.876616 0.000 1,140.750 1.253877 1,430.36
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.253877 1,253.88
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,143.67 0.00 1,143.67 14.37%
1998 1,430.36 0.00 1,430.36 19.60%
Incept 1,253.88 0.00 1,253.88 9.81%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
DREYFUS INTERNATIONAL VALUE
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 1.088990 918.282 1998 1.088990 0.000 918.282 1.078618 990.48
1998 0.819419 1,220.377 1998 0.819419 0.000 1,220.377 1.078618 1,316.32
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.078618 1,078.62
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 990.48 0.00 990.48 -0.95%
1998 1,316.32 0.00 1,316.32 14.73%
Incept 1,078.62 0.00 1,078.62 3.18%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
FEDERATED HIGH INCOME BOND II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.355141 737.931 1999 1.355141 -1.461 736.470 1.335120 983.28 90 % X 9%
1998 1.331213 751.195 1998 1.331213 -1.487 748.247 1.335120 999.00 90 % X 9%
1997 1.326981 753.590 1997 1.326981 -1.492 749.149 1.335120 1,000.20 90 % X 8%
1996 1.156398 864.754 1996 1.156398 -1.712 858.601 1.335120 1,146.34 90 % X 7%
1995 1.030346 970.548 1995 1.030346 -1.922 962.474 1.335120 1,285.02 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 991.926 1.335120 1,324.34 90 % X 3%
<CAPTION>
--------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -79.65 903.63 -1.98 901.65 -9.83%
1998 -80.92 918.08 -1.98 916.10 -4.29%
1997 -72.01 928.19 -1.98 926.21 -2.52%
1996 -72.22 1,074.12 -1.98 1,072.14 1.76%
1995 -57.83 1,227.19 -1.98 1,225.21 4.14%
Incept -35.76 1,288.58 -1.98 1,286.60 4.83%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
FEDERATED INTERNATIONAL EQUITY II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.699899 588.270 1999 1.699899 -1.165 587.105 2.278177 1,337.53 90 % X 9%
1998 1.286863 777.083 1998 1.286863 -1.539 774.380 2.278177 1,764.17 90 % X 9%
1997 1.233493 810.706 1997 1.233493 -1.605 806.397 2.278177 1,837.12 90 % X 8%
1996 1.066199 937.911 1996 1.066199 -1.857 931.745 2.278177 2,122.68 90 % X 7%
1995 1.008786 991.291 1995 1.008786 -1.963 983.163 2.278177 2,239.82 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 991.872 2.278177 2,259.66 90 % X 3%
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -108.34 1,229.19 -1.98 1,227.21 22.71%
1998 -142.90 1,621.27 -1.98 1,619.29 27.25%
1997 -132.27 1,704.85 -1.98 1,702.87 19.42%
1996 -133.73 1,988.95 -1.98 1,986.97 18.73%
1995 -100.79 2,139.03 -1.98 2,137.05 16.41%
Incept -61.01 2,198.65 -1.98 2,196.67 15.88%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
FEDERATED UTILITY II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.685849 593.173 1999 1.685849 -1.174 591.999 1.708297 1,011.31 90 % X 9%
1998 1.629932 613.523 1998 1.629932 -1.215 611.134 1.708297 1,044.00 90 % X 9%
1997 1.369266 730.318 1997 1.369266 -1.446 726.483 1.708297 1,241.05 90 % X 8%
1996 1.128050 886.486 1996 1.128050 -1.755 880.895 1.708297 1,504.83 90 % X 7%
1995 1.059238 944.075 1995 1.059238 -1.869 936.615 1.708297 1,600.02 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 992.540 1.708297 1,695.55 90 % X 3%
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -81.92 929.39 -1.98 927.41 -7.25%
1998 -84.56 959.44 -1.98 957.46 -2.15%
1997 -89.36 1,151.69 -1.98 1,149.71 4.76%
1996 -94.80 1,410.03 -1.98 1,408.05 8.93%
1995 -72.00 1,528.02 -1.98 1,526.04 8.82%
Incept -45.78 1,649.77 -1.98 1,647.79 9.80%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
FEDERATED HIGH INCOME BOND II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.355141 737.931 1999 1.355141 0.000 737.931 1.335120 985.23 90 % X 9%
1998 1.331213 751.195 1998 1.331213 0.000 751.195 1.335120 1,002.94 90 % X 9%
1997 1.326981 753.590 1997 1.326981 0.000 753.590 1.335120 1,006.13 90 % X 8%
1996 1.156398 864.754 1996 1.156398 0.000 864.754 1.335120 1,154.55 90 % X 7%
1995 1.030346 970.548 1995 1.030346 0.000 970.548 1.335120 1,295.80 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.335120 1,335.12 90 % X 3%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 985.23 0.00 985.23 -1.48%
1998 1,002.94 0.00 1,002.94 0.15%
1997 1,006.13 0.00 1,006.13 0.20%
1996 1,154.55 0.00 1,154.55 3.66%
1995 1,295.80 0.00 1,295.80 5.32%
Incept 1,335.12 0.00 1,335.12 5.56%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
FEDERATED INTERNATIONAL EQUITY II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 1.699899 588.270 1999 1.699899 0.000 588.270 2.278177 1,340.18 90 % X 9%
1998 1.286863 777.083 1998 1.286863 0.000 777.083 2.278177 1,770.33 90 % X 9%
1997 1.233493 810.706 1997 1.233493 0.000 810.706 2.278177 1,846.93 90 % X 8%
1996 1.066199 937.911 1996 1.066199 0.000 937.911 2.278177 2,136.73 90 % X 7%
