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News Release

Torchmark and Torchmark Capital L.L.C. Announce Partial Redemption of MIPS

March 26, 2001

Birmingham, Alabama

Torchmark Corporation (NYSE: TMK) and its special purpose finance subsidiary, Torchmark Capital L.L.C. (NYSE: TMKPRM) announced today that Torchmark Capital will redeem 2 million shares of its 9.18% Cumulative Monthly Income Preferred Securities, Series A (MIPS) on April 30, 2001. There are 8 million shares currently outstanding. The redemption price will be $25 per share plus the accrued and unpaid dividend payment to April 30, 2001 of $.19125 per share, for a total payment of $25.19125 per share. Because all the MIPS are held through the Book-Entry Only Issuance System at Depository Trust Company (DTC), DTC will determine the securities to be redeemed and will notify holders.

SOURCE Torchmark Corporation

Contact: Joyce Lane of Torchmark Corporation, 972-569-3627, or jlane@torchmarkcorp.com

Web site: http://www.torchmarkcorp.com/