40|86 Strategic Income Fund

CARMEL, Ind., Oct. 23 /PRNewswire-FirstCall/ -- 40|86 Strategic Income
Fund (NYSE: CFD) announced today that Audrey L. Kurzawa has resigned as
President and Trustee of the Fund. Ms. Kurzawa also resigned from her
position with 40|86 Advisors, Inc. CFD's investment advisor, to pursue other
opportunities.
40|86 Strategic Income Fund is a closed-end investment management company.
The Fund's primary investment objective is to seek high current income. As
discussed in the Fund's prospectus, the Fund intends to distribute
substantially all of its net investment income monthly. All net realized
capital gains, if any, generally will be distributed to the Fund's
shareholders at least annually, although net capital gains (i.e., the excess
of net long-term capital gains over net short-term capital losses) may be
retained by the Fund.
The Fund is managed by 40|86 Advisors, Inc., a wholly owned subsidiary of
Conseco, Inc. (NYSE: CNO). Conseco, Inc.'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.
SOURCE 40|86 Strategic Income Fund

Jeffrey M. Stautz, 40|86 Strategic Income Fund, +1-317-817-6422