Two New Directors Join National Life's Board

(May 11, 2007) - Deborah G. Ellinger and Harris H. Simmons have been elected to the Board of Directors of the National Life Holding Company, which oversees the operations of National Life Group.

Ellinger is chief executive officer of Old Mother Hubbard, the Massachusetts-based manufacturer of branded gourmet pet foods known for the Wellness® line of natural food for dogs and cats. Simmons is chairman, chief executive officer and president of Zions Bancorporation (Nasdaq: ZION), a multi-bank holding company based in Utah.

The two assumed their seats on the board immediately following their election Friday (May 11) at the annual meeting of the National Life Holding Company. They replace longtime board members A. Gary Shilling and Patricia K. Woolf.

Board Chairman and CEO Thomas H. MacLeay welcomed the two new members, saying their diverse business backgrounds will help National Life face the challenges of the coming years.

"Deborah and Harris are highly respected and join us at a critical time," said MacLeay. "I look forward to their counsel and perspective."

Ellinger's previous posts include executive vice president of CVS Pharmacy and senior vice president of Staples. She also served as a partner with the Boston Consulting Group and was a vice president with Mellon Financial Services. She is a graduate of Cambridge University in England, and also a Barrister-at-Law in the Courts of England and Wales.

In addition to his positions with Zions Bancorporation, Simmons serves as chairman of Zions First National Bank and is a director of Questar Corp. and O.C. Tanner Co. He is a former chairman of the American Bankers Association and is active in community affairs in Salt Lake City. He is a graduate of the University of Utah and has a master's in business administration from Harvard University.

At Friday's annual meeting MacLeay paid tribute to Shilling, who MacLeay said "brought a wealth of knowledge and financial expertise to our deliberations," and Woolf, who, in 1985, was the first woman elected to the National Life board.

"Pat has been a pioneer in many fields - and her contributions to National Life are countless," he said. "She has ensured that the company has always retained a sense of compassion; she has provided a heart to our discussions, and a strong moral compass to our decisions."