<DOCUMENT>
<TYPE>EX-99.CODEETH
<SEQUENCE>2
<FILENAME>a2150939zex-99_codeeth.txt
<DESCRIPTION>EX 99.CODEETH
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                                                                   EX 99.CODEETH

                      TCW CONVERTIBLE SECURITIES FUND, INC.
                                TCW PREMIER FUNDS
                     CODE OF ETHICS FOR CHIEF EXECUTIVE AND
                    PRINCIPAL FINANCIAL & ACCOUNTING OFFICERS

I.      COVERED OFFICERS/PURPOSE OF THE CODE

        This code of ethics (the "Code") for the TCW Convertible Securities
Fund, Inc., and TCW Premier Funds (collectively, the "Funds" and each, a
"Company") applies to the Company's President & Chief Executive Officer and
Treasurer and Principal Financial & Accounting Officer (the "Covered
Officers" each of whom are set forth in Exhibit A) for the purpose of
deterring wrongdoing and promoting:

    -   honest and ethical conduct, including the ethical handling of actual or
        apparent conflicts of interest between personal and professional
        relationships;
    -   full, fair, accurate, timely and understandable disclosure in reports
        and documents that a registrant files with, or submits to, the
        Securities and Exchange Commission ("SEC") and in other public
        communications made by the Company;
    -   compliance with applicable laws and governmental rules and regulations;
    -   the prompt internal reporting of violations of the Code to an
        appropriate person or persons identified in the Code; and
    -   accountability for adherence to the Code.

        Each Covered Officer should adhere to a high standard of business ethics
and should be sensitive to situations that may give rise to actual as well as
apparent conflicts of interest.

II.     COVERED OFFICERS SHOULD HANDLE ETHICALLY ACTUAL AND APPARENT CONFLICTS
        OF INTEREST

        OVERVIEW. A "conflict of interest" occurs when a Covered Officer's
private interest interferes with the interests of, or his service to, a Company.
For example, a conflict of interest would arise if a Covered Officer, or a
member of his family, receives improper personal benefits as a result of his
position in a Company.

        Certain conflicts of interest arise out of the relationships between
Covered Officers and each Company and already are subject to conflict of
interest provisions in the Investment Company Act of 1940 ("Investment Company
Act") and the Investment Advisers Act of 1940 ("Advisers Act"). For example,
Covered Officers may not individually engage in certain transactions (such as
the purchase or sale of securities or other property) with a Company because of
their status as "affiliated persons" of each Company pursuant to Section 17 of
the Investment Company Act. Each Company's and its investment adviser's
compliance programs

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and procedures are designed to prevent, or identify and correct, violations of
these provisions. This Code does not, and is not intended to, repeat or replace
these programs and procedures, and such conflicts fall outside of the parameters
of this Code.

        Although typically not presenting an opportunity for improper personal
benefit, conflicts arise from, or as a result of, the contractual relationship
between each Company and the investment adviser of which the Covered Officers
are also officers. As a result, this Code recognizes that the Covered Officers
will, in the normal course of their duties (whether formally for a Company or
for the investment adviser, or for both), be involved in establishing policies
and implementing decisions which will have different effects on the investment
adviser and each Company. The participation of the Covered Officers in such
activities is inherent in the contractual relationship between each Company and
the investment adviser and is consistent with the performance by the Covered
Officers of their duties as officers of a Company and, if addressed in
conformity with the provisions of the Investment Company Act and the Advisers
Act, will be deemed to have been handled ethically. In addition, it is
recognized by the Board of Directors or Trustees of each Company (each, a
"Board") that the Covered Officers may also be officers or employees of one or
more other investment companies covered by this or other codes.

        Other conflicts of interest are covered by the Code, even if such
conflicts of interest are not subject to provisions in the Investment Company
Act and the Advisers Act. In reading the following examples of conflicts of
interest under the Code, Covered Officers should keep in mind that such a list
cannot ever be exhaustive by covering every possible scenario. It follows that
the overarching principle is that the personal interest of a Covered Officer
should not be placed improperly before the interest of a Company.

        Each Covered Officer must:

        -   not use his personal influence or personal relationships improperly
            to influence investment decisions or financial reporting by a
            Company whereby the Covered Officer would benefit personally to the
            detriment of the Company;
        -   not cause a Company to take action, or fail to take action, for the
            individual personal benefit of the Covered Officer rather than the
            benefit of the Company;
        -   not use material non-public knowledge of portfolio transactions made
            or contemplated for a Company to trade personally or cause others to
            trade personally in contemplation of the market effect of such
            transactions;
        -   report at least annually any directorships or other affiliations
            with other public companies.

