Senior Vice President and General Counsel

     Investors Life Insurance Company of North America

     6500 River Place Blvd., Building One

     Austin, TX 78730

Investors Life Insurance Company of North America is a Washington domestic insurance company. Investors Life Insurance Company of Indiana is an Indiana domiciled insurance Company.

Investor Life Insurance Company of Indiana proposes to merge with and into Investors Life Insurance Company of North America with Investors Life Insurance Company of North America being the surviving company.

The merger of a domestic Washington insurance company is controlled by RCW 48.31.010. Pursuant to RCW 48.31.010 a plan of merger has been submitted to the Insurance Commissioner on November 6, 2001. The Insurance Commissioner must hold a hearing and decide whether to approve the merger of the companies.

YOU ARE HEREBY NOTIFIED that a hearing will be held commencing Thursday, January 10, 2002, at 9:00 a.m. Pacific Standard Time in the 2nd Floor Conference Room of the Insurance Commissioner's Office at 420 Golf Club Road, Lacey, Washington 98503, to consider the proposed merger of the Investor Life Insurance Company of Indiana into the Investors Life Insurance Company of North America.

The hearing will be held under the authority granted the Commissioner by Chapter 48.04 RCW and RCW 48.31.010. RCW 48.31.010 lists the findings which must be made before approval can be given to any proposed merger of a Washington domestic insurer.

The basic facts relied upon are those set forth in the Plan and Agreement of Merger and proposed Articles of Merger filed with the Commissioner. The Plan and Agreement of Merger and proposed Articles of Merger will be made part of the record of the hearing. The Commissioner has not taken, and will not take, any position on this matter prior to entry of the hearing order.

All parties may be represented at the hearing. They may examine witnesses and fully respond and present evidence and argument on all issues involved, as required by the Administrative Procedure Act. The hearing will be governed by the Administrative Procedure Act, Chapter 34.05 RCW, and the model rules of procedure contained in Chapter 10-08 WAC. A party who fails to attend or participate in any stage of the proceeding may be held in default in accordance with Chapter 34.05 RCW.

The Commissioner will be represented by Chase Davis, Senior Financial Analyst.

Assistant Deputy Commissioner James E. Tompkins has been designated to hear and determine this matter. His address is Office of the Insurance Commissioner, Post Office Box 40259, Olympia, Washington 98504-0259. His telephone number is (360) 407-0537.

     ENTERED AT OLYMPIA, WASHINGTON, this 17th day of December, 2001.

	Mike Kreidler Insurance Commissioner
	By:
	JAMES E. TOMPKINS Assistant Deputy Commissioner Company Supervision Division

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