1995 1.008786 991.291 1995 1.008786 0.000 991.291 2.278177 2,258.34 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 2.278177 2,278.18 90 % X 3%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,340.18 0.00 1,340.18 34.02%
1998 1,770.33 0.00 1,770.33 33.05%
1997 1,846.93 0.00 1,846.93 22.69%
1996 2,136.73 0.00 2,136.73 20.90%
1995 2,258.34 0.00 2,258.34 17.69%
Incept 2,278.18 0.00 2,278.18 16.68%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
FEDERATED UTILITY II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.685849 593.173 1999 1.685849 0.000 593.173 1.708297 1,013.32 90 % X 9%
1998 1.629932 613.523 1998 1.629932 0.000 613.523 1.708297 1,048.08 90 % X 9%
1997 1.369266 730.318 1997 1.369266 0.000 730.318 1.708297 1,247.60 90 % X 8%
1996 1.128050 886.486 1996 1.128050 0.000 886.486 1.708297 1,514.38 90 % X 7%
1995 1.059238 944.075 1995 1.059238 0.000 944.075 1.708297 1,612.76 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.708297 1,708.30 90 % X 3%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,013.32 0.00 1,013.32 1.33%
1998 1,048.08 0.00 1,048.08 2.38%
1997 1,247.60 0.00 1,247.60 7.65%
1996 1,514.38 0.00 1,514.38 10.93%
1995 1,612.76 0.00 1,612.76 10.03%
Incept 1,708.30 0.00 1,708.30 10.55%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST - GOVERNMENT SECURITIES
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.280708 780.818 1998 1.280708 -1.546 779.272 1.342222 1,045.96 90 % X 9%
1998 1.330065 751.843 1998 1.330065 -1.489 748.808 1.342222 1,005.07 90 % X 9%
1997 1.221647 818.567 1997 1.221647 -1.621 813.912 1.342222 1,092.45 90 % X 8%
1996 1.142283 875.440 1996 1.142283 -1.733 869.051 1.342222 1,166.46 90 % X 7%
1995 1.114325 897.404 1995 1.114325 -1.777 889.238 1.342222 1,193.56 90 % X 5%
1994 0.997319 1,002.688 1994 0.997319 -1.985 992.537 1.342222 1,332.21 90 % X 3%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 989.849 1.342222 1,328.60 0%
<CAPTION>
------------------------------------------------------------------------------
Total Accum Average
Total Accum Value After Annual
Value After Full Deduction Total
Deduction Surrender For Return
End of Surrender For Surr Admin Admin Fee n
Qtr Charge Charge Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -84.72 961.24 -1.98 959.26 -4.08%
1998 -81.41 923.66 -1.98 921.68 -4.00%
1997 -78.66 1,013.79 -1.98 1,011.81 0.39%
1996 -73.49 1,092.97 -1.98 1,090.99 2.20%
1995 -53.71 1,139.85 -1.98 1,137.87 2.61%
1994 -35.97 1,296.24 -1.98 1,294.26 4.39%
Incept 0.00 1,328.60 -1.98 1,326.62 4.70%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST - GOVERNMENT SECURITIES
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 29-Sep-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 1.280708 780.818 1998 1.280708 0.000 780.818 1.342222 1,048.03 90 % X 9%
1998 1.330065 751.843 1998 1.330065 0.000 751.843 1.342222 1,009.14 90 % X 9%
1997 1.221647 818.567 1997 1.221647 0.000 818.567 1.342222 1,098.70 90 % X 8%
1996 1.142283 875.440 1996 1.142283 0.000 875.440 1.342222 1,175.03 90 % X 7%
1995 1.114325 897.404 1995 1.114325 0.000 897.404 1.342222 1,204.52 90 % X 5%
1994 0.997319 1,002.688 1994 0.997319 0.000 1,002.688 1.342222 1,345.83 90 % X 3%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.342222 1,342.22 0%
<CAPTION>
------------------------------------------------------------------------------
Total Accum Average
Total Accum Value After Annual
Value After Full Deduction Total
Deduction Surrender For Return
End of Surrender For Surr Admin Admin Fee n
Qtr Charge Charge Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,048.03 0.00 1,048.03 4.80%
1998 1,009.14 0.00 1,009.14 0.46%
1997 1,098.70 0.00 1,098.70 3.19%
1996 1,175.03 0.00 1,175.03 4.11%
1995 1,204.52 0.00 1,204.52 3.79%
1994 1,345.83 0.00 1,345.83 5.07%
Incept 1,342.22 0.00 1,342.22 4.87%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
INVESCO - HIGH YIELD FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.991391 1,008.684 1998 0.991391 -1.997 1,006.687 0.995347 1,002.00 90 % X 9%
1998 0.929264 1,076.120 1998 0.929264 -2.131 1,071.992 0.995347 1,067.00 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.872 0.995347 991.24 90 % X 8%
<CAPTION>
---------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -81.16 920.84 -1.98 918.86 -8.11%
1998 -86.43 980.57 -1.98 978.59 -1.08%
Incept -71.37 919.87 -1.98 917.89 -3.47%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
INVESCO - EQUITY INCOME
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.083156 923.228 1998 1.083156 -1.828 921.400 1.221009 1,125.04 90 % X 9%
1998 0.912693 1,095.659 1998 0.912693 -2.169 1,091.662 1.221009 1,332.93 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 996.003 1.221009 1,216.13 90 % X 8%
