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Torchmark Announces Public Offering of $120,000,000 of Trust Preferred Securities

May 31, 2006

Torchmark Corporation (NYSE: TMK) announced today that subject to market and other conditions, it is offering 4,800,000 trust preferred securities with an aggregate liquidation amount of $120,000,000. Each trust preferred security will have a stated liquidation amount of $25 and will represent a beneficial interest in the assets of Torchmark Capital Trust III.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Investment Bank and Wachovia Securities are acting as joint book-running managers for the public offering of the trust preferred securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of securities may be made only by means of a prospectus supplement and accompanying prospectus (collectively, the "Prospectus") which is part of a registration statement that Torchmark Corporation filed with the SEC utilizing a "shelf" registration process.

   Copies of the Prospectus can be obtained from:

   Merrill Lynch, Pierce, Fenner & Smith Incorporated
   4 World Financial Center
   New York, New York  10080

   UBS Investment Bank
   Attention:  Fixed Income Syndicate
   677 Washington Blvd.
   Stamford, Connecticut  06901

   Wachovia Capital Markets, LLC
   8739 Research Drive
   Charlotte, North Carolina  28262

Torchmark Corporation is a holding company specializing in life and supplemental health insurance for "middle income" Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies.

SOURCE: Torchmark Corporation

CONTACT: Joyce Lane, Vice President, Investor Relations of Torchmark
Corporation, +1-972-569-3627, or fax, +1-972-569-3282, or

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Key Contacts

Mike Majors
Vice President, Investor Relations
(972) 569-3627

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