50% Mandatorily Convertible Preferred Stock (NYSE: CNOPrB) of
$0.
Guardian does not issue The Guardian Advantage and does not guarantee any
of the benefits provided under the contract.

ozark insurer

NEW YORK, The Guardian Insurance + Annuity
Company , Inc.

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com .

1964 holders

com.

insurer condominium

With offices in the US and Canada, DALBAR
develops standards for, and provides research , ratings, and rankings of
intangible factors that influence the overall customer-service experience in
the mutual fund, broker/dealer, managed account, retirement plan, life
insurance and property and casualty insurance industries. Be sure to read the prospectuses carefully before investing or
sending money. As of December 31, 2004, Guardian and its subsidiaries had
$39.

juvenile 46

34375 per share. For more information, visit Conseco's web site at
http://www.
Before awarding the seal, DALBAR conducted a series of evaluations with
Guardian's Group Pension clients, reviewing the call center's ability to
effectively support plan sponsors, who use The Guardian Advantage as their
funding vehicle , in their day-to-day business."

DALBAR, Inc.

About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York,
NY (Guardian) is the fourth largest mutual life insurance company in the
United States.

insurance employers

americo 46

The dividend is payable on February 15, 2006 to the
holders of record at the close of business on February 1, 2006. The
Dalbar Seal is only awarded to those firms that consistently exceed customer
expectations for services levels . You should consider the investment company's investment
objectives, risks, fees and charges carefully before investing. More information about Guardian can be obtained
at: http://www.

supplement correlated

Conseco , Inc. The results of these tests
indicate that Guardian's Group Pensions Call Center successfully meets the
needs of their plan sponsors., the nation's leading financial-services market research
firm, continues its nearly three-decade commitment to raising the standards of
excellence in the industry. (GIAC), a Delaware corporation
whose principal place of business is 7 Hanover Square, New York, NY 10004.

holder expense

"We are extremely pleased to receive this recognition by DALBAR," said
Dennis P. The variable investment options offered through GIAC's
variable annuities are sold by prospectus only.
Variable annuities, along with their underlying investment options, are
not deposits or obligations of, or guaranteed or endorsed by, any bank or
depository institution, nor are they insured by the Federal Deposit Insurance
Corporation (FDIC), The Federal Reserve Board, the National Credit Union
Association or any other agency.

1964 annuity

Guardian Group Pensions Earns DALBAR Seal of Excellence for Call Center Support to Plan Sponsors

Such factors
include print communications, Internet , interactive voice response, call
center, and financial-professional touch points. http://www.GuardianLife .

insurer holder

com

About GIAC
The Guardian Advantage(R) is a group variable annuity contract issued by
The Guardian Insurance + Annuity Company, Inc. Investment return and
principal value may fluctuate so that shares, when redeemed, may be worth more
or less than their original cost.

carriers holder

5 billion in assets .

1964 insurer

Mosticchio, Senior Vice President Group Pensions.

mutual insurance

employers ods

, Conseco, Inc.

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With more than 5,000 employees and 2,900 financial
representatives, as well as over 80 agencies nationwide, Guardian and its
subsidiaries protect individuals, businesses and their employees with life,
disability, health and dental insurance products, and offer 401(k) financial
products and trust services.

ods holders

Prospectuses
contain this and other important information and can be obtained from your
financial professional or by calling 800-799-4015.

household insurance

(GIAC) announced today that DALBAR has awarded the company with
the DALBAR Seal of Excellence for Call Center Support to Plan Sponsors. "The Dalbar Seal
demonstrates our dedication to providing exemplary customer service.

household annuity

Conseco Declares Dividend on Class B Preferred Stock

1964 supplement

(NYSE: CNO)
today announced that it has declared a dividend on the outstanding shares of
its Class B 5.dalbar.

shares employers

's insurance companies help protect working American families
and seniors from financial adversity: Medicare supplement, long-term care,
cancer, heart/stroke and accident policies protect people against major
unplanned expenses; annuities and life insurance products help people plan for
their financial futures.

balanced ocaso

conseco.
GIAC is a wholly owned subsidiary of The Guardian Life Insurance Company of
America, New York, NY.

The prospectuses contain important information including risks, fees and
expenses.

balanced household

ods insurance

CARMEL, Ind. They involve investment risk, including
possible loss of the principal amount invested.