<CAPTION>
---------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -91.13 1,033.91 -1.98 1,031.93 3.21%
1998 -107.97 1,224.96 -1.98 1,222.98 10.59%
Incept -87.56 1,128.57 -1.98 1,126.59 5.06%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
INVESCO - HIGH YIELD FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 0.991391 1,008.684 1998 0.991391 0.000 1,008.684 0.995347 1,003.99 90 % X 9%
1998 0.929264 1,076.120 1998 0.929264 0.000 1,076.120 0.995347 1,071.11 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 0.995347 995.35 90 % X 8%
<CAPTION>
--------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,003.99 0.00 1,003.99 0.40%
1998 1,071.11 0.00 1,071.11 3.49%
Incept 995.35 0.00 995.35 -0.19%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
INVESCO - EQUITY INCOME
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.083156 923.228 1998 1.083156 0.000 923.228 1.221009 1,127.27 90 % X 9%
1998 0.912693 1,095.659 1998 0.912693 0.000 1,095.659 1.221009 1,337.81 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.221009 1,221.01 90 % X 8%
<CAPTION>
---------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,127.27 0.00 1,127.27 12.73%
1998 1,337.81 0.00 1,337.81 15.66%
Incept 1,221.01 0.00 1,221.01 8.61%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
JANUS AGGRESSIVE GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.775409 360.307 1998 2.775409 -0.713 359.594 4.328951 1,556.66 90 % X 9%
1998 1.477594 676.776 1998 1.477594 -1.340 674.723 4.328951 2,920.84 90 % X 9%
1997 1.475758 677.618 1997 1.475758 -1.342 674.223 4.328951 2,918.68 90 % X 8%
1996 1.391258 718.774 1996 1.391258 -1.423 713.956 4.328951 3,090.68 90 % X 7%
1995 1.204871 829.964 1995 1.204871 -1.643 823.502 4.328951 3,564.90 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 993.538 4.328951 4,300.98 90 % X 3%
<CAPTION>
------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -126.09 1,430.57 -1.98 1,428.59 42.84%
1998 -236.59 2,684.25 -1.98 2,682.27 63.78%
1997 -210.14 2,708.54 -1.98 2,706.56 39.37%
1996 -194.71 2,895.97 -1.98 2,893.99 30.43%
1995 -160.42 3,404.48 -1.98 3,402.50 27.75%
Incept -116.13 4,184.85 -1.98 4,182.87 30.73%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
JANUS GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.546205 392.741 1998 2.546205 -0.778 391.963 3.193923 1,251.90 90 % X 9%
1998 1.734865 576.414 1998 1.734865 -1.141 574.495 3.193923 1,834.89 90 % X 9%
1997 1.674110 597.332 1997 1.674110 -1.183 594.230 3.193923 1,897.93 90 % X 8%
1996 1.335080 749.019 1996 1.335080 -1.483 744.434 3.193923 2,377.67 90 % X 7%
1995 1.116681 895.511 1995 1.116681 -1.773 889.153 3.193923 2,839.89 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 993.642 3.193923 3,173.62 90 % X 3%
<CAPTION>
------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -101.40 1,150.50 -1.98 1,148.52 14.86%
1998 -148.63 1,686.26 -1.98 1,684.28 29.78%
1997 -136.65 1,761.28 -1.98 1,759.30 20.72%
1996 -149.79 2,227.88 -1.98 2,225.90 22.15%
1995 -127.80 2,712.09 -1.98 2,710.11 22.06%
Incept -85.69 3,087.93 -1.98 3,085.95 23.49%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
JANUS WORLDWIDE GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.699958 370.376 1998 2.699958 -0.733 369.643 3.660951 1,353.24 90 % X 9%
1998 1.959264 510.396 1998 1.959264 -1.011 508.652 3.660951 1,862.15 90 % X 9%
1997 1.931963 517.608 1997 1.931963 -1.025 514.839 3.660951 1,884.80 90 % X 8%
1996 1.469659 680.430 1996 1.469659 -1.347 676.314 3.660951 2,475.95 90 % X 7%
1995 1.153701 866.776 1995 1.153701 -1.716 860.944 3.660951 3,151.87 90 % X 5%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 994.168 3.660951 3,639.60 90 % X 3%
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -109.61 1,243.63 -1.98 1,241.65 24.17%
1998 -150.83 1,711.32 -1.98 1,709.34 30.74%
1997 -135.71 1,749.09 -1.98 1,747.11 20.45%
1996 -155.98 2,319.97 -1.98 2,317.99 23.39%
1995 -141.83 3,010.04 -1.98 3,008.06 24.64%
Incept -98.27 3,541.33 -1.98 3,539.35 26.70%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
JANUS AGGRESSIVE GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 2.775409 360.307 1998 2.775409 0.000 360.307 4.328951 1,559.75
1998 1.477594 676.776 1998 1.477594 0.000 676.776 4.328951 2,929.73
1997 1.475758 677.618 1997 1.475758 0.000 677.618 4.328951 2,933.38
1996 1.391258 718.774 1996 1.391258 0.000 718.774 4.328951 3,111.54
1995 1.204871 829.964 1995 1.204871 0.000 829.964 4.328951 3,592.87
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 4.328951 4,328.95
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,559.75 0.00 1,559.75 55.98%
1998 2,929.73 0.00 2,929.73 71.16%
1997 2,933.38 0.00 2,933.38 43.15%
1996 3,111.54 0.00 3,111.54 32.81%
