Conning Obtains Contract to Originate Commercial Mortgages and CMBS Allocation for Reinsurance Group of America

March 29, 2001

ST. LOUIS--(BUSINESS WIRE)--March 29, 2001--Conning Corporation announced today that it has entered into an agreement to continue to originate and service commercial mortgages for Reinsurance Group of America (NYSE:RGA). In addition, Conning received a first time allocation to purchase Commercial Mortgage-Backed Securities (CMBS) investments for RGA's portfolio. The contract effective immediately, is for Conning to originate mortgages and purchase CMBS investments using the specific characteristics and investment grade guidelines required by RGA.

Conning's Mortgage Loan and Real Estate Group, with eight field offices throughout the United States, provides commercial loan origination, servicing, securitization, equity development and CMBS capabilities to financial institutions. Conning currently services over $4.3 billion in commercial mortgages and CMBS and is a rated master servicer by Standard & Poors and Fitch IBCA, Inc.

"We are very glad to maintain RGA's account and obtain the additional CMBS mandate," said Michael D. McLellan, Conning's Executive Vice President. "We have historically had a close working association with RGA and worked hard to preserve the relationship," he said.

"Conning has strong expertise in mortgages and CMBS management which will support RGA's specific investment criteria," said Anne Bookwalter, Chief Investment Officer of RGA. "Also it was a natural progression to give Conning our CMBS mandate, since they are able to leverage their real estate knowledge and securitization experience in purchasing CMBS for our portfolio," she said.

Conning Corporation, through its subsidiaries, provides asset management services to insurance companies and institutional investors, manages private equity funds investing in financial services companies, and conducts in-depth research on the financial services industry.

Reinsurance Group of America, Incorporated, through its subsidiaries, RGA Reinsurance Company and RGA Life Reinsurance Company of Canada, is among the largest providers of life reinsurance in North America. In addition to its North American operations, Reinsurance Group of America, Incorporated, has subsidiary companies or branch offices in Argentina, Australia, Barbados, Bermuda, Spain, Mexico, Hong Kong, Japan, Taiwan, South Africa and the United Kingdom.

This release contains statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from those anticipated in the forward-looking statements as a result of risks and uncertainties including: the effect of recent volatility in the securities markets and the ability to successfully originate commercial mortgages for Reinsurance Group of America.


CONTACT: Conning Corporation
Paul W. Kopsky, 314/444-0423
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Reinsurance Group of America
Jack B. Lay, 636/736-7439