        There are some conflict of interest situations that must be approved by
the Chairman and either the general counsel of a Company (the "General Counsel")
or the Chief Compliance Officer of the investment adviser. Examples of these
include:

        -   service as a director on the board of any public company;
        -   service as an executor, trustee, guardian, conservator, general
            partner or other fiduciary, or any appointment as a consultant in
            connection with fiduciary or active money management matters
            exclusive of appointments involving personal estates;

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        -   the receipt of any entertainment from any company with which a
            Company has current or prospective business dealings unless such
            entertainment is business-related, reasonable in cost, appropriate
            as to time and place, and not so frequent as to raise any question
            of impropriety;
        -   any ownership interest in, or any consulting or employment
            relationship with, any of a Company's service providers, other than
            its investment adviser, principal underwriter or any affiliated
            person thereof except that nothing herein shall prevent a Covered
            Officer from acquiring publicly traded securities of a service
            provider in a market transaction;
        -   a direct or indirect financial interest in commissions, transaction
            charges or spreads paid by a Company for effecting portfolio
            transactions or for selling or redeeming shares other than an
            interest arising from the Covered Officer's employment, such as
            compensation or equity ownership.

        In addition, Covered Officers should refrain from accepting gifts of
more than a DE MINIMIS value from providers of goods and services to a Company.

III.    DISCLOSURE & COMPLIANCE

    -   Each Covered Officer should familiarize himself with the disclosure
        requirements generally applicable to each Company;
    -   each Covered Officer should not knowingly misrepresent, or cause others
        to misrepresent, facts about a Company to others, whether within or
        outside the Company, including to a Company's Board and auditors, and to
        governmental regulators and self-regulatory organizations;
    -   each Covered Officer should, to the extent appropriate within his area
        of responsibility, consult with other officers and employees of the
        Funds and the investment adviser with the goal of promoting full, fair,
        accurate, timely and understandable disclosure in the reports and
        documents the Funds file with, or submit to, the SEC and in other public
        communications made by the Funds; and
    -   it is the responsibility of each Covered Officer to promote compliance
        with the standards and restrictions imposed by applicable laws, rules
        and regulations.

IV.     REPORTING AND ACCOUNTABILITY

        Each Covered Officer must:

    -   upon adoption of the Code, affirm in writing to the Board that he has
        received, read, and understands the Code;
    -   annually thereafter affirm to the Board that he has complied with the
        requirements of the Code; - not retaliate against any Covered Officer or
        employees of the Funds or their affiliated persons for reports of
        potential violations that are made in good faith; and
    -   notify the General Counsel promptly if he knows of any violation of this
        Code. Failure to do so is itself a violation of this Code.

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        The General Counsel is responsible for applying this Code to specific
situations in which questions are presented under it and has the authority to
interpret this Code in any particular situation. However, any approvals or
waivers sought by the Covered Officer will be considered by the Audit Committee
of each Company (the "Committee").

        The Funds will follow these procedures in investigating and enforcing
this Code.

    -   the General Counsel will take all appropriate action to investigate any
        potential violations reported to him;
    -   if, after such investigation, the General Counsel believes that no
        violation has occurred, the General Counsel is not required to take any
        further action;
    -   any matter that the General Counsel believes is a violation will be
        reported to the Committee;
    -   if the Committee concurs that a violation has occurred, it will inform
        the Board, which will consider appropriate action, which may include
        review of, and appropriate modifications to, applicable policies and
        procedures; notification to appropriate personnel of the investment
        adviser or its board; or a recommendation to dismiss the Covered
        Officer;
    -   the Committee will be responsible for granting waivers, as appropriate;
        and
    -   any changes to or waivers of this Code will, to the extent required, be
        disclosed as provided by SEC rules.

V.      OTHER POLICIES AND PROCEDURES

        This Code shall be the sole code of ethics adopted by the Funds for
purposes of section 406 of the Sarbanes-Oxley Act and the rules and forms
applicable to registered investment companies thereunder. Insofar as other
policies or procedures of the Funds, the Funds' investment adviser or principal
underwriter, govern or purport to govern the behavior or activities of the
Covered Officers who are subject to this Code, they are superceded by this Code
to the extent that they overlap or conflict with the provisions of this Code.
The Funds' and their investment adviser's and principal underwriter's codes of
ethics under Rule 17j-1 under the Investment Company Act and the investment
adviser's more detailed policies and procedures set forth in TCW Code of Ethics
contained in the TCW Employee Handbook are separate requirements applying to the
Covered Officers and others, and are not part of this Code.

VI.     AMENDMENTS

        Except as to Exhibit A, this Code may not be amended except in written
form, which is specifically approved or ratified by a majority vote of a
Company's board, including a majority of independent directors or trustees.

VII.    CONFIDENTIALITY

        All reports and records prepared or maintained pursuant to this Code
will be considered confidential and shall be maintained and protected
accordingly. Except as otherwise required by

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law or this Code, such matters shall not be disclosed to anyone other than the
appropriate Board and their counsel and counsel to the Funds.

VIII.   INTERNAL USE

        The Code is intended solely for the internal use by the Funds and does
not constitute an admission, by or on behalf of any Company, as to any fact,
circumstance, or legal conclusion.


Date: July 16, 2003

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EXHIBIT A

Persons Covered by this Code of Ethics

Alvin R. Albe, Jr.
David S. DeVito

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