1995 3,592.87 0.00 3,592.87 29.15%
Incept 4,328.95 0.00 4,328.95 31.60%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
JANUS GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 2.546205 392.741 1998 2.546205 0.000 392.741 3.193923 1,254.38
1998 1.734865 576.414 1998 1.734865 0.000 576.414 3.193923 1,841.02
1997 1.674110 597.332 1997 1.674110 0.000 597.332 3.193923 1,907.83
1996 1.335080 749.019 1996 1.335080 0.000 749.019 3.193923 2,392.31
1995 1.116681 895.511 1995 1.116681 0.000 895.511 3.193923 2,860.19
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 3.193923 3,193.92
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,254.38 0.00 1,254.38 25.44%
1998 1,841.02 0.00 1,841.02 35.68%
1997 1,907.83 0.00 1,907.83 24.03%
1996 2,392.31 0.00 2,392.31 24.37%
1995 2,860.19 0.00 2,860.19 23.39%
Incept 3,193.92 0.00 3,193.92 24.31%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
JANUS WORLDWIDE GROWTH
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 2.699958 370.376 1998 2.699958 0.000 370.376 3.660951 1,355.93
1998 1.959264 510.396 1998 1.959264 0.000 510.396 3.660951 1,868.53
1997 1.931963 517.608 1997 1.931963 0.000 517.608 3.660951 1,894.94
1996 1.469659 680.430 1996 1.469659 0.000 680.430 3.660951 2,491.02
1995 1.153701 866.776 1995 1.153701 0.000 866.776 3.660951 3,173.22
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 3.660951 3,660.95
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,355.93 0.00 1,355.93 35.59%
1998 1,868.53 0.00 1,868.53 36.69%
1997 1,894.94 0.00 1,894.94 23.75%
1996 2,491.02 0.00 2,491.02 25.63%
1995 3,173.22 0.00 3,173.22 25.98%
Incept 3,660.95 0.00 3,660.95 27.53%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
LORD ABBETT - GROWTH AND INCOME
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.050995 951.479 1998 1.050995 -1.884 949.595 1.214694 1,153.47 90 % X 9%
1998 0.861566 1,160.677 1998 0.861566 -2.298 1,156.495 1.214694 1,404.79 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.818 1.214694 1,209.61 90 % X 8%
<CAPTION>
-------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -93.43 1,060.04 -1.98 1,058.06 5.82%
1998 -113.79 1,291.00 -1.98 1,289.02 13.54%
Incept -87.09 1,122.52 -1.98 1,120.54 4.84%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
LORD ABBETT - GROWTH AND INCOME
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 1.050995 951.479 1998 1.050995 0.000 951.479 1.214694 1,155.76
1998 0.861566 1,160.677 1998 0.861566 0.000 1,160.677 1.214694 1,409.87
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.214694 1,214.69
<CAPTION>
------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,155.76 0.00 1,155.76 15.58%
1998 1,409.87 0.00 1,409.87 18.74%
Incept 1,214.69 0.00 1,214.69 8.38%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
LAZARD - EQUITY
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.054507 948.310 1998 1.054507 -1.878 946.432 1.114986 1,055.26 90 % X 9%
< 1998 0.888175 1,125.904 1998 0.888175 -2.229 1,121.797 1.114986 1,250.79 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.893 1.114986 1,110.41 90 % X 8%
<CAPTION>
---------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -85.48 969.78 -1.98 967.80 -3.20%
< 1998 -101.31 1,149.48 -1.98 1,147.50 7.12%
Incept -79.95 1,030.46 -1.98 1,028.48 1.19%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
LAZARD - SMALL
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.878476 1,138.335 1998 0.878476 -2.254 1,136.081 1.006304 1,143.24 90 % X 9%
1998 0.765400 1,306.506 1998 0.765400 -2.587 1,301.665 1.006304 1,309.87 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.159 1.006304 1,001.43 90 % X 8%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -92.60 1,050.64 -1.98 1,048.66 4.88%
1998 -106.10 1,203.77 -1.98 1,201.79 9.63%
Incept -72.10 929.33 -1.98 927.35 -3.04%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
LAZARD - EQUITY
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 1.054507 948.310 1998 1.054507 0.000 948.310 1.114986 1,057.35
1998 0.888175 1,125.904 1998 0.888175 0.000 1,125.904 1.114986 1,255.37
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.114986 1,114.99
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,057.35 0.00 1,057.35 5.74%
1998 1,255.37 0.00 1,255.37 12.04%
Incept 1,114.99 0.00 1,114.99 4.61%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
LAZARD - SMALL
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 0.878476 1,138.335 1998 0.878476 0.000 1,138.335 1.006304 1,145.51
1998 0.765400 1,306.506 1998 0.765400 0.000 1,306.506 1.006304 1,314.74
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.006304 1,006.30
<CAPTION>
---------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,145.51 0.00 1,145.51 14.55%
1998 1,314.74 0.00 1,314.74 14.66%
