TABLE OF CONTENTS CORPORATE HEADQUARTERS ANNUAL MEETING OF SHAREHOLDERS INVESTOR RELATIONS  TORCHMARK CORPORATION WEBSITE INDEPENDENT AUDITORS STOCK EXCHANGE LISTINGS INDENTURE TRUSTEE FOR SENIOR DEBENTURES AND 7 7 /8% AND  7 3 /8% NOTES AUTOMATIC DEPOSIT OF DIVIDENDS DIVIDEND REINVESTMENT STOCK TRANSFER AGENT AND SHAREHOLDER ASSISTANCE TORCHMARK CAPITAL TRUST PREFERRED SECURITIES INDENTURE TRUSTEE FOR 6 1 /4% NOTES Financial Highlights . . . . . . . .1 About Torchmark . . . . . . . . . .2 Letter to Shareholders . . . . .10 Condensed Consolidated Statement of Net  Operating Income . . . . . . . .16 Condensed Consolidated Balance Sheet . . . . . . . . . . . .17 Board of Directors  and Officers . . . . . . . . . . . . .18 Officers of Subsidiaries . . . .19 Torchmark Corporation 2001 Third Avenue South Birmingham, Alabama 35233 (205) 325-4200 www.torchmarkcorp.com 10:00 a.m, Thursday, April 24, 2003 Corporate Headquarters Birmingham, Alabama The proceedings will be webcast live and in replay on the Investor Relations page of the Torchmark website. The Company’s Annual Meeting will be conducted in accordance with its Shareholder Rights Policy. A copy of this policy can be obtained on the company’s website, or by contacting the corporate secretary at the Torchmark headquarters address. Contact: Joyce L. Lane Phone: (972) 569-3627 Fax: (972) 569-3696 E-Mail: jlane@torchmarkcorp.com General stock ownership information:  (205) 325-4270 Toll-Free Stock Transfer Number:  (866) 557-8699 Shareholders will find press releases, quarterly and annual financial reports, management presentations, SEC Filings and calendar of events on the Investor Relations page of the Torchmark Corporation website. www.torchmarkcorp.com Deloitte & Touche, LLP 2200 Ross Avenue Suite 1600 Dallas, TX 75201 New York Stock Exchange  Symbol: TMK The International Stock Exchange,  London, England Bank One N.A. 1 BankOne Plaza Mail Code IL1-0134 Chicago, Illinois 60670-0134 Toll-Free Number: (800) 524-9472 Automatic deposit of dividends is available to shareholders who wish to have their dividends directly deposited into the financial institution of their choice. Authorization forms may be obtained from the Stock Transfer Agent by calling toll-free (866) 557- 8699. Participation is voluntary. Torchmark maintains a dividend reinvestment plan for all holders of its common stock. Under the plan, shareholders may reinvest all or part of their dividends in additional shares of common stock and may also make periodic additional cash payments of up to $3,000 toward the purchase of Torchmark stock. Participation is voluntary. More information on the plan may be obtained from the Stock Transfer Agent by calling: toll-free (866) 557-8699 or by writing: The Bank of New York, 101 Barclay Street, 21W, New York, NY, 10286. The Bank of New York Shareholder Relations, Dept. 11F P.O. Box 11258 Church Street Station New York, NY 10286 Toll-Free Number: (866) 557-8699 Toll-Free Hearing Impaired Number: (888) 269-5221 E-Mail: shareowner-svcs@bankofny.com www.stockbny.com Torchmark Capital Trust I and II, Delaware business trust subsidiaries of Torchmark, have issued a total of 5,000,000 7  3 /4% Trust Preferred Securities (liquidation amount $25 per Trust Preferred Security). The Trust Preferred Securities trade through Depository Trust Company under global certificates listed on the New York Stock Exchange (Torchmark Capital Trust I NYSE symbol: TMKPRT; Torchmark Capital Trust II NYSE symbol: TMKPRS). The Bank of New York 101 Barclay Street, 21W New York, NY, 10286 Attention: Corporate Trust Administration Toll-Free Number: (800) 254-2826 www.bankofny.com/corptrust 