Spencer Named Senior Vice President and Chief Financial Officer

For Immediate Release

OWINGS MILLS, MD, FEBRUARY 24, 2010—Richard A. Spencer III has been named Senior Vice President and Chief Financial Officer of The Baltimore Life Companies.

Spencer has served as Baltimore Life’s Controller since joining the company in August 2002. Before joining Baltimore Life, he served as Senior Vice President of Finance and Acting CFO of InsLogic Corporation, a private label insurance broker. He also directed the delivery of audit and strategic risk management consulting services in the Washington, DC offices of PricewaterhouseCoopers LLP.

Spencer earned a bachelor’s degree in accounting from Mount Saint Mary’s University and is a Certified Government Financial Manager and Certified Public Accountant.

“Rick’s financial expertise has been instrumental in Baltimore Life’s continuing period of profitable sales growth,” said David K. Ficca, President and CEO of Baltimore Life. “His experience and dedication will continue to serve us well as we move forward.”

About Baltimore Life

Established in 1882, The Baltimore Life Insurance Company insures individuals, families and businesses, providing financial protection to middle income consumers in 49 states and the District of Columbia.

Baltimore Life conducts business with openness and integrity. We strive to make a positive difference in the lives of our policyholders, associates, and in the communities we serve. Above all, we are committed to a conservative, disciplined financial strategy, recognizing that “it’s the policyholders’ money.”

For more information, please visit www.baltlife.com or call 1.800.628.5433.