Incept 1,006.30 0.00 1,006.30 0.26%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
MITCHELL HUTCHINS - GROWTH AND INCOME
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.959017 1,042.734 1998 0.959017 -2.065 1040.67 1.025193 1,066.89 90 % X 9%
1998 0.830043 1,204.757 1998 0.830043 -2.385 1202.37 1.025193 1,232.66 90 % X 9%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 997.61 1.025193 1,022.75 90 % X 8%
<CAPTION>
-----------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -86.42 980.47 -1.98 978.49 -2.14%
1998 -99.85 1,132.81 -1.98 1,130.83 6.34%
Incept -73.64 949.11 -1.98 947.13 -2.28
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
MITCHELL HUTCHINS - GROWTH AND INCOME
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
1999 0.959017 1,042.734 1998 0.959017 0.000 1042.73 1.025193 1,069.00
1998 0.830043 1,204.757 1998 0.830043 0.000 1204.76 1.025193 1,235.11
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 1.025193 1,025.19
<CAPTION>
------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,069.00 0.00 1,069.00 6.90%
1998 1,235.11 0.00 1,235.11 11.14%
Incept 1,025.19 0.00 1,025.19 1.03%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
NEUBERGER BERMAN - LIMITED MATURITY BOND FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.074249 930.883 1998 1.074249 -1.843 929.040 1.108785 1,030.11 90 % X 9%
1998 1.074481 930.682 1998 1.074481 -1.843 926.996 1.108785 1,027.84 90 % X 9%
1997 1.034223 966.909 1997 1.034223 -1.914 961.309 1.108785 1,065.88 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 994.400 1.108785 1,102.58 90 % X 7%
<CAPTION>
-----------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -83.44 946.67 -1.98 944.69 -5.53%
1998 -83.26 944.58 -1.98 942.60 -2.91%
1997 -76.74 989.14 -1.98 987.16 -0.43%
Incept -69.46 1,033.12 -1.98 1,031.14 0.90%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
NEUBERGER BERMAN - PARTNERS FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.244166 803.751 1998 1.244166 -1.591 802.160 1.336822 1,072.34 90 % X 9%
1998 1.105692 904.411 1998 1.105692 -1.791 901.029 1.336822 1,204.52 90 % X 9%
1997 1.252115 798.649 1997 1.252115 -1.581 793.686 1.336822 1,061.02 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.037 1.336822 1,330.19 90 % X 7%
<CAPTION>
-----------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1999 -86.86 985.48 -1.98 983.50 -1.62%
1998 -97.57 1,106.95 -1.98 1,104.97 5.12%
1997 -76.39 984.63 -1.98 982.65 -0.57%
Incept -83.80 1,246.39 -1.98 1,244.41 6.61%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
NEUBERGER BERMAN - LIMITED MATURITY BOND FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.074249 930.883 1998 1.074249 0.000 930.883 1.108785 1,032.15 90 % X 9%
1998 1.074481 930.682 1998 1.074481 0.000 930.682 1.108785 1,031.93 90 % X 9%
1997 1.034223 966.909 1997 1.034223 0.000 966.909 1.108785 1,072.09 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.108785 1,108.79 90 % X 7%
<CAPTION>
------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,032.15 0.00 1,032.15 3.21%
1998 1,031.93 0.00 1,031.93 1.58%
1997 1,072.09 0.00 1,072.09 2.35%
Incept 1,108.79 0.00 1,108.79 3.07%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
NEUBERGER BERMAN - PARTNERS FUND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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 1.244166 803.751 1998 1.244166 0.000 803.751 1.336822 1,074.47 90 % X 9%
1998 1.105692 904.411 1998 1.105692 0.000 904.411 1.336822 1,209.04 90 % X 9%
1997 1.252115 798.649 1997 1.252115 0.000 798.649 1.336822 1,067.65 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.336822 1,336.82 90 % X 7%
<CAPTION>
-----------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1999 1,074.47 0.00 1,074.47 7.45%
1998 1,209.04 0.00 1,209.04 9.96%
1997 1,067.65 0.00 1,067.65 2.21%
Incept 1,336.82 0.00 1,336.82 8.87%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST Focus 20
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 1.335776 1,335.78 90 % X 9%
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept -108.20 1,227.58 -1.98 1,225.60 22.56%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST HY
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 1.010237 1,010.24 90 % X 9%
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept -81.83 928.41 -1.98 926.43 -7.36%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Berger new Gen
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 1.039844 1,039.84 90 % X 9%
<CAPTION>
-------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept -84.23 955.61 -1.98 953.63 -4.64%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Seligman Communications
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 0.773517 773.52 90 % X 9%
