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News Release

Torchmark & Torchmark Cap LLC Announce Redemption-Cumulative Mnthly Income Pref Securities, Series A

October 31, 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 all 4.4 million outstanding shares of its 9.18% Cumulative Monthly Income Preferred Securities, Series A (MIPS) on November 30, 2001. The redemption price will be $25 per share plus the accrued and unpaid dividend payment to November 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 notify holders. While these securities trade on the NYSE under the ticker "TMKPRM," some financial information systems and websites indicate these securities with ticker symbols of "TMK-M" or "TMKM".

SOURCE Torchmark Corporation

Contact: Joyce Lane of Torchmark Corporation, +1-972-569-3627, or jlane@torchmarkcorp.com

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