State Auto Notes Hurricane Impact

September 23, 2004

Ohio-based State Auto Financial Corp. estimates that hurricanes Charley, Frances and Ivan, cumulatively, will contribute approximately $32 to $36 million in pre-tax losses or 13 to 14 loss ratio points, to third quarter results.

State Auto Chairman Robert Moone stated, “The recent hurricane activity has caused damage in many of our eastern and southeastern operating states. While claims work continues, we are far enough along in the process to be comfortable in making loss projections, but we also recognize that the process involves considerable uncertainty.”

State Auto Financial Corp. is a regional property and casualty holding company engaged primarily in writing both personal and commercial lines of insurance.

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