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept -62.66 710.86 -1.98 708.88 -29.11%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Seligman Technology
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 0.845863 845.86 90 % X 9%
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept -68.51 777.35 -1.98 775.37 -22.46%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Rydex Nova
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incept 18.407580 54.325 N/A 0.000000 0.000 54.33 17.572956 954.65 90 % X 9%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept -77.33 877.32 -1.98 875.34 -12.64%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Rydex OTC
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-00 Accum Charge
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc
------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Incept 39.086082 25.585 N/A 0.000000 0.000 25.59 36.494889 933.72 90 % X 9%
<CAPTION>
-----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept -75.63 858.09 -1.98 856.11 -14.66%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST Focus 20
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 1.335776 1,335.78 90 % X 9%
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept 1,335.78 0.00 1,335.78 33.58%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST HY
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 1.010237 1,010.24 90 % X 9%
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept 1,010.24 0.00 1,010.24 1.02%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Berger new Gen
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 1.039844 1,039.84 90 % X 9%
<CAPTION>
--------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept 1,039.84 0.00 1,039.84 3.98%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Seligman Communications
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 0.773517 773.52 90 % X 9%
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept 773.52 0.00 773.52 -22.65%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Seligman Technology
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1000.00 0.845863 845.86 90 % X 9%
<CAPTION>
------------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept 845.86 0.00 845.86 -15.41%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Rydex Nova
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
Incept 18.407580 54.325 N/A 0.000000 0.000 54.33 17.572956 954.65 90 % X 9%
<CAPTION>
----------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept 954.65 0.00 954.65 -4.53%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
Rydex OTC
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
TO MEET COMPLIANCE REQUIREMENTS OF SEC RELEASE IC-16245
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Accumulated Unit Value Accumulated
Units Year of For Annual Units Deducted Total Total Surrender
End of Unit Purchased Admin Admin Fee For Annual Accum 29-Sep-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>
Incept 39.086082 25.585 N/A 0.000000 0.000 25.59 36.494889 933.72 90 % X 9%
<CAPTION>
--------------------------------------------------------------------------------------
Total Accum Value after Average Annual
Value after Full Deduction for Total Return
End of Surrender Deduction for Surrender Admin Fee n
Qtr Charge Surr Charge Admin Fee (ERV) P(1+T) = ERV
--------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Incept 933.72 0.00 933.72 -6.63%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST - EQUITY
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 3.103192 322.249 1999 3.103192 -0.638 321.611 5.159191 1,659.25 90 % X 9% -134.40
1998 2.159685 463.030 1998 2.159685 -0.917 461.475 5.159191 2,380.84 90 % X 9% -192.85
1997 2.564485 389.942 1997 2.564485 -0.772 387.615 5.159191 1,999.78 90 % X 8% -143.98
1996 1.860702 537.432 1996 1.860702 -1.064 534.041 5.159191 2,755.22 90 % X 7% -173.58
1995 1.402418 713.054 1995 1.402418 -1.412 708.251 5.159191 3,654.00 90 % X 5% -164.43
1994 1.070645 934.016 1994 1.070645 -1.849 927.364 5.159191 4,784.45 90 % X 3% -129.18
Incept 1.000000 1,000.000 N/A 0.000000 0.000 993.348 5.159191 5,124.87 0%
<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 1,524.85 -1.98 1,522.87 52.29%
1998 2,187.99 -1.98 2,186.01 47.85%
1997 1,855.80 -1.98 1,853.82 22.85%
1996 2,581.64 -1.98 2,579.66 26.73%
1995 3,489.57 -1.98 3,487.59 28.37%
1994 4,655.27 -1.98 4,653.29 29.21%
Incept 5,124.87 5,124.87 30.24%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
CST - EQUITY
INDIVIDUAL AND GROUP - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 3.103192 322.249 1999 3.103192 0.000 322.249 5.159191 1,662.54 90 % X 9%
1998 2.159685 463.030 1998 2.159685 0.000 463.030 5.159191 2,388.86 90 % X 9%
