IFS Seeks Distribution Presence in New York; NationalIntegrity Returning to New York Bank Market.

Business Editors

CINCINNATI--(BUSINESS WIRE)--Dec. 4, 2000

IFS Financial Services, Inc. (IFS) today announced it will expand its distribution efforts into New York by distributing National Integrity Life Insurance Company annuity products through New York banks.

IFS

is one of the 10 largest distributors of fixed annuities through banks in the United States. National Integrity is among the leaders for individual annuity sales by companies domiciled in New York. Both operate as part of The Western-Southern Enterprise(R) consumer financial services group.

"National Integrity is known for its innovative products backed by industry-leading technology and outstanding financial strength," said Jim Loveridge, Senior Vice President, Financial Institutions at IFS. "We are excited to support their distribution with our award-winning service operations."

National Integrity product offerings include two variable and two fixed annuities. The flexible-premium variable annuities are PINNACLE, a multi-manager product, and the GrandMaster III, with all Fidelity Investments portfolios. In addition, there are two fixed-rate annuities. NewMOMENTUM is a fixed-rate annuity with guarantee periods of two, three, five, seven and 10 years. SPDA Series is a single premium deferred annuity with one-year and five-year guarantee periods.

IFS, established in 1990 and headquartered in Cincinnati, distributes Western-Southern products to financial institutions, broker-dealers and financial planners. In 1999, the American Bankers Association named Western-Southern the #1 Fixed Annuity Vendor for all service categories combined. In addition to fixed annuities, IFS also distributes the Touchstone Family of Funds and Variable Annuities, as well as Integrity Life and National Integrity Life fixed and variable annuities in bank channels. IFS to date has generated over $2 billion in assets.

Integrity Life Insurance Company, Worthington Ohio, and National Integrity Life Insurance Company, Goshen, New York, are subsidiaries of The Western and Southern Life Insurance Company, Cincinnati, Ohio. Integrity operates in all states except New York, New Hampshire, Maine and Vermont where National Integrity has operating authority. The companies specialize in developing and marketing innovative annuity products and services for individuals with long-term retirement savings needs and offers a variety of fixed and variable annuities through broker-dealers, financial planners and independent agents. Integrity is headquartered in Louisville, Kentucky.

IFS, Touchstone, Western-Southern Life Assurance Company and The Integrity Companies all are part of The Western-Southern Enterprise(R), a group of financial services companies whose heritage dates to 1888 and whose consolidated assets now total more than $26 billion. Western-Southern has received the highest ratings awarded by leading insurance industry analysts.

For prospectuses containing more information, including all charges, risk factors and expenses, please call Touchstone at 800.669.2796. Please read the prospectus carefully before investing or sending money.

National Integrity annuities issued by National Integrity Life Insurance Company, Goshen, New York. Integrity annuities issued by Integrity Life Insurance Company, Worthington, Ohio. Western-Southern and Touchstone annuities issued by Western-Southern Life Assurance Company, Cincinnati, Ohio. Product availability varies by state.