Columbus Life Insurance Company Welcomed as Member of the FHLBank Cincinnati

CINCINNATI, April 20, 2009 (GLOBE NEWSWIRE) -- Columbus Life Insurance Company
(Columbus Life) of Cincinnati, Ohio, has been approved for membership at the
Federal Home Loan Bank of Cincinnati (FHLBank). Rated A++ Superior by A.M. Best
Co. (highest of 16 ratings; rating held since June 2005 for superior ability to
meet ongoing insurance obligations), Columbus Life is the 22nd insurance company
to join the FHLBank and is among more than 180 insurance companies in the
12-district FHLBank System. Columbus Life, with $2.5 billion in assets, is a
member of Western & Southern Financial Group (Western & Southern), a Fortune 500
company with assets owned, managed and under its care in excess of $42 billion
as of December 31, 2008.

Membership allows Columbus Life to take advantage of the FHLBank's product line
of financial services including low-cost advances, which can be used for funding
agreements and general asset/liability management as well as financing.

Columbus Life becomes the second Western & Southern company to join FHLBank,
after Western-Southern Life Assurance Company joined in 2006.

"We are pleased to have such a high-quality insurance company as a member of the
Federal Home Loan Bank of Cincinnati," said David Hehman, CEO of the FHLBank.
"This relationship better positions our two companies to expand and support the
housing finance market."

"Columbus Life believes that membership in the FHLBank is important for both
organizations," said J.J. Miller, president and CEO of Columbus Life. "We are
pleased to have joined FHLBank and look forward to a long and productive
partnership."

About Western & Southern Financial Group

Western & Southern Financial Group (Western & Southern) is a Cincinnati-based
diversified family of financial services companies with assets owned, managed
and under our care in excess of $42 billion as of Dec. 31, 2008. A Fortune 500
company, Western & Southern has received A.M. Best's highest rating of A++
Superior for financial strength, Standard & Poor's AA+ rating (one of the 10
highest-rated life insurance groups in the world), Fitch's AA+ rating and Aa3
(Stable) from Moody's. With a heritage dating to 1888, the group's affiliates
include The Western and Southern Life Insurance Company; Western-Southern Life
Assurance Company; Capital Analysts Incorporated(1, 2); Columbus Life Insurance
Company; Eagle Realty Group, LLC; Fort Washington Investment Advisors, Inc.(1);
Fort Washington Savings Company(3); IFS Financial Services, Inc.; Integrity Life
Insurance Company; The Lafayette Life Insurance Company; National Integrity Life
Insurance Company; Todd Investment Advisors, Inc.(1); Touchstone Advisors,
Inc.(1); and Touchstone Securities, Inc.(2). For more information, visit
www.westernsouthern.com. Western & Southern is the title sponsor of the Western
& Southern Financial Group Masters and Women's Open tennis tournaments.

1 A registered investment advisor.
2 A registered broker-dealer and member FINRA/SIPC.
3 Member FDIC.
Ratings refer to the financial strength of the insurance company and not
to the safety, stability or performance of any investment product.
About the Federal Home Loan Bank of Cincinnati

The FHLBank is a $98 billion congressionally-chartered wholesale regional bank
providing financial services for residential housing and economic development to
728 member financial institutions located in Kentucky, Ohio and Tennessee. It
has contributed $301 million for the creation of 47,489 units of lower-income
housing through its Affordable Housing Program since 1990, and $9.9 million to
help 1,177 persons become first-time homebuyers through the American Dream
Homeownership Challenge. The FHLBank System includes 12 district Banks, is
wholly owned by its 8,100 member institution stockholders and does not use
taxpayer dollars.

This news release may contain forward-looking statements that are subject to
risks and uncertainties including, but not limited to, the effects of economic
market conditions on demand for the FHLBank's products or the financial
condition or results from operations of Columbus Life, legislative or regulatory
developments concerning the FHLBank System, competitive forces and other risks
detailed from time to time in the FHLBank's and Columbus Life's filings with the
Securities and Exchange Commission. The forward-looking statements speak as of
the date made and are not guarantees of future performance. Actual results or
developments may differ materially from the expectations expressed or implied in
the forward-looking statements, and the FHLBank and Columbus Life undertake no
obligation to update any such statements.

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CONTACT: Federal Home Loan Bank of Cincinnati
John Byczkowski
513-852-7085
Cell: 513-382-7615
johnb@fhlbcin.com

Western & Southern Financial Group
Jose Marques, Media Relations Manager
(513) 629-1448
jmarques@westernsouthern.com