1997 2.564485 389.942 1997 2.564485 0.000 389.942 5.159191 2,011.79 90 % X 8%
1996 1.860702 537.432 1996 1.860702 0.000 537.432 5.159191 2,772.71 90 % X 7%
1995 1.402418 713.054 1995 1.402418 0.000 713.054 5.159191 3,678.78 90 % X 5%
1994 1.070645 934.016 1994 1.070645 0.000 934.016 5.159191 4,818.77 90 % X 3%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 5.159191 5,159.19 0%
<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 1,662.54 0.00 1,662.54 66.25%
1998 2,388.86 0.00 2,388.86 54.56%
1997 2,011.79 0.00 2,011.79 26.24%
1996 2,772.71 0.00 2,772.71 29.04%
1995 3,678.78 0.00 3,678.78 29.76%
1994 4,818.77 0.00 4,818.77 29.96%
Incept 5,159.19 5,159.19 30.37%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
STRONG - MID CAP GROWTH FUND II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.097016 476.868 1998 2.097016 -0.944 475.924 3.331422 1,585.50 90 % X 9% -128.43
1998 1.301352 768.432 1998 1.301352 -1.521 765.966 3.331422 2,551.76 90 % X 9% -206.69
1997 1.307592 764.765 1997 1.307592 -1.514 760.785 3.331422 2,534.50 90 % X 8% -182.48
Incept 1.000000 1,000.000 N/A 0.000000 0.000 996.020 3.331422 3,318.16 90 % X 7% -209.04
<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 1,457.07 -1.98 1,455.09 45.50%
1998 2,345.07 -1.98 2,343.09 53.07%
1997 2,352.02 -1.98 2,350.04 32.95%
Incept 3,109.12 -1.98 3,107.14 39.30%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
STRONG - OPPORTUNITY FUND II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.558954 641.456 1998 1.558954 -1.270 640.186 1.918130 1,227.96 90 % X 9% -99.46
1998 1.178421 848.593 1998 1.178421 -1.680 845.643 1.918130 1,622.05 90 % X 9% -131.39
1997 1.249960 800.026 1997 1.249960 -1.584 795.492 1.918130 1,525.86 90 % X 8% -109.86
Incept 1.000000 1,000.000 N/A 0.000000 0.000 995.466 1.918130 1,909.43 90 % X 7% -120.29
<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 1,128.50 -1.98 1,126.52 12.67%
1998 1,490.66 -1.98 1,488.68 22.01%
1997 1,416.00 -1.98 1,414.02 12.25%
Incept 1,789.14 -1.98 1,787.16 18.51%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
STRONG - MID CAP GROWTH FUND II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 2.097016 476.868 1998 2.097016 0.000 476.868 3.331422 1,588.65 90 % X 9%
1998 1.301352 768.432 1998 1.301352 0.000 768.432 3.331422 2,559.97 90 % X 9%
1997 1.307592 764.765 1997 1.307592 0.000 764.765 3.331422 2,547.75 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 3.331422 3,331.42 90 % X 7%
<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 1,588.65 0.00 1,588.65 58.86%
1998 2,559.97 0.00 2,559.97 60.00%
1997 2,547.75 0.00 2,547.75 36.58%
Incept 3,331.42 0.00 3,331.42 42.22%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
STRONG - OPPORTUNITY FUND II
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
09/30/00
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.558954 641.456 1998 1.558954 0.000 641.456 1.918130 1,230.40 90 % X 9%
1998 1.178421 848.593 1998 1.178421 0.000 848.593 1.918130 1,627.71 90 % X 9%
1997 1.249960 800.026 1997 1.249960 0.000 800.026 1.918130 1,534.55 90 % X 8%
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.918130 1,918.13 90 % X 7%
<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 1,230.40 0.00 1,230.40 23.04%
1998 1,627.71 0.00 1,627.71 27.58%
1997 1,534.55 0.00 1,534.55 15.34%
Incept 1,918.13 0.00 1,918.13 21.00%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK HARD ASSETS
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.962579 1,038.876 1999 0.962579 -2.057 1,036.819 1.063044 1,102.18 90 % X 9% -89.28
1998 0.844528 1,184.093 1998 0.844528 -2.345 1,179.692 1.063044 1,254.06 90 % X 9% -101.58
1997 1.417954 705.241 1997 1.417954 -1.396 699.443 1.063044 743.54 90 % X 8% -53.53
1996 1.173308 852.291 1996 1.173308 -1.688 844.806 1.063044 898.07 90 % X 7% -56.58
1995 1.08783 919.261 1995 1.08783 -1.820 909.955 1.063044 967.32 90 % X 5% -43.53
Incept 1.000000 1,000.000 N/A 0.000000 0.000 990.694 1.063044 1,053.15 90 % X 3% -28.44
<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 1,012.90 -1.98 1,010.92 1.10%
1998 1,152.48 -1.98 1,150.50 7.26%
1997 690.01 -1.98 688.03 -11.71%
1996 841.49 -1.98 839.51 -4.28%
1995 923.79 -1.98 921.81 -1.61%
Incept 1,024.71 -1.98 1,022.73 0.43%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK WORLDWIDE BOND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.076584 928.864 1999 1.076584 -1.839 927.025 1.006586 933.13 90 % X 9% -75.58
1998 1.150035 869.539 1998 1.150035 -1.722 865.978 1.006586 871.68 90 % X 9% -70.61
1997 1.028586 972.208 1997 1.028586 -1.925 966.722 1.006586 973.09 90 % X 8% -70.06
1996 1.003085 996.924 1996 1.003085 -1.974 989.464 1.006586 995.98 90 % X 7% -62.75
1995 1.002571 997.436 1995 1.002571 -1.975 988.001 1.006586 994.51 90 % X 5% -44.75
Incept 1.000000 1,000.000 N/A 0.000000 0.000 990.565 1.006586 997.09 90 % X 3% -26.92
<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 857.55 -1.98 855.57 -14.44%
1998 801.07 -1.98 799.09 -10.61%
1997 903.03 -1.98 901.05 -3.42%
1996 933.23 -1.98 931.25 -1.76%
1995 949.76 -1.98 947.78 -1.07%
Incept 970.17 -1.98 968.19 -0.61%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK WORLDWIDE EMERGING MARKETS
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.812334 1,231.021 1999 0.812334 -2.437 1,228.584 0.9499969 1,167.15 90 % X 9% -94.54
1998 0.533769 1,873.470 1998 0.533769 -3.709 1,867.323 0.9499969 1,773.95 90 % X 9% -143.69
1997 1.33874 746.971 1997 1.33874 -1.479 739.345 0.9499969 702.38 90 % X 8% -50.57
1996 1.104359 905.503 1996 1.104359 -1.793 896.084 0.9499969 851.28 90 % X 7% -53.63
Incep 1.000000 1,000.000 N/A 0.000000 0.000 990.581 0.9499969 941.05 90 % X 5% -42.35
<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 1,072.61 -1.98 1,070.63 7.09%
1998 1,630.26 -1.98 1,628.28 27.60%
1997 651.81 -1.98 649.83 -13.32%
1996 797.65 -1.98 795.67 -5.55%
Incep 898.70 -1.98 896.72 -2.40%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK REAL ESTATE
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.858049 1,165.435 1999 0.858049 -2.308 1,163.127 0.929701 1,081.36 90 % X 9% -87.59
1998 0.811462 1,232.344 1998 0.811462 -2.440 1,227.596 0.929701 1,141.30 90 % X 9% -92.45
Incep 1.000000 1,000.000 N/A 0.000000 0.000 995.252 0.929701 925.29 90 % X 8% -66.62
-4.748
-4.748
-4.748
<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 993.77 -1.98 991.79 -0.80%
1998 1,048.85 -1.98 1,046.87 2.32%
Incep 858.67 -1.98 856.69 -6.17%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK HARD ASSETS
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.962579 1,038.876 1999 0.962579 0.000 1,038.876 1.063044 1,104.37
1998 0.844528 1,184.093 1998 0.844528 0.000 1,184.093 1.063044 1,258.74
1997 1.417954 705.241 1997 1.417954 0.000 705.241 1.063044 749.70
1996 1.173308 852.291 1996 1.173308 0.000 852.291 1.063044 906.02
1995 1.08783 919.261 1995 1.08783 0.000 919.261 1.063044 977.21
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.063044 1,063.04
<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 1,104.37 0.00 1,104.37 10.44%
1998 1,258.74 0.00 1,258.74 12.19%
1997 749.70 0.00 749.70 -9.16%
1996 906.02 0.00 906.02 -2.44%
1995 977.21 0.00 977.21 -0.46%
Incept 1,063.04 0.00 1,063.04 1.15%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK WORLDWIDE BOND
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 1.076584 928.864 1999 1.076584 0.000 928.864 1.006586 934.98
1998 1.150035 869.539 1998 1.150035 0.000 869.539 1.006586 875.27
1997 1.028586 972.208 1997 1.028586 0.000 972.208 1.006586 978.61
1996 1.003085 996.924 1996 1.003085 0.000 996.924 1.006586 1,003.49
1995 1.002571 997.436 1995 1.002571 0.000 997.436 1.006586 1,004.01
Incept 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 1.006586 1,006.59
<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 934.98 0.00 934.98 -6.50%
1998 875.27 0.00 875.27 -6.44%
1997 978.61 0.00 978.61 -0.72%
1996 1,003.49 0.00 1,003.49 0.09%
1995 1,004.01 0.00 1,004.01 0.08%
Incept 1,006.59 0.00 1,006.59 0.12%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK WORLDWIDE EMERGING MARKETS
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.812334 1,231.021 1999 0.812334 0.000 1,231.021 0.9499969 1,169.47
1998 0.533769 1,873.470 1998 0.533769 0.000 1,873.470 0.9499969 1,779.79
1997 1.33874 746.971 1997 1.33874 0.000 746.971 0.9499969 709.62
1996 1.104359 905.503 1996 1.104359 0.000 905.503 0.9499969 860.23
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 0.9499969 950.00
<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 1,169.47 0.00 1,169.47 16.94%
1998 1,779.79 0.00 1,779.79 33.41%
1997 709.62 0.00 709.62 -10.81%
1996 860.23 0.00 860.23 -3.69%
Incep 950.00 0.00 950.00 -1.16%
</TABLE>
<PAGE>
CONSECO VARIABLE INSURANCE COMPANY - ACCOUNT "E"
VAN ECK REAL ESTATE
INDIVIDUAL & GROUP PROSPECTUS - FUTURE RESERVE
AVERAGE ANNUAL TOTAL RETURN
9/30/2000
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 30-Sep-00 Accum Charge Surrender
Qtr Value For $1,000 Fee -$1.98 Admin Fee Units Unit Value Value Calc Charge
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1999 0.858049 1,165.435 1999 0.858049 0.000 1,165.435 0.929701 1,083.51
1998 0.811462 1,232.344 1998 0.811462 0.000 1,232.344 0.929701 1,145.71
Incep 1.000000 1,000.000 N/A 0.000000 0.000 1,000.000 0.929701 929.70
<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 1,083.51 0.00 1,083.51 8.35%
1998 1,145.71 0.00 1,145.71 7.04%
Incep 929.70 0.00 929.70 -2.97%
</TABLE>
